Things To Know Before Buying Insurance For Sports Cars

Filed under: Classic News |

We will be going over a few things here that you need to be aware of if you are planning to buy a sports car. First, though, you need to understand what a sports car is, and what happens if you purchase a high-profile car from companies such as Porsche or Ferrari. The definition of a sports car is any two-seat car that is designed and engineered with performance as the main priority.

The problem with that definition is that insurance companies do not follow it. They have come up with their ideas about what a sports car is. You can almost bet that if the vehicle is not an everyday grocer getter that you will be charged a premium price, as a sports car. Let us look at a few reasons why this is the case.

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Speed: Speed kills. There is no doubt that the number one cause of fatal accidents across the nation, and the world, is speeding. All the sports car is designed for speed. Top end acceleration on straight strips, and corners taken at a speed that would normally send a basic car flipping through the air. That is the point of them, and insurance companies know it. For that reason, your risk number goes up. A higher risk number means more expensive premiums.
Cost: It is assumed that you have already looked around at some sports cars that you want, and you have seen that they cost a substantial amount more than your average Ford or Chevy. Premiums are based on the amount that it would cost to replace the car if a serious accident happened. Even if the accident is not bad, the cost of repairing a performance car is higher, even when you opt to use one of the best auto insurance companies. That is, of course, if the mechanic can even get the parts to fix it with all the supply issues going on.
Tickets: A sports car and tickets kind of go hand in hand. Speeding is what it is all about. Letting the car stretch its legs on the interstate can be a rush of a lifetime, but it can also land you some good-sized tickets. Those tickets will increase your insurance premiums as you get them because it raises your risk number. That pesky risk number that always creeps up and bites you in the rear. Sometimes you will be minding your own business, following the rules of the road, and still get pulled over. A sports car is a target for all police cruisers, and the flashier the car is, the more likely you are to see the flashing lights in your rearview mirror.
Now we all know that a sports car has better performance than your average police cruiser, but please do not try to outrun them. Even if you manage to lose the one behind you, you cannot outrun the radio. By the time that you get home a couple of officers will be there waiting for you. The days are gone where you were safe if you outran them. So once again, if you get some blue and red lights flashing at you, pull it over and accept the consequences for your actions.
If getting insurance has any chance of affecting your car purchase, you will want to check around first. Do not just settle for what your current carrier says. Every company will have their own ideas of what a sports car is. The jacked-up costs may sway your decision. If not, get the car of your dreams and go let the horses out.