Owning a sports car is thrilling, but insuring one costs more than a typical sedan. Sports cars are built for speed and performance, which makes them riskier to insure. They’re more likely to be driven fast, cost more to repair and are bigger targets for thieves. The good news: Jerry can find you the right coverage for your sports car, fast.
Jerry has helped 859 drivers insure their cars in the past year. Here’s what you need to know about getting the right coverage.
Jerry pulls up to 20 quotes from top rated carriers.
What kind of insurance do you need for a sports car?
The coverage you need depends on your state’s requirements, whether you’re financing, and how you use the car.
Jerry recommends: \When it comes to insuring a sports car, having full coverage is usually worth it. It adds collision and comprehensive coverage, which pays for damage to your car, regardless of who caused the accident.
Get insurance for your sports car with Jerry
When you’re insuring a sports car, comparing quotes from multiple carriers is essential. Rates for the same car can vary by hundreds of dollars between insurers.
Jerry partners with over 50 insurance carriers and shows you quotes side-by-side. You can adjust your coverage levels and deductibles to see exactly how each choice affects your premium, and find a policy that balances protection with your budget.
How much does sports car insurance cost?
The cost of full coverage for a sports car is between $225 to $511 per month, according to Jerry’s customer data. But costs vary dramatically by model.
Here are average monthly costs from Jerry customers for the top 5 most common sports cars in the U.S.
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Sports car model
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Average monthly cost
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|---|
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Sports car model
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Average monthly cost
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|---|---|
| Chevrolet Camaro | $229 |
| Chevrolet Corvette | $308 |
| Dodge Challenger | $360 |
| Mazda MX-5 | $374 |
| Ford Mustang | $401 |
Factors that affect your rate include:
🏎️ Your car’s performance. Cars that can accelerate quickly will often cost more to insure.
📍 Where you live. Urban areas with higher theft rates typically come with higher insurance rates.
👤 Your age and driving history. Young drivers (under 25) can pay much more than older drivers for the same coverage.
🛣️ How you use the car. Weekend-only driving costs less than daily commuting. Low annual mileage helps, too.
💵 Your credit score. In most states, a good credit score can significantly lower your premium.
Key takeaway: Sports cars are pricey to insure, and the type of sports car you drive will have an impact on costs. Practicing safe driving habits can keep your costs low over the long term.
Why is sports car insurance more expensive?
Sports car premiums are typically higher than standard vehicles. Insurers charge more because sports cars typically have more expensive claims.
Here’s why sports cars are costly to insure:
🏎️ Higher speeds mean bigger accidents. Sports cars can accelerate quickly and reach high speeds, increasing accident severity.
🔧 Expensive repairs. Specialized parts cost more than standard car parts, and labor at performance shops can also be costly. Plus, waiting on imported parts can delay repairs.
🚗 Higher theft risk. Some sports cars are stolen more frequently than regular vehicles. Popular targets include the Ford Mustang, Chevrolet Camaro, Dodge Challenger and Nissan GT-R.
💰 Higher replacement costs. If your sports car is totaled, the payout is based on its market value, and sports cars hold value better than economy cars. This means higher potential claim costs.
Key takeaway: It’s not just about the car itself, it’s about what the data shows happens when people drive them. Insurers price based on claims history, and sports cars generate more expensive claims.
What are the cheapest sports cars to insure?
Not all sports cars cost a fortune to insure. Models with good safety ratings, lower horsepower and less theft appeal tend to have more affordable premiums.
Here are some of the cheapest sports cars to insure, according to Jerry’s data.
|
Sports car model
|
Average monthly cost
|
|---|
|
Sports car model
|
Average monthly cost
|
|---|---|
| Porsche 911 | $164 |
| Chevrolet Camaro | $229 |
| Honda S2000 | $260 |
| Chevrolet Corvette | $308 |
| Ford Mustang | $401 |
Key takeaway: Domestic sports cars tend to be cheaper to insure than imported ones. If you want performance without sky-high premiums, consider American sports cars.
How to save money on sports car insurance
Sports car insurance is expensive, but there are proven ways to reduce your costs:
📦 Bundle your policies. Combining auto and home insurance can save on your premiums.
📊 Use a telematics program. If you’re a safe driver, usage-based insurance programs like DriveShield can lower your rates based on actual driving behavior.
💵 Raise your deductible. Increasing from your deductible usually lowers your premium significantly, just make sure you can afford the higher cost in case of an accident.
🚗 Limit your mileage. If your sports car is a weekend toy rather than a daily driver, pay-per-mile insurance or low-mileage discounts can help.
🛡️ Add safety features. Anti-theft devices and tracking systems, plus parking in a garage, can qualify you for discounts.
📚 Take a defensive driving course. Many insurers offer discounts to drivers who complete approved safety courses.
✅ Maintain a clean driving record. Avoiding tickets and accidents is the single best way to keep your rates low over time.
Why it matters: Don’t just go for your state’s minimum coverage to save money, because that could leave you underinsured. Jerry recommends drivers to consider at least 100/300/100 in liability insurance to have stronger financial protection if you cause a bad wreck.
Specialty insurance for classic and exotic sports cars
If you own a classic sports car, vintage muscle car or exotic car worth over $50,000, standard insurance may not be the best fit. Specialty insurers offer features designed for collectors and enthusiasts.
Agreed value coverage
Unlike standard policies that pay actual cash value (which depreciates), agreed value policies lock in your car’s worth upfront. If it’s totaled, you receive the full agreed amount.
Flexible usage
Specialty insurers understand collector cars are driven differently. Many offer unlimited mileage for pleasure driving and car-related events.
Specialized claims handling
Specialty insurers work with adjusters who understand collector cars, OEM parts coverage and have access to specialty repair shops.
Lower premiums
Because collectors typically drive less and more carefully, specialty policies may be cheaper than standard insurance for the same car.
Speciality Insurers
For vehicles over $150,000-$200,000, specialty insurers like Hagerty, Chubb, or AIG Private Client Group may be your only option, and often provide better coverage for the price.
Key takeaway: If your classic, vintage or exotic car is worth over $50,000, specialty insurers offer better protection than standard policies, plus lower premiums since collectors typically drive less.
It only takes 2 minutes to sign up at Jerry.
faq
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🚗 What counts as a sports car for insurance?
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🏎️💨What are common models car insurance companies classify as sports cars?
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💵 Is a Mustang considered a sports car for insurance?
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📉 Does the color of my sports car affect insurance?
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🛡️ Can I get sports car insurance with a bad driving record?
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🔧 Should I get full coverage on a sports car?
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📋 Do car modifications affect my insurance?
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🏁 Can I insure my sports car for track use?
Methodology
Data included in this analysis comes from policies that Jerry has quoted within the last 6 months for drivers with a clean record and that have full coverage, unless stated otherwise. Data related to violations, accidents or credit scores pull from quote data from the last 18 months. Jerry services 48 states and offers a range of insurance companies to choose from.
Ben Moore is a writer and editor at Jerry and an auto insurance expert. He previously worked as a writer, editor and content strategist on NerdWallet’s auto insurance team for five years. His work has been published in The Associated Press, Washington Post, Chicago Sun-Times, MarketWatch, Nasdaq and Yahoo News. He also served as a NerdWallet spokesperson, with appearances on local broadcast television and quotes in Martha Stewart and Real Simple magazine.
Ben has an extensive background in digital marketing, working on affiliate and programmatic advertising campaigns for brands like Cabela’s, H&R Block and Sears. He holds a bachelors degree in marketing from Olivet Nazarene University.
