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Sports Car Insurance Explained: How to Insure a High-Performance Vehicle 

2020 Mclaren Senna GTR at RM Sotheby’s Scottsdale 2025

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!.  

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NCM Insurance Welcome’s Ginnie Ashley to the Team!

NCM Insurance is pleased to announce the addition of our newest agent, Ginnie Ashley.  Ginnie comes to us with 6+ years of insurance experience, and from a family of car lovers!

Ginnie is excited to join our team and says, “I am excited to be part of a growing organization focusing in collector vehicle insurance.  Everyone I have met loves working for the NCM, and I love the team atmosphere. I am grateful for the opportunity to transition into a long-term career in such an exciting facility. “

Ginnie came to us from the traditional insurance world but wanted to focus on a niche.  She feels that honing her craft with one product is a huge advantage for our customers, and we would absolutely agree! “I am looking forward to interacting with our current and potential customers from all over the US.  I am looking forward to going to shows and events where I can put a face to the name/car and take part in what makes our customers excited and share their passion of collector cars.”

Ginnie will bring her skills of providing our customers with top notch customer service.  She is a licensed Property & Casualty Agent and will be able to quote, bind, make policy changes and any other insurance needs that you may have. 

Please give Ginnie a warm welcome to Team NCM!

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Buying a Mid-Engine Corvette? Better Check Insurance!

2020 Chevrolet Corvette Stingray

With every new generation Corvette comes an unmatched excitement and anticipation for what GM has designed. This generation, the 8th, could be argued to be the most anticipated CAR (not just Corvette) to date. If you live off the grid, deep in the woods, with no communication to the outside world and you haven’t heard or seen… Yes, the C8 will be the first production mid-engine Corvette from GM. Rumors started swirling around early in 2019 that 2020 will be the year GM finally switches to the mid-engine and since the unveiling, on 07.18.19, the Corvette world has been left drooling. So much so, it even picked up MotorTrend Car of the Year, 2020 NACTOY, MotorWeek Best Performance car of 2020 and Best of the Year.  We are sure many more awards are to come!

2020 Chevrolet Corvette Stingray Convertible

If you are lucky enough to call Bowling Green home, you have been fortunate enough to see these cars driving the streets daily. Even having seen them for months, in each passing brings a quick head turn and a “WOW”. Those not as fortunate as us in Bowling Green, who have allocations or orders in for the 2020 are finally starting to see their cars coming down the production line with the $3,000,000 VIN 001 leading the pack off the line on February 3rd.

We are following the excitement on various forums, Facebook groups and hearing the excitement from customers who are tracking their orders.  Excitement is growing, production is happening, and soon…..very soon….you will be in the drivers seat of your new, world class Corvette!

While most consumers don’t have to worry about insuring their Corvette for $3,000,000, none the less, you will still have to insure it. Most buyers simply call their standard auto agent and have them add it to their policy. Don’t get stuck paying higher premiums for a car you drive for pleasure. Collector vehicle insurance exists for this reason. With our three mileage tiers 1k, 3k or 6k your premiums are based off how often you really drive the vehicle. Also, with the agreed value portion of the policy we lock in your purchase price with no deprecation for the lifetime of the policy.

Being inside the National Corvette Museum gives us an advantage that no other insurance agent or company has.  We don’t just understand your passion, we live it!  We understand the lineage of your car, and where it came from. 

2020 Chevrolet Corvette Stingray Convertible

Now, just because we are inside the Museum, that does not mean we only insure the Corvette.  We can insure ANY collector vehicle.  You may also own a Chevelle, Mustang, Ferrari, or a Cobra replica.  We can insure those, too!  When you have multiple collector vehicles on a policy you will see the savings only multiple.

Are you ready to give us a shot?  Give one of our agents a call at 877.678.7626 for a no obligation quote.  It will be worth your time!

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Corvette Introduces the 60th Anniversary plus the 427 Collectors Edition!

2013 Corvette 427 Convertible

Today Chevrolet announced two new special edition Corvettes to round out the production of the C6 Corvette. The two models that have been unveiled are the 60th Anniversary Edition and the fastest Corvette convertible produced, the 427 Convertible Collectors Edition.

“The 2013 model year will be historic for Corvette, marking its 60th Anniversary and the final year for the current ‘C6’ generation,” said Chris Perry, vice president, Global Marketing and Strategy for Chevrolet. “We couldn’t think of a more fitting way to celebrate these milestones than bringing back one of the most-coveted combinations in the brand’s history – the Corvette convertible and a 427 cubic-inch engine.”

Corvette 427 Convertible Collector Edition

The Corvette 427 Convertible blends elements of the Z06 and ZR1 models to create the fastest and most-capable convertible in Corvette’s history.

Its heart is the 427-cubic-inch (7.0L) LS7 engine from the Corvette Z06. Rated at 505
horsepower (377 kW) and 470 lb.-ft. of torque (637 Nm), it is the most powerful engine ever installed in a production Corvette convertible – and, like the Z06, the 427 Convertible is only available with a six-speed manual transmission.

The LS7 was co-developed with the Corvette Le Mans-winning GT1 engine and features
lightweight titanium connecting rods and intake valves, as well as racing-inspired high-flow cylinder heads and a dry-sump oiling system. It is assembled by hand at GM’s Performance Build Center, where customers who purchase the 427 Convertible Collector Edition can purchase the Corvette Build Experience option and assemble the engine that will power their new car.

Supporting performance elements in the Corvette 427 Convertible include the driveline and rear axle system from the Corvette Z06, a rear-mounted battery and standard Magnetic Selective Ride Control. The standard 19-inch front and 20-inch rear wheels are wrapped in ZR1-style Michelin PS2 tires. Lightweight machine-face Cup wheels – introduced on the 2012 Corvette Z06 with Z07 and Corvette ZR1 with PDE performance packages – come standard and include unique gray-painted pockets. Black Cup wheels or chrome ZR1-style wheels are also available.

The 427 Convertible also features several carbon-fiber components that help reduce weight, including:

  • Carbon fiber raised hood (introduced on the 2011 Z06 Carbon Edition)
  • Carbon fiber Z06-style fenders
  • Carbon fiber floor panels
  • The “CFZ” carbon fiber front splitter and rocker panels are optional on the 427 Convertible, and included with the 60th Anniversary package

The weight reduction brings the 427 Convertible’s curb weight to 3,355 pounds (1,522 kg). Combined with its 505-horsepower LS7 engine, it gives the 427 Convertible a power-to-weight ratio of 6.64 – or one horsepower for every 6.64 pounds of vehicle mass.

That’s better than:

  • Porsche 911 Turbo S Cabriolet – 6.90
  • Audi R8 5.2 RSI Spyder – 7.58
  • Aston Martin DBS Volante Convertible – 7.82
  • Ferrari California Convertible – 8.31

The combination of low mass and high output will make the 427 Convertible one of the fastest convertibles in the world, delivering estimated 0-60 performance of 3.8 seconds, quarter-mile performance of 11.8 seconds, lateral acceleration of 1.04 g and a top speed of more than 190mph.

The 427 Convertible is available in 2LT, 3LT and 4LT trim levels and will carry a unique vehicle identification number sequence, similar to the Corvette ZR1.

Corvette 60th Anniversary Package

All 2013 Corvette models, including the 427 Convertible, will be available with a 60th
Anniversary Package, featuring an Arctic White exterior with a Blue Diamond leather-wrapped interior with suede accents. Convertible models will have a blue top.

Additional content includes a ZR1-style rear spoiler, special badging, gray-painted brake calipers and the “60th” logo on the wheel center caps, steering wheel and seat headrests. An optional graphics package adds full-length racing stripes in Pearl Silver Blue, including a tonal stripe stitched into the convertible top, extending the graphic theme over the roof.

For 2013, all Corvettes will feature 60th Anniversary badges on the fascias and the “waterfall” panel on convertible models, as well as 60th logos in the instrument panel gauge cluster and on the sill plates.

Chevrolet will be auctioning off the first Corvette 427 Convertible at Barrett-Jackson Scottsdale collector car auction with proceeds going to AARP’s Drive to End Hunger initiative on January 21st.

Chevrolet said that both cars will be available late summer when the 2013 Corvettes start production.  We hope to have both models at the annual NCM Bash at the National Corvette Museum in April.

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NCM Insurance is attending Muscle Car and Corvette Nationals!

 


It has been nearly a month since I have last written, and I think it is partially due to the fact that car show season is about over.  It is a shame!  The NCM Insurance Agency has attended many shows this year and met some amazing people along the way. We have a couple more shows this year, and we will be taking a little break.  Over the next several months you will see new press releases with some exciting features we are adding for both policy holders and what we hope to be future policy holders.

The NCM Insurance Agency has one more off-site show this year, and it is in one of our favorite cities.  We will be setting up at the Muscle Car and Corvette Nationals just outside of Chicago, IL.  The event is November 19th and 20th located at the Donald E Stephens Convention Center in Rosemont, IL.

MCACN is the largest indoor car show around and attracts many very unique show cars or rare cars.  Some of the  special displays include the Class of 1971 40th display which will feature hardtops, convertibles and a 1971 LS6 Corvette display.  You will be treated to some of the country’s rarest and most desirable muscle cars from 1971.  Some additional features at the show will be the 50th anniversary of the 1961 model year, Dodge Challenger T/A Reunion, Motion Madness, Midget Racer Mania, the famous Shelby Snakepit, Corvette Triple Diamond Showcase and Competition, sYc Supercar Showcase, sYc Members Showcase, ZL1/COPO Invitational Display, 2nd Generation Camaro L78 display, etc.

As you can see there will be many great classic muscle cars on display, and we would love to see you there!  We will have our mobile quoting command center (sounds fancy!) along with our poster giveaway.  Stop by, get a quote and get a great looking poster by artist Sabastian Poole.

We look forward to seeing many great friends and hope to make new ones!

Are you interested in attending the show?  Check out www.mcacn.com for more information.

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Wildfire claims 2 Corvettes, see how it was handled!

In April a great friend of the National Corvette Museum and a customer of the NCM Insurance Agency received a call as he came out to the NCM for the C5/C6 Bash that he will not forget anytime soon.  He was told that a wildfire started near his house and destroyed some of his prized possessions.



We caught up with Holt when he returned to the Corvette Museum for the 17th Annual Labor Day Celebration, and he wanted to share his experience with you all.







The NCM Insurance Agency proudly writes Collector Car Insurance for AMIG or American Modern Insurance Group on an Agreed Value policy. To have the same great coverage as Holt, put together a quote at www.ncminsurance.com or give us a call at 877.678.7626.

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Are you buying a Corvette at Carlisle? Come see us for your insurance needs!

Are you going to Corvettes at Carlisle this year? Are you looking to buy a new car? If so, the NCM Insurance Agency will be available to write your Collector Car Insurance coverage immediately!

We are conveniently located under the Grandstands which are connected to the Food Court. We are in the next building over from the Orrstown Bank and Chip’s Choice Display. Our spot is #27 and we will be prepared to provide instant coverage for the new addition.




The NCM Insurance Agency is more than an insurance agency…as part of the National Corvette Museum, we are pleased to offer Corvette insurance, collector car insurance and car club insurance. Our programs are not just limited to Corvettes – we will accept just about any make and model of collector vehicle! The NCM Insurance Agency has been writing business in almost every state since April of 2009.

We offer flexible usage as well as the Nine-to-Five Driver endorsement that allows you to drive your Corvette or other Collector Car to work up to 2 times per week. We also offer mileage options and many deductible options ranging from $0, $250, $500, etc. Most importantly we offer an Agreed Value Coverage policy. We do not believe in a one size fits all policy, so stop by and let us tailor a package just for you.

We look forward to working with you!

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National Corvette Museum Celebrates 100 Years of Chevrolet with Special Exhibit

Chevrolet’s first car pulled onto the auto scene like a decked-out debutante. Race-car driver Louis Chevrolet imagined an upscale dream car based on the racing cars he loved. The Series C Classic Six produced 40 horsepower and could go a whopping 65 miles per hour, competing with the high-performance cars of its time. For the first couple of years, it was simply called “the Chevrolet.” While Chevrolet co-founder Bill Durant would quickly shift the company toward affordability, performance would stay at the heart of Chevrolet for a century to come.


The National Corvette Museum celebrates Chevrolet’s 100th anniversary with a special 14-car exhibit, showcasing a variety of Chevrolet vehicles through the decades. On display are a 1912 “Little” – a product of the Little Car Company which was dissolved into Chevrolet; a 1928 Phaeton Touring Car; a 1935 Chevrolet; a 1936 Canopy Express Pick-up – used for produce display and delivery; a 1942 ‘War Car’, a 1955 Bel Air; a 1958 Impala; a 1964 Corvair; a 1965 Chevelle 300; a 1970 Chevelle; 1987 Monte Carlo; a 1996 Camaro; a 2003 50th Anniversary Corvette and a 2012 Volt.



“Our goal for this exhibit was to not only offer a wide variety of Chevrolet models, but also select vehicles to represent each decade of the 100 years,” said Katie Frassinelli, Marketing Manager and member of the Museum’s Display Committee.



As with the majority of vehicles on display in the museum, all of the exhibit cars are on loan from private individuals with three of them on loan from the General Motors Heritage Center. The display runs through December 31, 2011 in the Museum’s Exhibit Hall and is included with regular museum admission.



The National Corvette Museum is located at I-65, exit 28 in Bowling Green, Kentucky and is open daily, 8am-5pm CT. Admission is $10 for adults, $8 for seniors, $5 for kids age 6-16, kids under 6 are free, or family admission (everyone in the same household) is $25. For more information on the Museum, visit www.corvettemuseum.org or call 800-538-3883.



In addition to the Museum’s celebratory exhibit, Chevrolet has launched a special “Chevy 100” channel on Pandora featuring 100 popular songs with Chevrolet-related references such as Prince’s “Little Red Corvette” and Don McLean’s “American Pie.” Additionally, Chevrolet is sponsoring the August 20 Woodward Dream Cruise – a grassroots event which draws an estimated 1.5 million car enthusiasts and 30,000 muscle cars to Michigan’s legendary Woodward Avenue. Chevrolet fans can also vote for their favorite models in a tournament-style bracket challenge which will eventually crown just one Chevy as “the best” at www.chevrolet.com/100-years/best-chevy-of-all-time/.


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Media Contact:

Katie Frassinelli, Marketing and Communications Manager

National Corvette Museum

270-467-8846 | 800-538-3883 x146 or [email protected]

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Mr. Rick Hendrick visits the National Corvette Museum!

Today was a great day here at the National Corvette Museum. Mr. Rick Hendrick, Owner of Hendrick Motorsports, picked up 3 cars from us that he has recently purchased from Barrett Jackson and other benefit auctions. He also brought 3 cars with him from his personal collection. Below is a video of the cars and you will also find several photos that I took. I hope that you enjoy!

 

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Common misconceptions on the NCM Insurance Agency



Common misconceptions on the NCM Insurance Agency 

The past 3 years of the NCM Insurance Agency have been an amazing time!  We now insure nearly 50 million dollars worth of Collector Vehicles and have tripled our business in the last year alone!  We are a rapidly growing insurance agency that is making a ton of buzz in the industry.  We could not be growing as much as we have been without our current customers spreading the word about what we do.  We cannot thank you enough! 


The NCM Insurance Agency has attended many shows over the last 3 years and talked with thousands of people on the phone.  Every once in a while we will hear things like “I have a new Corvette” or “where are you actually located”, etc.  We would like to take this opportunity to share the answers to our frequently asked questions. 


“We have a new Corvette, you won’t insure that.” 


Collector Car Insurance does not mean Classic Car Insurance, and the majority of the cars we insure are newer Corvettes, 1997-current.  There are limitations on usage to qualify for Collector Car Insurance – cars cannot be used for daily use such as going to the grocery store, mall, Dr’s office, golf course, etc.  If you use your Corvette or any other collector car for the occasional pleasure trip, club events, car shows, parades then you may qualify.  We have several mileage options to choose from as well from 1K, 3K and 6K miles. 


“Where are you actually located?” 


We are based out of and operated by the National Corvette Museum. Our agent, Adam Boca,
is a employee of the National Corvette Museum.  100% of the commission goes to directly support and further the mission of the NCM.  We are not an agency or a company that the NCM endorses, we ARE the NCM. 


“I have other collector cars and you only insure Corvettes” 


While the business of the National Corvette Museum is Corvettes, the NCM Insurance Agency insures many other cars besides Corvettes.  If you have multiple collector cars or corvettes we have some of the best rates when it comes to collections.  We would love to have the opportunity to quote your street rod, muscle car, Corvette, exotic cars, kit car, vintage motorcycles, collection, etc.  Give us a shot, and let’s see if we can save you money and offer you the best customer service available. 


We hope that this helps answer questions on what we have to offer.  No matter the type or year of collector vehicle we would love to have the opportunity to provide a quote for you.  Please check out our website at www.ncminsurance.com or give us a call at 877.678.7626.

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