Convertible cars usually cost more than a regular vehicle. They also cost more to insure. Nevertheless, there are several options available when it comes to finding cheap convertible car insurance coverage. What is the best coverage for convertible automobiles? Who offers the best coverage for these types of cars? How much should you pay in premiums? There are just a few of the questions many people ask when looking for it for convertibles. Here you will learn everything you need to know about how to insure for convertibles less.
How Much is Average Convertible Auto Insurance?
An owner could expect to pay $200.00 every month for a typical policy for convertibles cars. Still, this rate could vary from one company to another, and from vehicle to vehicle. Let’s say, for instance, that you drive a new Audi A5 convertible. Your premiums would be different than the premiums of a 2001 BMW 3-series convertible owner would have to pay.
Nevertheless, statistics in the United States show that the average premiums for convertibles are about $200.00 each month, which is equivalent to $ 2400.00 per year. That amount is almost double the standard premiums in the country.
Why Are Convertible Insurance Premiums More Expensive?
There are several factors to consider before answering this question. You could find many reasons why coverage is more expensive for convertible owners. Of course, first of all, convertibles typically cost more than a regular vehicle.
Also, convertible cars tend to be desirable targets for theft and vandalism. They are more often stolen and vandalized than the typical vehicle. Moreover, convertible car repairing charges are significantly higher. A small accident could lead you to a bill of thousands of dollars. Even a minor accident could damage the frame of a convertible automobile. These high repair costs are one reason why premiums are so high.
A typical convertible driver buys not only liability insurance for his or her car but typically purchases additional protection, like comprehensive and collision coverage. This is because owners want to protect their convertible vehicles from almost any type of accident. Therefore, they choose to get full coverage instead of liability only insurance, which is the minimum coverage required.
A weight factor
Convertible cars are heavier than a regular vehicle. Manufacturers design convertibles this way to diminish the risk of rolling. This type of car is more stable because of its heavyweight. This is also the reason why a convertible needs more horsepower. Most of the time, the more horsepower the vehicle has, the more expensive it will be to insure.
A driver with a high horsepower car usually drives at higher speeds, and this increases the chances of a collision. Therefore, filing a claim becomes a more probable reality for the policyholder. And it could get worse. A vehicle is more often totaled when it gets involved in an accident due to high speed and horsepower. This represents a significant drawback for the insurer since, in these cases, the provider should pay the full value of the car to the insured, instead of just covering the cost of repairing the vehicle.
One last factor that raises convertible insurance is that this kind of vehicle could be more easily stolen than other cars. Many thieves prefer convertibles (as most people do). A thief could gain access to a convertible through the soft top, for instance. The owner could also leave the car uncovered when it’s parked for a short time.
The chances of a soft-top convertible being vandalized are very high. A thief could cut the soft top and get into the vehicle to steal the possessions inside. This is the reason why it is hard to find very cheap car insurance for convertibles with a soft top. Hardtop convertibles are slightly less expensive to insure. This is an important fact to be kept in mind when searching for your next automobile.
What Other Factors Could Impact Your Auto Insurance Rates for a Convertible?
We have already explained some of the factors that could influence your premiums. Read on below to learn some others:
Kinds of Coverage: If you have gotten full coverage for your convertible car, then you will pay substantially more than with a basic liability plan. An old convertible with limited value would be the exception to this rule. In any other case, full coverage could be the option that most people will select. It would cover damages caused by accidents and losses of a different nature.
Age and Gender: Your rates would vary according to your age and gender. In almost all cases, young female drivers pay less for their coverage than young males. This could be different when a woman gets older. Middle-aged females would pay more expensive rates than middle-ages men.
Zip Code: The place where you live is an essential factor when it comes to your premiums. Do you park on the street or in your garage at night? providers will use this data to calculate the chances that your car will be stolen, vandalized, or the odds you will be involved in an accident. There are some neighborhoods with higher related claims rates than others in most cities.
Mileage: The number of miles you drive every year should be taken into account. If winter is long where you live, your convertible probably stays parked for several months. You will only drive it a small part of the year, and therefore the cost of insuring it will be less.
Deductibles and Coverage Limits: The amount of the deductible you have chosen for your policy will impact your premiums. Generally, the higher the deductible, the lower your premiums will be. Your coverage limits would also affect your rates.
How to Find the Best Car Insurance for Convertibles?
There is not a company in the United States that focuses on offering insurance for convertibles. Therefore, we cannot say, “This is the best convertible auto insurance provider in the country.” Almost all top companies should offer affordable insurance prices for convertibles.
Therefore, comparing quotes using our online comparison tool could be the best option for you. You just need to enter your zip code, and you will automatically be provided with information on premiums from companies in your area. Compare as many quotes as you can.
Study your options carefully before you buy a policy and always read all the fine print. Then you will be able to select the most suitable company for your need. To find the cheapest auto insurance for convertibles cars, start online by reviewing your matched providers. Direct providers often have the lowest rates, and many people save hundreds. Enter your zip code now and fill out a simple five-minute application. Save more on the insurance you need today.