Planning to buy a new car? Well, it is the most blissful feeling. However, you don’t just have to have money to buy a car, but you must also keep some amount to get it insured as well. If you have plans to buy a sports car, but also want your insurance premiums to below, then let this article be your guide to find cheap insurance options for fast cars. In this guide, we have discussed the importance of car insurance, why sports cars are expensive to insure, and which fast cars with cheap insurance you can buy.
Why is car insurance vital for car owners?
Buying your dream car is like an achievement. Once you become a car owner, you have to make sure that your car is insured. Why? For starters, it is illegal to drive an uninsured vehicle in the US. So, if you don’t have insurance yet, then do it before anything else.
Insuring your car may seem like extra cash going out of your pocket. However, it is for the better. If you get into an accident, you won’t have to pay from your pocket. Instead, you can claim your insurance to get the repairs or fulfill any liability costs.
Why is car insurance expensive for fast sports cars?
Getting your sports car insured will cost you more. There are three primary causes attached to it. First and foremost is that sports cars are highly prone to accidents. Sports cars have a high-performance engine, which means high speed and accidents may occur due to speeding.
Secondly, as these sports cars are expensive and attractive, there are high chances that it can be looted or someone who has a grudge against the owner may damage it.
Lastly, sports cars have specific parts that are too expensive to buy. If a car gets into an accident, the parts would be costly.
Can you save money on premiums if you buy a sports car?
Although sports car insurance is very costly, you can use various discounts to reduce your premium cost.
One of the most attractive discounts is a safe driver discount. You can get around 40% off if you don’t have any traffic violations or speeding tickets from the past three to five years. Moreover, you can also save cost by contracting the same company with whom you have your house insurance or any other insurance. The company would bundle your insurance, which means you will save some bucks.
Apart from the bundling discount, if you choose a car with better safety features, you can be eligible for a discount. Also, if your sports car is convertible, then you will have cheaper insurance. Furthermore, we have listed down a few fast cars with cheap insurance.
Best fast cars with cheap insurance
On average, a Nissan owner pays around $1,900 per year as insurance premiums. If you own an older model than Nissan 370Z, the cost may decrease more.
Ford Mustang GT
Ford Mustang is among few fast cars that have lower insurance rates, yet the speed is amazing. It can go around 60mph within five seconds. The insurance rate per year of this beast is as low as around $1,600 to $1,800 per annum.
Porsche is not an affordable car to insure. However, Porsche Boxster is one exception. On average, a Porsche Boxster owner pays around $1,600 per year as insurance.
This beast has similar horsepower as Mustang, which makes it perfect to be in our index of fast cars. Unlike the high insurance rates of other fast cars, Camaro costs you $1,600 per annum on average. However, the cost may vary from state to state.
If you are brand conscious yet want an inexpensive fast car to insure, then Audi S5 is an ideal deal for you. It is another version of Audi A5, but it has higher performance. Moreover, you will have to pay around $2,000 yearly for insurance.
Subaru WRX STI
Usually, four-door sports cars are more expensive to insure than two-door cars. However, that is not the case with Subaru WRX STI. It is as cheap as $1,700 per year to insure. However, it cannot be said to be the fastest car compared with others on the list, but it is surely faster and more stylish than others.
We hope that the information you were seeking have been provided. If you are planning to buy a fast car and don’t want to pay extremely high insurance premium, then you know what to do.
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