Do Sports Cars Cost Higher Insurance Premium?

Do Sports Cars Cost Higher Insurance Premium? ( Code 0093 )


Do Sports Cars Cost Higher Insurance Premium?

Do Sports Cars Cost Higher Insurance Premium?

For a vehicle lover, owning a sports car is a lifetime goal, and maintaining it is a lifetime responsibility. Given the expense of a sports vehicle, it’s crucial to safeguard them with the best car insurance policy that provides adequate coverage. Without a doubt, a sports car  requires expensive upkeep, which not everyone can afford. With enhanced power and torque, these vehicles operate incredibly well. Only at a certain speed can you enjoy the excitement of driving a sports vehicle.

Consequently, this kind of car  has a significant danger factor attached to it. No matter how severe the damage, it generally costs more than one lakh to fix. Sports car insurance is essential as a result. To know more about sports car insurance having high premiums, read on.

What Are The Factors That Can Affect The Premium Of Sports Car?

Following are the factors that can affect the premium of sports car –

IDV – The insured declared value, or IDV, is a significant element in determining a car’s insurance cost. In comparison to a regular automobile, a sports car costs more. As a result, both its IDV and insurance premium are greater.

Pricey Auto Parts – The components of these fast automobiles are pricey. If your sports car is involved in an accident, the replacement parts will be far more expensive than those for a regular vehicle. Due to their limited manufacturing, sports vehicles’ replacement components are sometimes difficult to find. As a result, they cost more to fix than a typical automobile.

Vehicle Usage – The likelihood of being in an accident increases the more you drive your sports vehicle. The premium will be hefty as a result. However, you could have to pay a reduced premium if you already own one or more regular automobiles and just use your sports car occasionally for pleasure drives.

Threat Of Theft – Theft is more likely to happen to sports automobiles. If the automobile is stolen, replacing it will be more expensive than replacing a regular car.

What Kind Of Coverage Can Help Sports Vehicles?

You must get a comprehensive plan for sports vehicles that includes coverage for your personal damage, accidents, etc. Following are the kind of coverage an individual can get to upgrade an individual’s insurance to meet sports vehicle requirements –

Zero Depreciation Cover – Depreciation amount is relevant to all machines. However, if you have a sports automobile, you must shield it from this danger. By fully ignoring the depreciation value during the claim procedure, this optional add-on protection will save out of pocket costs. Typically, the depreciation value is subtracted from the claim settlement amount when a policyholder files a claim for any type of repair or replacement of parts. However, you may prevent it with the zero depreciation cover.

Engine Protection Cover – The engine is a sports car’s most important component. The engine is the  brain and heart of the car. Although the majority of sports cars have cutting-edge engine designs, any repairs to these parts will cost at least a quarter of the car’s worth. If you have engine protection coverage, the insurer will pay for any necessary repairs or replacements up to the policy’s maximum limit . It provides coverage for  oil leaks and engine failure. Some of the engine designs can be from a small production run that is expensive to replace or repair because components are hard to come by. Consequently, this add-on cover has a premium price.


In summary, sports cars are fashionable, sophisticated, and a favourite among people searching for fast, powerful automobiles for leisurely drives. To safeguard their expensive four-wheeler against mishaps and other dangers, one must pay a higher price for sports vehicle insurance. However, as was already said, a number of things will affect the cost of your auto insurance.

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