There’s not much that you can do to get around paying the high rate of luxury car insurance. Expensive cars are not only the most frequently stolen, but they can also cost a small mint to repair because in many cases, replacement parts have to be shipped from overseas and the vehicles have to be handled by capable body shops.
Most insurers and car salesmen will tell you the same thing: if you can’t afford expensive car insurance, maybe you shouldn’t buy the car. But short of giving up the vehicle of your dreams, there are a couple of measures you can take to trim down the colossal cost of coverage.
- Keep your driving record clean. Another reason car insurers charge so much for expensive sports cars is because their drivers have been known to test their vehicle’s limitations, leading to a heightened accident risk. But just because you can outrun the average police cruiser doesn’t mean you should. Drivers with good records can take advantage of discounts which could help balance the titanic cost of luxury car insurance.
- Use a less expensive car for commuting. You probably worked long and hard to be able to afford that luxury car, but it doesn’t mean you have to make your daily work commute in it. Car insurance rates are also based on how often you have your vehicle out on the road. If you can limit your use to weekend pleasure cruises and buy a modest car for commuting back and forth to work—or take public transportation—you could make a significant dent in your insurance premium.