Exotic cars are not only expensive to buy, but also require a costly insurance. That is only natural since exotic cars, due to their super-fast engines, are more likely to be involved in speeding, dangerous driving, and accidents. As a general rule, convertibles require a more expensive insurance than average cars – the more powerful the engine, the more costly the insurance. Whether you already own an exotic car or plan to buy one in the future, there are a couple of ways in which you can save money on your exotic car insurance.
- Go for a limited mileage policy. At first this may sound like a serious limitation, but consider how much you actually drive your exotic car. Chances are you don’t drive it every day.
- Do your best to avoid tickets and moving violations. A ticket or moving violation can raise your insurance rate with as much as 22%.
- Try to wipe off your record existing tickets or moving violations. A skilled attorney can pull it off, and in many cases the expenses his or her services require will be lower than the cost of paying for a higher insurance premium.
- Choose the highest deductible you can afford. High deductibles make insurers feel more at ease, especially when it comes to exotic car warranty and insurance, and this means lower rates. A good idea is to set up a savings fund especially for your deductible payment.
- Consider the car model you buy. If you want to change your exotic car or get a new one, you should know that the same insurer can offer you different insurance rates depending on your car’s model. For example, models that have been involved in many accidents over the years, especially in celebrity ones, can require higher premiums that models which are just as fast and powerful but don’t have the same infamous history.
- Install an anti-theft device. Surprising as this may sound, many exotic cars, and especially older models, may not have the anti-theft devices (alarms and trackers) that luxury cars have. This is because manufacturers of exotic cars strip them of all extras in order to make them as fast and as aerodynamic as possible.
- Make sure your VIN registration is etched into your car’s window. This can lower your coverage rates, since it makes tracking easier in case of theft.
In the end, don’t forget that it’s important to choose your exotic car insurance provider with care. Don’t settle for the first that comes your way but research the market and find the best insurance agency Houston based for your needs. A bit of research beforehand can help you save hundreds or even thousands of dollars on your car insurance premium, as well as avoid stress should you ever need to claim your insurance.