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Possibly the most expensive type of car to insure is one that falls into the category of “exotic car.” Insurance for these cars can be as expensive as the cars themselves, and is often very difficult to get.

For a car to be considered “exotic” it usually has to be a sports car, and has to have an extra-ordinarily high market value. This can be due to mechanical capabilities such as high speed and rate of acceleration, or to relative rarity, which most drivers feel brings them a certain type of flair. Most car insurance companies feel that the higher the value of the car, the higher the risk they take, and consequently, the higher they have to make their premiums. So you can imagine how extremely high insurance costs for exotic cars can be. Yet, like any other vehicle you own, insurance is mandatory. So how are you supposed to find good coverage, or even any coverage, when there are so few companies willing to take on the risk of insuring such a valuable possession?

Finding a willing insurance company is just the first hurdle; even harder is getting a good deal on an insurance policy. The companies that are willing to ensure exotic cars are counting on you feeling like your options are limited, and can use that to their advantage; playing hard ball with you to ensure higher premiums than necessary. You should always obtain all of the information that you can before looking for exotic car insurance, such as what rates any competitor may charge, and what going insurance for vehicles similar to yours is.

One important question to ask a potential insurance company is why the insurance will be so expensive. Exotic cars are very valuable and, therefore, can represent a greater risk financial loss to the company should something happen, and they are forced to pay out on the resulting claim. Exotic cars are generally very capable vehicles, in terms of speed. As such, they carry a statistically proven higher risk of accident. This is often due to misuse of the vehicle by over-zealous drivers, so having a clean or minimal accident record will give a potential insurance company greater confidence in your ability to handle a sports car safely and responsibly.

Let’s face it, college is great for learning but college without a car is a lot less fun. What better dream does a senior in high-school have than to own a car? But with that car comes the hassle of insurance rates that are higher for the younger demographic of society because individuals under the age of 25 are statistically proven to be high-risk takers. Is there something that you as a college student can do to keep car insurance rates affordable? Here’s a list of five car insurance do’s and don’ts for all the college drivers out there.

Do’s:

1. Get good grades: Car Insurance companies think that students in general are prone to drive rashly because they are yet learning to drive. In fact, 61% of young drivers admit to having risky driving habits like not wearing a seat-belt. When it comes to making decisions while driving, they seem to be more prone to be distracted and impulsive. However, if a particular student can show that he is responsible, then the insurance company can offer a discount in his car insurance. One of the best ways to prove that you are a careful driver is by maintaining good grades. Some insurance companies offer the “Good Student Discount” for students that have a GPA above a 3.0.

2. Carpooling: A general tip for anyone who is looking to buy car insurance is that you will get a lower premium if you drive less. How much less do you have to drive for it to affect your premium? Most insurance companies reduce premiums if you drive less than 10,000 miles a year. Driving less means less time on the road and therefore a lower probability of getting into an accident. One of the best ways to not just lower the miles you drive but also make friends is by carpooling.

3. Install airbags and anti-theft devices: Any kind of security measure you install in your car will reduce the probability of it being stolen or severely damaged in an accident. Air bags and car alarms are some of the most practical ways you can make driving safer for yourself and save precious dollars off your monthly premium.