Auto Insurance for Supercars (Expert Guide)

Auto insurance for supercars is expensive and can cost you $1,631.64/mo. The higher rates are due to higher cost parts and repair expenses. Some auto insurance companies won't cover a supercar at all, so compare rates.

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Mathew B. Sims is Editor-in-Chief and has authored, edited, and contributed to several books. He has been working in the insurance industry ensuring content is accurate for consumers who are searching for the best policies and rates...

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance...

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Reviewed byDaniel Walker
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UPDATED: Jun 15, 2020

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Things to remember...

  • A supercar is one of the most expensive and luxurious exotic cars in the world
  • Finding auto insurance for supercars can be difficult because many auto insurance companies consider them to be high-risk
  • Before you purchase a supercar, it is imperative that you find out whether you can secure adequate auto insurance coverage
  • Try researching luxury auto insurance companies to find adequate coverage for your supercar

What is a supercar? If you’ve got your eye on a new Lamborghini or McLaren 720s, you’ll need to look at supercar insurance too. How much is auto insurance for a supercar? You already expect the MSRP to be pretty expensive, but you must also consider the price of the auto insurance premium you will pay.

Finding auto insurance for a supercar is much more difficult than for your regular automobile. Not all of the best insurance companies will write the policy, so it will take some research. You are still obligated to have it, so you should factor it into your purchase price and make arrangements for insurance before you finalize buying a supercar.

How much is insurance on a Bugatti or Astin Martin? Don’t worry, we have done the work for you. We will cover everything you need to know about insuring a supercar, including where to find affordable coverage.

Ready to start comparing auto insurance rates for supercars? Enter your ZIP code in the comparison tool above.

How to Get Auto Insurance for a Supercar

Sportscars, supercars, and hypercars are among the hardest vehicles to insure. Since exotic autos are expensive and repairs for them are pricey as well, many auto insurance providers charge extremely high rates or won’t cover supercars at all. There are some supercar insurance companies, which are really just specialty insurance companies.

Large companies will often partner with specialty insurers to provide coverage. If you’re looking for Geico insurance on a Maserati, you’ll likely get sent to a specialty insurer that partners with Geico. Companies like Hagerty Insurance and Grundy Insurance are both classic and collector car companies, but even they might not take on your supercar.

Before you even sign the check for your supercar, you need to make sure that you can afford the monthly premiums that will accompany it. Besides that consideration, almost every dealership in the US will require you to show proof of auto insurance before they let you take any car off the lot.

Keeping this in mind, you should not expect to be able to actually buy an exotic car without having insurance ready to go.

What defines a supercar for insurance purposes?

Auto insurance companies take several factors into account when classifying a car as a sports car. What makes a car a supercar is often determined by the number of cylinders the car has, the make and model, the horsepower of the car’s engine, the weight of the vehicle, and the vehicle’s height.

A supercar is a loosely-defined term that refers to a variety of high-performance street-legal sports cars. These cars are also sometimes referred to as exotic cars or hypercars. Supercars focus heavily on performance and have a certain exclusivity, meaning they’re fairly rare.

In most cases, supercars have two seats, a softback, and race quality performance that includes 500 horsepower or more. Depending on which exotic car aficionado you ask or dealership you shop with, this doesn’t always have to be the case. If the exotic auto fits other parameters, you might be able to get sports car insurance through some providers, which will result in different, sometimes cheaper insurance rates.

There is a lot of controversy when it comes to which cars qualify as supercars. Take a look at the video below to get an idea of what types of cars are generally considered supercars.

Always check with your insurance provider to find out the classification of your vehicle to avoid any surprises when it comes to your auto insurance policy.

Which auto insurance companies specialize in supercar insurance?

With so many auto insurance companies to choose from, it is sometimes hard to decide which company is the best one for you. Most insurers in the United States will provide coverage for the more common supercar brands such as BMW, Audi, Cadillac, Jaguar, and Acura.

Some companies, however, will not provide coverage for some of the more exotic models of supercars. This includes insurance for imported cars, as American auto insurance companies are unsure of the replacement and repair costs and would rather avoid the risk entirely.

Some of the larger insurers that do offer supercar insurance are:

  • Allstate
  • Geico
  • State Farm
  • Progressive
  • Safeco

It is probably wise when purchasing supercar insurance to stick to the major companies listed above that specialize in supercar coverage. While some more common exotic auto insurance companies do offer supercar coverage, there are often issues with their coverage, such as their tendency to group all supercar drivers into the high-risk category and the fact that they often have maximum limits on their policy payouts.

If you are searching for an insurance agent near you that specializes in supercar insurance, click here to find a local auto insurance agent.

Why do I need special insurance for a supercar?

The main reason that you will want to purchase a special policy for your supercar is to protect yourself in the event you are involved in an automobile accident. If you are spending a lot of money on a supercar, especially if you are importing it from Europe or Japan, you will want the import insurance to protect your investment and make sure you meet U.S. Customs and Border Protection standards for imported vehicles.

The right auto insurance policy will cover your supercar if you are involved in a crash, no matter who is at fault. While this type of coverage may be expensive, you will want to have enough coverage so that you can replace or repair your exotic auto if need be.

Many of the factors that make supercars more difficult and expensive to insure are the same things that make them necessary to insure. Not only will you want to protect your investment, but since supercars can be dangerous, you will also want to make sure you are legally covered in the event of an automobile accident.

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How much is auto insurance for a supercar?

How much does it cost to insure a Lamborghini? The short answer is – a lot. Although auto insurance for a supercar works mostly the same way as for a regular car, supercar insurance is much more expensive. This is partly because supercars are considered a specialty product by most auto insurance companies.

The purchase price of exotic cars is part of what makes them a unique product to insure, but they can also be quite rare, which makes them more difficult to repair if they are involved in an accident. This ends up making premiums more expensive with insurance for import cars.

Which is the cheapest supercar to maintain? You can take a look at the table below to get an idea of what the range of pricing is for supercar insurance. The table shows the top 20 most expensive cars in the country to insure. Nearly every one of them would be considered a supercar.

Average Annual Auto Insurance Rates for the Top 20 Most Expensive Cars
MakeModelAverage Annual Auto Insurance Rates
JaguarXF Sportbrake Prestige$3,425
JaguarF-Type SVR$3,443
BMW750i XDrive$3,470
MercedesMaybach S650$3,565
TeslaModel S Performance$3,574
AudiS8 L Quattro$3,672
MercedesS63 AMG 4Matic$3,672
BMW840i convertible$3,679
Porsche911 Carrera GT3 RS$3,732
BMWI8$3,761
MercedesS560 convertible$3,766
DodgeChallenger SRT Hellcat Redeye$3,768
TeslaModel X Performance$3,798
PorschePanamera GTS Turbo$3,800
BMWM760i xDrive$3,814
MercedesS65 AMG$3,911
BMW M8M8 Competition XDrive convertible$3,953
NissanGT-R$3,994
AudiR8 5.2L V10 Quattro Performance$4,033
MercedesAMG GT R$4,082
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How much is insurance on an exotic car? Check out this video.

Why is supercar insurance more expensive?

There are a number of reasons that auto insurance policies for supercars are more expensive than policies for other types of vehicles.

One of the main reasons that exotic car insurance is so expensive is because of the replacement cost of the vehicle. Supercars carry a hefty price tag and, therefore, are very expensive to replace should you need to file a claim.

Since supercars are often rare, replacement parts can be expensive as well, meaning any repairs done to the vehicle will carry a high price tag, which can go up even more, considering many supercars require specialized mechanics to do the repairs.

Another reason that supercars are more expensive to insure is that they are statistically more likely to be driven at excessive speeds and, thus, more likely to be involved in an automobile crash. Supercars are also more likely to be stolen, which means you’ll need car insurance to cover theft. That kind of comprehensive coverage is much more expensive for these types of vehicles.

What factors determine rates on supercar insurance?

There a number of factors that will determine how much you will pay for your supercar auto insurance policy. The cost of your vehicle, your credit history, the address where the car will be parked, and many other factors go into determining your auto insurance rates.

It may come as a shock to many drivers that auto insurance companies do take your credit rating into account when determining your policy pricing. The reason for this is that insurance companies believe that drivers with higher credit ratings are less likely to submit a claim if involved in an accident.

The table below shows average annual rates for major insurance providers based on credit rating. Take a look and get an idea of how your credit rating may affect your policy price.

Auto Insurance Rates Based on Credit History
CompaniesRates with
Good Credit
Rates with
Fair Credit
Rates with
Poor Credit
USAA$1,821.20$2,219.83$3,690.73
State Farm$2,174.26$2,853.00$4,951.20
Geico$2,434.82$2,986.79$4,259.50
American Family$2,691.74$3,169.53$4,467.98
Nationwide$2,925.94$3,254.83$4,083.29
Progressive$3,628.85$3,956.31$4,737.64
Farmers$3,677.12$3,899.41$4,864.14
Allstate$3,859.66$4,581.16$6,490.65
Travelers$4,058.97$4,344.10$5,160.22
Liberty Mutual$4,388.18$5,604.24$8,802.22
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The auto insurance company will look at your driving history to figure out your insurance rate, too. If you’ve managed not to have any tickets or get into any accidents, you will be looking at a slightly lower rate for your supercar insurance due to your history of safe driving.

The table below shows average rates for major car companies based on driving records. As you can see, a clean driving record can save you a lot of money on your auto insurance policy. This can give you some idea of how certain driving violations will affect your supercar insurance prices.

Average Auto Insurance Rates Based on Driving Record
CompaniesRates with Clean RecordRates with With 1 AccidentRates with With 1 DUIRates with With 1 Speeding Violation
USAA$1,897.75$2,475.22$3,367.66$2,186.44
Geico$2,142.43$3,134.80$4,451.10$2,493.28
State Farm$2,476.06$2,930.32$2,720.00$2,669.60
Nationwide$2,565.95$3,162.33$4,269.79$2,924.39
American Family$2,762.77$3,915.14$4,746.53$3,145.49
Travelers$3,174.28$3,642.70$4,913.17$3,744.85
Farmers$3,324.89$4,326.75$4,326.13$3,781.55
Progressive$3,399.75$4,729.00$3,952.77$3,980.89
Allstate$3,787.57$4,642.32$5,356.45$4,316.11
Liberty Mutual$3,869.33$5,197.79$6,183.64$5,197.79
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If your auto insurance provider classifies your vehicle as a supercar, you can automatically expect to pay higher rates for your policy. Other factors also come into consideration, as well, though, that can either raise or lower your premiums.

How insurance rates are determined for supercars is generally similar to regular cars. The make and model of the actual vehicle will be a primary consideration in what rate you can expect to pay for a supercar. Generally, the rarer the car, the more expensive it will cost to insure. If you are a young person who is able to afford a supercar, your driving experience may end up costing you more for insurance.

Insurance claims will affect your auto insurance rates. If you’ve filed insurance claims recently or within the past few years, you will face higher rates or might even be declined by the supercar insurance company. It may still be possible to get coverage if you have a smudged driving record, but you will end up paying more.

Watch the video below to get a better idea of what factors affect the price of supercar insurance.

Can’t you just cover your supercar on your regular auto insurance policy?

Because of the high replacement and repair costs for supercars, your auto insurance provider will require you to purchase a special policy for your vehicle. If you are financing your supercar, your loan company may require you to carry full coverage insurance.

Most regular auto insurance policies will not cover a supercar.

Before you even show up at the car dealership, you may want to have conversations with various auto insurance companies about what options exist for coverage for a supercar.

This will arm you with the information you need to decide whether you can afford the entire cost of purchasing a supercar. It will also help expedite the purchase process because you will be able to show the dealership that you have coverage already lined up.

If you find yourself stuck without coverage options, this means that you may not be able to drive your supercar on public roads.

Driving without insurance is not only illegal, but, according to Robb Report it can also cost you thousands of dollars in damages, medical bills, and lawsuits if you get into an accident in a supercar.

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How to Lower Your Supercar Insurance Rates

Before you get too excited about purchasing a supercar, arrangements for auto insurance must be made so that you can drive the car off the lot. Expect to pay higher rates for auto insurance for a supercar than you would for a normal vehicle.

That doesn’t mean there aren’t ways to save money on your supercar insurance. You can save money when you buy Lamborghini insurance as long as you know where to look for auto insurance discounts.

For example, if you are importing a supercar from abroad, you can save money on your import car insurance if the exotic auto has an American counterpart. Larger auto insurance companies will have a better understanding of the risks and you might have an easier time finding parts for repair, which can significantly lower your supercar insurance cost.

Keep reading for more ways to lower your supercar insurance rates.

Compare Supercar Insurance Rates Online

While you never want to cut corners on coverage, there are ways to keep yourself from overpaying for auto insurance for a supercar. One of the easiest ways to do this is to start by comparing quotes from multiple auto insurance companies. It is easy and simple to get an auto insurance quote for your supercar with our free online tool.

You can also request a free insurance quote in advance from your auto insurance company to see how much it might cost to purchase coverage for the vehicle before you decide on buying it; this may help you determine whether a supercar is the right choice for you.

Sometimes by checking how much auto insurance would cost before purchasing the vehicle, you can save yourself some headaches in the long run. You should always check beforehand to find out the costs of insuring a vehicle before you purchase it.

Auto Insurance Coverage for Supercars

Like with all other cars, you’ll want to decide how much coverage you need. Depending on how much insurance coverage you want or need will influence the cost of your supercar insurance. Less coverage is required for supercars on display, which can save you money.

If you are financing your supercar, your loan company may require you to carry full coverage insurance. Otherwise, you will need at least the minimum amount of liability insurance required by your state of residence.

Auto insurance is meant to protect you in the event that you are involved in an automobile accident and need to file a claim. If you choose to purchase more than your state’s required minimum liability insurance, you will need to choose your coverage and deductible levels as needed. Other types of coverage you might consider are:

  • Roadside Assistance – This type of coverage is helpful for when your vehicle breaks down and can be used to pay for towing services, tire changes, etc.
  • GAP coverage – This addition to your auto insurance helps pay off your auto loan if your car is totaled or stolen and you owe more than the car is worth
  • Medical Payment Coverage – This type of coverage may help pay for costs such as hospital visits, surgery, x-ray, etc. if you or your passengers are injured in an automobile accident
  • New Car Replacement Coverage – This type of coverage is only available in some states and from certain companies and will pay to replace your vehicle in the event of an accident.
  • Pay-as-you-go insurance coverage – This type of insurance offers rates based on each driver’s individual driving habits and is only available in some states and through certain companies

The table below shows some of the different types of policies and coverage available to you, along with what they do.

Types of Auto Insurance Coverage
Auto Insurance Coverage TypeWhat it Does
Bodily injury liabilityPart of your liability coverage that pays for medical bills if you've injured someone else in an automobile accident
CollisionCovers damage to your car after an automobile accident
ComprehensiveCovers damage to your car that happens when you're not driving
Personal injury protectionCovers medical expenses for you or your passengers after an automobile accident
Property damage liabilityThe other part of liability coverage that covers the cost of any property damage you've caused in an automobile accident
Uninsured/underinsured motoristCovers the costs if you're in an automobile accident caused by a driver with little or no car insurance
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Most states only require you to carry the minimum liability coverage, but you may opt to purchase more coverage. For example, you may opt for liability insurance with higher amounts of coverage or lower deductibles.

Some other common types of additional coverage purchased by drivers are:

  • Accessories Coverage – This add-on can be used to cover the loss of any automobile accessories through theft or damage.
  • Consumables Coverage – This add-on can be used to help you cover the price of all the consumable products you may use in taking care of your vehicle such as motor oil, nuts, and bolts, oil filters, lubricants, etc.

As mentioned earlier, most supercar drivers choose to carry some form of full coverage insurance. It is also possible that your insurance company will require you to purchase a special supercar policy or import car insurance based on your type of exotic auto.

Check Your Supercar Insurance Deductibles

Your deductible is the amount of any damages that you are responsible for paying before your auto insurance policy will pay out on the remainder of the claim. Auto insurance deductibles normally range between $500 and $1,500 regardless of vehicle type.

It is extremely important to make sure to read your auto insurance policy carefully and to know exactly what it covers and what you will be responsible for paying.

One thing you will want to look out for when shopping for supercar insurance is whether or not your auto insurance provider imposes a maximum reimbursement limit on claims you file on the vehicle. If so, you will be responsible for paying for any damages not covered by the policy.

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Buying Auto Insurance for a Supercar

The biggest pro to purchasing the right auto insurance policy for your supercar is knowing that your investment is protected. You can enjoy the peace of mind of knowing that you are covered for all damages if you are involved in an automobile accident.

You can also rest assured knowing that you are driving legally, obeying the laws of the road, and protecting your passengers and others on the road, as well.

The biggest con to insuring a supercar is the price.

Supercar insurance can be extremely expensive, but if you shop around and compare auto insurance prices, you can make sure you find the cheapest and best policy for your supercar. Always make sure to check to see what discounts you qualify for, as well, as this can make a huge difference in your policy pricing.

Watch the video below to get the low-down on all the pros and cons of owning a supercar from a professionals supercar salesperson.

The best way to save money on your auto insurance policy is to shop around and compare prices. That is the reason that we put together this guide – so that you have all the information you need about supercar insurance at your fingertips.

You should always check for multiple quotes before committing to an insurance policy for a supercar because rates will be different from different companies. Get started now by entering your ZIP code below.

Supercar Insurance FAQ

We answered some of the most commonly asked questions regarding auto insurance for supercars:

Are red supercars more expensive to insure?

This is entirely false. Auto insurance companies do not use color as a factor in calculating auto insurance premiums. The only time that they may do so is if you are purchasing a policy for a vehicle with a custom paint job.

Am I a high-risk driver because I drive a supercar?

As mentioned earlier, some auto insurance providers automatically classify the drivers of supercars as high-risk drivers. This is based on risk assessment since auto insurance companies view the drivers of supercars as more likely to speed, drive recklessly, and/or be involved in an automobile accident.

This is not always the case, though, so it is best to check with your insurance provider to see if you fall into this category.

Will I need GAP coverage for my exotic car?

GAP coverage is a type of insurance that helps to pay the difference between what you owe on your vehicle and what your vehicle is worth. This coverage is used to make sure that you are financially covered in the event that you total your vehicle, and you owe more to your loan provider than your car is worth.

For example, if you owe $20,000 on your vehicle and your insurance company will only pay $15,000 based on the vehicle’s fair market value, GAP insurance would step in to cover the remaining $5,000 you would owe to your loan provider after your auto insurance pays out on your claim.

Watch the video below to get more information before you decide if GAP insurance is something you should purchase.

GAP insurance is a good option for drivers who owe more on their vehicle than it is worth. Before purchasing GAP insurance, be sure to calculate your loan balance and compare it to your vehicle’s fair market value. If you owe less than what the car is worth, you probably don’t need GAP coverage.

Are supercars illegal in the US?

United States’ laws regarding exhaust emissions, bumpers, and vehicle modifications are not the same as laws in Europe or Asia where many supercars are designed and built. When you import an exotic car from abroad you may be asked to make modifications in order to drive it legally on American streets. This does not mean supercars are necessarily illegal in the US. They can be used in car shows and put on display, but you will not be able to drive your supercar legally until the necessary modifications are made.

Does exotic insurance limit how much I can drive my supercar?

Supercar insurance policies do not limit the number of miles you are allowed to drive per year, but the number of miles you drive will affect how much you pay for your auto insurance policy.

You may be able to pay less for insurance if you do not plan on driving your car every day. This is because your rate is partly based on your daily mileage. It makes sense that the more you drive, the more likely you are to get into an accident.

If you typically only plan to use your car on special occasions, you should make sure to tell your auto insurance agent this. Using your supercar for display purposes only will land you a slightly lower rate on insurance.

Likewise, if you plan to use your supercar as your regular daily vehicle, you can expect to pay more for your auto insurance premium.

In general, the more time you spend on the road, the higher your chances are of being involved in an automobile accident. Therefore, your auto insurance rates will be higher, as well.

What is the cheapest supercar to maintain?

That really depends on the car’s age, condition, and how you drive it. Any supercar is going to be very expensive to maintain but as a general rule the lower the sticker price, the lower the costs of ownership.

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