How to Get Insurance on a Sports Car


The process to get insurance on a sports car is much like the process to get insurance on a regular passenger vehicle. You provide information on yourself, your car and your area, and the insurance company gives you a price. However, the special nature of sports cars means that not all insurance companies are equipped to handle them -- and some of those that are prefer not to work with sports car policies.

Step 1: Provide your personal information. To get insurance on your sports car, you will need to provide your social security number, driver's license number and contact information. You can skip this step when communicating with an agent or company with whom you already have a relationship.

Step 2: Gather information about your sports car. This will include make, model and vehicle identification number. You will also want to get an approximate current valuation of the vehicle, since this may be a point of contention as you negotiate for the policy.

Step 3: Request estimates from at least 3 different insurance providers for insurance on your sports car.
  • Talk with the company that provides you with the rest of your insurance, such as a homeowner's policy, renter's insurance or insurance for your regular cars. The company may offer a multiple-policy discount, which may or may not make it competitive with specialty insurers.
  • Work with specialty insurance companies for your other estimates. These companies specialize in insuring sports, collectible and vintage cars. They understand that your relationship with your sports car is different from your relationship with a commuter car, and will treat your sports car policy accordingly.
Step 1: Look carefully at the valuation method listed for each sports car policy you consider. When you get insurance on your sports car, the valuation method says a lot about how much good the policy will do you.
  • "Actual Cash Value" will assign a value to your sports car at the time of your loss. Your insurance company makes this decision with no input from you.
  • "Stated Value" bases the value of your car on a value you set. You must provide justification for this value when you buy your sports car policy.
  • "Agreed Value" sets the value of your sports car policy based on a negotiation between you and the company when you sign up for your coverage.
Step 5: Consider usage restrictions on your sports car to reduce the price of your policy. Some common restrictions include mileage limitations, driving in shows and rallies only, and specific methods for maintaining and storing your vehicle.

Step 6: Check the maintenance and repair specifications in the policies you consider. The specifics of these rules will vary from company to company, and you will want to be certain they match how you like to care for your sports car.

Step 7: Make your final decision for getting insurance for your sports car based on these factors, and the standard car insurance considerations like coverage limitation, deductibles and premium price.

Step 8: Review your sports car policy annually to make sure it still conforms to your needs. Look especially carefully at the usage restrictions and valuation.

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