Secured with SHA-256 Encryption

Select Page

Is Insurance Higher on Convertibles?

Home » Auto Insurance » Is Insurance Higher on Convertibles?

FREE Car Insurance Comparison

Compare quotes from the top car insurance companies and save!

 Secured with SHA-256 Encryption

Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001...

Full Bio →

Written by

Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency...

Full Bio →

Reviewed byJoel Ohman
Founder, CFP®

UPDATED: Mar 13, 2020

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We partner with top insurance providers. This doesn't influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.


Insurance Q&A: “Is insurance higher on convertibles?”

Owning a convertible is cool. But being cool isn’t cheap. Therefore, insurance for a convertible is more expensive than for a hard top.

Don’t blame us, blame the Fonz. We don’t make the rules, we simply report them.

The “Cool” Insurance Fee

Thankfully, insurance companies aren’t gouging you because they know they can, based on the “cool principle,” which is certainly the case with many other products we use (iPhone insurance), or because convertibles are inherently more dangerous.

It turns out new safety technology makes convertibles about as safe as their helmeted counterparts.

But there is a method to their madness (how car insurance rates are determined).

Enter your zip code below to view companies that have cheap auto insurance rates.

 Secured with SHA-256 Encryption

Expensive Cars Cost More to Insure

If you decided you wanted a convertible prior to looking up the insurance costs, you’d notice the convertible model of the car costs more than the hard-top version.

Insurance rates for physical damage coverage on a car are based on the cost to repair that car in the event of a covered insurance claim.

Being that your convertible costs more to purchase and repair, your insurance rate will be higher. Don’t expect to see double the insurance premium, but expect it to cost more.

The higher the cost of the topless model, the higher the cost you can expect to insure it. There’s no way around it.

Convertibles Are Easier to Steal

Comprehensive insurance coverage will cover you in the event your car is stolen.

And guess what. It’s easier to steal a convertible than a hard-top, which means the insurance company incurs higher costs associated with convertibles being stolen.

This will add to your overall premium as well.

Get insurance quotes online or visit a local independent insurance agent to obtain quotes from multiple insurance companies before making your purchase.

You might be able to snag a lower premium for the convertible than you old hard-top by finding an insurer with lower overall rates.

(photo: liftarn)

FREE Car Insurance Comparison

Compare quotes from the top car insurance companies and save!

 Secured with SHA-256 Encryption