So, you just purchased that brand new, cherry-red, Ferrari F430 Spider and you are anxious to get it legal and get it out on the road. Who wouldn’t you be? With 486 horsepower, incredible F1-technology, and a top speed of almost 200 mph, this little number is sure to turn heads – especially the heads of insurance companies.
Aside from the fact that it probably already cost you a fortune to purchase, and the upkeep is going to be insanely expensive, this flashy sports car is also going to cost you much more in car insurance than your average four-door sedan. Why? Because of its sports car status.
Not only are sports cars considered more dangerous than most other kinds of cars (let’s face it – if you owned a car that could top out at almost 200 mph, wouldn’t you want to push that baby to the limit…just once?), they are also more likely to be burglarized and even stolen. When people see showy sports cars, they think the owner must have tons of money. If a thief, or anyone else for that matter, happens to be a little short on cash, and if the owner of such a fancy sports car obviously has tons of money, breaking into the car and taking whatever isn’t bolted down seems like the perfect business opportunity. In some cases, the thief will just take the entire car and run – or, drive, rather.
Since car insurance companies see sports cars as more of a risk, sports car insurance is going to be higher; however, that doesn’t mean you can’t find cheap sports car insurance as far as sports car insurance goes. Consider purchasing your car insurance policy from the same insurance company that provides your health, home, or life insurance. Or, shop around, making sure to research several car insurance companies that offer financial solidity and even discounts – never settle on the first one you find.