When young drivers zip around in their snazzy high-performance sports cars, insurance companies see red. The combination of youth and high-priced, high-end vehicles is a particularly harrowing mix from the insurer's point of view, and you will see that translated into high insurance premiums. But don't fret, there are ways to get the insurers on your side so that your souped-up ride doesn't have to cost a fortune over the long run.
Pick the Right Sports Car
The insurance premium on your sports car will be based on a variety of factors such as horsepower of the vehicle, make, model and year of manufacture. Modifications to the engine to enhance power can also bolster your rates. You can place yourself on a better footing to have lower insurance if you stay away from sports cars that insurers find problematic. Some sports cars may be considered especially risk-pron,e while others, such as classic sports cars, may cost less to insure because they can be serviced for lower labor costs at a regular auto body shop, according to the website CarInsuranceComparison.com.
Beef Up Your Car
Outfitting your sports car with extra safety features will show insurers that you are serious about safety and help bring down your rates. You can take such steps as installing approved devices such as anti-lock brakes, air bags and anti-theft alarm systems to lower your premium costs. Consumer car site Autos.com says that placing your high-performance vehicle in a secured garage can also help reduce premiums.
Apart from tweaks to the sports car itself, you can also work on ways to enhance your standing as a driver to improve your insurance rates. Take defensive driving classes and keep your credit in good order to give yourself the best chance of obtaining lower rates. Another tactic is to reduce the number of miles you drive in your sports car annually.
Overwhelming though it may seem to whittle down your sports car insurance rates, small changes taken on the whole can have a cumulatively beneficial effect. Speaking to an insurance specialist who is familiar with the concerns of sports car owners can help you locate bargains more effectively than if you went with a "regular" auto insurance agent, who may charge you more. Insurance shopping site NetQuote.com suggests paying your insurance in cash as a lump sum rather than in installments to save 5 percent. It also recommends bundling auto and home insurance for lower rates, and paying a higher deductible in exchange for lower premiums.
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