Drivers having fun in convertible.

Convertibles are not always practical but they are just plain fun. Dropping the top and hitting the road is a summertime ritual that is definitely a blast. Unfortunately, convertibles can put a serious dent in your budget. They can be expensive to purchase and even more costly to insure. According to’s “Average insurance rates for your 2017 car” data, the nationwide average insurance premium for a convertible was $2,081 a year.

Luckily, we have found five convertibles that are pretty easy on the pocketbook when it comes to both purchase price and insurance costs.

The number one drop-top on our list is a bargain with a list price just over $16,000 and insurance costs that are an astounding 31 percent less than the national average.

Best Car Insurance Offers For You
Valid zip code required
Select Insurer
Please select your current insurer.
x A good driver means:

Have no accidents or violations in the last 3 years.

Don't have a DUI.

Don't need an SR22.

Get Quotes

Keep reading to find a ragtop that will make summertime driving tons of fun but won't break the bank.

(All vehicle images courtesy of their respective manufacturers. All other images: Getty Images.)

Why convertibles cost more to insure

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.’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.

Exceptions: 5 convertibles that are very affordable to insure

Affordable to insure convertibles

We pulled quotes on a wide range of convertibles to find which ones were the cheapest to insure. While you're not going to set any land speed records in these vehicles, they all have a drop top and are extremely affordable to insure.

Fortunately, the cost to insure the convertibles on our list are well below the national average – ranging from about $655 to $860 less than the national average for convertibles ($2,081). So you can head out on the highway, get the wind in your hair and still have a bit of coin in your pocket. Our list of affordable convertibles are all also between $200 and $380 below the national average car insurance rate for all vehicles ($1,605).

If you are looking to put a convertible in your garage, you can't go wrong with one of these:

2017 Fiat 500 C Pop

Fiat Pop C convertible

Average annual premium: $1,225

A low starting price (the 500 starts at $16,490) helps make this convertible the cheapest one on our list when it comes to insurance. "The Fiat is well priced and not particularly high-powered which helps keep insurance affordable," says Chris Riley, founder of Gearheads.

The 500 C has a 1.4L engine that puts out a pretty modest 101 horsepower and is well outfitted when it comes to safety equipment, which also helps with insurance costs. The 500 managed a 4-star (out of 5) rating from the National Highway Traffic Safety Administration (NHTSA) and the highest rating of "Good" in all categories except one by the Insurance Information Institute.

2017 Mazda MX-5 Miata Sport

2017 Mazda MX-5 Miata Sport

Average annual premium: $1,270

The Miata is an iconic roadster that is fun to drive, loaded with safety features and extremely affordable to insure. While most of the convertibles on our list would not be considered a sports car, that is not true for the Miata.

Luckily, it's not too muscly, which can push up insurance rates. "The MX-5 is a more balanced sports car. It's fun to drive and handles well but has an appropriate level of power for the car - it's not a muscle car, but it's not slow either," says Brian Moody, Executive Editor at Autotrader.

A wide array of standard safety features help keep premiums reasonable. "The Miata is loaded with safety features and has a record of low loss costs paid out to settle claims," points out Mike Kariotis, owner of Insure on the Spot.

2017 Smart Fortwo Passion

SmartForTwo Passion

Average annual premium: $1,280

The Smart Fortwo Passion is a small droptop that comes with a tiny insurance bill. You can put one of these beauties in your driveway for as little as $18,900 and a low price point often results in a low insurance bill.

"The Fortwo is extremely unpopular with car thieves, has a low starting price and gets pretty decent safety ratings, all of which help lower insurance costs," says Riley.

Due to its extremely small size, safety is a top priority with the Fortwo. It uses a Tridion Safety Cell to keep driver and passenger safe as well as eight advanced airbags. These types of safety features keep insurance costs in line. "Cars with high quality safety equipment usually qualify for premium discounts," says Worters.

2017 MINI Cooper (2-door; 1.6L Turbo)

2017 MiniCooper convertible

Average annual premium: $1,297

The MINI Cooper is not only one of the best looking convertibles available, it's offered in a number of different trim levels so you can outfit it to your exact specifications. The Cooper is also a Top Safety Pick according to the Insurance Institute for Highway Safety, which definitely drives down the cost of insurance.

Standard safety features include dynamic stability control, a heads up display, cornering brake control and adaptive cruise control. Insurers love technology that reduces the risk of an accident while also reducing the damage if an accident does happen.

"The MINI has rock-bottom theft rates, often making least-stolen car lists which is a big reason the MINI is so affordable to insure," says Riley.

2017 Fiat 124 Spyder Abarth

Fiat Spyder

Average annual premium: $1,408

The Fiat 124 Spyder is the most expensive convertible to insure on our list, probably because it is the sportiest car on the list. While the Spyder has the most powerful engine of the cars on our list (it generates 160 HP), its still pretty tame in the world of sports cars.

"The Fiat and other cars on the list are not overly powerful and that can be a factor in lower insurance costs," points out Moody.

The Spyder also enjoys a pretty low starting price. The base model starts at $24,995 and a variety of available safety equipment such as blind spot monitoring and rear cross path detection up the safety factor.

Tips for insuring a new car


Temporarily cover your new car with your current policy: In most cases, your insurance company will extend coverage from your existing policy to the new vehicle for a short period of time – typically seven to 30 days.

Compare car insurance quotes: Your rates will likely change when you buy a car, they could increase or decrease, depending on the type of vehicle you purchase. For example, insurers will review how much it costs to repair the car and how safe it is to drive. This is why it’s wise to know how to shop your policy when you’re buying a new car. You might find a new company offers a lower rate when you factor in the vehicle type.

Be sure you have sufficient coverage: If you’re buying a new car you’ll need comprehensive and collision coverage, in addition to liability insurance. If you own a home or have any savings, it’s recommended to buy more than the state-mandated liability limits. Full coverage, (liability with comp and collision) is required if you are financing the car and getting a loan. It’s also wise to buy gap insurance, which pays out the difference between what you still owe and the amount your insurer will pay if the car is totaled while relatively new.

Car insurance rates for 2017 model vehicles


If the five convertibles on our list aren’t exactly what you’re looking for, check out’s “Average car insurance rates for your 2017 car” tool. It shows average car insurance rates in every state for more than 2,800 different vehicle models. You can select multiple models for a side-by-side comparison of rates.