So you’ve finally bought that sweet sports car you’ve been saving up for, and now you need to buy auto insurance so you can actually drive it. However, there are a few things you should know before you buy auto insurance for your new vehicle so you’re not taken by surprise when you’re faced with high insurance rates. In most cases, insurance rates for sports cars are much higher than those for other types of vehicles for the following three reasons:
- Sports cars are generally more expensive than other cars, which means that they need to be insured for a higher replacement value than regular vehicles.
- In addition to high replacement costs, sports cars can be costly to repair, due to the difficulty of finding replacement parts and skilled technicians.
- Insurance companies consider the typical sports car driver to be less responsible on the road than drivers of conventional cars.
Besides the higher costs of the sports car itself, insurance companies will look at your personal information. In nearly every state, insurance carriers look at your credit score to determine how dependable you are financially. The higher your credit score, the lower your insurance rates. Additionally, your age and marital status are important factors in deciding how responsible you are, and of course, your driving record plays a very important role. And though you can’t really do much to change your age and marital status, you can go to traffic school to get a certificate that proves you’re a responsible driver. Think about it: a couple of hours taking a driving course can save you hundreds of dollars!