If you’re griping about how much it costs to insure your truck, sedan, or SUV each month, take a seat, buckle up, and roll down the windows for some fresh air because it will cost more – a lot more, actually – to insure your exotic car.
Of course, you already know this if you’ve insured an exotic car before. But you’re in for a shocker if this scenario is new to you. Whether you’re new to it or a veteran, however, there are things you can do to get the best possible rate from your insurance company.
Here are some tips to help you get your pride and joy out on the road this summer without paying more than you have to for insurance.
Insure it Only When You Need it
Unless you live in a sun-drenched state like California or Florida, chances are you don’t use your performance car year-round. And if it remains parked for months at a time, then you can save money by being selective and strategic about coverage. Go for comprehensive coverage if you’re storing your performance car for the winter but want to safeguard it from potential threats associated with vandalism or theft. This will protect your vehicle and your wallet.
How Easy is it to Find Parts?
If you already have a performance car, you’re aware of the premium to repair and maintain it. Insuring such a vehicle, meanwhile, can get especially pricey if parts are hard to come by or are just downright expensive. There’s not much you can do about this if you already own an exotic car, but you might want to keep this in mind if you’re in the market for one.
Resist the Urge for Customizations
Yes, this can be difficult, especially if you want your exotic car to stand out even more than it already does. The problem with customizations, however, is that they will likely require a higher insurance bill since replacing your one-of-a-kind ride will cost more if you’ve souped it up.
Install Anti-Theft Technology
Does your insurance company offer discounts if you install anti-theft technology? It doesn’t hurt to ask. As you might imagine, performance cars are especially attractive to the criminal element that focus on car theft. But you can make yours a less desirable target with the right technology.
Defensive Driving Course
Another option that might help to decrease the amount you pay for insurance is to take a defensive driving course. Again, ask your insurer if there is a discount available for doing this. If there isn’t, you might want to consider switching to an insurer that will provide such a discount.
No matter how you slice it or dice it, you will pay more to insure your exotic car than you will to insure a typical family sedan, minivan, SUV, or truck. But there are ways to reduce the amount you’re billed each month. These tips should help. Good luck!
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