Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insurance...

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UPDATED: Jul 14, 2021

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Important facts to know...

  • Actors are some of the professionals who enjoy favorable insurance rates for their policies
  • There are insurance providers who specialize solely on the expensive and exotic cars, and an actor would consider looking for a favorable one which would provide full coverage
  • Actors who have had a bad driving record should consider perfecting their driving skills to join the low-risk driver status

Actors, performers, and celebrities usually enjoy very low insurance rates compared to all other professionals. They have an average premium rate of $971.10 per year for their car insurance policies.

Therefore, it would be ideal for an actor to settle for a traditional insurance company that uses an occupational title as a way of determining insurance coverage for their clients.

However, a highly ranked and famous actor may have an alternative insurance policy depending on the car they drive and the life that they lead. Therefore, their insurance coverage varies from one actor to another.

Find the best rate for your situation by comparing rates today. Just enter your zip code in our free tool above.

Why Some Actors Have Low Risks

An actor going for a traditional insurance company means he does not have a bad driving record and owns an average car. An actor who is still climbing the career ladder has slight chances of causing accidents due to the following reasons:

  • Their jobs are not very stressful meaning that they are alert and have full concentration while driving.
  • They spend their lives reading and gaining more skills to master the art of acting. Therefore, there is a reduction in their chances of driving around.
  • The actors live near an urban area allowing easier accessibility to the studios and theaters. Therefore, they will probably use a public vehicle in moving from one place to another.
  • If the actor is driving their personal car, they will register a very low mileage and a proper maintenance meaning that they will eventually get reduced premiums on their cars. Sometimes the premiums go for as little as five-ten percent.

Actors driving the least expensive cars or old cars may qualify for different coverage options. However, some options are paramount on an old vehicle, for example, collision and comprehensive coverage.

You may consider talking to your insurance provider on which one to drop between the two. You should also have a good credit score to qualify for the insurance policy. The premium rates for the actors vary from one car to another depending on their value and model.

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Expensive Cars to Insure

The famous and wealthy actors tend to buy the very rare and expensive cars in the market. Some actors may even have their cars custom made to suit the design and the feature that they want.

They may get an insurance cover online, over the phone, or through an insurance agent. When the modifications of the car are so complicated for the insurer to understand, the actor may make a visit to the company and discuss the favorable terms and premiums.

The same situation happens when the actor has a very expensive car. When an actor has a car that is of high value, they may prefer to get insurance from a high-end provider who specializes in insuring such kind of cars.

They choose a specialty provided because the traditional insurance companies may not have the coverage for the exotic, rare, and very expensive cars. An independent agent would come in handy in trying to get the favorable policies that may fit the actors’ preference.

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Risks involved in an Expensive Vehicle

The insurance company may increase the premiums when the actor has a very expensive car due to the risks involved. They may include:

  • They have a paced lifestyle meaning that they have a likelihood of speeding thus increasing their chances of having an accident.
  • They are likely to carry the famous and the affluent in their vehicles, and their insurance cover may be so high in case of an accident.
  • The cars have pricey modifications that would be costly to repair once damaged. Therefore, the insurance company may charge high rates depending on the car value.
  • The actors may want to choose the person responsible for the car repair in case of damage.
  • Some actors get wealthy at a tender age meaning that they do not have a good experience in driving. That contributes to very high premiums.

High-risk Insurance Coverage

Most actors hold a bad driving record meaning that it would be difficult for them to get a good insurance coverage especially when they still own an expensive vehicle.

It is a legal requirement for everyone to get coverage despite their driving records. This means that the actors have to look for an alternative coverage, which is the high-risk insurance coverage.

It is necessary to shop around to get one with favorable terms and fair rates. Some states may reduce points depending on your driving record. Therefore, it is important to maintain good driving habits and follow the traffic laws to get the low-risk driver status.

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Self-Insurance

It is surprising that most of the actors with a large fleet of cars keep all of them in an excellent condition. Their expensive cars may require a lot of income to insure and they may opt to self-insure.

Self-insurance happens when the actors have enough money set aside to cover the costs in case of an accident. For you to get into the self-insurance plan, you require providing a proof of financial responsibility to the state auto insurance.

In some states, an actor should have more than one car in addition to the financial responsibility to qualify for the self-insurance.

Therefore, it is important to check different insurance companies online to evaluate the ones with favorable rates.

Remember that the insurance companies do not have restrictions on the cars they insure, but some may not be able to provide coverage for the very expensive cars.

Compare quotes for the insurance coverage you need. Enter your zip code below to get started today.