How Much Does Sports Car Insurance Cost?

The cost of sports car insurance varies with prices ranging from $117.63 per month for a Chevrolet Camero to as high as $785.78 per month for a Porsche 911. Sports cars are typically more expensive to insure than other vehicles due to their higher purchase prices coupled with the potential risk inherent in driving a vehicle designed for speed and maneuverability.

Learn what qualifies as a sports car, how they differ from commuter vehicles and luxury cars and how you can get the right coverage for your high-performance vehicle.

Key Takeaways Sports cars are designed for high-speed, agile driving with a focus on performance and often feature aerodynamic bodies, powerful engines and distinctive, sleek aesthetics. Commuter cars, in contrast, focus on practicality, comfort, fuel efficiency and reliability for everyday use. Sports cars are usually more expensive to insure because the higher speeds they can reach can increase the deadliness of a collision, they cost more to replace if totaled and sometimes have high theft rates. It may be possible to offset the higher cost of insuring a sports car by getting a discount for installing anti-theft devices, using a different car for daily commutes and maintaining a clean driving record. Similar to insuring any other type of car, you must buy sports car coverage that meets your state’s minimum insurance requirements, although you may want to buy higher limits and optional coverages like collision and comprehensive insurance.

What Is Considered a Sports Car?

A sports car, or high-performance car, is a type of automobile typically designed for high-speed driving and nimble handling. They usually have a lower and more aerodynamic body, a powerful engine and a firmer suspension to enable tighter handling.

Sports cars often come in various layouts, including front-engine, rear-wheel drive and mid-engine configurations, which provide better weight distribution and are historically two-door coupes. Design-wise, sports cars are known for their sleek, eye-catching aesthetics, often featuring bold colors and distinctive styling cues.

How Is a Sports Car Different From an Everyday Commuter?

Everyday commuter cars prioritize safety, practicality and comfort and usually feature reliable and fuel-efficient engines. The design of commuter cars leans towards maximizing interior space and providing a smooth, comfortable ride for daily travel.

While sports cars might offer a more thrilling driving experience, they are often less practical for everyday use due to their higher cost, lower fuel efficiency and limited cargo and passenger space.

How Is a Sports Car Different From a Luxury Vehicle?

The core difference between a sports car and a luxury vehicle is that sports cars are designed with speed and agility in mind, while luxury cars emphasize comfort and sophistication. For instance, luxury cars are often larger and provide a more spacious and plush interior, making them ideal for long, comfortable rides. They may even have full HD screens with video game and streaming capabilities.

How Much Is Insurance for a Sports Car?

The cost of insurance for a sports car will vary depending on several factors, including the make and model of the vehicle, your driving record, where you live, etc. We’ve found sizable leaps in pricing when it came to sports cars, with the Chevy Camaro being at the low end at $117.63 per month and the Porsche 911 being at the high end at $785.78 per month.

Year	Car	Average Monthly Rate
2024	Chevrolet Camaro	$117.63
2023	Jaguar F-Type	$123.28
2022	McLaren 720S	$126.25
2022	Lamborghini Aventador	$142.17
2022	Ferrari 488 Gtb	$157.40
2023	Dodge Charger	$157.75
2024	Ford Mustang	$158.22
2023	Mercedes-Benz Amg Gt	$331.35
2023	Porsche 911	$785.78

^{Note: The information is based on a driver between 40 to 49 years old.}

How Much Is Insurance for an Old Sports Car?

The price to insure an old sports car ranges from $17 and $83 per month.^[1] You’ll want to find classic auto insurance for older vehicles. Keep in mind that providers will have driving and storage limits on such vehicles.

What Are the Cheapest Sports Cars To Insure?

Based on the information we provided above, the 2024 Chevrolet Camaro is the most inexpensive sports car to insure. Keep in mind that the information we have provided to you is based on a limited sample pool and the rates should only be used for comparative purposes. It is not meant to be comprehensive.

Why Are Sports Cars More Expensive To Insure?

Sports cars are generally more expensive to insure due to several key factors:

• Higher performance: Sports cars often have more powerful engines and higher top speeds. This increases both the risk of a serious accident happening and the likelihood you will have to file a claim. Sports cars are some of the most deadly vehicles on the road according to the Insurance Institute of Highway Safety.^[2]
• More expensive to replace: Sports cars will often come with hefty price tags, which means your insurance provider will have to pay more to replace your vehicle should it be totaled.
• Higher theft rates: Sports cars can be more attractive to thieves due to their high value and desirability, leading to a higher risk of theft.
• Driver profile and behavior: Insurers may associate sports cars with riskier driving behavior, which could lead to more frequent and severe accidents, thereby raising insurance premiums.

What Type of Insurance Do I Need for a Sports Car?

Like with insuring any other car, insuring a sports car must meet the state’s minimum insurance requirements. See below for what sports car coverage should include.

Liability Coverage

Most states will require a minimum amount of liability insurance for any vehicle. This coverage protects you against claims involving bodily injury and property damage you cause while behind the wheel.

Collision Coverage

Your sports car will need collision coverage, safeguarding your vehicle should it be hit by another car. Sports cars are expensive and you don't want to deal with repair costs or even replacing your vehicle on your own without proper insurance to help cushion the financial blow after an accident.

Comprehensive Coverage

Comprehensive coverage protects your sports car against most things non-collision perils such as fire, theft, vandalism and other perils. Without this insurance, you'll have to foot the bill should an irate pedestrian decide to take their anger out on your Corvette and smash the windows.

Gap Coverage

Gap insurance covers the difference between a sports car's loan balance and its depreciated value if it's totaled or stolen, protecting the owner from financial loss. According to the Insurance Information Institute, you should consider gap insurance for your new car or truck if you made a down payment of less than 20% or financed for 60 months or longer.^[3]

Personal Injury Protection (PIP) or Medical Payments Coverage (MedPay)

For sports car owners, PIP and MedPay coverages are valuable as they ensure immediate medical expense coverage for the driver and passengers after an accident. This coverage is crucial given the higher risk and potential severity of accidents involving high-performance vehicles. PIP covers medical expenses, lost wages and other damages regardless of who is at fault in an accident. MedPay only covers medical expenses after an accident, also regardless of fault.

How Can I Lower My Sports Car Insurance?

Insuring a sports car can be pricier than insuring a normal car but it may be possible to lower costs by qualifying for certain discounts. For example, your insurance company may apply a discount if you install an anti-theft device in your car or reduce the annual mileage on your sports car by using another vehicle as your daily commuter. Keeping a clean driving record, insuring multiple cars and bundling your auto and home insurance can also lead to savings. Additionally, enrolling in a driver safety course, buying a car with a high safety rating and exploring different coverage limits are other ways to help save on insurance costs.

How To Get Sports Car Insurance

When searching for insurance, it's wise to compare at least three to five different quotes from various insurers. These companies usually require details about your vehicle like its year, make and model, the number of individuals included in your policy and your driving record. This can sometimes be a cumbersome task if done individually for each insurer.

Thankfully, platforms like SmartFinancial simplify this process. You only need to complete a single questionnaire detailing your insurance needs and budget. This allows you to quickly find a car insurance policy tailored to your requirements, often in just a few minutes. To get your free insurance quote, simply enter your zip code below.