Sports Car Insurance: Coverage & Costs (2023) (2023)

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There’s no doubt that driving a sports car can be exhilarating, but insuring a powerful, high-end vehicle can be expensive. Insurance companies view sports cars as higher-risk vehicles due to the unsafe driving behaviors they tend to inspire. Sports cars also mean higher repair costs because high-performance parts are more expensive to replace.

We at the Guides Auto Team have researched and ranked the best car insurance companies to help you find the best match for your sports car coverage needs. In this article, we’ll highlight these providers and share tips for cutting down on your car insurance policy costs.

Why Trust Our TeamThe Guides Auto Team is committed to providing reliable information to help you make the best possible decision regarding insurance for your vehicle. Our researchers, writers and editors are dedicated to investigating providers and analyzing customer feedback and insights so you can choose with confidence.

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Sports Car Insurance: Coverage & Costs (2023) (2)

8,500+Customers Surveyed

Sports Car Insurance: Coverage & Costs (2023) (3)

765Research Hours

Which Vehicles Qualify as Sports Cars?

In general, car insurance companies consider vehicles that have high horsepower, two seats and a smaller size than a standard sedan to be sports cars. Some companies might classify certain models differently, but cars with these basic attributes tend to fall into the sports car category. If you’re not sure if your vehicle is considered a sports car, it’s best to ask your insurance company for clarification.

There are several tiers of sports cars. Certain models from Toyota, Honda, Subaru and other popular manufacturers might be considered low-end sports cars for insurance purposes. Well-known models such as the Chevrolet Camaro, Chevrolet Corvette, Ford Mustang and Dodge Challenger can be thought of as mid-level sports cars. Despite their classification as sports cars, these vehicles don’t typically need any additional coverage beyond standard requirements.

For high-end sports cars, insurance needs are a bit different. High-performance cars from makers such as Ferrari, Lamborghini, Porsche and others often require a different type of coverage than standard carriers can provide. You may want to buy car insurance through a premium carrier that specializes in high-end vehicles to protect your investment.


What Sports Car Insurance Coverage Do You Need?

Almost every state requires bodily injury and property damage liability insurance to cover other parties’ costs in accidents you cause. If you finance your sports car, your lender will likely require you to carry collision and comprehensive coverage as well. Collision insurance pays for vehicle repairs from an accident no matter who is at fault. Comprehensive coverage protects your vehicle from non-accident damage, including environmental damage, vandalism and theft.

You’ll want to consider personal injury protection and gap coverage for your sports car insurance as well. Personal injury coverage helps with medical expenses for you and passengers no matter who is at fault for an accident. Gap insurance pays for the cost of a replacement vehicle in the event of a covered total loss.

Uninsured motorist insurance is another coverage type you should consider as the owner of a used or new sports car. This protects you if you’re in an accident with a driver who has no insurance or inadequate coverage.

How Much Does Sports Car Insurance Cost?

If you drive a sports car or coupe, you can expect to pay more than the national average of $1,730 per year or $144 per month for a full coverage auto insurance policy. What you pay depends on a wide range of factors, including the following:

  • Vehicle model: The specific type of sports car you drive plays a major role in setting car insurance rates. Most sports cars (especially high-end models) have significantly higher intrinsic value than standard sedans, so you can expect higher premiums.
  • Location: States with higher population densities and more traffic usually have higher auto insurance rates.
  • Age: Younger drivers pay higher car insurance rates in general, but this is even more pronounced when it comes to sports cars. Inexperienced drivers present risk driving any car, and this risk is heightened when they’re behind the wheel of a powerful vehicle built for speed.
  • Marital status: Married drivers typically pay less for car insurance.
  • Driving history: You’ll pay more for car insurance if you have a clean driving record without any at-fault accidents, moving violations or a driving under the influence (DUI) conviction.
  • Credit history: Most states factor your credit score into your car insurance premiums. A lower score will lead to higher coverage rates.
  • Gender: The gender listed on your license will affect the cost of your insurance policy, as men typically pay more than women.

Sports Car Insurance: Coverage & Costs (2023) (4)The best way to get the cheapest insurance, no matter what type of car you drive, is to compare car insurance quotes from multiple providers. Most companies make it easy to get free quotes online with just a few details about your vehicle, driving habits and demographics.

Tips for Saving on Sports Car Insurance Costs

There are a few ways you can cut down on sports car insurance costs. Here are a few tips for getting the cheapest car insurance:

  • Search for discounts: Available discounts vary by provider, but you can often unlock savings for having multiple policies, covering multiple vehicles, being a good student, signing up for autopay and completing defensive driving courses. Be sure to check with an insurance agent to see which discounts you qualify for.
  • Drive safely: Those with clean driving records pay the lowest rates for coverage. Avoid accidents and speeding violations or sign up for a usage-based safe driving program that reports your good habits to your insurance provider. Both can improve your chances at getting lower rates.
  • Install anti-theft devices: A good way to save on insurance no matter what type of car you drive, safety devices are even more valuable for sports cars. It’s worth asking your insurance provider about special discounts for specific anti-theft measures.

Our Top-Rated Car Insurance Companies

In our review of the auto insurance industry, State Farm, USAA and Geico stood out for their coverage options, affordability and customer service.

Insurance CompanyOverall RatingCoverage RatingCost Rating
1. State Farm9.38.99.2
2. USAA9.29.39.8
3. Geico9.18.39.2

*Ratings are determined by our editorial review team. Learn more about our scoring methodology below.

#1 State Farm: Editor’s Choice

The most popular auto insurer in the U.S., State Farm also offers some of the most affordable rates in the industry. State Farm’s Drive Safe & Save™ app allows drivers to unlock discounts of up to 30% for maintaining safe driving habits. The company also offers discounts for added safety features, good students and completion of defensive driving courses.

State Farm boasts an A++ rating for financial strength from AM Best. The company also holds an A+ rating from the Better Business Bureau (BBB).

Keep reading: State Farm insurance review

#2 USAA: Low Rates for Military

USAA offers consistently low insurance rates for all types of drivers and vehicles. However, its plans are only available to active members of the military, veterans and their immediate families. USAA is known for excellent customer service and offers a wide range of coverage options. SafePilot® is the company’s usage-based program, which is available in 37 states and rewards safe driving habits.

USAA receives an A++ from AM Best for financial strength. With its positive industry reputation and quality coverage, it’s a smart choice for those who qualify.

Keep reading: USAA insurance review

#3 Geico: Affordable for Most Drivers

Geico is another popular insurance provider that offers a variety of coverage options, plentiful discounts and affordable rates. The company’s DriveEasy® program is available in 28 states and can reduce insurance costs through safe driving habits. Geico offers discounts of up to 26% off for good drivers and similar discounts for customers with multiple covered vehicles.

Geico holds an A++ financial strength rating from AM Best and an A+ rating from BBB.

Keep reading: Geico insurance review

(Video) How to Get Cheap Insurance on a Sports Car ★ 2023

Sports Car Insurance: Conclusion

Although sports cars can be more expensive to insure, shopping around for providers can help you unlock the cheapest sports car coverage rates. Our team recommends reaching out to multiple companies for car insurance quotes to compare your cost and coverage options.

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Sports Car Insurance: FAQ

Our Methodology

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.

Here are the factors our ratings take into account:

  • Cost (30% of total score): Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
  • Coverage (30% of total score): Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
  • Reputation (15% of total score): Our research team considered market share, ratings from industry experts and years in business when giving this score.
  • Availability (10% of total score): Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.
  • Customer Experience (15% of total score): This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by J.D. Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.

*Data accurate at time of publication.

(Video) Auto insurance in 2023 | Car insurance Tips


How much does insurance cost for sports car? ›

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.

Is insurance more expensive on a sports car? ›

Sports car owners are likely to pay a higher premium for auto insurance. The steeper cost for sports cars is due in part to the fact that auto insurers recognize that sports cars have a higher risk for: Collision damage. General safety.

How can I lower my insurance on my sports car? ›

Here's how you can actually save on your summer car insurance:
  1. See if you're eligible for a low mileage discount:
  2. Consider classic car insurance.
  3. Remove Optional Coverages.
  4. Lower your coverage limits:
  5. Choose a higher deductible plan.
  6. Bundle policies:
  7. Pay via EFT/ACH or pay ahead.
  8. Ask your agent about any discounts:
Jan 10, 2023

Why are sports cars expensive insurance? ›

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.

How does sport insurance work? ›

Sports insurance provides the policy owner financial protection from accidents, lawsuits, and damages caused by or during a sporting event that their organization is involved with.

What type of insurance do athletes get? ›

Sports league insurance are general athletic insurance policies that protect leagues, clubs, and teams with general liabilities, excess accident medical, inland marine, crime protection, and directors and officers. Crime protection is one of its main aspects.

What color car is the most expensive to insure? ›

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.

Do sports cars lose value? ›

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.

Do sports cars have more accidents? ›

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.

Does credit score affect car insurance? ›

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.

How do insurance companies determine a sports car? ›

What makes a car a sports car, for insurance purposes? Insurance companies generally consider a sports car to have high horsepower and be smaller and lighter than a standard sedan. Sports cars also often have only two seats and a soft back, and they're built for competitive racing.

What are two things that can lower your car insurance? ›

Here are some ways to save on car insurance1
  • Increase your deductible.
  • Check for discounts you qualify for.
  • Compare auto insurance quotes.
  • Maintain a good driving record.
  • Participate in a safe driving program.
  • Take a defensive driving course.
  • Explore payment options.
  • Improve your credit score.

What is the point of buying a sports car? ›

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.

Is a Camaro considered a sports car for insurance? ›

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.

What are the advantages of sports insurance? ›

These policies are important because some sports injuries may not be minor scrapes but serious injuries that require expensive rehabilitation and treatment. Also, they may cause you to stay in bed for many days at a stretch. Sports insurance policies prevent you from pouring your savings on injury treatments.

What are the benefits of sports insurance? ›

Loss or damage to sporting equipment,accessories and sporting apparel;Loss or damage to personal effects and clothing caused by fire, burglary, house breaking or theft;Legal liability of the insured towards public arising out of an accident;Accidental bodily injury to the insured while practising the sport.

Can I get insured on a sports car? ›

You should expect to pay more for sports car insurance than for a standard car because high-performance vehicles will typically fall into the higher car insurance groups.

How much is insurance coverage for NFL athletes? ›

According to the union (which is now a "Trade Association" due to the de-certification), monthly premiums for individual health insurance coverage is around $2,400 per month per player.

How are athletes insured? ›

Types of insurance for athletes

Disability insurance for athletes protects college and professional athletes who may lose significant earnings if a temporary or permanent injury prevents them from competing. Disability insurance provides financial protection in case this happens.

Do athletes have body parts insured? ›

Insuring body parts isn't anything new in the world of celebrities, but it is a rare type of insurance that now counts athletes among its numbers.

What color car holds value best? ›

According to the iSeeCars report, yellow is the most valuable colors among convertibles and SUVs, while orange does it for coupes, beige is best for pickup trucks, and purple, being among the rarest of colors in any segment, boosts the value of sedans the most.

What is the safest color car to own? ›

MUARC's determination is that white is the safest vehicle color. Why? In all types of weather and lighting, the visibility of a white vehicle rates much higher, particularly at night. In fact, the study showed there is a 12 percent less chance of accident involvement in a white car than a black one.

What color car looks most luxurious? ›

Neutral colors like white, black, silver, and gray are consistently associated with luxury and elite social status. They are elegant and often considered “classy,” at least compared to “loud” car colors like yellow and red.

What is the number 1 selling sports car? ›

Share: The Sports Car segment is broken into three segments.
Here are the remainder of the sports cars:
Make/Model2021 SalesVS 2020
1. Chevy Corvette33,04253%
2. Subaru WRX27,14128%
3. Audi A517,1289%
4. BMW 2-Series15,68418%
7 more rows
Jan 17, 2022

How many miles is too much for a sports car? ›

Here is the cold, hard truth:Â anything over 15,000 miles on an exotic car is considered high mileage.

What sports cars will be discontinued? ›

Farewell Acura NSX, Nissan Rogue Sport, Lamborghini Aventador, and Toyota Avalon.

What brand of car gets in the most accidents? ›

The 25 Vehicles That Have Been Involved in the Most Fatal Car Accidents
1Chevrolet Silverado8,777
2Ford F-1507,502
3Honda Accord5,368
4Toyota Camry5,023
21 more rows

Which sports cars have the most accidents? ›

10 Most Dangerous Sports Cars Ever Made
  • 8 Shelby Cobra Super Snake.
  • 7 Koenigsegg CCX.
  • 6 Noble M600.
  • 5 Porsche 930 Turbo.
  • 4 TVR Cerbera Speed 12.
  • 3 Pontiac Fiero.
  • 2 RUF CTR Yellowbird.
  • 1 Pagani Zonda.
Sep 8, 2022

What's a good auto insurance score? ›

The higher your insurance score, the better an insurer will rate your level of risk in states where insurance scores are a rating factor. According to Progressive, insurance scores range from 200 to 997, with everything below 500 considered a poor score, and everything from 776 to 997 considered a good score.

What is a good credit score? ›

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.

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.

How much horsepower is considered a sports car? ›

On public roads, vehicles with around 400 horsepower fall into the perfect sweet spot of offering useable performance that's actually enjoyable.

What six factors should you consider when you are buying auto insurance? ›

6 Factors that Affect Your Auto Insurance Rates
  • Your driving records. Your driving record carries a lot of weight. ...
  • The type of car you have. Your car can also play an important role in your auto insurance rates. ...
  • Your level of coverage. ...
  • Your deductible. ...
  • Whether or not you leverage discounts. ...
  • Your location.

Is a v6 Challenger considered a sports car? ›

Yes, the Dodge Challenger is more expensive to insure than other car models because it's a sports car with high theft rates.

What is the simplest way to lower your auto insurance premium? ›

Ask for higher deductibles

Deductibles are what you pay before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent.

What are 3 things that would cause your premium to go up and be more expensive? ›

Reasons for a rate increase
  • Comprehensive claims. Depending on your insurance company and the state where you live, your rate may increase for incidents out of your control. ...
  • Adding vehicles and drivers. ...
  • Claims in your area. ...
  • Moving. ...
  • Changes to your insurance score. ...
  • Age. ...
  • Lapse in insurance. ...
  • Loss of discounts.

What is the average price of a sports car? ›

The volume weighted average price of Sports Cars market segment in 2023 is expected to amount to US$86.91k. From an international perspective it is shown that the most revenue will be generated in the United States (US$20,070.00m in 2023).

How much is insurance on a Range Rover sport? ›

A 2017 Land Rover Range Rover Sport starts at a base price of $65,650. With the average insurance rate at $2,724 per year, the annual insurance cost–to–base car price ratio is 4.1%.
Average Land Rover Range Rover Sport insurance rates.
ModelMonthly insurance rateBase car price
Range Rover Velar$185$49,900
5 more rows
May 21, 2021

Is a Nissan 350Z a sports car? ›

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.

Do Camaros make your insurance go up? ›

Compared to other popular American-made muscle cars — the Ford Mustang and the Dodge Charger — the Chevy Camaro is more expensive to insure. The cost to insure a 2021 Camaro, $2,612 per year, was 14% more expensive than the 2021 Dodge Charger's rate and 13% more expensive than the 2021 Ford Mustang.

Is a v6 Camaro considered a muscle car? ›

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.

What is the most bought sport car? ›

Here are the remainder of the sports cars:
Make/Model2021 SalesVS 2020
1. Chevy Corvette33,04253%
2. Subaru WRX27,14128%
3. Audi A517,1289%
4. BMW 2-Series15,68418%
7 more rows
Jan 17, 2022

How much is insurance on a 2023 Range Rover? ›

The average annual rate on minimum coverage car insurance for Range Rovers is $514, while full coverage insurance costs around $2,657 a year.

Why are Range Rover insurance so high? ›

Insurers know that if any repairs are necessary for the SUV or its equipment, the cost will be expensive, which is why insurance rates are high, especially if the Range Rover is new.

How much is the cheapest Range Rover Sport? ›

2023 Land Rover Range Rover Sport Pricing

The all-new 2023 Land Rover Range Rover Sport has a starting price of $83,000. This is a sizable jump in price from the 2022 model year, which was roughly $12,000 less expensive in its entry-level trim.

How many miles will 350Z last? ›

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.

What is a good price for a 350Z? ›

Prices for a used Nissan 350Z currently range from $4,290 to $49,900, with vehicle mileage ranging from 2,969 to 185,088.

Why is a 350Z called a 350? ›

The Z Concept was unveiled in Detroit Motor Show two years later, which was similar in body shape but with a new front end. The car then underwent a minor redesign and was eventually assigned the 3.5 L VQ35DE engine, hence becoming known as the 350Z.


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