What Auto Insurance Coverage is Best for Convertibles?

The best auto insurance coverage for convertibles will cover your convertible car in case it is stolen or vandalized. Convertibles are stolen more frequently than other vehicles, and you will want a comprehensive auto insurance policy to cover your loss. The average auto insurance rates for convertibles is $200 per month, but the best car insurance coverage for convertible cars may be higher than that. Enter your ZIP code below to compare convertible car insurance quotes in your area for free.

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Rachel Bodine graduated from college with a BA in English. She has since worked as a Feature Writer in the insurance industry and gained a deep knowledge of state and countrywide insurance laws and rates. Her research and writing focus on helping readers understand their insurance coverage and how to find savings. Her expert advice on insurance has been featured on sites like PhotoEnforced, All...

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Written by Rachel Bodine
Insurance Feature Writer Rachel Bodine

Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insurance...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years Leslie Kasperowicz

UPDATED: Jun 6, 2022

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Convertibles tend to be more expensive than an average vehicle. However, there are still plenty of good insurance options for convertible owners.

Today, we’re explaining everything you need to know about which auto insurance coverage is best for convertibles.

Expect to Pay Around $200 Per Month for Convertible Car Insurance

The average convertible owner in the United States pays $200 per month for car insurance. However, rates can vary widely among insurers and among different vehicles.

Someone who drives a new Audi A5 convertible, for example, is going to pay different car insurance premiums than someone driving a 2001 BMW 3-series convertible.

Statistics show, however, that the average car insurance premiums for convertibles work out to around $200 per month or $2400 per year. That’s roughly twice as much as the average car insurance premiums in the United States.

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Why Do Convertibles Have Higher Insurance Premiums?

Why do convertibles have higher insurance premiums? There are several reasons why convertible owners tend to pay more for car insurance.

Obviously, convertibles tend to be more valuable than an average car.

However, convertibles are also stolen and vandalized more frequently than other vehicles. Plus, they tend to have costlier repair expenses. Even a minor accident can cause thousands of dollars of repair costs on your convertible.

There’s also the fact that convertible owners tend to buy comprehensive and collision coverage for their vehicles – not just liability coverage. Convertible owners want their cars to be protected in all situations, which is why they buy full coverage auto insurance instead of just standard liability insurance.

Weight also plays a factor. Convertibles are heavier than the average vehicle. They’re designed this way to reduce the risk of rolling: the higher weight gives the convertible better stability. However, the heavier weight also means that the car needs more horsepower. Cars with higher horsepower are almost always more expensive to insure.

The higher horsepower and speed will increase the chances of an accident, increasing the likelihood that the insured has to file a claim. Plus, when a car with high horsepower gets into an accident at high speed, the car is often totaled. Instead of paying a few thousand dollars to repair the car, the insurance company has to compensate the owner for the full value of the vehicle.

One final factor that increases car insurance premiums is that convertibles are easier to steal and more desirable to steal. Thieves might be able to cut into soft top convertibles to gain entry to the vehicle, for example (which is also why hardtop convertibles tend to be cheaper to insure). Similarly, some convertible owners will leave their car uncovered when it’s parked for a short period of time.

This not only increases the chances of your car being stolen, but it can also increase the chances of vandalism. A thief can cut into your soft top convertible while it’s parked to gain access to your possessions inside.

Keep in mind that hardtop convertibles are slightly less expensive to insure compared to soft top convertibles.

Other Factors that Affect Car Insurance Rates for Convertible Owners

The factors listed above are just a few of the reasons why convertible owners pay higher prices for car insurance. Other factors include:

Types of Coverage: Full coverage policies cost more than basic liability plans. Unless you have a really old convertible with limited value, you will most likely want to have full coverage car insurance, which covers accidents and non-accident-related damages.

Age and Gender: Young males pay more for car insurance than young females. As you get older, this trend reverses, and middle-aged males tend to pay less for car insurance than middle-aged females. Depending on your age and gender, you could pay more or less for convertible car insurance.

ZIP Code: Your neighborhood has a significant impact on car insurance premiums. Where do you live? Where do you park your car at night? Your car insurance company uses this information to calculate the chance your car will get into an accident, get broken into, or be stolen. Certain neighborhoods are associated with higher claims rates than others.

Mileage: How much do you drive your convertible each year? If you live in a winter climate, you might only drive your convertible a few months a year.

Deductibles and Coverage Limits: The amount of your deductible can affect convertible car insurance premiums. Similarly, your coverage limits can also play a role.

Which Company Offers the Best Car Insurance for Convertibles?

No specific car insurance company in the United States specializes in insuring convertibles. There isn’t a single company that’s known as “the best car insurer for convertibles”.

All major car insurance companies tend to offer competitive premiums for convertible owners.

With that in mind, we recommend comparing car insurance policies today using an online comparison website. On our site, you can enter your ZIP code to instantly view car insurance premium information for companies in your area.

Research and compare quotes, then pick the car insurance company that works for your unique needs. With a little bit of research, you can find the best possible car insurance for convertibles.

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