Sports car insurance is like the 93 octane of auto insurance. It maximizes your car’s potential, improves its longevity and brings you – the owner – peace of mind.  

Because traditional car insurance (“87 octane,” if you will) isn’t tailor-suited for sports cars, it leaves too many gaps in coverage, and by the time you fill them with higher limits and additional coverage types, it can become prohibitively expensive.  

So let’s cover why traditional insurance is so expensive for sports cars, the crucial gaps it leaves, and how specialty car insurance for sports cars can actually save you time, stress and potentially money.  

What Qualifies as a “Sports Car” for Insurance Purposes?  

While there’s no industry-standard definition of a “sports car,” insurance carriers typically charge higher premiums for vehicles that are:  

• Coupes or two-seaters 
• Built for speed 
• Lighter than a sedan 

Everything from a humble ND Miata to a Corvette C8 Z06 will fall into this category, and as a result, owners will often see higher rates for coverage compared to sedans, trucks or crossovers.  

Why Sports Cars Cost More to Insure  

Even though a C7 Corvette now costs less than a new Camry, most traditional carriers will charge more to insure the ‘Vette for a litany of reasons:  

• High cost of repairs – High-performance cars are made of high-performance parts (e.g. carbon fiber parts, dynamic engine mounts, superchargers) that are more expensive to repair and replace.  
• High cost of replacement – Sports cars generally cost more to purchase, and therefore, cost more for the insurance provider to replace.  
• Elevated theft risk – Expensive high-performance vehicles are attractive targets for thieves. The Camaro ZL1 is the most stolen vehicle in America, according to the IIHS, with a vehicle theft rate 39 times higher than the average for all vehicles.  
• Higher likelihood of a crash – Unsurprisingly, vehicles designed for speed tend to crash more often. An iSeeCars study found that Corvette owners were involved in crashes 4.8x more often than the average driver. Porsche 911 owners were just behind at 4.6x.  
• Risky driver profiles – Finally, sports cars tend to attract young single men – the most expensive drivers to insure due to high rates of accidents – which can raise premiums for all drivers of that particular sports car.  

Coverage Options that Matter the Most 

When shopping for the best insurance for your sports car, you’ll want to consider both traditional and non-traditional coverage for true peace of mind:  

• Liability – High horsepower can lead to more expensive crashes – especially if you plan to drive in proximity to other high-end sports cars (e.g. car meets, car shows, etc.). Therefore, you’ll want higher liability limits than your state’s required minimums.  
• Collision – In a similar vein, you’ll want enough collision coverage to repair or replace your beloved sports car in the event of a total loss.  
• Uninsured/Underinsured Motorist Protection – Statistically, most motorists don’t carry enough liability coverage to replace a $50,000+ sports car. 15.4% carry no insurance at all. That’s why sports car owners should strongly consider UM/UIM protection.  
• Comprehensive – Finally, raising your comprehensive coverage limits can better protect the value of your sports car from weather damage, animal-related incidents, fire, and especially theft.  

While traditional insurance carriers will happily increase your liability/collision/comp limits, they may not be able to offer non-traditional support and coverage types that every sports car owner should consider. Things like:  

• Agreed value insurance – Under an agreed value insurance policy, you and your insurance provider “agree” on a fair value of your vehicle before an accident occurs. This allows you to factor in things like rarity, condition, modifications etc.  
• HPDE insurance – High-Performance Driver Education insurance, aka “track day insurance,” is a separate policy that covers damage to your vehicle incurred during an organized autocross or track day event – a crucial gap left by most traditional insurance.  
• Specialty underwriting – Carriers that offer dedicated sports, exotic and classic car insurance typically employ underwriters that specialize in these types of vehicles – leading to a more tailored experience for owners.  

When specialty insurers outperform traditional carriers 

Specialty sports car insurance isn’t just more robust than traditional insurance; it can also be cheaper. At NCM Insurance, we understand that collector cars aren’t daily beaters. And not every sports car owner is auditioning for the Dukes of Hazzard – and deserves punishing rates for basic coverage.  

Instead, you’ll get a sports car insurance quote that’s tailored to you and your vehicle, backed by best-in-class customer service and a dedicated claims adjuster who speaks your language. A short call with NCM Insurance can result in better coverage, increased peace of mind, and possibly even lower rates than you’re paying today. 

Get a personalized sports car insurance quote from a specialty insurer who understands – and shares – your passion for performance vehicles. Click here for a quote!.