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Many high-performance car enthusiasts assume that owning one comes with sky-high insurance premiums. However, several high-performance models offer a balance of power, style and relatively affordable insurance rates. These cars allow drivers to experience the thrill without breaking the bank on insurance costs.
In this guide, we’ll explore some high-performance vehicles that deliver exhilarating driving experiences and come with more reasonable insurance premiums than you might expect.
Key Takeaways
- Not all high-performance cars are equally expensive to insure. To get more affordable insurance premiums, opt for models with strong safety ratings, lower theft rates and moderate repair costs.
- Factors like vehicle horsepower, accident statistics, repair expenses and driver demographics influence insurance rates.
- Insurance costs vary widely between providers for the same vehicle. Shopping around and getting quotes from several insurers before purchasing can help you find the most affordable rate for your high-performance car.
Average car insurance rates for fast cars
A fast car’s performance often comes with a price tag – not just at the dealership but also in terms of car insurance. High-performance cars often have higher insurance premiums due to increased risk and value. The more powerful the engine and the more expensive the car, the more you can expect to pay for coverage.
Below, you’ll see the average annual premium for some of the most popular high-performance cars.
| Make & model | Annual Premium |
|---|---|
| Tesla Model S Plaid | $4,563 |
| Chevrolet Camaro ZL1 | $3,016 |
| Chevrolet Corvette Z06 1LZ | $3,288 |
| Chevrolet Camaro LT1 | $2,318 |
| Ford Mustang GT Premium | $2,447 |
| Chevrolet Camaro 1SS | $2,443 |
| Dodge Challenger SRT Super Stock | $4,440 |
| Dodge Charger SRT Hellcat Widebody Jailbreak | $4,607 |
| Chevrolet Corvette Stingray 1LT | $2,870 |
| Tesla Model S | $4,005 |
Which insurance companies provide cheap insurance rates for fast cars
Finding affordable coverage for a high-performance or fast car can be challenging due to the vehicle’s increased risk and higher value. However, many insurance companies offer competitive rates for fast cars, making it easier for owners to get comprehensive coverage without breaking the bank.
Camaro LT1
State Farm offers the lowest premium at $1,703, followed by Nationwide at $2,123 and GEICO at $2,212. Below, you’ll find a list of the cheapest car insurance companies for your Camaro LT1.
| Company | Annual premium |
|---|---|
| Allstate | $2,776 |
| Farmers | $2,450 |
| GEICO | $2,212 |
| Nationwide | $2,123 |
| Progressive | $2,662 |
| State Farm | $1,703 |
Camaro 1SS
If you’re looking for affordable car insurance rates for your Camaro 1SS, State Farm offers the lowest annual premium at $1,894. Other affordable car insurers include GEICO at $2,213, Nationwide at $2,123, and Farmers at $2,465.
| Company | Annual premium |
|---|---|
| Allstate | $3,264 |
| Farmers | $2,465 |
| GEICO | $2,213 |
| Nationwide | $2,123 |
| Progressive | $2,669 |
| State Farm | $1,894 |
Camaro ZL1
State Farm offers the most affordable insurance rate for the Camaro ZL1 with an annual premium of $2,214, followed by Nationwide at $2,540 and Progressive at $2,692.
| Company | Annual premium |
|---|---|
| Allstate | $4,204 |
| Farmers | $3,057 |
| GEICO | $3,304 |
| Nationwide | $2,540 |
| Progressive | $2,692 |
| State Farm | $2,214 |
Challenger SRT Super Stock
State Farm has the cheapest car insurance rates for the Challenger SRT Super Stock, with an average annual cost of $2,714. Nationwide is the second most affordable insurance company at $3,347, followed by Farmers at $4,017.
| Company | Annual premium |
|---|---|
| Allstate | $4,843 |
| Farmers | $4,017 |
| GEICO | $6,447 |
| Nationwide | $3,347 |
| Progressive | $4,968 |
| State Farm | $2,714 |
Dodge Charger SRT Hellcat Widebody Jailbreak
State Farm is also the cheapest car insurance company for a Dodge Charger SRT Hellcat Widebody Jailbreak with an annual premium of $2,731. Nationwide also offers affordable insurance at $2,806.
The table below shows car insurance companies with affordable rates.
| Company | Annual premium |
|---|---|
| Allstate | $5,264 |
| Farmers | $4,211 |
| GEICO | $6,659 |
| Nationwide | $2,806 |
| Progressive | $5,578 |
| State Farm | $2,731 |
Corvette Stingray 1LT
State Farm provides the cheapest car insurance rates for a Chevrolet Corvette Stringrat 1LT at an average cost of $1,903 a year. See other insurance companies with affordable premiums below.
| Company | Annual premium |
|---|---|
| Allstate | $4,349 |
| Farmers | $3,742 |
| GEICO | $2,671 |
| Nationwide | $1,615 |
| Progressive | $2,974 |
| State Farm | $1,903 |
Chevrolet Corvette Z06 1LZ
State Farm offers the lowest premium, at $2,450 annually, making it an excellent choice for those seeking affordable Chevrolet Corvette Z06 1LZ insurance. Nationwide and GEICO also provide cheap insurance rates.
| Company | Annual premium |
|---|---|
| Allstate | $5,278 |
| Farmers | $4,084 |
| GEICO | $3,396 |
| Nationwide | $1,744 |
| Progressive | $3,052 |
| State Farm | $2,122 |
Tesla Model S
State Farm, Nationwide and Progressive offer cheap car insurance rates for the Tesla Model S. On the other hand, Allstate’s car insurance rates are the most expensive, with an average annual cost of $6,032.
| Company | Annual premium |
|---|---|
| Allstate | $6,032 |
| Farmers | $4,659 |
| GEICO | $4,135 |
| Nationwide | $2,395 |
| Progressive | $4,285 |
| State Farm | $2,443 |
Tesla Model S Plaid
Nationwide and State Farm offer the most affordable car insurance premiums for Tesla Model S Plaid at $2,467 and $2,860, respectively. Below are auto insurance rates for a Tesla Modle S Plaid from different insurance companies.
| Company | Annual premium |
|---|---|
| Allstate | $8,402 |
| Farmers | $4,686 |
| GEICO | $4,363 |
| Nationwide | $2,467 |
| Progressive | $4,293 |
| State Farm | $2,860 |
Mustang GT Premium
State Farm has the cheapest car insurance rates for Mustang GT Premium at $1,651 a year. Your rates will vary based on your age, driver profile and location. Make sure you compare quotes from multiple carriers to find the one that fits your budget.
Below is a list of insurers that offer cheap car insurance rates for Mustang GT Premium.
| Company | Annual premium |
|---|---|
| Allstate | $3,292 |
| Farmers | $2,524 |
| GEICO | $2,383 |
| Nationwide | $1,912 |
| Progressive | $2,875 |
| State Farm | $1,651 |
The bottom line
Finding a high-performance car without steep insurance premiums can be challenging. Insurance rates for such vehicles are typically higher due to the increased risk of accidents and costly repairs. However, some high-performance cars are known for being more insurance-friendly.
QuickTake
What is a muscle car, and how much does muscle car insurance cost?
A muscle car is a term used to describe a class of high-performance vehicles that are equipped with powerful engines and designed for high-speed driving.
The term “muscle car” emerged in the mid-1960s to describe street vehicles equipped with powerful engines. Initially, these cars were standard models that owners modified by upgrading the engines and designs to enhance power and speed.
Muscle cars include Tesla Model S Plaid, Chevrolet Camaro ZL1, Chevrolet Corvette Z06 1LZ, Chevrolet Camaro LT1, Ford Mustang GT Premium, Chevrolet Camaro 1SS, Dodge Challenger SRT Super Stock, Dodge Charger SRT Hellcat Widebody Jailbreak, Chevrolet Corvette Stingray and Tesla Model S.
Based on our rate analysis, car insurance for a Chevrolet Camaro LT1 costs an average of $2,318 a year.
In detail, let’s learn more about these fast cars with cheap insurance rates.
Tesla Model S Plaid
Average annual premium: $4,563
Insurance cost per horsepower: $4.47
The Tesla Model S Plaid combines advanced electric performance with practicality, featuring a tri-motor all-wheel-drive system, over 1,020 horsepower, a 0-60 mph acceleration in under two seconds, and an EPA-estimated range of 390 miles.
Chevrolet Camaro ZL1
Average annual premium: $3,016
Insurance cost per horsepower: $4.64
The 2024 Chevrolet Camaro ZL1 stands out in the lineup with its 650 horsepower and advanced performance technology, offering strong straight-line speed along with impressive handling and control on winding roads.
Chevrolet Corvette Z06 1LZ
Average annual premium: $3,288
Insurance cost per horsepower: $4.91
The 2024 Chevrolet Corvette Z06 1LZ, the entry point to the Z06 lineup, features a 5.5-liter V8 engine with a flat-plane crankshaft producing 670 horsepower, paired with a track-tuned suspension and aerodynamic enhancements for a focused performance experience.
Chevrolet Camaro LT1
Average annual premium: $2,318
Insurance cost per horsepower: $5.09
The 2024 Chevrolet Camaro LT1 offers a 3.6L V6 engine with 455 horsepower, blending performance with a sleek design and modern features like a touchscreen infotainment system, making it a solid choice for driving enthusiasts.
Ford Mustang GT Premium
Average annual premium: $2,447
Insurance cost per horsepower: $5.32
The 2024 Mustang, now in its seventh generation, combines classic design with accessible performance options, offering a choice between a 5.0-liter V8 and an EcoBoost turbocharged four-cylinder, alongside an upgraded infotainment system for a modern driving experience.
Chevrolet Camaro 1SS
Average annual premium: $2,443
Insurance cost per horsepower: $5.37
The 2024 Chevrolet Camaro 1SS Convertible features a 455-horsepower V8 engine, advanced technology, and safety features, offering a balance of performance and practicality, with the added enjoyment of open-air driving.
Dodge Challenger SRT Super Stock
Average annual premium: $4,440
Insurance cost per horsepower: $5.50
The Dodge Challenger SRT Super Stock, with its supercharged 6.2-liter V8 engine producing 807 horsepower, combines bold widebody styling and enhanced grip with thrilling acceleration, reaching 0 to 60 mph in just over three seconds.
Frequently asked questions
Is a Corvette considered a fast car?
Yes, the Chevrolet Corvette is generally considered a fast car. As an iconic American sports car, the Corvette has a long-standing reputation for high performance and speed, competing with many luxury and exotic sports cars
Do fast cars have higher insurance?
Yes, fast cars generally have higher insurance premiums compared to standard vehicles. Insurance companies calculate premiums based on the risk of insuring a particular vehicle. High-performance cars are designed for speed and agility, which may encourage drivers to accelerate quickly or drive at higher speeds. This behavior increases the likelihood of accidents, making them riskier to insure.