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The first question is tricky. Every insurance provider has a different definition for what constitutes a sports car. However, if your car looks, drives, and feels sporty, then odds are it will be categorized as a sports car by your insurer.

Each insurer has its own computation based system for classifying cars. They take a number of factors into account, including: engine type, manufacturer, body style, engine size, full model name, model/series, body, engine, cylinders, restraint, restraint indicator, anti-lock, transmission, other options, daytime running lights, wheel base, class code, anti-theft, curb weight, gross vehicle weight, height, horsepower. When defining a sports car, the insurer will evaluate it against its company proprietary ranking system to determine whether or not to charge you sports car premiums.

A very general insurance definition of a sports car would be: an automobile that is equipped for racing, aerodynamically shaped, has one or two passenger seating, low center of gravity, and high speed steering and suspension designed for precise control.

As for what happens to your premiums, this one is easy. Your premiums will go up, and depending on the car, they can go up quite substantially. Speed comes with a price, my friend.

If you are seriously considering purchasing a sports car, it would not be amiss to call around and find out the various premiums you would be paying to insure the sports car. It might be more money than you can afford.

High performance cars are not always the same thing as sports cars. Sports cars generally have less consideration on interior luxury and comfort. Fuel economy is also a non-factor. A luxurious sports car will still be classified as a sports car as opposed to a luxury car though. Even if the insurer distinguishes between a sports car and high performance car, both will still have higher premiums.

Vehicles that have undergone modification to become a sporting automobile will also be classified as a sports car.

Why are the premiums so much higher? The general philosophy behind the premiums is that if you have a fast, sporty car, then you're probably going to push it to its full potential. And when you do, you put yourself and your vehicle at greater risk. Face it, they have a point. Why own a sports car if you're never going to tap its full potential?

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