Sports Car Lovers, What You Need to Know About Auto Insurance Policy:

Have you always dreamt of buying a sports car and now is the time for your dream is coming true?

Well, then you need to know certain things about buying it. Sports cars are expensive. Don’t take any chances with it, learn all you can before making the purchase.

Sports cars are in the luxury car category. Some of the common sports cars available in India today include:

Porsche cayenne – A classy car with a 3-litre engine, six-speed manual transmission, knee bags, seat side airbags, cruise control and several other features. The aluminium wheels are around 20 inches in Porsche.

Ford Mustang GT – This car is also one of the most popular luxury cars like the Porsche Cayenne, however, the difference lies in the aluminium wheels.

Mercedes Benz AMG GT – A 4-litre engine car with a twin-turbo and a number of attractive features.

Lamborghini Huracan – One of the fanciest cars in the market with a two-sitting facility.

Chevrolet Corvette – A 6.2-litre engine with innumerable attractive features like a seven-speed manual transmission, inter-cooled supercharger, anti-lock brakes, etc.

Audi TTS – One of the coolest sports cars to own with 3.8 litres twin-turbo engine and a highly integrated navigation system.

Insurance of Sports Cars

One cannot drive a car without getting it insured, and so is the case with sports cars. The good news is, that sports cars are a car of choice for insuring by insurance companies. Insurance companies divide cars into various groups for the purpose of calculating premiums and other benefits. There are about 50 such car groups – hatchback, sedan, SUV, sports cars, etc. The higher the group of cars, the easier it is to get insurance. Sports cars are in the top category of the car insurance group.

What affects the insurance premiums of sports cars?

So, what affects the premium of sports cars?  Well, firstly the car group is considered. Porsche itself has about ten cars which fall under various groups while Mercedes has about 22. Multiple versions of the same car are available in the market and they fall in the same category.

Apart from group, insurance companies consider the cost of purchasing the car, repairing cost, cost of spare parts, etc. while calculating the insurance premium. Security features of the car are also considered to be an important factor by some insurance companies. Therefore, make sure that your choice of sports car contains the required security features.

Additional Reading:- Types of Motor Vehicle Insurance Policies in India

Things to remember before getting insurance for sports cars

Finally, let us lay down some of the things that you should keep in mind while choosing an insurance plan for your sports car:

• Collect quotes from various insurance companies before making the final choice.
• Ensure that your insurance plan provides coverage under all circumstances.
• Since a sports car is extremely expensive, make sure to opt for a money-back plan while choosing the insurance coverage. This will ensure that you get back your money in case the car gets stolen.
• Choose the same insurance company from where you have taken other insurance policies. There is a possibility that you will get a loyalty discount.

While buying an insurance policy for your sports car, remember, you are not just insuring your car, you are insuring a dream. Therefore, spend considerable time and conduct sufficient research before making the final decision.