The Panoz Esperante is a hand-crafted sports car that costs around $150,000. In terms of your car insurance costs, you have two things that work against you. The first consideration is the price; and secondly is the fact that it’s a sport car. You can expect to pay at least $2,000 a month for your insurance for this car. Yes, that’s month- not year.

Enter your zip code and compare online insurance quotes for your Panoz Esperante now!

Car insurance companies can be the bane of the sports car enthusiasts existence. After all, just because you own a sports car doesn’t mean you are going to drive fast right? Well, unfortunately statistics prove that theory wrong and it almost seems instinctual for people who drive sports cars to push them to their limits.

This type of driving ends up costing car insurance companies millions of dollars a year. To circumvent some of that, no matter what type of driver you are, if you choose to drive a sports car, you are going to pay more for your insurance.

Then you have the cost of the Panoz Esperante. There are many insurance companies that won’t even insure a car that is that expensive because they don’t want to be responsible for the costs if you are the cause of an accident. A totaled Esperante is going to equal huge amounts of money for the insurance company, even if you have an older model.

The end result is a high level of insurance costs that you have to consider when you are in the market for a Panoz Esperante. Of course, you may be one of those people who don’t have to worry about money; but if you have saved years to afford this car, you need to tack on $24,000 a year in insurance costs!

Can I save money on my Panoz Esperante insurance?

Yes, as with any vehicle, there is room for savings on your car insurance. One of the things you might want to consider is an older model Esperante. A 2005 model, for example, costs around $50,000 to 80,000, depending on its condition. This can equate to more insurance options and lower monthly premiums.

Another thing that you can do is ensure that you purchase adequate anti theft devices for your car and park it in a secured location. This protection reduces the risk of theft and makes the insurance company feel a little more comfortable about insuring your vehicle.

If you are only driving your Esperante recreationally, then you need to let the insurance company know. If you are only taking it out on weekends or in the summer, then your insurance costs will be less because your risk of having an accident is much lower and you may get a low mileage discount.

You will find that some of the standard deductions apply for your Esperante insurance as well. For example, consider a higher deductible for your insurance to lower your monthly obligations. Take a safety course and/or a defensive driving course. Limit the drives on your vehicle and exclude teens from driving your Esperante. With a vehicle like this, if you list a teen driver you may find it is impossible to get insurance at all, so keep that in mind. And what teen should be driving a car of this price?

Are there safety features on my Panoz Esperante that will lower my insurance rates?

Unfortunately, this is a tough one to answer. A visit to the Panoz website shows that each car comes with anti lock breaks and dual airbags but that’s about it.

Because this is a custom-made car, made to order no less, there are no safety rating tests available for these beautiful cars. If you want more information about the safety of the Panoz, you have to contact the manufacturer directly; you aren’t going to find that information online.

The general consensus, however, is that this is larger than your standard sports car and that it will survive a crash better than your average sports car. But, without real tests to prove the safety, the insurance company won’t provide you with any discounts for safety.

How can I save money on my Panoz Esperante insurance then?

The only sure fire way to ensure that you get the lowest price possible on your Panoz Esperante is to get online quotes. You want to compare the costs of several insurance companies. It’s that simple.

You can do that by entering your zip code and getting your own online car insurance quotes now!