Sports cars cost more – think before you buy that speedster

1169486_motorwayCar insurance companies compile statistics about accidents, driver’s age and experience, and speed to make equations to determine premiums. It should not come as a surprise that cars that cost more and have higher top-speeds also cost more to insure than small economy cars.

To generalize, sports cars that go fast are driven by people that like to go fast. These drivers tend to take more risks, drive faster, and get in more severe accidents than other drivers and insurance companies have the statistics to back it up. Just high speeds alone will make accidents more severe, and therefore more expensive.

Sports cars, too, tend to be more flashy than normal cars and are therefore more prone to vandalism. Car thieves don’t want to steal some old rust bucket that looks like it won’t start or go over 55mph, they want to take your new candy red speedster for a joyride. It’s all in the statistics and your insurance premium proves it.

If you still want a fast car, know that insurance will be more affordable the more driving experience you have. There are specialty insurance companies that insure the really expensive sports cars, so shop around before you buy insurance. You can also save money if this isn’t your only car and you don’t drive many miles in a year.

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