Delaware Sports Car Insurance

The law requires everyone to carry insurance on their automobiles, so sports cars are no exception. You need sports car insurance to protect your vehicle and your life. Historically, sports cars cost more to insure than other cars. Auto-industry executives know what many youthful drivers and their parents have learned by painful experience is that the monthly premium on a high-performance car for a young driver might be nearly as high as the monthly loan payment. Part of the additional cost relates to both the performance potential of the car and the presumption that it might be driven aggressively and part of the inflation in cost is due to the age and inexperience of the driver.

·          Discounts and surcharges can apply to collision and comprehensive coverage, which includes theft claims. Cost differentials can have significant impact on total insurance bills, especially for male drivers 25 years old and younger, who typically pay the highest premiums.

·          Vehicle Safety Discount of up to 40 percent, which is applied to the medical payments and personal injury portion of the premium. A number of sports cars get a 30 percent reduction, while others get only a 10 or 20 percent discount.

·          Even if you’re not required to pay a surcharge on a portion of the premium, the Corvette, Boxster and any Ferrari will still cost more to insure than the average vehicle, simply because they are more expensive to buy and to repair, if damaged.

·          Auto theft is big business, and it’s on the rise — up 1.2 percent. Obviously, cars with fabric tops are more vulnerable to theft and vandalism, but statistics are sketchy. Most of today’s more costly sports cars have theft-deterrent systems.

·          Some people put a limited number of miles on their favorite sports car and use another vehicle for everyday use. This being the case, you could be paying for your sports car insurance to cover your vehicle for 24 hours a day seven days a week even though you don't drive it that often. With specialty car insurance, you are covered at all times but with the understanding that you put a limited amount of miles on your car.

    Each insurance company has its own list of vehicles with surcharges, discounts and standard rates based on their claims experience. In addition, the category into which a specific sports car falls can change from year to year. Check with your insurance company before you buy a new sports car to calculate how a particular model will affect your premium. Shopping around for sports car insurance is always wise, because rates can vary significantly depending on a company’s own claims experience.