Table of Contents
- What Is Sports Car Insurance?
- How Much Does Insurance Cost for a Sports Car?
- Average Cost of Insuring a Sports Car
- What Do Insurance Companies Consider to Be Sports Cars?
- What Coverage Do You Need for a Performance Car?
- Which Sports Car Has the Cheapest Insurance?
- Which Sports Car Is the Most Expensive to Insure?
- How Can You Save Money on Sports Car Insurance Rates?
- FAQ
The average cost of insuring a new sports car will vary based on the model. For instance, full coverage on a Honda CR-V costs around $1,932 a year, which is a bargain compared to the $3,400+ figure you’ll pay annually to insure a BMW i8.
What’s more, the cost difference between insuring a sports car and a standard vehicle can range from a few hundred dollars to a few thousand dollars. The average cost of full coverage for a conventional car is around $2,524 a year.
To help you decide if purchasing a hot new ride makes sense, read on to find out details about how much insurance costs for a sports car and the factors that can impact your premiums.
Key Points
• Sports car insurance is more expensive than conventional car insurance due to the risks involved in driving sports cars and the higher repair costs.
• Insurance costs differ by model, with the Maserati Quattroporte among the priciest.
• Full coverage for a sports car typically includes liability insurance, personal injury protection, and gap insurance.
• Factors influencing rates include the driver’s age, the car model, and the state.
• Ways to reduce insurance costs include maintaining a clean driving record, bundling policies, and taking advantage of discounts.
What Is Sports Car Insurance?
“Sports car” is a common term used for small, low-built cars designed for performance at high speeds. Sports car insurance refers to typical auto insurance for a sports model. Drivers generally have to pay more to insure a sports car because of the higher sticker price and greater perceived risk.
Sports cars usually have top-of-the-line engines that drivers can easily push to high speeds, upping the likelihood of an accident or speeding ticket. Sports cars tend to be more expensive to repair and replace because their parts are costly to manufacture. As a result, insurers often charge drivers more to cover sports cars.
Need to brush up on your vehicular vocabulary? Check out SoFi’s roundup of car insurance terms.
How Much Does Insurance Cost for a Sports Car?
Sports car insurance can range from $1,980 for a Mazda Miata to $7,090 for a Maserati Quattroporte. Keep in mind that these numbers are averages. Your costs will depend on many factors, such as your age and your car’s age, the security features installed in the vehicle, the state you live in, and how much you drive.
Parents and teens may both benefit from some insurance tips for new drivers.
Average Cost of Insuring a Sports Car
Here’s a table outlining the average cost of insuring a sports car, by make and model.
| Make and Model | National Average Rate |
|---|---|
| Maserati Quattroporte | $7,090 |
| Maserati Ghibli | $6,601 |
| BMW M8 xDrive | $3,800 |
| Audi R8 | $2,584 |
| Nissan GT-R Nismo | $2,350 |
| BMW M5 | $6,500 |
| Tesla Model S | $4,500 |
| Porsche 911 | $4,270 |
| Dodge Charger | $2,392 |
| Jaguar F-Type | $3,000 |
| Dodge Challenger | $1,750 |
| Chevrolet Corvette | $2,999 |
| Mazda MX-5 Miata | $1,980 |
What Do Insurance Companies Consider to Be Sports Cars?
Although there isn’t a universally agreed-upon definition for sports cars, they typically have powerful engines with more horsepower, two seats, and a smaller overall engine size. Sports cars get their name from the sport of racing, which inspires their engine specs and body shape. Manufacturers design sports cars to be small, fast, and maneuverable.
Car enthusiasts and connoisseurs appreciate the expertise and craft that go into making sports cars. But because anyone with a driver’s license can get behind the wheel of these thrilling and potentially dangerous vehicles, insurance companies tend to charge higher premiums. Still, it’s possible to find affordable car insurance for many sports models.
What Coverage Do You Need for a Performance Car?
Because of a sports car’s higher value, drivers tend to choose maximum vehicle coverage over minimum car insurance. Full coverage can vary but tends to include the following:
Liability Insurance
If you’re at fault in an accident, liability insurance covers the cost of injuries and property damage to any others involved. It can also cover legal fees and court costs if someone sues you after an at-fault accident. Most states require some level of liability insurance.
Comprehensive and Collision
This coverage provides complete damage coverage for your vehicle if it’s been beaten up by a storm or after an accident. If you lease or finance your sports car, your leasing agent or lender will likely require this coverage.
Uninsured/Underinsured Motorist
Uninsured motorist (UM) coverage protects you if you collide with someone with limited or no auto insurance. If someone else causes an accident and they don’t have enough insurance, UM will cover your medical bills up to policy limits. Some states require UM coverage.
Recommended: How Much Car Insurance Do I Need?
Personal Injury Protection
Personal injury protection insurance covers medical bills, lost wages, and funeral expenses after an accident, regardless of who caused it. Some states require this type of coverage.
Gap Insurance
When a newer car is totaled, standard insurance will reimburse you the car’s actual cash value (ACV), which may be less than the amount left on your loan or lease. Gap insurance covers the gap between the vehicle’s ACV and the amount you owe, minus the deductible.
Learn more about how gap insurance works.
New Car Replacement
New car replacement operates similarly to gap insurance by covering the cost of purchasing the same make and model of the vehicle that was damaged, after the deductible.
Which Sports Car Has the Cheapest Insurance?
The sports car that’s cheapest to insure is the Mazda Miata, with an $1,980 average annual premium. That may be because Mazda is known as one of the safest car brands on the market. In 2025, eight of its cars earned the Insurance Institute for Highway Safety’s Top Safety Pick+ award.
For a deep dive into the process, read about how to get car insurance.
Which Sports Car Is the Most Expensive to Insure?
According to Insure.com, the Maserati Quattroporte is one of the most expensive sports cars to insure at $7,090 annually on average. Maserati is a renowned exotic car manufacturer whose vehicles are both expensive and exclusive. The Quattroporte is a supercharged luxury sports sedan.
How Can You Save Money on Sports Car Insurance Rates?
Although sports cars are expensive to own, you can lower the cost of car insurance by following these tips.
Take Advantage of Discounts
Insurance companies reward drivers with discounts for various efforts, such as avoiding tickets and driving less. As a sports car driver, you can take these steps to reduce insurance costs:
• Install an anti-theft device.
• Do the bulk of your driving in another car. For example, you could commute with an economy car and take your sports car out on weekends.
• Keep a clean driving record, free of accidents and tickets.
• If you have multiple vehicles, insure both with the same company for a potential price reduction.
• Purchase your homeowners or renters insurance from the company providing your auto policy to receive a discount.
• Pass a driver safety test.
• Install a tracking device to record your driving habits.
Increase Your Deductible
Insurance deductibles and premiums have an inverse relationship. If you choose a high deductible (the amount you pay before your insurance covers the remaining costs), your monthly premiums fall. Therefore, you can change your policy to pay more if you get into an accident, making your policy more affordable on a monthly basis.
Shop Around
Requesting quotes from multiple insurance companies allows you to compare insurance packages and find the best price. Regular personal insurance planning sessions can make sure you’re saving money on all of your policies.
Switching car insurance may seem counterintuitive if you believe what you’re paying is affordable, but it doesn’t hurt to check. Bundling may help reduce insurance costs, or you might find an outstanding deal with an insurer that beats the discount your current insurance company offers. Online insurance may offer lower rates than traditional insurers.
The Takeaway
Sports cars are fast, fun vehicles that make driving exciting — and expensive. While their agility and speed are enjoyable, their insurance costs can be prohibitive, especially for younger drivers. However, you can reduce insurance costs by avoiding the most expensive sports cars, such as Maseratis, and driving more modestly priced models, like a Mazda Miata. Also, older, “classic” sports cars don’t have the same insurance upcharge as newer models. And, of course, it’s worth maintaining a clean driving record.
When you’re ready to shop for auto insurance, SoFi can help. Our online auto insurance comparison tool lets you see quotes from a network of top insurance providers within minutes, saving you time and hassle.
SoFi brings you real rates, with no bait and switch.
FAQ
Is it more expensive to insure a sports car?
Generally speaking, yes, it costs more to insure a sports car than a conventional car. For example, full coverage on a Maserati Quattroporte can cost $4,116 a year, while the average cost of full coverage for a conventional car like the Subaru Forester can be as low as $1,200 a year.
Does insurance go up when you buy a sports car?
Since sports cars tend to be faster than standard cars (which increases the probability of an accident), it usually costs more to insure one. They’re also generally more expensive to repair.
How can I lower my insurance on my sports car?
You can lower your insurance on your sports car by building a favorable credit score, maintaining a clean driving record, bundling multiple types of insurance, and fulfilling specific conditions from your insurance company. For example, you might install a car alarm or reduce your monthly miles driven to receive discounts on your premium. Also, shopping among insurance companies for the best deal could help you find a lower rate.
Photo credit: iStock/Arand
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