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Imagine you are driving your dream car – and it happens to be a convertible! The top is down, the sun is shining, you’re cruising on the highway, and life is good. The last thing on your mind is probably your car insurance rates. So, why do convertibles cost more to insure? Let’s break it down. 

Is car insurance higher for a convertible? 

A BMW 507 roadster convertible model on display during an RM Sotheby's car collectors event at Olympia London
A BMW 507 convertible on display | John Keeble/Getty Images

Typically, yes. The Truth About Insurance states, “Insurance is higher on convertibles. Convertible car insurance rates average at $206 per month, which is 30% higher than the standard rate for a hard-top sedan.” On top of this, roadsters are more costly to repair, so keep that in mind. 

Reasons why convertibles cost more to insure

According to Progressive, “A convertible may cost more to insure because of the higher purchase price they carry. In general, vehicles with a high price tag will cost more to repair or replace, so insurers charge more to cover the higher cost of a potential physical damage claim. This is why insurance for sports cars tends to be higher too.”

Another reason why roadsters cost more to insure? They are seen as easy targets for car theft. If the top is left down, it’s easy for thieves to take items out of the car.

With a convertible, there is a better chance for leaks and exposure when compared to a hard-top vehicle. Water, for example, can damage the seats and potentially cause mold and mildew to grow in the cabin.

If you drive a convertible, it’s likely equipped with a V6 or V8 engine under the hood. If you drive a vehicle with high horsepower, it will cost you more to insure. A faster car equals a higher risk of a potential collision.

Lastly, convertible cars (especially hard-top models) tend to weigh more. Some insurance companies out there have a horsepower to curb-weight ratio for performance. 

Is getting a roadster worth it?


7 of the Most Comfortable Convertibles

Buying a convertible depends on your wants and needs. If you’re not concerned with higher car insurance rates and have always wanted to own one, then, yes, it is worth it! You shouldn’t let these rates crush your dreams of owning the vehicle you’ve always wanted. The best solution is to shop around, get quotes, look for auto insurance discounts, and try to find the best deal possible.

Looking for some less expensive convertibles to insure? Here are some options that might grab your attention:

  • Jeep Wrangler
  • Fiat 124 Spider
  • Mazda MX-5 Miata
  • MINI Convertible
  • Chevy Camaro

These are much more affordable to insure because they are more lightweight and have lower horsepower ratings. You’ll also want to consider safety ratings if you’re in the market for one.

If you aren’t into the idea of owning a roadster anymore, then you can still shop around for other eye-catching vehicles, like coupes and hatchbacks.