The cost of insurance for sports cars generally increases with horsepower and sticker price. Models included in our 2023 rate comparison range from the buget-friendly Mazda MX-5 Miata that has a MSRP of $28,050, to several luxury sports cars that can cost over $200,000 like the Acura NSX and Audi R8.
If you can afford to drop six figures on a car that probably isn’t even your primary vehicle, it’s likely that the insurance cost is not a big factor when buying a high-performance sports car.
Regardless, let’s take a look at the roundup of 2023 sports car models and see how insurance rates compare for the 26 cars in the segment.
How much does insurance cost for a sports car?
Just like the wide range of sticker prices on sports cars, insurance cost also varies broadly. From the Mazda MX-5 Miata at $1,630 per year to the Mercedes-Benz SL 63 at $3,600, the overall average rate for the sports car segment is $2,412 annually.
Insuring a sports car on average costs $727 more per year than the average vehicle. If you’re needing to budget monthly, expect the cost for full coverage to range from $136 to $300 per month, depending on the model.
The table below ranks insurance cost for the 26 models in the sports car segment by annual and monthly insurance cost.
| Rank | Make/Model | Annual Cost | Monthly Cost |
|---|---|---|---|
| 1 | Mazda MX-5 Miata | $1,630 | $136 |
| 2 | Audi TT | $1,828 | $152 |
| 3 | Ford Mustang | $1,914 | $160 |
| 4 | BMW Z4 | $1,928 | $161 |
| 5 | Subaru WRX | $1,948 | $162 |
| 6 | Nissan Z | $1,978 | $165 |
| 7 | Toyota GR Supra | $2,010 | $168 |
| 8 | Toyota GR86 | $2,034 | $170 |
| 9 | BMW M2 | $2,036 | $170 |
| 10 | Subaru BRZ | $2,128 | $177 |
| 11 | Chevrolet Corvette | $2,176 | $181 |
| 12 | BMW M3 | $2,224 | $185 |
| 13 | Lexus RC F | $2,270 | $189 |
| 14 | Porsche 718 | $2,272 | $189 |
| 15 | Chevrolet Camaro | $2,310 | $193 |
| 16 | Mercedes-Benz AMG GT53 | $2,448 | $204 |
| 17 | Jaguar F-Type | $2,534 | $211 |
| 18 | Porsche Taycan | $2,590 | $216 |
| 19 | BMW M4 | $2,622 | $219 |
| 20 | Lexus LC 500 | $2,652 | $221 |
| 21 | Dodge Challenger | $2,660 | $222 |
| 22 | Porsche 911 | $2,890 | $241 |
| 23 | Acura NSX | $3,268 | $272 |
| 24 | Audi R8 | $3,378 | $282 |
| 25 | Mercedes-Benz SL 55 | $3,382 | $282 |
| 26 | Mercedes-Benz SL 63 | $3,600 | $300 |
We do not include supercars like the McLaren F1, Ferrari Enzo, or Bugatti Veyron in our sports car comparison because they are in a class by themselves both performance-wise and cost-wise.
In addition, it would be difficult to insure that class of vehicle with a normal mainstream insurance company. Coverage would have to most likely come from a carrier that specializes in exotic, high-performance vehicles due to the specialized coverages required.
Which sports car has the cheapest insurance?
The cheapest 2023 model year sports car to insure is the Mazda MX-5 Miata, costing $1,630 per year, $815 for a 6-month policy, or around $136 per month. With the average sports car costing $2,412 per year for insurance, the Mazda MX-5 Miata will cost an average of $782 less each year.
With a 181 horsepower 2.0 liter engine putting out 151 lb-ft of torque through the 6-speed manual transmission, the Miata is not really on the same tier as a lot of the other sports cars in our comparison. Even the Club tier model that includes the optional Brembo/BBS/Recaro package only tops out at only around $38,000.
Second lowest insurance cost goes to the Audi TT at $1,828 per year, and third place is the Ford Mustang at $1,914 annually.
Which sports car is most expensive to insure?
The most expensive sports car to insure (excluding supercars) is the Mercedes-Benz SL 63, costing $3,600 per year. The Mercedes-Benz SL 63 will cost around $1,970 extra each year compared to the cheapest sports car to insure, the Mazda MX-5 Miata, which is not exactly an apples-to-apples comparison.
The most expensive Mercedes-Benz SL 63 trim will set you back $179,900 at a minimum. It’s definitely at the upper end of both cost and power in the sports car segment, resulting in the higher cost to insure.
How much is insurance on average for a sports car?
Full coverage insurance for the average 2023 model year sports car costs an estimated $2,412 per year. With the national average for all vehicles being around $1,685, insuring one of these sportsters will cost an additional $727 per year on average.
What is the most popular sports car in America?
The big three nameplates in America, Ford, Dodge, and Chevy, also build the three top-selling sports cars. The best-selling sports car in the U.S. is the Ford Mustang, with the Dodge Challenger and Chevrolet Camaro coming in second and third, respectively.
Sales for the sports car segment in general have declined over the last few years, due to the fact that baby boomers have surpassed their midlife crisis years and have moved on to luxury SUVs.
The spawn of the boomers, Generation X, have not aged enough (or saved enough) to start buying the more expensive sports cars. And until that happens, we can expect the sports car segment sales slump to continue.
