Drive Your Dream Blog

Whether you drive a Bentley or a Beetle, car insurance is expensive. In fact, over the life of a car, a typical driver spends about $7,000 on car insurance. This expense is much higher for those with poor driving records or those who own exotic sports cars.

Regardless of what you drive, you may be able to save money by shopping harder for your next auto policy. For some reason, most people don’t comparison shop for car insurance, even though the price charged for comparable coverage can vary significantly.

The consumer watchdogs at Consumer Reports advise drivers to lose their reluctance and comparison shop at least once a year for car insurance.

The National Association of Insurance Commissioners is a good place to start. Their site includes a free guide to understanding and shopping for auto insurance. In addition, the association page has links to help consumers find information about firms offering auto insurance and determine if they are licensed in the state.

Smart consumers can also lower their automotive insurance costs by factoring in insurance costs when buying new or used cars. A vehicle with a better combination of safety options or a stellar crash safety record may be less costly to insure. A call to your insurance agent for a quote before you sign the paperwork can avoid a costly surprise.

Exotic car fans have found an interesting solution to rising auto insurance costs. Instead of purchasing a single dream car, they are joining exotic car sharing clubs. In fractional ownership clubs, the costs of insurance are shared among the several owners. In some other exotic car sharing clubs, members do not insure the cars because the club owns them.

“The initial price of an exotic car is just one piece of the puzzle,” says Ron Sturgeon, owner of a Dallas exotic car club. “On top of the MSRP, a potential exotic car owner has to consider maintenance, depreciation, storage, and insurance.”

Few people drive an exotic car as their daily driving car, so the costs per mile driven can be quite high. Members of car clubs that have the club own the cars share the experience of driving a collection of the best performance cars in the world without worrying about maintenance, insurance, storage or other costs.

“We see a lot of people who don’t want to hassle with insuring an exotic car,” says the small business consultant and car club owner. “It’s just too much trouble and expense, but they still want to drive a Ferrari, Bentley, or Aston Martin occasionally,” insists the proprietor of the Dallas exotic car sharing club.

“Membership in the DFW Elite Car Club is a great way for experience driving them all,” says Sturgeon. To find an exotic car club in your city, visit a directory of exotic car clubs at http://www.exoticcarclubs.com.

Kate Miller-Wilson is a freelance writer living in the Twin Cities. She regularly contributes stories about exotic and luxury cars to our blogs. Visit her website or email her for information about her freelance writing services.