Cheap Exotic Car Insurance

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Cheap Exotic Car Insurance

cheap exotic car insurance

I recently watched a couple of YouTube videos of a 26-year-old guy sharing his experience owning a Lamborghini. From $ 2,600 car repairs to worrying about where to park your pride and joy, it gave you an up-close and personal perspective of what it was like to own one. Many people were curious how such a young guy could afford a super expensive dream car, much less pay the upkeep and insurance. To almost everyone’s surprise, the “Stradman” did not inherit a fortune, win the lottery or make a quick killing at a tech start-up. He had a pretty regular type of job as an accountant. One of the ways he was able to get such a fantastic ride was to keep his coverage costs way down. This guy is living proof that cheap exotic car insurance is a reality, and these tips below will allow you to learn how he gets such low rates. Get your free price check-up with good to go insurance online. Compare multiple plans and rates in only five short minutes.

1. Live in a Small Rural Area

It is almost hard to believe, but the Stradman pays $148.67 monthly in automobile insurance premiums for his Lamborghini! That is cheaper than many pay for a boring Toyota Corolla each month. In this case, this guy lives in Park City, Utah, with fewer than 10,000 people. This equates to fewer people on the road and, you guessed it, far fewer accidents. This reduces the claim payouts insurers have to make and adjust premiums much lower. So, your zip code will determine the amount you pay to insure your ride, whether an exotic car or a cheapo.

If you live in a big city like Chicago, which is in a densely populated area with much crime, then your cost of insuring your vehicle will go way up. This is because there is a greater probability of getting into an accident, having your car vandalized, or even worse, stolen. The stats don’t lie; more accidents and theft happen in these large metro areas. If you want cheaper coverage, get out of the big city and live in a rural community.

2. Employment and Earning Demographics

Beyond your zip code, you might be surprised to know that an area’s employment rate and average earnings play a role in insurance pricing. It boils down to risk and risky behavior. People who earn a good salary are less likely to engage in high-risk behavior like drag racing or driving while intoxicated. Areas with higher employment and wealth also see a reduction in both auto accidents and theft.

Conversely, high-unemployment urban places tend to see more erratic driving and accidents and much higher automobile theft incidences. These areas also tend to have many more uninsured drivers on the road, which can cost your insurance company big time if you get hit by one of these lawless drivers. So if you can afford to move into a good neighborhood with an above-average income, you can save more on car insurance.

3. Wait until you are 25 to get much lower Rates

Stradman was smart and waited until he was over 25 to buy his Lamborghini. Had he bought the exact vehicle when he was 22 or 23, his premiums would have likely been at least doubled and maybe even tripled. Unless you are a young rich kid, it just doesn’t make sense financially to buy an exotic automobile until you are over 25 years old. The car payments, the premiums, or the maintenance costs will eat you up. After 25, you can get much cheaper coverage if you have maintained a clean driving record.

4. Add your Exotic car onto an existing Policy as a second Vehicle

Another tip to lower your monthly insurance bill is to add your dream car to a current policy plan and not drive much. Classifying it as a second vehicle that is rarely driven will bring your insurance costs way down. Make sure you drive less than 1,000 miles a month and don’t get any tickets.

5. Go Online to get Great Deals

The internet shapes our lives, from how we work to how we buy simple things like pizza. It has made our lives more productive and is the ultimate tool for finding great deals on almost anything. Automobile coverage is no different. On sites like good go insurance, you can find cheap exotic car insurance in just a few minutes. 

All you need to do is go online and apply for a free comparison quote. You can check prices from all the top providers on your smartphone or laptop. Get started today and get cheaper coverage.