Best Car Insurance for Sports Cars in 2024 (Top 10 Companies Ranked)

When it comes to finding the best car insurance for sports cars, State Farm, Geico, and Allstate are top contenders. Sports car insurance rates can be significantly higher than standard car insurance, but with the right provider, you can find affordable coverage without sacrificing quality.

Factors such as the car’s make and model, driver’s age, driving history, and location all influence insurance rates.

Our Top 10 Company Picks: Best Car Insurance for Sports Cars

State Farm stands out as the top pick overall, offering competitive rates, excellent coverage options, and outstanding customer service.

Comparing quotes from these top providers is the best way to find the most affordable sports car insurance rates without compromising on coverage. Get the right car insurance at the best price — enter your ZIP code above to shop for coverage from the top insurers.

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#1 – State Farm: Top Overall Pick

Pros

• Bundling Policies: State Farm offers significant discounts for bundling multiple insurance policies.
• High Low-Mileage Discount: State Farm provides a substantial discount for low-mileage usage.
• Wide Coverage: State Farm car insurance review highlight offering various coverage options tailored for different business needs.

Cons

• Limited Multi-Policy Discount: The multi-policy discount of State Farm is not as high compared to some competitors.
• Premium Costs: Despite discounts, State Farm’s premiums might still be relatively higher for certain coverage levels.

#2 – Geico: Best for Affordable Rates

Pros

• Generous Anti-Theft Discount: Geico offers a substantial discount for having anti-theft devices installed in your vehicle.
• Online Tools: Geico provides a user-friendly online platform for managing policies, claims, and payments.
• Excellent Financial Strength: Geico car insurance review boast an A++ rating from A.M. Best, indicating superior financial stability.

Cons

• Limited Coverage Options: Geico may not offer as many coverage options as some of its competitors.
• Average Customer Service: Geico’s customer service reviews are generally positive but may not be exceptional.

#3 – Allstate: Best for Coverage Options

Pros

• Wide Range of Coverage: Allstate offers a comprehensive selection of coverage options, including specialized coverage for sports cars.
• Enhanced Anti-Theft Discount: Allstate provides a significant discount for vehicles equipped with anti-theft devices.
• Strong Financial Stability: Allstate car insurance review hold an A+ rating from A.M. Best, reflecting its excellent financial strength.

Cons

• Higher Premiums: Allstate’s premiums may be higher compared to some competitors, especially for specialized coverage.
• Mixed Customer Service Reviews: While Allstate offers various customer service channels, some customers report mixed experiences.

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#4 – Progressive: Best for Online Tools

Pros

• User-Friendly Website: Progressive offers a well-designed website and mobile app for managing policies, filing claims, and accessing resources.
• Usage-Based Discounts: Progressive’s Snapshot program rewards safe driving habits with personalized discounts.
• Strong Financial Stability: Progressive car insurance review accentuate an A+ rating from A.M. Best, indicating excellent financial stability.

Cons

• Limited Agent Support: Progressive is primarily an online-based insurer, which may not be suitable for customers who prefer in-person assistance.
• Discounts may Vary: The amount of discount offered through Progressive’s Snapshot program may vary based on driving behavior.

#5 – Erie: Best for Various Discounts

Pros

• Diverse Discount Options: Erie offers various discounts, including multi-policy, anti-theft, and low-mileage discounts.
• Excellent Customer Service: Erie car insurance review highlight consistently receives high ratings for customer satisfaction and claims handling.
• Strong Financial Stability: Erie holds an A++ rating from A.M. Best, reflecting its superior financial strength.

Cons

• Limited Availability: Erie’s coverage is available in a limited number of states, which may not be suitable for all customers.
• Less Online Accessibility: Erie’s online tools and mobile app may not be as advanced as some competitors.

#6 – Nationwide: Best for Usage-Based Insurance

Pros

• SmartRide Program: Nationwide’s SmartRide program offers personalized discounts based on driving habits. Discover more Nationwide car insurance discounts for more savings.
• Excellent Coverage Options: Nationwide provides a wide range of coverage options tailored to different customer needs.
• Strong Financial Stability: Nationwide holds an A+ rating from A.M. Best, indicating excellent financial stability.

Cons

• Limited Discounts: Nationwide may offer fewer discounts compared to some competitors.
• Higher Premiums for Young Drivers: Nationwide’s premiums for young and inexperienced drivers may be relatively higher.

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#7 – Liberty Mutual: Best for Comprehensive Coverage

Pros

• Comprehensive Coverage Options: Liberty Mutual offers a wide range of coverage options, including specialized coverage for sports cars.
• Excellent Claims Handling: Liberty Mutual provides efficient and hassle-free claims handling.
• Strong Financial Stability: Liberty Mutual car insurance review feature an A rating from A.M. Best, indicating excellent financial strength.

Cons

• Higher Premiums: Liberty Mutual’s premiums may be higher compared to some competitors.
• Limited Availability: Liberty Mutual may not be available in all states, which could limit its accessibility for some customers.

#8 – Farmers: Best for Claims Handling

Pros

• Efficient Claims Process: Farmers Insurance offers a straightforward and efficient claims process.
• Diverse Coverage Options: Farmers provides a wide range of coverage options to meet various customer needs.
• Strong Financial Stability: Farmers car insurance review underscore an A rating from A.M. Best, indicating excellent financial strength.

Cons

• Limited Discounts: Farmers may offer fewer discounts compared to some competitors.
• Higher Premiums for Young Drivers: Farmers’ premiums for young and inexperienced drivers may be relatively higher.

#9 – American Family: Best for Loyalty Discounts

Pros

• Loyalty Rewards: American Family offers various discounts and rewards for long-term customers.
• Enhanced Anti-Theft Discount: American Family provides a significant discount for vehicles equipped with anti-theft devices.
• Strong Financial Stability: American Family car insurance review hold an A rating from A.M. Best, indicating excellent financial strength.

Cons

• Limited Availability: American Family may not be available in all states, limiting its accessibility for some customers.
• Higher Premiums: American Family’s premiums may be higher compared to some competitors.

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#10 – Travelers: Best for Custom Plans

Pros

• Customizable Policies: Travelers Insurance offers customizable policies to meet individual customer needs.
• Excellent Financial Stability: Travelers holds an A+ rating from A.M. Best, indicating excellent financial strength.
• Wide Range of Coverage Options: Travelers car insurance review accentuate providing a comprehensive selection of coverage options to suit various customer needs.

Cons

• Limited Discounts: Travelers may offer fewer discounts compared to some competitors.
• Mixed Customer Service Reviews: While Travelers offers various customer service channels, some customers report mixed experiences.

Understanding the Cost of Car Insurance for Sports Cars

How much does insurance cost for a sports car? When considering insurance options for sports cars, it is essential to evaluate both the coverage level and the provider. The table displays monthly sports cars insurance rates for minimum and full coverage from various insurance companies

Among the providers listed, Erie offers the lowest rates for both minimum and full coverage, at $41 and $110 per month, respectively. Conversely, Farmers has the highest rates, with $100 per month for minimum coverage and $259 per month for full coverage.

Sports Cars Insurance: Monthly Rates by Coverage Level & Provider

Geico, State Farm, and Nationwide offer competitive rates for both coverage levels, making them attractive options for sports car owners. Geico charges $54 per month for minimum coverage and $119 for full coverage, while State Farm and Nationwide offer rates of $53/$116 and $55/$130, respectively.

Progressive, although not the cheapest option, provides reasonable rates, with $86 per month for minimum coverage and $176 per month for full coverage.

In conclusion, when selecting sport car insurance, it is crucial to explore the various options available. While sport car insurance cost is a significant factor, it is also essential to consider and compare car insurance coverage type provided by each policy and ensure adequate protection.

Deciphering the Essence of a Sports Car: Key Determinants

What is considered a sports car for insurance purposes? When it comes to defining sports cars, several factors come into play. From the manufacturer and engine specifications to body style and model series, each detail contributes to what makes a car a true sports car. Take a look at some of the factors used to define sports cars:

• Manufacturer: Ford Mustang, Chevy Camaro or Corvette, Dodge Viper, Mitsubishi Lancer, Porsche 911, Saleen, Ferrari, Mazda RX8, Maserati, and Lamborghini
• Engine in the Car: Any modifications that have been done to the engine to increase performance or speed; the number of cylinders in the engine
• Body Style of the Car: Most sports car models are two-door. You may compare two-door car insurance rates to get an idea of the sports car insurance cost associated.
• Model and Series of the Car: Modifications to the car such as exhaust systems, expensive stereo equipment, and ground effects

These factors collectively create the identity of a sports car, giving it the power, style, and performance that enthusiasts crave.

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Affordable Sports Cars With Low Insurance Costs

How much does it cost to insure a sports car, and what sports car has the cheapest insurance? There are also several car insurance discounts that your current insurance provider can provide for you.

Here are some of the sports car cheap insurance you can insure, according to Quadrant Information Services.

Cheapest Sports Cars to Insure

Your insurance rate mainly depends on your own personal factors, where you live, and how much the vehicle is worth. What sports cars are most expensive to insure? According to the New York State Insurance Department’s website, some of the most expensive cars to insure include this sample list of sports cars:

• Acura NSX
• BMW 21
• Chevy Corvette
• Dodge Charger
• Ferrari
• GMC Typhoon
• Honda Civic Del Sol SI
• Isuzu Amigo
• Jaguar XJ-S
• Lotus
• Maserati
• Nissan Roadster
• Oldsmobile Cutlass Calais Quad 4
• Porsche
• Rolls Royce
• Suzuki Samurai
• Toyota Landcruiser
• Volkswagen Corrado
• Yugo

While sports cars are certainly not the cheapest cars to insure, rates are heavily influenced by other factors that are more important than whether your vehicle is a sports car or not.

Finding the Right Sports Car Insurance Policy

Your role in selecting the right car insurance providers is to compare and be upfront. Be honest about all of the features, modifications, and any other equipment that did not come stock on the car.

In the event that the car is wrecked or stolen, the insurance company will not pay for something when they had no idea of its existence. If you own a classic sports car, you do not need to carry sports car insurance at the higher rate. You need classic car insurance.

Classic car owners can often have their repairs done at a regular garage because their parts are much easier to find than today’s high-performance sports cars. Labor is also much less expensive on a classic car. High-performance sports cars will usually require higher limits of coverage than what the state minimum requires. In the event of an accident, you will need more coverage.

Comprehensive coverage is the first thing that you will need, covering your car for theft, vandalism, and any other damage that would not be due to an accident.

Top Insurance Plans for Classic Sports Cars

What’s considered a sports car on insurance? While you may be able to insure an old sports car with a standard full coverage car insurance policy (through a company like Geico or Allstate), a classic sports car will likely only be covered for its depreciated value through an insurance plan of this sort. 

In most cases, owners of classic cars are better off with an insurance company that specializes in collector and classic car insurance. This sort of insurance will cover the value of the car as a collector’s item, meaning there’s plenty of room to negotiate when it comes to coverage limits. That said, there are often certain criteria drivers need to meet in order to qualify for insurance for a classic car.

According to the Insurance Information Institute, old sports car owners may need to show that their vehicle meets some or all of the following conditions in order to be eligible for collector car insurance:

• The classic or collector car may not be used for routine commuting and errands. 
• The owner intends to travel with it only occasionally. 
• The owner of the classic or collector car needs to show that the vehicle is safely stored (in a private garage, storage unit, etc.).
• The owner of the classic or collector car needs to have at least a mostly clean driving record, without any serious offenses such as reckless driving, a DUI, or multiple speeding violations.
• Some insurance policies may not cover the classic or collector car when the owner brings it to car shows and/or auto club gatherings. But specialized insurance coverage is available for these events.

Can you insure an old sports car with standard car insurance? In some cases, yes, you will be able to insure your old sports car with standard car insurance coverage. For example, if the vehicle is the car you use for daily commutes or routine errands, most major car insurance companies will be able to set you up with a policy.

That being said, standard car policies for older cars often provide minimal coverage considering how much you have to pay. This is because standard car insurance looks at your car based on its depreciated value — as opposed to what it may be worth to enthusiasts. If you’re a collector or have put a lot of work into your classic sports car, consider purchasing collector and classic car insurance instead. 

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The Expensive Reality of Insuring Sports Cars

Would my insurance be high if i own a sports car? Sports cars are expensive to insure not only because they can go fast and are therefore considered riskier, but also because they are expensive to repair. By keeping your driving record clean, you are doing one of the most important things possible to lower your insurance premiums.

Companies will consider it less likely that you will damage either yourself or your vehicle in an accident if you have an unblemished — or close to it — driving record. And by employing safety mechanisms such as alarms and vehicle locating systems, the insurance companies will know it is less likely that your vehicle will be stolen or otherwise damaged by thieves.

Discover more on our “Force-Placed Car Insurance: Explained Simply” for more information.

If you’re financing the vehicle, you’ll be required to carry full coverage. According to consumerfinance.gov, if you don’t purchase full coverage car insurance, your lender can buy force-placed insurance to protect their investment, and you may end up being considered a high-risk driver. That’ll be way more expensive than just getting coverage in the first place.

Another thing that impacts your rates for a sports car is that these cars tend to be more expensive than standard sedans. And you’ll want full coverage for your pricey toy. If you get hit by an uninsured driver, you’ll be liable for the damages to your car. It’s not unlikely that this could happen, since the Insurance Information Institute reports that one in eight drivers in the country is uninsured.

How to Find Good Rates on Sports Car Insurance

How much does insurance go up for sports cars? When you compare car insurance quotes online, you will find that you have immediate access to sports car insurance quote that take your situation as a sports car enthusiast into consideration. When typing in your information, make sure to include all of your car’s features, as well as your own personal circumstances, that could qualify you for discounts.

From anti-theft devices discounts to window etchings, and from multi-car policies to Electronic Payment Transfers (EFT), there are many ways to earn discounts on insurance for your sports car.

Nissan GT-R Car Insurance Costs

MSRP: $84,060
Engine: 3.8L V6 485HP
Average Monthly Nissan GT-R Car Insurance Cost: $211

The GT-R has a cult following that may have something to do with the fact that it recently made its debut in North America.  Before being introduced here, this vehicle was exclusively accessible in Japan and featured in video games. If you’re interested, it’s recommended to compare Japanese import car insurance rates.

It seems clear that the insurance industry has taken note, and expects there to be some dramatic crashes of this vehicle until buyers realize that the car is now real.

Porsche 911 Turbo Car Insurance Rates

MSRP: $132,800
Engine: 3.8L H6 500HP
Average Monthly Porsche 911 Turbo Car Insurance Cost: $223

Ever since Ferry Porsche designed his first sports car, they have been coveted by car enthusiasts. Even so, you can expect to pay almost $3,000 per year for insurance just to own one of these. And while it could be your daily driver, it would be hard to get all of the weekly groceries into this fine German machine. Compare Porsche car insurance rates to know more information.

Jaguar XKR Car Insurance Rates

MSRP: $95,150
Engine: 5.0L V8 510HP
Average Monthly Jaguar XKR Car Insurance Cost: $211

Jaguar has been a symbol of British luxury for years. You might be surprised to know that the brand is now owned by an Indian company called Tata Motors, but judging by the European announcer in their commercials, they probably don’t want you to know that. Compare Jaguar car insurance rates for additional information.

Audi R8 Car Insurance Rates

MSRP: $114,200
Engine: 4.2L V8 420HP
Average Monthly Audi R8 Car Insurance Cost: $229

When the R8 was first unveiled, it was lauded for its unique design and form factor. To be sure, Audi had not made a striking vehicle in some time. What’s also striking is the amount you’ll be paying to keep this vehicle insured: on average, R8 owners must shell out $229.25 per month for their policy. For that amount, you could finance a Honda. Compare Audi car insurance rates to learn more.

Dodge Viper SRT10 Car Insurance Rates

MSRP: $90,362
Engine: 8.4L V10 600HP
Average Monthly Dodge Viper SRT10 Car Insurance Cost: $235

Nothing says American might like the Dodge Viper. Nothing says fire-breathing power at the pedal when you’re dealing with six hundred horses. And nothing says you’ve got a bunch of money to blow than by paying over $2,800 in order to legally drive this beast –er –reptile on the mean streets. Compare Dodge car insurance rates for further information..

Mercedes-Benz SL65 AMG Car Insurance Rates

MSRP: $66,650
Engine: 5.4L V8 355HP
Average Monthly Mercedes Benz SL65 AMG Car Insurance Cost: $221

The Mercedes-Benz SL65 AMG probably wins the award here for the least expensive car, but in relation to the amount of insurance you have to pay, it’s still a raw deal. Much of what makes it so expensive is the hard convertible top, which would cost a fortune to replace. Compare Mercedes car insurance rates for more knowledge.

BMW 760Li Car Insurance Rates

MSRP: $137,000
Engine: 6.0L V12 535HP
Average Monthly BMW 760Li Car Insurance Cost: $214

They call BMW, “The Ultimate Driving Machine,” and for good reason because ultimate machines are definitely sedans that need twelve cylinders with over five hundred horsepower.

Do most people really need ultimate machines to get to the gym? Probably not, but the reality is that it makes the insurance industry very happy. Check BMW car insurance rates for further information.

Ford Mustang GT500 Car Insurance Rates

MSRP: $48,645
Engine: 5.4L V8 550HP
Average Monthly Ford Mustang GT500 Car Insurance Cost: $182

The GT500’s list price is reasonable in relation to the amount of power under the hood. But unlike some other cars on this list, the Mustang really only has one purpose: smoky burnouts. Sometimes, however, smoky burnouts lead to accidents. Thus, owners can expect to pay a premium for their smoky burnout hobby. Find out more by comparing Ford Mustang car insurance rates.

How to Obtain an Online Quote for Sports Cars Car Insurance

Obtaining an online quote for sports car insurance is quick and easy. Follow these simple steps to get started on your journey to car insurance comparison:

1. Visit the insurance provider’s website. Go to the website of the insurance provider you’re interested in.
2. Navigate to the quote section. Look for a section on the website labeled “Get a Quote” or “Request a Quote.”
3. Enter your information. Fill out the online form with information about yourself, your sports car, and your insurance needs. Be sure to include details such as the make and model of your car, your age, driving history, and desired coverage options.
4. Review your quote. Once you’ve entered all the necessary information, the website will generate a quote for you based on the details you provided.
5. Compare quotes. Repeat this process with other insurance providers to compare quotes and find the best coverage at the most affordable price. Expand your knowledge on our “Is it possible to get instant online car insurance?“.

Finding the best car insurance for your sports car is essential for ensuring peace of mind and financial stability on the road. With the information provided in this guide, you can make informed decisions about your insurance coverage and find the right policy for your needs.

Remember to consider factors such as coverage options, rates, and customer service when comparing insurance providers. By taking the time to shop around and compare quotes, you can find affordable coverage that protects both you and your sports car. Get started today by obtaining online quotes from the top insurance companies and find the perfect policy for your sports car.

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Case Studies: Importance of Car Insurance for Sports Cars

In these case studies, we delve into real-life scenarios where sports car owners found great deals for best insurance for sports cars on their vehicles. From savvy comparison shopping to leveraging discounts, these stories offer valuable insights into securing affordable and comprehensive insurance coverage for sports cars.

• Case Study 1 – Tom’s Porsche 911 Turbo: Tom, a proud Porsche 911 Turbo owner, found a comprehensive insurance policy at a reasonable rate by comparing quotes and leveraging his clean driving record.
• Case Study 2 – Emily’s Ford Mustang GT500: Emily reduced her Ford Mustang GT500’s high insurance premiums by bundling her sports car insurance with her homeowners’ insurance policy.
• Case Study 3– Jake’s Jaguar XKR: Jake negotiated lower insurance premiums for his Jaguar XKR by installing anti-theft devices and completing a defensive driving course.

These case studies demonstrate that with a bit of research, comparison shopping, and leveraging available discounts, sports car owners can find affordable insurance coverage without sacrificing on protection. By exploring different options and taking proactive steps to reduce premiums, owners can enjoy their high-performance vehicles with peace of mind.

Bottom Line: Car Insurance for Sports Cars

Finding the best car insurance for your sports car is essential for ensuring peace of mind and financial stability on the road. State Farm, Geico, and Allstate offer competitive rates, excellent coverage options, and outstanding customer service tailored specifically for sports car enthusiasts.

By comparing quotes from these top providers, you can find affordable sports car insurance rates without compromising on coverage. Remember to consider factors such as coverage options, rates, and customer service when comparing insurance providers. Get started today by obtaining online quotes from the top insurance companies and find the perfect policy for your sports car.

Stop overpaying for car insurance. Our free quote comparison tool allows you to shop for quotes from the top providers near you by entering your ZIP code below.

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