5 Factors You Must Consider Before Buying Sports Car Insurance

While growing up, many of us dream of owning a sports car. Once we grow up, we understand that our childhood dreams can actually turn into reality. Sports cars usually perform exceptionally well. However, their maintenance can be quite expensive. Even minor damages to the vehicle can also lead to heavy bills. 

While a sports car can help us fulfil our childhood dreams, it is important to ensure the car is protected from unforeseen dangers. One of the best methods to make sure our dream car stays protected is by getting adequate insurance for the car. A four wheeler insurance policy is an insurance plan designed to provide financial protection to you, your car, and any affected third party in the wake of an adverse event pertaining to your car. 

With a suitable car insurance plan for your vehicle, you can be at peace knowing your sports car will be protected from the financial effects of unfortunate events like accidents, riots, etc. If you are planning to purchase sports car insurance, there are certain things that you should know.

Things to Consider When Purchasing Sports Car Insurance

Here are the important factors you must consider before purchasing four wheeler insurance for your sports car. 

  • The legal requirement to purchase car insurance

Be it a sports car or a normal car; road laws are the same for every car owner. Based on the Motor Vehicles Act (MVA), it is a legal mandate to get insurance for your car. There are three types of four wheeler insurance plans available for car owners in India, namely a third-party liability car insurance policy, a standalone one damage insurance policy, and a comprehensive car insurance plan. 

While a third-party liability cover can be the most affordable option out of the three variants of car insurance mentioned above, opting for a comprehensive car insurance plan is better. Comprehensive insurance plans protect your car and any other vehicle or person involved in a road accident. 

However, car insurance plans are active only for a specific tenure. Therefore, it is important to ensure that you renew your car insurance policy before its expiry date. 

  • The method of purchase

While in the past, individuals used to opt for the offline method to purchase car insurance for their vehicle, the recent breakthroughs in technology have enabled many insurers to launch their official websites to assist customers. You can now go to the website of your preferred insurance company and purchase four wheeler insurance online after following a few simple steps. 

Along with this, leading insurers like TATA AIG also allow the customers to conduct the renewal of their insurance plan online. If you wish to conduct the TATA AIG car insurance renewal online, you can visit Tata AIG’s official website and follow a few simple steps. Many insurers also provide calculators to help customers calculate car insurance

Learning about the insurance rates for your sports car can help you during the policy purchase process. If you cannot find a specific insurance plan for your sports car, you can inform the insurance company and ask them for insurance solutions for your car. The insurance company will inspect the vehicle to ascertain its ‘Insured Declared Value’ and the premium rate required for the insurance plan.

  • High premium cost

Your age can help you get a lower premium on your car insurance plan. However, sports car insurance for people under 25 years of age can still be a bit on the higher side in terms of the cost. This is because a sports car is a bit expensive and costs higher than the average car. 

Consequently, the car’s ‘Insured Declared Value is higher than a regular car and so is the car insurance premium’. The comfort and performance that you get from your sports car carry the price of a higher level of maintenance and costlier insurance.

It is important to note that an older sports car is also likely to have a high insurance premium amount as their chances of getting stolen are high and their parts are quite difficult to find for repairs or replacement, not to mention very expensive. 

Additionally, it is imperative to get a Zero Depreciation add-on with your sports car insurance to ensure that any claim for the replacement of the expensive car parts is settled without accounting for depreciation.

  • Comparison of insurance policies

There are several different car insurance plans available to help customers get adequate insurance for their vehicles. However, the process of choosing a suitable insurance plan for your car can be a bit difficult and overwhelming because of the number of choices. 

Therefore, it is important that you understand your insurance requirements before beginning to compare the different plans available in the market. Comparing different insurance plans helps you narrow down your options and choose the most suitable insurance plan for yourself.

  • Anti-theft devices

Sports cars are usually designed to turn heads on the road. However, they can catch a burglar’s eye as well and your prized possession may not be yours anymore. This is why it is crucial to take extra steps to protect your vehicle from theft. You can secure your car with anti-theft devices that are certified by the Automotive Research Association of India (ARAI). 

Adding anti-theft devices to your vehicle can also help you reduce the premium amount on the insurance plan. This is because the insurers view it as a method of increasing the car’s protection.


Owning a sports car can help us live out our childhood dreams. However, it is important to safeguard our prized possession and buy a suitable four wheeler insurance plan for it. This is why getting sports car insurance for the vehicle can be advantageous for us. If you’re planning to purchase sports car insurance, you must consider the factors mentioned above before making the purchase.

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