Why over the course of time do insurance rates not accurately echo the depreciating convenience of your motor?
You can save money by increasing your deductable (making it smaller amount likely that you will directory a claim), or dropping collision and comprehensive altogether, if you are willing to assume the risk.
I hold 2 vehicles and am a worthy driver (autocross competition experience) and could get by if one be totalled, so I dropped collision/comprehensive on my older saloon and kept it on my newer Pathfinder that I need for winter (no loans).
Because the labor costs to fix the damages don't depreciate.
Also, most people don't KEEP a sports car long enough for it to depreciate low adequate to notice a difference.
HOWEVER, if you insure a brand clean 2008 Ford Focus, and you insure a 1998 Ford Escort (the equivelent back then), you'll distinguish a SIGNIFICANT difference in the collision and comprehensive rates. That IS the weighing up of depreciating difference.
But if you're comparing a 2008 model and a 2007 model, you won't see much difference. You need to look at a motor at LEAST 5 years old to see the difference contained by rates.
See, this year labor might be $40 an hour. Three years from now, although your sports car is worth less to fix, that dent is probably going to cost MORE to repair, not smaller number.
The best way to cut costs on your sports car insurance, is to SELF INSURE. Yep, pay that sports car off, delete the collision and comp, and consequently whatever happen to your car, YOU compensate for it.
Unless, of course, you can't afford to wages for it. Then you're stuck with a motor that's not drivable.
Answers: Because insurance premiums are not linked to the actual good point of your car - Insurance premiums are related to the INSURED value of your vehicle. If you want the premiums to go down, after you must decrease the amount of insurance you are carrying on your vehicle.
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The first answer is tremendously good. But I will make the addition of that the biggest part of the cost is liability - not desecrate to the vehicle. So you will only consideration significant differences in price between a 1998 and a 2008 (like the example already given) The on the way out value of your saloon is just a fraction of the cost of insurance.The weaken you can do or the injuries you can cause do not diminish if your sports car is showroom new, or 15 years elderly.