Best Auto Insurance Companies for Sports Cars (2022)
Whether you are buying a new sports car or changing your auto insurance provider, the best auto insurance companies for sports cars might be surprising. Also, you can save by choosing the right sports car because not all companies will insure a high-performance sports car. Even the cheapest sports cars to insure might cost you between $1,200 and $2,000 a year. That said, top companies like GEICO and Nationwide might be among the most affordable car insurance companies for sports cars.
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UPDATED: Jun 29, 2022
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Table of Contents
- Sport car insurance tends to be more expensive due to the risk that comes with those types of cars
- When seeking the best car insurance companies for sports cars, look at all the coverages they offer, as well as discounts
- Nationwide might offer the cheapest rates for sports cars, but USAA covers more sports car types than most other companies
What are the best car insurance companies for sports cars? If you are thinking about purchasing a new sports car, consider how expensive the insurance is and whether some companies will cover your sports car at all.
Ultimately, your insurance costs depend on the type of sports car you have and the level of coverage you want. The costs also depend on the age of the insured.
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Most car insurance companies will not insure high-end sports cars like a Lamborghini because they are so expensive. Also, high-end sports are faster, and thus they have a much higher risk of being totaled or stolen.
That said, some top car insurance companies will cover sports cars. However, it may be difficult to find cheap auto insurance for those cars because they still present a higher risk than other cars, trucks, vans, and SUVs.
If you want to find the most affordable, best car insurance companies for sports cars, you might not have to look any further than the companies with the largest market shares. We discuss the coverage these companies offer for the cheapest sports cars to insure, along with sample rates.
More: Best Auto Insurance Companies That Insure Modified Cars
Are you eager to look at rates from top companies in your neck of the woods? Then you can enter your ZIP code into our quote tool above.
Table of Contents
What are the best auto insurance companies for sports cars?
The best car insurance companies for sports cars include Allstate, GEICO, Nationwide, Progressive, State Farm, and USAA. These companies will cover mid-size sports cars with impressive coverage levels and discounts.
| Company | Monthly Rates | Rates for Six Months | Yearly Rates |
|---|---|---|---|
| Allstate | $195.08 | $1,170.45 | $2,340.90 |
| GEICO | $129.19 | $757.16 | $1,514.32 |
| Nationwide | $109.14 | $654.84 | $1,309.68 |
| Progressive | $172 | $1,032.01 | $2,064.01 |
| State Farm | $125.29 | $751.61 | $1,503.22 |
| USAA | $124.97 | $749.82 | $1,499.63 |
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GEICO, Nationwide, and State Farm might offer the cheapest insurance for sports cars for companies of their size. State Farm also covers most sports cars, and you can save even more with State Farm because it offers safe driving discounts.
GEICO has an edge because it offers mechanical breakdown insurance and generous discounts, particularly for military members and people with memberships in professional organizations.
Although Allstate might offer the most expensive sports car insurance, it has a fuller package than the other companies. You can essentially get all coverages with a sports car as you would normally. Allstate also offers safety discounts for sports cars, including:
- Passive-restraint systems
- Anti-lock brakes
- Anti-theft devices
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In addition, all other discounts are available to you, including multi-car insurance discounts.
Progressive may not insure the high-end sports cars, but it does offer a suite of discounts to help bring down your monthly rates. That includes bundling.
USAA might be better than the rest because it does cover “exotic” and high-performance sports cars. However, the company only serves members of the military, veterans, and their families. If you are in the military, this might be the right insurance company for your sports car.
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How much does it cost to insure sports cars?
More: Exotic Car Auto Insurance Coverage
Here are some of the cheapest sports cars to insure:
| Make and Model | Average Monthly Full Coverage Rates | Average Six-Month Full Coverage Rates | Average Annual Full Coverage Rates |
|---|---|---|---|
| BMW Z4 Roadster | $152.07 | $912.41 | $1,824.81 |
| Chevrolet Corvette Stingray | $155.13 | $930.80 | $1,861.60 |
| Ford Mustang | $156.45 | $938.71 | $1,877.41 |
| Mazda Miata | $125.08 | $750.50 | $1,501 |
| Porsche Boxster | $153.92 | $923.51 | $1,847.02 |
| Subaru WRX | $164.44 | $986.64 | $1,973.27 |
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Note that the cost of auto insurance has gone up across the board in 2021. These rates are relatively reasonable for the car type.
Why does sports car insurance cost so much?
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Many factors affect car insurance rates, but the top factors for sports car insurance rates are the vehicle type and level of coverage.
- Sports cars tend to be smaller and have only two seats. Also, they will not hold up as well as larger vehicles in a car crash.
- A sports car has more horsepower, so the person driving it may be tempted to go at higher speeds. That increases the likelihood of an accident.
- Since sports cars are attractive, they are more likely to be stolen.
Given these factors, you will want to have a little more coverage if you own a sports car, which will lead to higher rates. And if you are looking for sports car insurance for an 18-year-old, or sports car insurance for anyone under 21, you will end up paying more regardless.
What should you look for in auto insurance companies that insure sports cars?
Just like you would with most other vehicles, you want to get standard auto insurance coverage. There are six basic types of auto insurance coverage. These include collision and comprehensive coverage.
You might not need to carry all types of auto insurance coverage, but you must buy the minimum for bodily injury and property damage liability insurance in every state.
In select states, you may need to carry personal injury protection (PIP), medical payments (MedPay), and/or uninsured/underinsured motorist coverage as well.
Besides general coverages, you need to look for car insurance discounts. For example, you may be able to save on your insurance if you have a multi-car policy. Some other companies may allow you to use the multi-policy discount if you buy more than one type of insurance.
How to Find the Best Auto Insurance Companies for Sports Cars
If you want to buy car insurance from the best car insurance companies for sports cars, you do not have to compromise quality in coverage for the cost. Some of the top insurance companies in the nation might be able to cover your sports car based on the make and model.
Look into opportunities to bundle and stack discounts. Safety discounts may be your best bet, especially if your sports car comes equipped with anti-lock brakes and passive restraints.
Do shop around and ask for quotes, even from local car insurance companies. You might find one of the best auto insurance companies for your sports cars in surprising places.
Now that you’ve learned a little about the best car insurance companies for sports car insurance, are you ready to see rates for top companies in your area? Just enter your ZIP code into our free quote tool below.
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Written by
Rachel Bodine |
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Reviewed by
Daniel Walker
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