Imagine driving your dream car – and it happens to be a convertible! The top is down, the sun is shining, you’re driving on the Autobahn and life is good. The last thing on your mind is probably your car insurance rates. So why do convertibles cost more to insure? Let’s break it down.
Is the car insurance for a convertible higher?
Normally yes. The Facts About Insurance states: “With convertible bonds, the insurance is higher. Convertible insurance rates average $206 a month, which is 30% higher than the standard rate for a hardtop sedan.” Additionally, roadsters are more expensive to repair, so keep that in mind.
Reasons why convertibles are more expensive to insure
According to Progressive, “Insuring a convertible can be more expensive due to the higher purchase price. Generally, vehicles with a high price tag cost more to repair or replace, so insurers charge more to cover the higher cost of a potential claim. That’s why the insurance policies for sports cars tend to be higher.”
Another reason roadsters are more expensive to insure? They are considered easy prey for car theft. When the top is down, it is easy for thieves to take items out of the car.
A convertible has a greater chance of leaks and exposure compared to a hardtop vehicle. For example, water can damage the seats and possibly allow mold and mildew to grow in the cabin.
If you drive a convertible, chances are it comes with a V6 or V8 engine under the hood. If you drive a high horsepower vehicle, insurance will cost you more. A faster car means a higher risk of a possible collision.
Finally, convertibles (especially hardtop models) tend to weigh more. Some insurance companies out there have a horsepower to curb weight ratio for performance.
Is it worth buying a roadster?
Buying a convertible depends on your wishes and needs. If you don’t mind higher car insurance rates and have always wanted to own one, then yes, it’s worth it! Don’t let these prices ruin your dreams of owning the vehicle you’ve always wanted. The best solution is to shop around, get quotes, search for car insurance discounts and try to find the best deal possible.
Looking for cheaper convertibles to insure? Here are some options that might catch your attention:
- Jeep Wrangler
- Fiat 124 spider
- Mazda MX-5 Miata
- MINI Convertible
- Chevy Camaro
These are much cheaper to insure as they are lighter and have lower horsepower ratings. You should also consider security ratings if you’re in the market for one.
If you’re tired of the idea of owning a roadster, you can still look for other eye-catching vehicles like coupes and hatchbacks.
TIED TOGETHER: 7 of the most comfortable convertibles
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