March 2, 2011

Three Reasons That Sports Cars Come With Higher Insurance Costs

Sports cars are small vehicles constructed with maximum speed and maneuverability in mind. Generally, they are two door models, although automakers have been known to manufacture four door models as well. These automobiles are a must buy for anyone looking to hit high speeds, weave through lanes like a professional and accelerate quickly from a dead stop. Unfortunately, many consumers who have recently purchased a sports car find themselves in for a shock when it comes time to get an auto insurance quote. Sports car insurance is higher than insurance for any other type of vehicle. This is due mainly to the vehicle's small size, capability of achieving high speeds and the cost of replacement parts.

Size is a factor in the higher cost of sports car insurance because small cars can withstand less impact in the event of an accident. A crash that would only cause body damage to a truck might render a sports car completely inoperative. Naturally, when a car has a higher risk of receiving severe damage, it will cost more to insure.

When a car is capable of hitting high speeds, it also brings with it an increased risk of speeding tickets. Furthermore, the faster a vehicle is, the more likely the driver is to lose control of it and end up in a collision. Crashes at high speeds cause far more damage than crashes at moderate speeds, which result in higher repair costs for vehicles with a high speed potential. For these reasons, a car with the capability for achieving high speeds will have a higher auto insurance quote.

To achieve the high speeds and supreme maneuverability that they are known for, sports cars are finely tuned and expertly crafted pieces of machinery. Instead of the stock parts from which other vehicles are constructed, sports cars generally are built from unique parts, parts designed to keep the car at the head of its class. These unique parts are far more expensive and even to routinely maintain than stock parts, which means that they cost more for the insurance company to insure. The insurance company then passes this extra cost onto the consumer in the form of higher insurance rates.

Car insurance companies keep data on different models of cars and the average cost of insuring them. Time after time, this data has proven that sports cars are more costly to insure and, as a result, their owners are hit with higher insurance quotes. With their small size, their capability of reaching high speeds and the higher cost of replacing and maintaining their parts, a sports car owner should be prepared to be hit with a high auto insurance quote.