Best Auto Insurance for Convertibles in 2024 (Your Guide to the Top 10 Companies)
Discover the best auto insurance for convertibles with top picks State Farm, USAA, and Progressive, starting at just $40/month. These providers offer the most reliable coverage and competitive rates for convertible owners, ensuring value and security for your vehicle across various conditions.
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Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chris works tireles...
Licensed Insurance Agent
UPDATED: Oct 25, 2024
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Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Oct 25, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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The best auto insurance for convertibles is offered by State Farm, USAA, and Progressive, known for their comprehensive coverage and excellent customer service.
These companies provide tailored policies that cater specifically to the needs of convertible owners, ensuring protection against theft, vandalism, and other risks. See more details in our guide titled “Types of Auto Insurance.”
Our Top 10 Company Picks: Best Auto Insurance for Convertibles
Company Rank Safe Driver Discount A.M. Best Best For Jump to Pros/Cons
#1 20% B Comprehensive Coverage State Farm
#2 10% A++ Military Benefits USAA
#3 31% A+ Unique Discounts Progressive
#4 45% A+ Safe Driving Allstate
#5 30% A Customizable Policies Liberty Mutual
#6 10% A+ Vanishing Deductible Nationwide
#7 20% A Customer Service American Family
#8 23% A++ Policy Flexibility Travelers
#9 10% A+ Senior Benefits The Hartford
#10 20% A Value Protection MetLife
Additionally, they offer competitive advantages like lower deductibles and bonus features that enhance value for drivers. Opting for one of these trusted providers means securing your investment with top-notch insurance support.
To lower your auto insurance premiums, enter your ZIP code into our free quote comparison tool above to compare your rates against the top insurers.
- State Farm leads as the top pick for the best auto insurance for convertibles
- Convertibles require extra protection against risks like theft and vandalism
- Insurance for convertibles includes coverage for unique damages to soft tops
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#1 – State Farm: Top Overall Pick
Pros
- Bundling Policies: State Farm offers significant discounts for bundling multiple insurance policies.
- High Low-Mileage Discount: State Farm provides a substantial discount for low-mileage usage.
- Wide Coverage: State Farm offers various coverage options tailored to different business needs. Discover insights in our guide titled State Farm auto insurance review.
Cons
- Limited Multi-Policy Discount: The multi-policy discount of State Farm is not as high compared to some competitors.
- Premium Costs: Despite discounts, State Farm’s premiums might still be relatively higher for certain coverage levels.
#2 – USAA: Best for Military Benefits
Pros
- Exceptional Rates for Military: USAA offers highly competitive insurance rates for military personnel and their families.
- Superior Customer Service: Known for outstanding customer support tailored to military needs. Unlock details in our guide titled USAA auto insurance review.
- Robust Coverage Options: Extensive coverage options that cater specifically to the needs of military members.
Cons
- Limited Availability: USAA services are only available to military members, veterans, and their families.
- Fewer Physical Locations: Limited number of physical branches, which might affect those preferring in-person services.
#3 – Progressive: Best for Unique Discounts
Pros
- Name Your Price Tool: Progressive offers a unique tool that allows customers to tailor their coverage based on their budget. Delve into our evaluation of Progressive auto insurance review.
- Large Safe Driver Discounts: Offers up to 31% discount for safe drivers, the highest among the listed companies.
- Loyalty Rewards: Progressive rewards long-term customers with loyalty discounts.
Cons
- Customer Service Variability: Some customers may experience variability in service quality.
- Higher Rates for High-Risk Drivers: High-risk drivers might face significantly higher premiums.
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#4 – Allstate: Best for Safe Driving
Pros
- Safe Driving Bonus: Allstate provides a substantial bonus for safe drivers, up to 45%. Access comprehensive insights into our guide titled Allstate auto insurance review.
- Innovative Apps and Tools: Offers tools like Drivewise to help improve driving and safety.
- Multiple Discount Options: Allstate offers a range of discounts including a new car, smart student, and economy car.
Cons
- Premium Cost: Higher base premiums compared to some other competitors.
- Claim Resolution: Some users report slower claim resolution times.
#5 – Liberty Mutual: Best for Customizable Policies
Pros
- Highly Customizable Policies: Liberty Mutual offers extensive customization options for its policies.
- Accident Forgiveness: Includes accident forgiveness policies that prevent your rate from increasing after your first accident. Discover more about offerings in our complete Liberty Mutual auto insurance review.
- Wide Range of Discounts: Offers various discounts such as multi-car, homeowner, and online purchase discounts.
Cons
- Varied Customer Satisfaction: Customer satisfaction can vary significantly based on the region and specific agent.
- Policy Pricing: Some customers might find the policy pricing higher before applying discounts.
#6 – Nationwide: Best for Vanishing Deductible
Pros
- Vanishing Deductible: Nationwide reduces your deductible for each year of safe driving.
- Wide Coverage Options: Provides a broad range of coverage options and add-ons. Read up on the Nationwide auto insurance review for more information.
- SmartRide Program: Offers discounts based on driving behavior monitored through a telematics device.
Cons
- Mixed Customer Service Reviews: Customer service quality can be inconsistent.
- Pricing Flexibility: Less competitive pricing for those with poorer driving records.
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#7 – American Family: Best for Customer Service
Pros
- Dedicated Customer Support: American Family is noted for its responsive and supportive customer service.
- Flexible Payment Options: Offers a variety of payment plans to suit different budget needs. More information is available about this provider in our American Family auto insurance review.
- Discounts for Safe Drivers: Provides significant discounts for drivers with a safe driving record.
Cons
- Coverage Availability: American Family’s coverage options may not be available in all states.
- Premium Fluctuations: Some customers may experience fluctuations in premium rates.
#8 – Travelers: Best for Policy Flexibility
Pros
- Flexible Policy Options: Travelers offers a range of policy options that allow for customization to fit individual needs.
- Discounts for Multiple Policies: Significant discounts are available when you bundle multiple policies. See more details in our guide titled Travelers auto insurance review.
- Intuitive Online Tools: Provides advanced online management tools to help customers handle their policies effectively.
Cons
- Higher Rates for Some Policies: Certain policies may come with higher rates compared to industry averages.
- Complexity in Policy Packages: Some customers may find the variety of options and packages confusing.
#9 – The Hartford: Best for Senior Benefits
Pros
- Tailored Benefits for Seniors: The Hartford offers exclusive benefits and discounts for senior drivers. Learn more in our complete The Hartford auto insurance review.
- Lifetime Renewability: Offers a lifetime renewability option, which is a significant benefit for older adults.
- High Customer Satisfaction: Known for high levels of customer satisfaction, particularly among senior policyholders.
Cons
- Eligibility Restrictions: Benefits and policies are primarily targeted at AARP members, which may limit availability for non-members.
- Premium Costs: Premiums may be higher, reflecting the comprehensive coverage and benefits offered.
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#10 – MetlLife: Best for Value Protection
Pros
- Comprehensive Coverage at Competitive Prices: Metlife offers extensive coverage options at reasonable prices, providing great value. Learn more by reading our guide titled MetLife auto insurance review.
- Employee Discount Programs: Offers discounts through various employee programs.
- Global Coverage: Provides insurance options that include global coverage, which is beneficial for those who travel frequently.
Cons
- Policy Transition Issues: Following its acquisition, some customers have reported issues with policy transitions.
- Customer Service Variability: Service quality may vary, impacting customer satisfaction in some regions.
Convertible Auto Insurance Rates Overview
This section provides a detailed look at the monthly rates for convertible auto insurance, broken down by coverage level and provider. The information helps convertible owners make informed decisions when selecting an insurance policy that best fits their needs.
Convertibles Auto Insurance Monthly Rates by Coverage Level & Provider
Insurance Company Minimum Coverage Full Coverage
Allstate $60 $170
American Family $50 $150
Liberty Mutual $65 $180
Metlife $60 $170
Nationwide $55 $165
Progressive $55 $160
State Farm $50 $150
The Hartford $55 $160
Travelers $60 $175
USAA $40 $130
The table highlights the monthly rates for both minimum and full coverage across various insurance providers. For instance, USAA offers the most affordable full coverage at $130 per month and the lowest minimum coverage rate at $40.
On the higher end, Liberty Mutual charges $180 for full coverage, while its minimum coverage starts at $65. Providers like State Farm and American Family also offer competitive rates, with both companies charging $150 for full coverage and their minimum coverage rates standing at $50.
This range of prices illustrates the diverse options available to convertible owners, accommodating various budgets and coverage requirements. Discover insights in our guide titled “What are the recommended auto insurance coverage levels?”
Soft Top Convertibles vs. Hardtop Convertibles
Soft-top convertibles have a higher risk of theft and vandalism. For instance, someone can easily slice the top of your convertible, an act of vandalism, to either steal the car itself or make away with some of your belongings. On the other hand, hard tops considerably add weight to your convertible. Added weight to your convertible can factor into your auto insurance rates. Learn more in our complete “Best Auto Insurance by Vehicle Type.”
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Why Are Convertibles So Expensive to Insure
The number of factors considered in the calculation of auto insurance rates is quite large. Take a look at a few of these factors:
Weight
Compared to their size, convertibles are significantly heavy vehicles. Their weight and low center of gravity contribute to the high stability of convertible cars.
The chances of a convertible getting to roll while negotiating a corner are very minimal thus making the vehicle safer.
But that’s not the point. Insurers tend to give higher quotes to heavier vehicles. The logic behind this fact is that a heavier vehicle would need more horsepower to give the level of performance we have seen in convertibles.
Theft and Vandalism
Sporty convertibles are ranked among the most stolen vehicles in the US. Soft-top convertibles are mostly targeted by car thieves and people looking for valuable items to steal in cars because they are easier to break into.
Due to their visibility, convertibles are more prone to vandalism hence higher rates. You can install tracking devices and other anti-theft measures in your convertible to bring auto insurance costs down.
High Horsepower
Generally, you should expect higher auto insurance rates if your car is a V6 or V8-powered convertible. The higher the horsepower, the higher the speeds which increase the probability of an accident hence higher auto insurance rates.
When a high-horsepower car gets into an accident, in most cases the damage is so extensive if the car is not totaled, so the insurance company will spend a great deal of money either replacing or repairing your car. This horsepower/insurance cost relationship is not exclusive to convertibles only; it applies to all high-horsepower vehicles.
Expensive to Buy
This is pretty straightforward, the higher the price of a car the more expensive it is going to be to insure it. Convertibles can be extremely expensive to purchase. The high cost of replacement or repair will send auto insurance rates through the roof. Again, this applies to all luxury vehicles.
The significant expense of insuring convertibles arises from their substantial weight, susceptibility to theft, high-performance capabilities, and overall higher purchase costs.
Read more: Why is auto insurance for new cars so expensive?
Other Factors That Might Affect Your Auto Insurance Rates
Several factors can influence your auto insurance rates when insuring a convertible, from the type of coverage to your driving habits and locale. See more details in our guide titled “Factors That Affect Auto Insurance Rates.”
- Type of Coverage: If you are going to buy a convertible, you’d better purchase the right amount of coverage. Make sure you include comprehensive, collision, as well as uninsured/underinsured policies on top of the state-mandated coverage.
- Your Age and Gender: Young, inexperienced drivers will always get higher quotes regardless of the car they drive. Young male drivers are likely to get higher rates than their female counterparts.
- Your Neighborhood: The place you live in and park your car will significantly affect your auto insurance rates. If your neighborhood has higher insecurity issues, then you should expect higher rates.
- Mileage: How much you drive your car can raise or lower your rates. A higher mileage count means higher rates and vice versa. The more time spent behind the wheel, the greater the chances of getting in an accident.
- Deductibles and Limits: The deductible is the amount of money you agree to pay toward the damages resulting from the occurrence of a covered incident before your policy comes through. Your limit is the extent of your coverage.
Purchase the right coverage from a credible insurer and make sure that you carefully read the policy and ask the right questions before you accept the deal. Speak to an agent before you purchase coverage for your convertible.
Choosing State Farm means securing your convertible with the best possible protection available.Kristen Gryglik Licensed Insurance Agent
To find out if you can get cheaper auto insurance rates, enter your ZIP code into our free quote tool below to instantly compare prices from various companies near you.
Frequently Asked Questions
Are convertible cars more expensive to insure?
Yes, convertible cars typically cost more to insure due to their higher value and increased risk factors.
For additional details, explore our comprehensive resource titled “What is the average auto insurance cost per month?“
Are convertibles easy to steal?
Convertibles are often more targeted by thieves due to easier access through soft tops, making them somewhat easier to steal.
Where can I find cheap insurance for convertible cars?
To find cheap insurance for convertible cars, compare quotes and seek out discounts specifically tailored to reduce premiums for convertibles.
Find the best auto insurance company near you by entering your ZIP code into our free quote tool below.
What are the cheapest convertible cars to insure?
Generally, the cheapest convertible cars to insure are those with lower prices, good safety features, and lower horsepower.
How can I get quotes for convertible car insurance?
To get insurance quotes for a convertible car, contact insurance providers directly or use online tools to compare rates specifically for convertibles.
To find out more, explore our guide titled “How to Evaluate Auto Insurance Quotes.”
What does convertible insurance cover?
Convertible insurance provides specialized auto coverage that addresses unique aspects of owning a convertible, such as potential theft and weather-related damage.
What are the rates for convertible insurance?
Rates for convertible insurance vary based on factors like the car’s value, safety features, the driver’s history, and the chosen coverage level.
Are hardtop convertibles cheaper to insure than soft-top models?
Hardtop convertibles often have slightly lower insurance rates than soft-top models due to better security and reduced risk of theft.
To learn more, explore our comprehensive resource on “Does auto insurance cover theft?“
How much does insurance cost for a convertible?
The cost of insurance for a convertible depends on the make and model, your driving history, your location, and the specific policies of the insurance company.
Which convertible cars have low insurance costs?
Convertibles with low insurance costs typically feature strong safety ratings, less horsepower, and are less appealing to thieves.
If you’re looking to lower your auto insurance premiums, enter your ZIP code into our free quote comparison tool below to compare your rates against the top insurers.
What is the downside of convertibles?
Convertibles can pose additional safety risks during a rollover because the cabin may be more exposed due to a potentially less sturdy roof structure. Additionally, the open top can leave occupants more vulnerable to adverse weather conditions or falling debris.
Which insurance cover is best for a car?
Comprehensive insurance offers the most extensive coverage, including protection against theft and hijacking, damages from accidents, fires, or explosions, and natural disasters such as hail and floods.
Learn more by reading our guide titled “Is auto insurance active during a state of emergency?“
Are soft tops more to insure?
Convertible cars are costlier to manufacture, which translates into higher repair and insurance costs. Often, regardless of cautious driving, the tops of convertible cars will require repairs or replacements over time.
Are convertibles high maintenance?
Owning a convertible often incurs greater maintenance and repair expenses due to the complex roof mechanisms and a heightened likelihood of leaks.
What damages a convertible top?
Debris like leaves, branches, and stones can damage your convertible’s roof. Additionally, mold and mildew can accumulate on your soft top. Regularly inspect the roof for any signs of wear that may need expert repair. Damage can encompass more than just rips, stains, or other immediate harm.
Access comprehensive insights into our guide titled “Does auto insurance cover interior damage?“
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Enter your ZIP code below to view companies that have cheap auto insurance rates.
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Chris Abrams
Licensed Insurance Agent
Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chris works tireles...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
