What is considered a sports car by insurance companies?

Sports car insurance is normally more expensive. The average rate of auto insurance for a Ford Mustang is $166/mo. A Toyota Camry costs around $104.50/mo.

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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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UPDATED: Apr 29, 2020

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Here's what you need to know...

  • Insurance companies classify a vehicle as a sports car by looking at the number of cylinders, the horsepower, the make and model, the weight of the vehicle, and the height
  • Sports cars are smaller and lighter than regular sedans, so they very quick stay highly maneuverable
  • Even you are a safe sports car driver with a clean driving record, you will still pay more for auto insurance than a standard vehicle
  • Sports cars run a higher risk of theft

Traditionally, a sports car has two seats, a softback, and race quality performance. However, insurance companies classify a vehicle as a sports car by looking at the number of cylinders, the horsepower, the make and model, the weight of the vehicle, and the height.

A sports car’s definition can vary between insurance companies, so be sure to look at all your options to find the best rates.

Auto insurance is more expensive for sports car drivers because they are statistically more likely to drive faster and therefore cause accidents.

Sports cars and higher-end make and models are at a higher risk of theft, which means comprehensive coverage is more expensive for owners of these types of vehicles.

The newer and more luxurious the vehicle, the more expensive your auto insurance will be. Whether or not your newly purchased vehicle is a sports car, your rates will likely go up. However, sports cars are one of the most expensive cars to insure.

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How do insurance companies decide if your vehicle is a sports car?

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Some models may be considered a sports car by one company and a regular vehicle by another. There are some items insurance providers look at to determine which cars fall under the sports category.

Make and Model

But looking at both the make and the model of a vehicle is a big determining factor.

For vehicles that have power under the hood but may not be a traditional sports car, the insurance company will likely need to check out the car specs to determine if your rates will increase.

Number of Cylinders

In any case, a vehicle with eight cylinders will cost more to insure than one with four cylinders. But sports cars have more cylinders because they are high-performance vehicles with lots of power.

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The Body Height and Weight

Insurance companies will also look at the height and weight of a vehicle. Sports cars are smaller and lighter than regular sedans, so they are quick and highly maneuverable.

Sports cars are usually coupe-style cars with two doors and are two-seater vehicles.

According to the car insurance companies’ definition, there are several exceptions, such as the Aston Martin Rapide S and the Dodge Charger SRT Hellcat.

These are fast cars that have four doors and more than two seats, often require higher coverage, and are often classified as sports cars for insurance purposes.

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Why is auto insurance more expensive for sports car drivers?

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Drivers are more likely to drive recklessly and fast. More of a chance of damage done to the owner’s vehicle, other drivers’ vehicles, and damage to property. Not to mention the chance of high medical bills in the unfortunate event of bodily injury.

The insurance company will base your premium on your driving record as well.

Even you are a safe sports car driver with a clean driving record, you will still pay more for auto insurance than a standard vehicle.

However, they may take this into account when determining the cost of your premium. The fact that you have a habit of driving safely even with a fast and powerful vehicle can mean discounts on your policy.

Sports cars are more likely to be stolen and vandalized. Comprehensive coverage, which covers theft and vandalism, will be more pricey than it would be for a less valuable or desirable vehicle.

Vehicle theft can cause a significant amount of damage. When vehicles are found deserted by the thief, parts are usually broken or missing, and the interior may need some attention as well.

Parts for sports cars can be very expensive, so insurance companies need to have a way to keep themselves protected against extremely high repair costs, and based on the statistics.

They protect themselves by requiring more for a sports car owner’s policy.

Since the definition of a sports car varies by the insurance company, be sure to compare several options before choosing a policy. You could end up saving yourself money by getting a quote from multiple insurance companies at once.

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