Are Sports Cars Really More Expensive to Insure?

Buying a sports car is exciting, however, having to buy car insurance can be a drag. Considering your technically paying monthly, semi-annually, or annually for coverage in the case that something “might” happen to your car, insurance can be looked at as being an unnecessary expense. And that expense can fluctuate depending on what kind of car you drive. But can driving a sports car actually mean a higher insurance premium?

Higher performance can mean higher car insurance premiums

Insurance rates depend highly on a number of factors. These factors include the driver’s age, how long they’ve been driving, whether or not they have a clean driving record, and what type of car they drive. And while we all wish that every car was created equal, in the eyes of most insurance companies, they are not.

As such, if you are planning to buy a sports car, then you can look forward to paying more for your insurance policy no matter which company you decide to go with. According to, “Sportscar auto insurance is more expensive because these drivers are statistically more likely to drive faster and therefore cause accidents, which are factors that affect auto insurance rates.”

It’s a bummer, I know. Especially since I personally drive a Honda S2000, which means I’m probably paying a higher premium than I would if I had a comparable Civic of the same year. But life is too short to drive cars with four doors.

Damaged and destroyed vehicles are parked at the cordoned-off accident site in the residential street. | (Photo by Jonas Walzberg/picture alliance via Getty Images)

What qualifies as a “sports car” to insurance companies?

While different insurance companies could possibly qualify different cars as “sports cars,” they all generally adhere to the same type of criteria for them. State Farm notes that some of the factors that they take into consideration are as follows:

  • Engine size
  • Number of cylinders
  • Height
  • Weight
  • Horsepower
  • Make and model of the car

Aside from most owners driving their cars faster, some insurance companies hike up the rates on sports cars due to the fact that if the car gets totaled or stolen, then it may be more expensive to replace. So, if you’re wondering why that Porsche 911 that you’ve had your eye on for the past year costs $2,000 per year to insure, imagine how much it would cost to replace it.

Ford Mustangs and Explorers sit on the sales lot at World Ford.
Ford Mustangs and Explorers sit on the sales lot at World Ford. | (Photo by Joe Raedle/Getty Images)

Is GAP Insurance Worth Buying?

Is it possible to save on car insurance if you’re buying, or own, a sports car?

Yes! If you currently own a sports car or are planning to buy one, then there are few things you can do to decrease the insurance premium associated with it. Here some tips from State Farm:

  • Install a car alarm or some type of anti-theft device
  • Use a different car as your daily driver
  • Reduce the annual miles that you drive with the sports car
  • Maintain a clean driving record
  • Insure multiple cars to get the “multi-car discount”
  • Combine your home and auto insurance
  • Purchase a sports car with a higher safety rating
  • Consider changing the deductible amounts on your policy

By following these tips, you could save hundreds and possibly thousands of dollars per year. By doing so, not only will you save money in the long run, but your prized sports car will be well-insured should the worst-case scenario happen.