Sports Car Insurance: Just the Facts

You own a sports car, and it’s the coolest car in the neighborhood. You’re the envy of all your neighbors. But while you’re busy showing off your vehicle, there’s one crucial thing you may be neglecting: sports car insurance. If you own a sports car, it’s your responsibility to protect it with a good sports car insurance policy. If your vehicle is underinsured and you’re involved in an accident, you’ll be left footing the bill for any losses beyond your policy limit.

Sports Car Insurance – How Much Is Enough?

The first thing to consider when shopping for sports car insurance is the amount of coverage you need. If you’re driving a classic sports car that you fixed up in your garage, you probably don’t need a ton of coverage to keep it safe. But if you’re cruising around town in a brand-new luxury sports car, you probably need a relatively high level of coverage to cover any potential losses.

Most insurance experts recommend that you have at least $100,000/$300,000 of Bodily Injury coverage and $100,000 total of Property Damage Liability coverage; if your car value is higher than average, you may want to consider purchasing additional coverage.

Is the State Minimum Enough?

Some sports car drivers may feel tempted to purchase the minimum amount of coverage required by law in their state, but that may be a disastrous financial decision. While the state minimum may keep you in compliance with state laws, it may not be enough to cover the losses if you have a major incident. Only a car insurance agent can help decide what coverage level is best for you and help you find a low car insurance rate.

Sports Cars Need Comprehensive Coverage, Too

Unless your sports car is an old, beat up remnant of decades-old engineering, you probably need to protect it with comprehensive coverage. Comprehensive coverage is the portion of a sports car insurance policy that covers non-collision damage such as auto theft, vandalism and storm damage. Without comprehensive coverage, your policy won’t cover this damage.

Additionally, expensive aftermarket parts (such as rims or valuable engine components) may require additional insurance coverage.

Just because your sports car has two seats and a big engine doesn’t mean you can’t find an affordable sports car insurance policy. Shop around for free car insurance quotes with InsWeb.com and see if you can find a policy that fits your needs.