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Why convertibles cost more to insure

Last updated: Aug. 10, 2017

By , Insure.com

Convertibles cost more to insure

 

 

There is nothing like cruising down the highway in a convertible but it can be an expensive treat when it comes to insurance. Insure.com’s rate analysis data show that insurance costs for convertibles are 16 percent more expensive than hardtop cars.

When we ran the numbers, the nationwide average for convertibles came in at $2,081 per year while the average for all vehicles was $1,605. Convertibles are almost always more expensive to insure than a hard top for a number of different reasons, but our list highlights the exceptions.

Still, droptops tend to be more expensive than hardtops and the purchase price of a car can have a big impact on insurance costs. "The price of the car itself can be major rate factor, as are repair costs" says Loretta Worters, spokesperson for the Insurance Information Institute.

A motorized top can add significant expense to a repair. In addition to repair costs, a soft top ups your risk of weather damage. A tear in the roof or broken seal can result in a car full of water during a heavy rain leading to an insurance claim.

The soft top can also be an easy entry point for thieves. "If it's a soft top, it's very easy to break in and steal the car," says Worters. "In fact, convertibles are consistently listed among the most stolen cars in the U.S., and are a constant target for thieves simply because it's easier to break-in to them."

Finally, convertibles tend to be more expensive to insure because in many cases they are high-horsepower sports cars. While this is not always the case, there are certainly low-powered convertibles, as you’ll see in our list, it does impact the entire category of cars.

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