< Back



In India, many people dream of owning a sports car. Those who own sports, it may be one of their most prized possessions. These cars are in a league of their own, and have an in-comparable charm. Given the high price of these cars, it is your responsibility to safeguard them with a robust car insurance policy that provides wide coverage.

Factors affecting premium of sports car

IDV (Insured declared value)

The IDV or insured declared value of the vehicle is a critical factor that insurance companies consider while determining the premium for sports cars. IDV is the maximum compensation that the insurer pays upon total loss or theft of the vehicle. As compared to regular vehicles, the risks associated with sports are high because of the fast speed and powerful engines. Consequently, the IDV and premium for such cars are high.

Cost of spare parts

The spare parts of fast cars are specially made of high-quality materials, and therefore, they are expensive. If you get involved in an accident with your sports car, the cost of replacing these components will be much higher than those for regular vehicles.

Also, sometimes because of the limited manufacturing, the spare parts of the sports vehicles can be difficult to find, and you may have to import it from overseas. Because of all these factors, when you file a claim for damages to a sports car, the payout will be higher.

To mitigate the risk of high payment, the insurers charge a higher premium for sports cars.

Vehicle usage

The more you drive your sports car, more are the chances of meeting with an accident. So, if you drive your sports car frequently, be ready to pay a higher car insurance premium. However, you can reduce your premium, if you own a regular car, and use the sports car occasionally.

Probability of theft

Apart from being fast, sports cars look extremely appealing and attractive. They also attract the fancy of many anti-social elements, increasing the likelihood of theft. If a sports car is stolen, the cost of replacing it will be much higher than a regular car. So, if you park your car in the open or live in an area where car theft is common, you must pay a high car insurance premium.

Add-ons needed for sports vehicle

While it is mandatory for all car owners in India to have third-party insurance cover, you can get comprehensive car insurance. It helps you get coverage against third-party liabilities and own damages. Also, if you have comprehensive insurance, you can purchase add-ons and get additional protection for your sports car.

Some of the best add-ons you can buy for your sports car, include:

Zero depreciation cover

Depreciation applies to all automobiles. When you file a claim, the insurer deducts the depreciation amount before making the final settlement, meaning you have to bear the difference amount from your pocket. If you own a sports car, this amount could be high.

However, you can avoid this additional expense by purchasing zero depreciation cover. It allows you to get a full settlement from the insurer. While this rider may increase the car insurance premium, you can save a significant amount in the long run when you file a claim.

Engine protection cover

The engine of a sports car is the most important component. It is like the brain and heart of the car. Although most sports cars have cutting-edge design, any repair to the engine or engine pairs may cost a significant amount. If you have an engine protection cover, the insurer will pay for its repair or replacement cost up to the maximum policy’s limit.

Final Word

Sports cars are attractive, fast, and favourite among many. So, to safeguard these expensive machines against damages you must be ready to pay a higher premium. You can choose insurance cover, Kotak Car Secure policy for your prized possession from our Car insurance page.

Kotak car Secure is a comprehensive policy and comes with a wide range of benefits. You can visit the Kotak car insurance page to know more about the policy.

Disclaimer: The content provided is for education and informational purpose only, none of the information contained in our blog amounts to any form of opinion or advice. Please go through policy related documents carefully or consult an expert before making any insurance-related decisions.


Car Insurance Benefits


Benefits of car insurance

A car insurance can help you offset substantial financial loss that you may incur because of damage caused to your car

Add-on covers for Car Insurance


Must have Add On Covers for Car Insurance

A basic comprehensive car insurance covers damage to car, 3rd party liability and theft & loss of vehicle.

Car insurance


Right time to buy vehicle insurance

Buying a vehicle insurance is an important decision and you need to ensure that you make a timely purchase of vehicle insurance



Know How Car Insurance Premium Is Calculated

Car insurance premium calculation is based on various important factors. Learn about these factors.



Rules to follow for safe driving

Know About The Important Road Safety Rules To Follow





Significance of a motor vehicle insurance policy

Learn all the benefits a motor insurance policy has, aside from financial security.



Maintenance tips for car engine

Follow these engine maintenance tips and buy a car insurance with engine protection cover to keep engine secure.

Monsoon Tips Car


Monsoon Tips for Car

Simple tips to help you stay safe and keep your car moving ahead during monsoon.

What is Zero Depreciation Cover


What is Zero Depreciation Cover

Read on to understand what is zero depreciation car insurance cover and how it works.

Questions Regarding Motor Insurance Policies


Questions Regarding Motor Insurance Policies

Essential questions about motor vehicle insurance policies in India.