Check Car Insurance Costs Before Purchasing a Drop Top

Heading our to the Outer Banks with the top down?  Maybe cruise the Smokies with the wind in your hair? Well my Carolina friends, here's some information you may want to consider before splurging on that convertible!

So your heart’s set on driving off the dealership lot with the top down and the sun on your face, the envy of each onlooker you pass. But, have you checked in with your local insurance agent about the cost of insuring a convertible?

You may think it’s only a myth that convertibles are expensive to insure, but, in many cases, there’s some truth to the notion.

It’s important to have realistic expectations about the cost of insuring a convertible. To help, here are four reasons why you may spend more insuring a convertible than you would a less envy-evoking ride (the best way to know what will or won’t impact your rates, of course, is checking insurance costs with your local agent):

1. Convertibles Cost More to Purchase, More to Insure
   Car insurance rates can vary greatly from vehicle to vehicle. In general, the more your car is worth, the more it will cost to insure. Convertible cars cost more to purchase than a similar model with a fixed top and not just because they’re so fun drive. It’s because they have added safety features and additional moving parts that operate the top. Therefore, convertibles can also cost more to insure.
    
2. Higher Horsepower, Higher Insurance Costs
   If your convertible just so happens to be a sports car with a V6 or V8 engine, too, you should expect to possibly pay more for car insurance. Cars with a higher top speed are at greater risk of a high-speed collision.
    
3. Soft Top Convertibles Are Prone to Theft and Vandalism 
   Slicing open your convertible top may be an act of vandalism, a way for thieves to steal items from inside your car or a way to make off with the car itself. Because of these soft-top risks, convertibles may cost more to insure.
    
4. Hardtop Convertibles Have Added Weight
   The weight of your vehicle can factor into your car insurance premiums. A retractable hardtop adds considerable weight, and possibly insurance costs, to your vehicle.

Of course, many other factors influence how much you’ll pay to insure a convertible. These include your age, your driving history and the amount of driving you do. So, don’t skip the check-in with your local insurance agent on your way to purchase a convertible. Be certain you can afford both the monthly car payments and the monthly insurance costs.

It may sound like we’re trying to sway you from the car of your dreams, but we’re not. We just want you to be financially sound and protected when you’re rolling with the top down.

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