How much does insurance go up on a sports car? (2023)

FAQs

Does a sports car raise your insurance? ›

To insure an exotic or sports car, get an auto insurance quote like you would for any other car. But note that high-performance vehicles can lead to higher auto insurance rates. More horsepower means more risk for your insurer. And not all insurers insure all high-end vehicles.

Insurance for a 2022 model sports car costs on average $2,152 annually. The cost difference between insuring a sports car and a standard vehicle can range from a couple hundred dollars to a few thousand dollars. The average cost for a conventional car is $1,567.

Higher Insurance for Sports Cars

Be prepared to pay higher insurance premiums. Insurance companies know owners of sports cars go faster than the general driving population and as such, they're at risk of having accidents more frequently — and more seriously — than drivers of minivans, for example.

But there are drawbacks to owning a sports car. Sports cars can be more expensive to maintain and require more frequent oil and tire changes than other vehicles. They're also often not economical. And sports aren't often practical for daily use, particularly for families or for carrying cargo.

Maserati Quattroporte

The Maserati Quattroporte is a luxury sedan that typically costs over $2,500 per six-month policy period to insure, making this car the most expensive vehicle to purchase auto insurance for in 2021.

Compared to normal cars – designed to last for a long time – sports cars have higher performance and wear through their parts quicker due to the heavier stresses and higher rates of speed. This not only results in a higher initial cost of the vehicle itself but also higher costs for the following years.

Every manufacturer hopes that their best sports cars will keep appreciating for many decades to come, but that's rarely the case, as most sports cars start losing value the minute they leave the dealership. It's sad that a sports car that took years to develop can lose value so quickly.

Insurance for a Chevrolet Camaro SS is about $98 more expensive per year than the average. It is a moderately expensive vehicle to insure because it is a sports car with an above-average theft rate.

Are muscle cars more expensive to insure? ›

Revved up horsepower can mean higher insurance premiums. Insurance companies take several factors into consideration: High performance car parts are often more expensive.

The Nissan 350Z, a two-door, two-seater sports car, kicked off production for the fifth generation of Nissan Z-Cars 2002 and ended the 6-year production hiatus in the US.

A higher credit score decreases your car insurance rate, often significantly, with almost every insurance company and in most states. Getting a quote, however, does not affect your credit.

Does car insurance decrease over time? Yes, car insurance decreases over time. You may find that your auto insurance rates go down as you get older or have teen drivers on board. And you might get discounts if you take out insurance with the same company for three to five years.

28. Koenigsegg Jesko: $3 million. The Jesko is our first hypercar that hits the three million dollar mark. From a performance aspect, this makes sense: the Koenigsegg Jesko is also one of the fastest supercars in the world in 2023 – which definitely goes a long way towards its sticker price.

Average Bugatti Insurance Costs

Your insurance costs could approach $2,000-$4,000 per month.

Does Sport Mode Burn More Gas? By switching to more performance-oriented throttle and transmission settings, your vehicle's engine will rev higher and longer than it would during normal operation. This requires more fuel, and over a long drive, it can negatively impact fuel economy.

There might be some truth to the midlife sports car phenomenon. Peak purchasing of sports cars are among 20-year-olds, but when you turn 45, you might rekindle your interest in a fast car.

Which sports car is best investment? ›

In general, young drivers can expect to pay higher rates than older drivers, and around 70, car insurance rates start to increase again.

The color of your car doesn't affect your insurance rate. Instead, your insurance company uses other information, like your car's age, location, usage, and your driving record, to help determine insurance rates.

Standard home insurance covers ordinary bad weather, like windstorms, lightning and hail storms, as well as natural disasters, such as wildfires, hurricanes, and tornadoes. In the property insurance world, these natural hazards and catastrophes are referred to as an act of God, meaning they are out of our control.

A sports car has two main benefits; style and performance. Drivers love sports cars because they look good on the road and are fun to drive. Even if they're not super powerful, a good sports car with quick acceleration and agile handling is fun to drive at any speed.

As a general rule of thumb, around 5,000 miles a year is considered “low miles,” and around 15,000 miles a year is considered “high miles.” To make matters more confusing, exotic cars play by a completely different set of rules than your average used car.

Driving Regularly Will Keep Your Vehicle In Good Shape

You'll want to drive your vehicle a couple of times each month and for at least 10 miles, with some speeds over 50 mph if possible. It's always smart to let your engine idle for at least ten minutes, allowing it to warm up before you fully get on the road.

We know that all cars depreciate quickly, but many sports cars actually have better resale values than the average sedan or pickup truck. Because of their sleek design, and because fewer of them are usually manufactured, they have a greater chance of holding their value or becoming a classic.

Typically, luxury vehicles and sports cars rank highest on the “most-stolen” list, but Hyundai and Kia thefts have been on the rise, rivaling pricier models in recent years.

How much is insurance for a 18 year old with a Camaro? ›

Because of inexperience, young drivers are often charged more for car insurance regardless of the type of car they drive. The Chevrolet Camaro insurance cost for an 18-year-old is $4,772 on average. That is $3,310 more than what a 40-year-old pays for the same coverage.

The Chevrolet Camaro is a great example of a modern muscle car. It has two doors, rear-wheel drive, and plenty of horsepower. It's also loads of fun to drive.

So, really strong gains.” While those figures are reflective of the top of the muscle car market — cars with average values of $400,000 or so — similar trends are occurring everywhere in the category. According to Hagerty's valuation tools , muscle car values across the spectrum are up 19% over the last 12 months.

Lower-spec cars tend to be in the lower insurance groups and so cheaper to insure. Models can appear in different groups, depending on their specifications — so it's always worth getting an insurance quote before you commit.

Drive a luxury vehicle? Expect to pay more for insurance. Luxury, high-performance vehicles cost more to insure because they'll have higher repair costs. If you're in an accident, it costs the insurer more to get your car fixed.

With a 183mph top speed, this ride's beauty is much more than skin-deep.

Nissan 350Z: on the road

Engines will do 300,000 miles without trouble given regular oil changes, but beware high oil thirst – especially on 296bhp unit. On HRs, look for low oil pressure from an internal gasket failure – nine hours' labour to replace.

A FICO^® Score of 666 places you within a population of consumers whose credit may be seen as Fair. Your 666 FICO^® Score is lower than the average U.S. credit score. Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future.

What is a good credit score for auto insurance? ›

A good insurance score is roughly 700 or higher, though it differs by company. You can improve your auto insurance score by checking your credit reports for errors, managing credit responsibly, and building a long credit history.

Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

In most states, car insurance companies are allowed to consider your gender when setting car insurance rates. Over the course of their lifetimes, women tend to pay slightly less — but only by a small amount.

While it can seem arbitrary, there are actual reasons you can see your price go up and down. Car insurance rates can change based on factors like claims, driving history, adding new drivers to your policy, and even your credit score.

Experienced drivers are less likely to have accident claims, which means they cost less to insure. At Progressive, the average premium per driver tends to decrease significantly from 19-34 and then stabilize or decrease slightly from 34-75.

Although most people believe that 25 is the age when car insurance rates go down, the most significant decreases occur when drivers turn 19 and 21. Rates continue to lower until you turn 30. After that, they tend to remain roughly the same.

Does adding a car increase car insurance rates? Yes, adding a second car to your insurance policy will raise your rates, but the increase might be much lower than you expect.

Overall, the vehicle type implicated most frequently in injury crashes and involving the highest rate of road injuries was sports cars, causing clearly the most harm per licensed vehicle.

Buying a muscle car is rarely the most practical purchase, but their promise of cheap speed often comes with a cost. Insurance rates can be pricey on the Ford Mustang, Chevrolet Camaro and Dodge Challenger due in part to the risky driving behavior some owners exhibit.

Is driving a sports car worth it? ›

A sports car provides a far superior driving experience compared to any other type of vehicle. Once you are behind the seat of a sports car, there is no denying that you are experiencing exceptional cornering, steering, and all-around performance.

Sports cars are powerful, they're flashy and they serve as a status symbol for anyone who sits behind their wheels. For all the things they are, sports cars spend a lot of time at the gas station because these sleek and sexy models don't get the best gas mileage. They're designed for speed and power, not fuel economy.

The average cost of insurance for a Chevrolet Camaro SS is $1,525 a year, which is $98 more than the average car model. The average cost of insurance for a Chevrolet Camaro SS can change by as much as $610 per year depending on the car insurance provider.

Over the course of 2021 and the first quarter of 2022, the 4-4-2 experienced increases with the rest of the muscle car market. After spring, it started to lose value while most other top-tier muscle cars held their own. The fact that they have dropped in value two quarters in a row needs to be taken seriously.

The Challenger has just secured the top spot on the muscle and pony car sales chart for the second consecutive year, besting its hometown rivals in the Ford Mustang and Chevrolet Camaro. Dodge sold 55,060 Challengers in 2022, which represents about a one percent increase over the 54,314 Challengers sold in 2021.

Updated February 2023: With the advent of all the economic instability in the world, many motoring enthusiasts long for a sports car which can double as a practical daily driver to complete the tasks of a family car, but without compromising on the performance.