Coupe cars are all the rage these days. They’re sleek, they’re stylish, and they’re fast! But with their popularity comes a new set of problems for people who want to buy insurance coverage on them. Here are five insider tips that will help you find the right policy at an affordable price so you can get back out on the road in no time!
1. Break out the tools!
If you have a mechanics tool set, then it’s time to bust that baby out. Coupe car insurance policies are all about details. Before you even think about entering your information into an online quote form, you’ll need to know the model number of your coupe, as well as what kind of body style it has. You’ll also need to know if your coupe is an imported or domestically-manufactured vehicle, as well as the make and model of its engine. This information can help you find a policy that’s specific to your needs.
2. Research Research Research!
There are tons of online quote generators out there, but which one should you use? The key is to do your research. Find out which insurance company insures the biggest percentage of coupe models, and compare their rates against other companies that you’re considering. You might end up finding that a particular company offers lower premiums than its competitors, even though it insures less coupe styles.
3. Expand Your Options
Many people assume that it’s impossible to get insurance on a coupe until they turn 25. But this isn’t the case! You can find great deals on coupe car insurance even when you are still younger than 25 years of age. However, there are two options that you can choose from when getting coverage while under the age of 25:
a. Add a driver over the age of 25 to your policy
By adding an older, more experienced driver to your insurance plan, you can lower the cost of your premium by increasing the amount of coverage that they receive from the company. You can also benefit from having them under your insurance policy since you’ll be able to keep all other drivers of your coupe insured under the same plan.
b. Purchase a new sports car
If you can afford it, buying a brand-new sports car is often cheaper than insuring a used one. Not only that, but new sports cars tend to be lower in weight and have better gas mileage – which means more savings for you!
4. Make the Most of Your Deductible
Another way to reduce your premium is by choosing a higher deductible than you would for most other insurance policies. Keep in mind that this doesn’t mean that you can simply choose $1,000 as your deductible and expect not to pay it – if you’re in an accident and damage exceeds your deductible amount, you’re still responsible for paying the remaining balance. However, this can help lower your policy premium by several hundred dollars a year.
5. Don’t Forget About Liability!
If you have an accident and don’t have liability coverage, then you’ll be in big trouble when it comes time to pay for damages (and that’s ignoring the fact that you’ll be in legal trouble as well). According to state law, every car owner must have at least a minimum amount of liability coverage. Even if your coupe is worth less than ten grand, it’s best to get as high a limit as manageable – the higher a policy’s liability coverage, the lower its premium.
How can I find out what type of coupe I have?
If you know the make and model of your car, then it’s easy to find this information. You can also take your car to a dealership or mechanic for an inspection if you’re not sure what your car is called.
Can I add someone else’s sports car to my policy?
No – insurance policies can only include cars that are owned by the policyholder. If someone else owns the car, then you’ll need to get coverage for them separately. This is true even if they live in your household or if they frequently drive your coupe.
Can I insure and keep comprehensive and collision coverage on a car that I’ve purchased for cheap to use as an antique?
No – comprehensive and collision insurance is only available on cars that are still registered. Since your coupe would be older than two decades, it would not be eligible for coverage like this.
Can I add an older driver as a named insured to my policy?
Yes – if you’re under 25 and want to reduce the cost of your insurance, then adding an older driver is a great way to do so. The older person should be someone whose driving record would not necessarily disqualify them from getting car insurance on their own.
Am I required by law to carry a minimum amount of liability coverage?
Yes – every state has its own minimum limit for liability insurance, and you must adhere to them. The only person besides the policyholder who is automatically covered under a car insurance policy is a listed driver on that plan.
While Further Study Is Warranted
Did we miss anything? Do you have any questions about insurance coverage on a new coupe that we didn’t answer? If so, let us know in the comments below!