How To Buy Sports Car Insurance

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Car insurance will be more expensive for sports cars than other types of cars. This is because sports car drivers rack up more speeding tickets, traffic violations and file more claims for theft, vandalism and collisions. For insurers, the first words that comes to mind when insuring a sports car are “high risk”. Given the high horsepower, turbocharged engine and small body of a sports car, it’s highly likely that it was purchased to drive fast. And faster driving usually leads to accidents and increased rates.

What Is Considered a Sports Car?

According to the Kelley Blue Book, a sports car is a small, two-door car designed for incredible performance and handling. Consumers may have different definitions and visions of what a sports car is, but most insurance companies tend to have a similar level of understanding. Most sports cars are a second “hobby” vehicle, which means they’re driven infrequently. They are driven to be seen and enjoyed, especially on sunny days when traffic is just beyond peak, not on wintery or rainy days. While the definition of a sports car can vary from insurer to insurer, for the most part, it often refers to cars with:

  • Enhanced performance: The ability to out-brake, out-steer and accelerate faster than the majority of cars on the road.
  • Two-seater: Most sports cars are two-seaters to accommodate big and powerful V8 or V12 engines. These engines need more mountings, a high-quality cooling system and a bigger fuel tank — all of which require more space. Plus, a two-seater is just more aerodynamic and weighs less.
  • Better handling: Sports cars are designed to take corners at high speeds. After all, many are designed for the track.
  • Turbo-charged engine: These engines are more efficient than a normal engine in terms of performance and reliability.
  • High power-to-weight ratio: This means the power-to-weight ratio is equal to thrust-per-unit mass multiplied by speed. A lighter chassis can improve the car’s speed and performance.

Ultimately, your insurer may enter your car’s VIN into their system to determine your vehicle’s make, model, number of cylinders, horsepower, weight and size. They will look for an engine 350cc or higher, turbo- or supercharged engines, two seats, high horsepower and more to distinguish it from standard cars. Since each insurance company is different, you may need to call and see which ones consider your car a sports car.

A sports car is a fast, small, two-door car designed for incredible performance and handling.

The most popular sports cars in 2022 are the following:

  • Mazda MX-5 Miata
  • Subaru BRZ
  • Toyota GR86
  • Toyota Supra
  • Chevy Camaro
  • Chevy Camaro ZL1
  • Ford Mustang
  • Dodge Challenger
  • Dodge Charger
Find Affordable Insurance for Sports Cars

How Is Sports Car Insurance Different From Regular Policies?

Different insurers may define sports cars differently. Sports cars will always have a higher insurance rate than a sedan. Typically, you can expect to pay more for premiums the more expensive your car is since they are often involved in more accidents, are stolen more frequently and cost more to repair.

As a driver, it is your responsibility to ensure that your insurance policy provides sufficient coverage to protect both you and your car. To determine this, your insurer will ask for your car’s make and model, height and weight, horsepower and cylinder, body type and more. They also consider the following to determine your insurance rate:

  • Repair costs: Imported, foreign or performance cars may require certified repair shops or can be hard to find parts for, making them quite expensive to fix.
  • Driver’s age: The younger you are, the less experienced you are. This often translates to a higher risk of accidents.
  • Performance: Cars that accelerate at the drop of a dime, corner at high speeds and brake quickly are at higher risk for collisions or traffic violations.
  • Theft: Sports cars are often targeted by thieves and can cost quite a lot of money to replace.

Is it More Expensive To Insure a Sports Car?

Yes, a sports car tends to have higher insurance premiums. For one, they go faster than other vehicles. Additionally, they are powerful, small, lightweight, and designed to show off. Your premiums are calculated by the number of doors your car has, the size of its engine and its overall power. To keep your premiums as low as possible, maintain a clean driving record: i.e. no traffic infractions or collisions.

Sports cars will always have a higher insurance rate than a sedan.

How Much Is Insurance for a Sports Car?

As you can see in the table below, the cost of insuring a popular sports car can cost as much as $4,062 for a driver under 20, based on quoted yearly premiums from SmartFinancial. In comparison, the national average cost of car insurance is $1,450.92.

Car Model (2022)

Average yearly premium (20-29 years old)

Average yearly premium (30-39 years old)

Dodge Charger



Subaru BRZ



Dodge Challenger



Chevrolet Corvette



Toyota Supra



Mazda MX-5



What Type of Coverage Do You Need for Sports Cars?

If you drive a sports car you will likely need the following coverage to avoid paying out-of-pocket costs:

  • Collision and comprehensive insurance: These two coverages protect you financially if your car is damaged in an accident, needs repairs due to severe weather or fire or if it is stolen.
  • Gap coverage: This coverage will pay for the difference between what you owe on the vehicle and what your insurer will pay for a replacement (market value).
  • Personal injury protection or medical payments coverage: These types of coverage can help you with medical costs for you and your passengers, no matter who caused the accident.

How To Get Sports Car Insurance

Insurance for sports cars can be more costly, but there are some ways you can keep your costs as low as possible.

  1. Shop around for the best rates for you: Each insurance provider will be different. Some may vary by hundreds of dollars. By going over quotes from different carriers you’ll be more likely to find the best premiums for your lifestyle and budget.
  2. Try bundling your policies: Many insurers will allow you to bundle multiple policies with the same provider for discounted rates. Homeowners can bundle their homeowners insurance with their car insurance policy, for example.
  3. Ask your insurer about discounts: Some insurers offer a variety of discounts to keep their policyholders happy. For example, students with good grades may be rewarded with lower rates. Anti-theft devices keep your premiums low, and drivers with a good driving history may be offered discounts. Plus, if your sports car is a second car that you drive infrequently, you may pay less each month.
  4. Raise your deductible: Your deductible is the out-of-pocket costs you need to pay before your insurer takes over. The higher your deductible, the lower your premium will be.
  5. Store your vehicle when not in use: If you put your car away during the winter season, you could potentially drop your collision coverage for that duration, but only if you are not still financing your car.
  6. Pay-per-mile coverage: If you don’t drive your sports car often, you could potentially opt to pay as you drive, where your premium is based on how many miles you drive.

On average, the cost of sports car insurance is around $203 a month.

Find Affordable Insurance for Sports Cars

Cheapest Sports Cars To Insure

  • Hyundai Veloster: An inexpensive sports car, Hyundai's Veloster is also reasonable to insure. Average annual rates for the Veloster are $1,260 with USAA.
  • Fiat 124 Spider: Another relatively low-priced sports car is the Fiat 124. Yearly insurance rates average at $1,175 through USAA.
  • Ford Mustang: It may be surprising to learn that this well-known sports car can be insured for just $1,260 through USAA.
  • Chevrolet Camaro: Few sports car enthusiasts can overlook this popular sports car, and USAA offers a yearly rate of $1,398.

average costs of insurance per year by sports cars in bar graphs


Can you get liability insurance on a sports car?

A typical insurance policy for a high-performance car will cover the same things your standard car insurance policy covers, including liability coverage. The same add ons, like collision and comprehensive, are also available.

Is insurance higher on older sports cars?

For the most part, older sports cars are less costly to insure than brand-new cars, especially if the depreciated value of the older vehicle means the insurer would not have to pay much if the vehicle is a total loss.

Is Tesla considered a sports car?

Tesla is considered a luxury car, not a sports car.

Key Takeaways

  • Sports cars are more expensive to insure than SUVs and sedans.
  • Many insurers view sports cars as higher risk when compared to standard cars, thereby increasing premiums.
  • On average, the cost of sports car insurance is around $203 a month. This can vary depending on your insurer, age, location and more.

Get the Coverage You Need for Your Sports Car

Shopping for a new sports car can be exciting. However, it’s critical that you take some time to add up the additional cost of a sports car insurance premium. SmartFinancial can help you find the best rate based on your profile. Just enter your zip code below and answer a few questions to compare sports insurance rates from the best carriers in your area for free.

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