Performance cars are exciting to drive, but they usually cost more to insure than regular cars. Here's what you need to know about getting cover for a high-performance vehicle.
Insurance companies charge more for performance cars because:
They're more powerful and can reach higher speeds
Repairs cost more due to specialist parts
They're more desirable, and could be stolen
Accident damage is often more severe
Replacement costs are higher
Insurance companies look at several things:
Engine size (usually over 2.0 litres)
Top speed and acceleration
Car modifications
Make and model (sports cars and supercars)
Even smaller hot hatch models like the VW Golf GTI count as performance cars.
There are ways to lower your premiums:
Park securely
Fit an approved alarm and tracker
Add a named driver with a good record
Increase your voluntary excess
Build up your no-claims bonus
Limit your annual mileage
Avoid modifications or declare them all
Performance car insurance varies a lot between providers. Some insurers specialise in sports and modified cars, while others won't cover them at all.
You should always compare performance car insurance quotes from providers who understand high-performance vehicles. This saves you time and helps you find competitive rates.
You must have at least third-party insurance by law. However, given the value of performance cars, most owners choose comprehensive cover.
Comprehensive insurance covers:
Damage to your car
Damage to other vehicles
Injury to other people
Theft and vandalism
If you're under 25, expect very high premiums for performance cars. Insurance companies see young drivers in powerful cars as high risk.
Ready to get covered? Make sure you compare quotes to find insurance for your performance car today.
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