If you’ve got a performance car or if you’re thinking of buying one then the cost of insuring it can be a worry. Performance cars are more expensive to insure – they are more likely to be involved in an accident and they are desirable to thieves too.
Here we answer some of the most frequently asked questions about performance car insurance.
How do I know if my car needs performance car insurance?
Performance car insurance is suitable for cars that are built for high speed or have been heavily modified. A car that has a larger or more powerful engine than an ordinary car will need performance car insurance. This is because it will be able to accelerate quicker and go faster than a normal car. You can check which car insurance group your car is in by checking the database on parkers.co.uk. See ten of the most expensive cars to insure.
High performance cars come with high price insurance.
What affects performance car insurance premiums?
The exact type of car you own will affect your premium. Sports cars like a Porsche or Mercedes might cost more to insure than a car with a modified engine. Insurance firms will also look at the age of the driver – and charge young drivers more. To get a cheaper insurance quote for a high performance car you also need to think about security – fitting a tracking device or immobiliser will attract a discount on your policy as will keeping the car in a safe place off-road. Some insurers will not insure high performance cars unless the necessary security for the car is in place.
How can I get cheap high performance car insurance?
How much you pay for performance car insurance can vary so it’s important to shop around to find the cheapest deal possible. In some cases specialist insurers will give you a better deal. To get the best quotes drive safely as past claims will mean more expensive insurance. Also try and limit how many miles you drive in the high performance car as the fewer miles you do the lower the risk for the insurer. Not having additional drivers on your policy could also save you hundreds of pounds.
Whatever your car, you should always shop around to find the best car insurance quotes and, with only one form to fill in, uSwitch makes it easy.
*60% of car insurance customers could save up to £200 (Consumer Intelligence data, December 2011)
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