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Sports Cars Don’t Trigger Higher Insurance Rates

spi-3Contrary to popular belief, sports cars don’t trigger higher insurance rates. The type of car you drive will not affect your premiums, according to insurance industry experts. Instead, a number of other factors which have little or nothing to do with the class of car you tool around in will impact car insurance rates.

Many factors are used to calculate insurance rates, including age, driving history, the value of your car, your zip code and credit score to name a few. A person with a lot of tickets who drives a minivan will probably have a higher rate than a Corvette driver with a clean driving record. A 50-year old who drives a Porsche might pay a lower rate than a 20-year who drives a Prius.

The reason insurance rates on many sports car models are higher is the cost of the vehicle, not the vehicle itself. A Porsche or a Jaguar will cost more to insure because it will cost more to replace or repair. If you finally get that raise and decide to splurge on your favorite imported sports car, be ready to pay more for insurance.

80% of All Drivers Overpay for Insurance. Do You? Start Saving Now. A low end older sports car might actually cost less to ensure than many brand new sedans. Yet driving an older sports car might cost more if it lacks modern safety features such as airbags, seatbelts and OnStar. Many insurance companies give you a break for having these in your vehicle. They might charge you more for your collector sports car which lacks such amenities.

The amount you drive the vehicle can also affect the rates, with many insurers giving you a break on a car you drive occasionally. Some also offer collector car insurance for such vehicles.

However, some insurance companies do charge more for high performance cars. They might increase your rates if you buy a car with more horsepower. Shopping around can get you a lower rate on insurance for a sports car. Don’t just use your existing insurer if you buy a sports car, check out several different companies to see what they offer on Wise Insurance Quotes.

Check to see if the companies offer special deals on particular classes of cars such as collector cars. You can also check to see if the company charges more for high performance cars. Extras can lower insurance rates on a sports car. Some companies might give a break for a vehicle with modern features. They may also charge less for a car with an alarm system or theft detection device because sports cars are more likely to be targeted by car thieves than normal vehicles.

Don’t despair sports car lovers, most experts say that if you have a good driving record you will pay only a few dollars more a month to insure most sports cars. That means you could drive the vehicle of your dreams without paying a fortune for insurance.