Auto Insurance
New Hampshire, Maine and Vermont Residents Pay the Lowest Auto Insurance Premiums for the Most Popular Sports Cars
Many Americans are intrigued by the idea of making their daily drives in a sports car. But before you get serious about buying a sports car, it’s important to research the associated expenses, including auto insurance premiums.
ValuePenguin researchers found the five most popular sports cars sold in the U.S. in 2022 (via GoodCarBadCar) to calculate annual insurance costs for these vehicles and show how they compare to insuring a standard car. Based on popularity, we looked at a range of makes, including Chevrolet, Audi, Dodge and Ford.
Insuring a sports car costs more than insuring a standard vehicle, as you might expect — and keeping insurance coverage on a sports car is more expensive in some parts of the country than in others. Here’s what we found.
On this page
- Key findings
- A Chevrolet Camaro is the cheapest to insure among the most popular sports cars
- New Hampshire, Maine and Vermont residents pay the lowest auto insurance premiums for sports cars
- Florida, Louisiana and Michigan residents pay the highest auto insurance premiums for sports cars
- How much more it costs to insure a sports car than a standard car
- 4 things to know about sports car insurance
- Methodology
Key findings
- A Chevrolet Camaro is the cheapest to insure among the five best-selling sports cars in the U.S. It costs $2,677 yearly to insure a 2020 Chevrolet Camaro SS, which holds the top spot by $2 annually over the 2020 Ford Mustang GT. (Find out below how we chose the model years and trim levels.) The most expensive to insure among the five we analyzed is the 2020 Chevrolet Corvette Stingray 1LT, at $2,884 a year.
- New Hampshire, Maine and Vermont residents pay the lowest auto insurance premiums, on average, for sports cars. For each of the five sports cars that ValuePenguin analyzed, New Hampshire has the lowest average auto insurance costs across the U.S. The 2020 Ford Mustang GT is the cheapest of the sports cars to insure in the state at $1,573 annually. Maine and Vermont rank similarly, never dropping below the fourth-cheapest state to insure the sports cars analyzed.
- Sports car owners in Florida, Louisiana and Michigan pay the highest annual auto insurance premiums, on average. Florida is the most expensive state to annually insure a 2020 Audi A5 Quattro Premium and 2020 Ford Mustang GT in (at $3,922 and $3,822, respectively). Louisiana is the second-most expensive state to annually insure a 2020 Dodge Challenger R/T and 2020 Ford Mustang GT (at $4,142 and $3,772, respectively). And Michigan is the most expensive state to insure a 2020 Dodge Challenger R/T at $4,338 annually.
- Insuring the five best-selling sports cars costs $897 to $1,104 more a year than insuring a typical car. We used a 2015 Honda Civic EX as our standard car. Owners of the most popular sports cars in California, Texas or Nebraska can expect to pay significantly more for insurance than if they owned a standard car.
How we chose the five best-selling sports cars (and their trim levels)
ValuePenguin first analyzed the 2022 U.S. Sports Car Sales Analysis from GoodCarBadCar, a website that tracks automotive sales data and statistics monthly. We analyzed the site’s data to determine the five most popular sports cars in 2022:
- Chevrolet Camaro
- Chevrolet Corvette
- Audi A5
- Ford Mustang
- Dodge Challenger
From there, we had to set a model year and trim levels for our analysis. We chose 2020 based on consistency and data availability. We then used Kelley Blue Book fair market prices for 2020 models to determine which trim sizes to analyze. Ultimately, we selected the following:
- 2020 Chevrolet Camaro SS
- 2020 Chevrolet Corvette Stingray 1LT
- 2020 Audi A5 Quattro Premium
- 2020 Ford Mustang GT
- 2020 Dodge Challenger R/T
We generally looked for trim levels in similar price ranges. However, our selections depended on whether similar trim levels were available across the board (and whether insurance rate data on the model and trim level was available through Quadrant Information Services).
For additional details, see the methodology.
A Chevrolet Camaro is the cheapest to insure among the most popular sports cars
Of the five sports cars ValuePenguin analyzed, the Camaro was the most affordable to insure nationwide. But the popular sports car holds that title by only a small margin — there’s a mere $2 difference between the average annual insurance premiums for the 2020 Chevrolet Camaro SS and the 2020 Ford Mustang GT.
Average cost to insure the most popular sports cars in the U.S.
Rank | Vehicle | Average annual premiums | Average monthly premiums |
|---|---|---|---|
| 1 | 2020 Chevrolet Corvette Stingray 1LT | $2,884 | $240 |
| 2 | 2020 Audi A5 Quattro Premium | $2,866 | $239 |
| 3 | 2020 Dodge Challenger R/T | $2,832 | $236 |
| 4 | 2020 Ford Mustang GT | $2,679 | $223 |
| 5 | 2020 Chevrolet Camaro SS | $2,677 | $223 |
Source: ValuePenguin analysis of Quadrant Information Services data. Note: ValuePenguin analyzed GoodCarBadCar and Kelley Blue Book data to set the make, model and trim levels.
The monthly cost of insuring the five most popular sports cars is even closer: There’s a maximum difference of $17 a month between the most expensive sports car to insure on our list and the least expensive one.
Although there are purchase price differences among the five most popular sports cars, ValuePenguin auto insurance expert Divya Sangameshwar isn’t surprised that the cost of insuring them is pretty similar — especially monthly.
"Insurers consider more than the cost of the car," Sangameshwar says. "They also look at factors like whether your car model or where you park makes your vehicle more prone to theft. They look at the cost of repairing your vehicle if it gets damaged — sports car parts aren’t typically mass-produced, making damages more difficult and expensive to repair."
"The speed at which these cars can go is also a factor," she adds. "Greater horsepower and speed means a higher risk of severe accidents and damages."
New Hampshire, Maine and Vermont residents pay the lowest auto insurance premiums for sports cars
Residents in three Northeast states are likely to enjoy more affordable insurance premiums on sports and muscle cars compared to drivers in other parts of the U.S. New Hampshire, for example, has the cheapest average auto insurance rates for each of the five sports cars on our list.
Maine, another New England state, boasts the second-cheapest average auto insurance rates for four of the five sports cars on our list (and it’s the third-cheapest state to insure the Audi A5 Quattro Premium). Vermont, meanwhile, comes in third for the most affordable average auto insurance rates for drivers of every sports car on our list other than — again — the Audi A5 Quattro Premium. (The Green Mountain State ranks as the fourth-cheapest state in the nation to insure that particular sports car.)
Where residents pay the lowest auto insurance premiums for sports cars
State | 2020 Dodge Challenger R/T (rank) | 2020 Ford Mustang GT (rank) | 2020 Chevrolet Corvette Stingray 1LT (rank) | 2020 Chevrolet Camaro SS (rank) | 2020 Audi A5 Quattro Premium (rank) |
|---|---|---|---|---|---|
| New Hampshire | $1,656 (50) | $1,573 (50) | $1,759 (50) | $1,585 (50) | $1,669 (50) |
| Maine | $1,717 (49) | $1,718 (49) | $1,824 (49) | $1,654 (49) | $1,889 (48) |
| Vermont | $1,891 (48) | $1,775 (48) | $1,839 (48) | $1,763 (48) | $1,942 (47) |
Source: ValuePenguin analysis of Quadrant Information Services data. Notes: ValuePenguin analyzed GoodCarBadCar and Kelley Blue Book data to set the make, model and trim levels. A 50 in parentheses signifies the state with the cheapest auto insurance premiums for each sports car.
Hawaii deserves an honorable mention in terms of affordability where sports car auto insurance premiums are concerned. The Aloha State has the sixth-cheapest average auto insurance rates in the U.S. for the five sports cars in our study, but it’s the second-cheapest state to insure the Audi A5 Quattro Premium.
It’s hard to pinpoint exactly why premiums for sports cars in these Northeast states are lower than in other parts of the country, though Sangameshwar does have some ideas: "Factors like a lower rate of thefts, fewer miles driven due to winter weather or many insurers competing for business could all contribute to more affordable sports car premiums in the region."
Florida, Louisiana and Michigan residents pay the highest auto insurance premiums for sports cars
Unfortunately for drivers who live in Florida, Louisiana and Michigan, the cost to insure a sports car is higher than in other parts of the U.S. In particular, Florida and Louisiana are tied for the highest overall insurance rates for the most popular sports cars, while Michigan takes third in this undesirable contest.
Both the Ford Mustang GT and the Audi A5 Quattro Premium are more expensive to insure in Florida than in any other state. And while Louisiana doesn’t feature the highest insurance premiums for any of the five sports cars, it ties with Florida for the No. 1 spot because it’s the second-most expensive state to insure two of the vehicles on our list and third-most expensive for another two.
Michigan is only the 10th-most expensive state to insure the Audi A5 Quattro Premium. However, it ranks as the most expensive state to insure the Dodge Challenger R/T and the second-most expensive state to insure the Chevrolet Camaro SS.
Where residents pay the highest auto insurance premiums for sports cars
State | 2020 Dodge Challenger R/T (rank) | 2020 Ford Mustang GT (rank) | 2020 Chevrolet Corvette Stingray 1LT (rank) | 2020 Chevrolet Camaro SS (rank) | 2020 Audi A5 Quattro Premium (rank) |
|---|---|---|---|---|---|
| Florida | $3,771 (5) | $3,822 (1) | $3,817 (4) | $3,675 (5) | $3,922 (1) |
| Louisiana | $4,142 (2) | $3,772 (2) | $4,055 (3) | $3,765 (3) | $3,688 (6) |
| Michigan | $4,338 (1) | $3,546 (4) | $3,767 (5) | $3,815 (2) | $3,529 (10) |
Source: ValuePenguin analysis of Quadrant Information Services data. Notes: ValuePenguin analyzed GoodCarBadCar and Kelley Blue Book data to set the make, model and trim levels. A 1 in parentheses signifies the state with the most expensive auto insurance premiums for each sports car.
Another state worth mentioning is California. The Golden State is ninth overall in terms of the highest overall insurance rates for the most popular sports cars. (This lower ranking is because the state has two vehicles ranked 14th and 22nd in insurance premium costs.) However, California is the most expensive state in the country to insure both of the Chevys on our list.
As Sangamershwar notes, it can be challenging to identify precise state-by-state reasons why sports car premiums vary across different parts of the country. Yet numerous factors may contribute to variations in cost, including the number of insurance providers competing for business in different areas, the rate of accidents and thefts and state-specific insurance regulations.
Full rankings
Where residents pay the highest/lowest auto insurance premiums for sports cars
Rank | State | 2020 Dodge Challenger R/T (rank) | 2020 Ford Mustang GT (rank) | 2020 Chevrolet Corvette Stingray 1LT (rank) | 2020 Chevrolet Camaro SS (rank) | 2020 Audi A5 Quattro Premium (rank) | Average rank |
|---|---|---|---|---|---|---|---|
| 1 | Florida | $3,771 (5) | $3,822 (1) | $3,817 (4) | $3,675 (5) | $3,922 (1) | 3.2 |
| 1 | Louisiana | $4,142 (2) | $3,772 (2) | $4,055 (3) | $3,765 (3) | $3,688 (6) | 3.2 |
| 3 | Michigan | $4,338 (1) | $3,546 (4) | $3,767 (5) | $3,815 (2) | $3,529 (10) | 4.4 |
| 4 | Nevada | $3,953 (3) | $3,548 (3) | $3,507 (9) | $3,693 (4) | $3,788 (4) | 4.6 |
| 5 | Delaware | $3,694 (6) | $3,462 (5) | $3,456 (10) | $3,370 (7) | $3,919 (2) | 6.0 |
| 6 | Colorado | $3,846 (4) | $3,219 (12) | $3,719 (6) | $3,399 (6) | $3,605 (8) | 7.2 |
| 7 | Kentucky | $3,480 (7) | $3,374 (9) | $3,585 (8) | $3,281 (9) | $3,713 (5) | 7.6 |
| 8 | Nebraska | $2,836 (24) | $3,404 (7) | $4,206 (2) | $3,363 (8) | $3,861 (3) | 8.8 |
| 9 | California | $2,960 (22) | $3,388 (8) | $4,273 (1) | $4,738 (1) | $3,392 (14) | 9.2 |
| 10 | Texas | $3,454 (9) | $3,445 (6) | $3,430 (12) | $2,982 (16) | $3,665 (7) | 10.0 |
| 11 | South Dakota | $3,469 (8) | $3,028 (16) | $3,701 (7) | $3,024 (15) | $3,409 (13) | 11.8 |
| 12 | Arkansas | $3,333 (10) | $2,973 (18) | $3,311 (15) | $3,114 (11) | $3,546 (9) | 12.6 |
Source: ValuePenguin analysis of Quadrant Information Services data. Notes: ValuePenguin analyzed GoodCarBadCar and Kelley Blue Book data to set the make, model and trim levels. A 1 in parentheses signifies the state with the most expensive auto insurance premiums for each sports car, while a 50 signifies the state with the cheapest premiums.
How much more it costs to insure a sports car than a standard car
If you’re considering buying a popular sports car, it may be helpful to compare the cost of insuring a sports car to that of a standard one. Of course, there could be multiple definitions of a "standard" vehicle, so here’s a brief explanation for clarity.
For the comparisons below, a standard car refers to a 2015 Honda Civic EX, driven by a 30-year-old male with good credit and a clean driving record. Meanwhile, our sports car data is based on a 40-year-old male driver with good credit and a clean driving record. (We stuck with a 30-year-old for our standard data, since that’s how we track it across our website.)
In total, the average cost of full coverage car insurance for 2023 is $1,780 a year. The annual average premium for full coverage car insurance for the most popular sports cars, by comparison, ranges from $2,677 to $2,884 — a difference of $897 to $1,104.
Difference between insuring a sports car and standard car (nationally)
Type | Vehicle | Average annual premiums | Annual difference |
|---|---|---|---|
| Standard car | 2015 Honda Civic EX | $1,780 | – |
| Sports car | 2020 Chevrolet Camaro SS | $2,677 | $897 |
| Sports car | 2020 Ford Mustang GT | $2,679 | $899 |
| Sports car | 2020 Dodge Challenger R/T | $2,832 | $1,052 |
| Sports car | 2020 Audi A5 Quattro Premium | $2,866 | $1,086 |
| Sports car | 2020 Chevrolet Corvette Stingray 1LT | $2,884 | $1,104 |
Source: ValuePenguin analysis of Quadrant Information Services data. Note: ValuePenguin analyzed GoodCarBadCar and Kelley Blue Book data to set the make, model and trim levels.
Sports cars are more expensive to insure than standard ones for several reasons. For one, insurance providers consider sports cars more likely to be involved in accidents. Another detail that could drive up insurance rates on sports cars is that these types of vehicles tend to be more expensive to repair or replace. However, no matter what type of car you drive, you may be able to save money on insurance costs by comparing rates from multiple insurance companies.
It’s wise to examine the variances between the insurance costs for a standard car and a sports car at the state level. In some states, insuring a sports car could put a much bigger strain on your budget than a standard car.
California drivers, for example, pay an average of 114.1% more in annual insurance premiums for a sports car versus a standard car. (The average annual premium for a standard car in the Golden State is $1,752, while average premiums for the most popular sports cars in the state range from $2,960 to $4,738.)
Below is a closer look at the average cost differences between insurance for a sports car and a standard car on a state-by-state basis
Difference between insuring a sports car and standard car (by state)
Rank | State | Average annual premiums for a standard car | Average % difference between insurance costs for premium and standard cars (based on 5 most popular sports cars) |
|---|---|---|---|
| 1 | California | $1,752 | 114.1% |
| 2 | Texas | $1,632 | 108.0% |
| 3 | Nebraska | $1,704 | 107.4% |
| 4 | Arkansas | $1,656 | 96.6% |
| 5 | South Carolina | $1,632 | 87.6% |
| 6 | South Dakota | $1,776 | 87.3% |
| 7 | Mississippi | $1,560 | 85.6% |
| 8 | Alabama | $1,668 | 82.9% |
| 9 | Idaho | $1,188 | 80.8% |
| 10 | North Dakota | $1,656 | 77.5% |
| 11 | Colorado | $2,016 | 76.5% |
| 12 | Missouri | $1,848 | 75.1% |
Source: ValuePenguin analysis of Quadrant Information Services data. Note: ValuePenguin analyzed GoodCarBadCar and Kelley Blue Book data to set the make, model and trim levels.
Michigan has some of the highest minimum auto insurance requirements in the country, which could impact why it’s more costly to insure a standard car than a sports car. ValuePenguin has a separate look at why car insurance is so expensive in Michigan.
4 things to know about sports car insurance
Car insurance rates have been on the rise throughout the country for sports cars and other types of vehicles alike. If getting a sports car is on your to-do list, here are some tips that might help you save money:
- Maintain a clean driving record. The most effective way to keep your insurance rates affordable on any type of vehicle is to avoid moving violations and accidents. "This means no speeding," says Sangameshwar, "even if your sports car has a superpowered engine."
- Bundle your coverage. When you take out multiple insurance policies, like home and auto insurance, from the same company, you might be able to score a discount from your insurance provider.
- Take a defensive driving course. "Depending on the insurance company," says Sangameshwar, "taking a safe driver or defensive driving course can lower your rates by 5% to 20% — especially if you’re driving a sports car."
- Compare quotes. Insurance premiums can vary from one insurance company to the next, even for the same sports car. "Comparing quotes is the fastest, easiest way to get the lowest possible rate on your car insurance," says Sangameshwar — "especially in 2023, with so many insurers raising rates."
Methodology
ValuePenguin first analyzed the 2022 U.S. Sports Car Sales Analysis from GoodCarBadCar to determine the five most popular sports cars in the U.S. Researchers then analyzed Kelley Blue Book’s fair market prices for 2020 models to determine which trim levels to compare.
The five sports cars we chose were:
- 2020 Chevrolet Camaro SS
- 2020 Chevrolet Corvette Stingray 1LT
- 2020 Audi A5 Quattro Premium
- 2020 Ford Mustang GT
- 2020 Dodge Challenger R/T
Once ValuePenguin researchers chose the five sports cars’ trim levels, they compiled quotes from auto insurance companies across all available ZIP codes in all 50 states. Quotes are for a 40-year-old man with good credit and a clean driving record.
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only, as your quotes may be different. Full coverage policies include coverage limits above minimum requirements.
Full coverage policy
Coverage | Limits |
|---|---|
| Bodily injury (BI) liability | $50,000 per person/$100,000 per accident |
| Property damage | $25,000 per accident |
| Uninsured or underinsured motorist BI | $50,000 per person/$100,000 per accident |
| Comprehensive and collision | $500 deductible |
| Personal injury protection | Minimum (when required by state) |