Auto insurance for an athlete is usually higher than the average auto insurance. Professional athletes mostly buy luxury cars or sports vehicles, whereas college athletes are high-risk drivers; both have higher insurance rates up to almost $90 per month. Hence, securing athlete car insurance might be expensive. Still, you can get affordable athlete insurance rates by shopping and comparing the auto insurance rates, and getting discounts and coverage options.
Please read this article to know all about athlete auto insurance and compare their rates. No website might give you clear-cut auto insurance rates for the athlete, but you can have athlete auto insurance quotations.
How Much Does Athlete Auto Insurance Cost?
The auto insurance rate varies depending on the insurance company, vehicle manufacturer, and model, along with the driver’s driving history and age. According to the statistics of NAIC (National Association of Insurance Commissioners), on average, the total cost of auto insurance coverage is $1,078 per annum or $90 monthly. But on the contrary, auto insurance rates for athletes are expensive. Continue reading the article to know why. There are two types of athletes:
A. Pro Athlete Auto Insurance Rates
Usually, pro athletes buy expensive auto vehicles. Such vehicles cost more than $50.000 and have higher auto insurance coverage than the average auto insurance. As an example, let’s take a look at the complete auto insurance coverage on luxury cars and sports vehicles.
- Cadillac Escalade (2020) – $1,876 per year
- Mercedes-Benz C300 (2020) – $1,622 per year
- 2020 Dodge Challenger – $1,664 per year
The abovementioned auto insurance rates are set based on a 40-year-old driver who has $500 deductibles on auto insurance coverage. Whereas drivers under the age of 30 have to pay a higher premium. For instance, a 23-year-old pro athlete has to pay auto insurance of approximately $6,000/year on a 2020 Cadillac Escalade.
Still, a policyholder can avoid having expensive auto insurance rates with discounts available on auto insurance. And the most genuine and fastest way to have an insurance discount is to have a good driving record and credits.
B. College Athlete Auto Insurance Rates
Usually, college-athletes want to stay under their parents’ car insurance policy, as having a separate policy might be expensive. Let’s compare the college students’ auto insurance rates with other age groups to have a clearer idea. Primarily, college students between 18 to 24 of age, and the auto insurance rates are higher than the average auto insurance among this age group.
Hence, we recommend young college-athletes avoid high insurance premiums each month by remaining under their parent’s car insurance policy.
Type of Auto Insurance a Professional Athlete Needs
Every driver needs liability auto insurance. A pro athlete requires optimal coverage such as full coverage insurance as the athlete’s vehicle is more expensive than the average driver’s. Pro athletes tend to invest in collision and comprehensive coverage, purchasing emergency roadside assistance, rental car compensation, mechanical breakdown insurance, and GAP insurance.
Does Success Affect Auto Insurance Risk?
Mainly, the largest auto insurance companies provide coverage to pro athletes. Many auto insurance companies also offer endorsements to the pro athletes of the world. Like any other person, pro athletes can tailor their insurance policy, but they can have enormous insurance solutions because of their budget. Insurance companies don’t directly advertise such specialty insurance products, so athletes need to ask about affiliate programs that meet their auto insurance coverage needs.
Athlete auto insurance is an interchangeable term used for auto insurance for the athlete. When you get an auto insurance quote, mention your occupation and vehicle model, driving history, and travel distance during the coverage.
Hence, high earning and successful athletes’ auto insurance is expensive than the average insurance cost as they have a taste for expensive cars. But before you buy athlete auto insurance, shop for the auto insurance companies and compare the offered insurance rates.