Firstly, you need to know some important things below:
- A sport car has higher risks of being stolen.
- An insurance company decides a car as a sport model by checking the height, the weight, the model, the design, the HP and the number of cylinder.
- A sport car is often lighter and smaller than a normal saloon, so it is very quick and flexible.
- You need to pay more money for the insurance of a sport car than a normal one even if you are a good driver with clean record of driving.
In general, a sport car would be made with 1 soft back, 2 seats, and the performance for racing. Nevertheless, an insurance company decides a car as a sport model by checking the height, the weight, the model, the design, the HP and the number of cylinder. And the definition of a sport car could be not the same between insurance firms. Thus, you need to make.
The insurance for the drivers of a sport car is more expensive as they often drive much faster and lead to a lot of car accidents.
In addition, sports car and luxurious model always has higher risks of being stolen, which means that complete coverage would cost the owner more money.
The more luxurious and newer the car is, the more money you need to pay for the insurance company. As a result, sport car is one of the costliest models to insure.
How Does an Insurance Company Determine if Your Car is a Sport Vehicle?
Some types would be regarded as a normal car by a company and a sport one by another. In general, there are a couple of factors that an insurance company look at to decide the types of car.
Model and Brand
One of the most important factors is to have a look at the model and manufacturer. For a car which has power under the bonnet but might not be a regular sport model, an insurance firm would have to examine the detailed description of the car to decide whether the rates would increase.
The Number of Cylinder
In most situations, a car with 8 cylinders would cost you more money in terms of insurance than a model with 4 cylinders. In general, a sport car has more cylinders as it is a more powerful vehicle with great performance.
The Weight and Height of The Body
An insurance company would also look at the weight and height of a car. In fact, a sport car is lighter and smaller than a normal one, so it is quicker and more flexible. In addition, a sports car is often made with 2 doors and 2 seats.
However, there are a couple of exceptions according to the definition of some car insurance firms. Those are fast vehicles which are made with 4 doors and more than 2 seats. As a result, they are usually considered as sport car with greater insurance coverage.
Why is Insurance for Sport Cars More Expensive?
The answer is mainly because the drivers have tendency to drive faster and more recklessly. As a result, the risks of damage to their own cars, other drivers’ cars, public properties and medical costs of injuries are highly likely to happen.
In addition, an insurance company would also determine the amount of insured money based on the driving record.
Even if you are a good driver of sport car with a completely clean record of driving, you would still have to pay more money for car insurance than a normal one. Nevertheless, they would take this into consideration while measuring the expense of the insurance. You would be offered a discount if having a good habit of driving car even when you drive a powerful fast one.
Another important factor is that a sport car is more possible to be taken away and damaged. Full coverage, which includes vandalism and theft, would be more expensive than it could be for a cheaper or less outstanding car. In fact, car theft could lead to a considerable amount of physical harm. After a car is found abandoned by the thief, various elements would be often missing or broken, and the inside area might require to be changed as well. Accessories for sport car could be very costly, so an insurance company also needs to prevent themselves from excessively high expenses of repairing, basing on.
In conclusion, you always need to make sure to compare a couple of choices before going for your policy because the definition of a sport car would be different depending on insurance company. As a result, it would help you to save a large amount of money for insuring you sport car.