Insuring a sports car can be a relatively expensive proposition. Sports cars generally require higher premiums than other automobile types, and the sports car owner can expect some sticker shock when learning just how much it costs to insure a high performance vehicle. Additionally, most sports car owners want full-featured coverage for their prized possessions. Although insuring a high-end sports care will never be price competitive with insuring a traditional family sedan, there are a few things sports car owners can investigate in order to save on their insurance bills. Following these four tips, for instance, can help a sports car owner keep his or her insurance premiums lower without forcing any compromise in coverage levels.
Initially, one should check to see if any organizational memberships might reduce your insurance rate. Often, membership in national organizations can reduce your costs. Educators, government employees, labor union members and others are often eligible for discount rates but never get them because they don't realize it. Always ask your agent if there are any group memberships that can bring your cost down.
Specifically, membership in a sports car club can have a favorable impact of the size of your premium. Insurance companies often offer a reduced premium rate to particular groups of sports car owners in hopes of securing a large volume of customers.
Second, one should always conduct price comparisons. It doesn't take long to call other insurance providers and determine their rates to insure your sports car. You may find an unexpected bargain from an unlikely source, so it always pays to fully investigate your options. There are services available that will compare rates between multiple insurance providers; these can be a great place to start your price shopping. However, you may benefit from placing direct calls to various agents representing different insurers. Often, an agent, armed with the unique information you can provide, may be able to come up with a cost-saving insurance plan for your sports car.
Third, you may benefit by bringing multiple policies to the same agent. Many insurance companies can reduce the cost of your sports car's insurance if you also using them for health, life, homeowners or renter's insurance. Simply having all of your vehicles insured by the same agent can reduce your premium costs. You can often save a considerable sum by keeping as much of your insurance business as possible "under one roof." The savings may not be directly applied to your sports car automobile insurance. Instead you may find cost savings applied to another policy as a byproduct of bringing all of your business to the same agent.
Finally, ask your agent about special programs or courses that can reduce your insurance premium costs without sacrificing appropriate coverage. For instance, some companies offer discounts for those willing to take online mini-courses on defensive driving. If a student is driving a car, there may be reduced premiums offered for good grades. Some companies will offer to reduce your rate after a specified length of time if you remain accident-free. Any program of this sort might be a helpful means of decreasing the cost of your sports car insurance coverage.
It is essential to carry adequate insurance for your sports car. Skimping on coverage can hold your costs down, but may leave you inadequately protected. Alternatively, smart insurance shopping and an exploration of cost-saving options may allow you to afford sufficient coverage for your sports car at a rate far lower than you might have expected.
By remembering to ask for group specials, comparison shop, consider taking all of your business to one agent, and inquiring about special programs that might be a good fit, you can conceivably save a surprising sum on your sports car insurance coverage.