Does Your Sports Car Need Auto Insurance?

When only bankrollers can afford them, there are people for whom buying sports car always a dream! However, owing to the sky-high cost of one, people think for several times before purchasing one as it is a lifetime affair and you can’t take any risk.

Read more

Compare & Save upto 85%* on Car Insurance
Get Car Insurance starting
@ only 2094/year#
  • Renew Policy In2 Minutes

  • 20+ Insurers To Choose From

  • 51 Lakh+ vehicles insured

#TP price for less than 1000 CC cars. All savings are provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.

So, if you are planning to purchase one, you can’t avoid the possible risk factors associated with it. While these cars perform exceptionally well, their maintenance is equally expensive. Even a small damage may cost in lakhs and cause you a huge monetary drain. But even these cars can be covered by car insurance which takes care of all unplanned expenses related to your sports car.

In this article, we will discuss how you can cover your prized possession with a car insurance plan. But before going to the insurance plans, let’s have a look at some of the sports cars that are trending in the market.

Top Sports Cars

  • Ford Mustang GT - Counted among the classiest cars in the world, this car has a 3-litre engine, cruise control, seat-side and knee airbags, six-speed manual transmission, an occupancy sensor, and other features to protect you while you drive.
  • Porsche Cayman - The features of Porsche Cayman are almost same as the Ford Mustang. The only difference is that it comes with 20 inches aluminium wheels.
  • Chevrolet Corvette - An engine with a capacity of 6.2-litre with an intercooled supercharger is an added feature in this car. The other features include anti-lock brakes, airbags, a seven-speed manual transmission etc.
  • Mercedes-Benz AMG GT - This car has a 4-litre engine capacity with twin turbo.
  • Lamborghini Huracan - With two doors and two seats, this is considered to be the top sports car that people dream of purchasing.
  • Nissan GT-R - It has an engine with the capacity of 3.8 litres and comes with twin turbo feature and navigation system and comes with an anti-lock system.
  • Audi TTS - Counted among the coolest sports cars with all the necessary sports car features.

Insuring these Sports Cars

Top Indian car insurance companies offer a great coverage for these luxury cars. So, from now on, you need not worry about the safety of your car. These cars covered by a larger insurance plan. As per the data, 50 motor insurance groups have segregated various car models into categories such as sedan, hatchback, sports car etc. In case your car falls under a higher car group, the insurance designed for this car would be more expensive. As sports cars come under top car groups, it ensures a larger insurance coverage.

Here’s How the Make and Model Affects its Car Insurance

Many car models from the same manufacturer can fall in the same car group. For instance, 10 of Porsche’s models come under the Group 50 while Mercedes races in with 22 models.

At the time of offering insurance, the insurer considers the price of the car, charges that may be incurred in repairs, cost of the spare parts, etc. and calculates the premium accordingly. Also, in some cases, they may check if your car has the needed safety features or not. Hence, ensure that your luxury asset has basic safety features.

Things to Consider Before Insuring Your Sports Car

  • Ensure that your car insurance covers your luxury car under all situations. By being clear about everything beforehand, you can avoid rude surprises at the time of claiming the insurance.
  • Get car insurance quotes from different companies online and after comparing them, choose the one that meets your insurance needs.
  • It is beneficial if you choose the Money Back plan as it can help you at the time of availing insurance for a lost car. But it is possible only if the insurer offers this facility. So, consult with an insurance advisor before taking a plan. Moreover, money back plan is more secure.
  • Try buying the car insurance from the insurance company from which you have bought other insurance policies. This way you can bargain with the insurer and avail some good discount.

In a Nutshell!

Cars are a very special asset. It is more precious when it is a sports car. You invest a huge portion of your hard-earned money in buying one. So, protecting it from every eventuality is your responsibility. By investing a small portion in car insurance, you can safeguard your asset. At the same time, you shouldn’t rush to a conclusion. Take your time, look around, and then buy one. With an informed decision, you can not only get the best deal but also enjoy rewarding insurance services.

We hope this article clears your doubt about whether to take insurance for a sports car or not. Hence, whenever you plan to take home your prized possession, consider buying a sufficient risk cover to protect it!

Find similar car insurance quotes by body type

Hatchback Sedan SUV MUV
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
 Why buy from policybazaar

Car insurance articles

Recent Articles
Popular Articles
Is Nut Bolt Covered Under Car Insurance?

06 Dec 2022

No, any damage to the nut bolt or any other consumable of your
Read more
What Happens When You Only Have Third-Party Insurance?

05 Dec 2022

Third-party car insurance is a mandatory cover as per the motor
Read more
Can I Buy Car Insurance Before Buying A Car?

28 Nov 2022

You usually don’t need car insurance while shopping for cars
Read more
How Can I Buy New Car Insurance In India?

23 Nov 2022

With everything going online, buying new car insurance in India
Read more
Difference Between Zero Dep and Comprehensive Car Insurance Policy

18 Nov 2022

If you are new to the motor insurance world, you must have
Read more
Check Car Insurance Status Online on Parivahan Sewa/ RTO?
It doesn’t matter if you are an excellent driver or take your car out only once in a few months, your car must be
Read more
Multiple Ways To Check Your Car Insurance Status Online
With everything going digital, checking vehicle insurance status online has become easier than ever. It not only
Read more
Getting Your Duplicate Car Insurance Policy is Easy-Here’s How!
Losing your car insurance documents can be daunting. In such a state of affairs, the first thing that comes to your
Read more
Transferring Car Insurance from One Person to Another
An integral part of selling a car, for both the buyer and the seller, is ensuring a successful car insurance
Read more
How to Find Car Insurance Details by Registration Number?
As a car owner, it is mandatory to have a car insurance policy under the Motor Vehicles Act, 1988. Sometimes, you
Read more

View Plans
Download the Policybazaar app
to manage all your insurance needs.