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Performance and sports car insurance

Find out how to source the best car insurance policy for your sports or performance car

The most expensive cars to insure

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If you own a sports or performance car you’ll probably expect to pay more for your insurance but there are ways to get cheaper cover, find out how.

What is sports car insurance?

Drivers of sports or performance cars expect to pay more for car insurance. Shopping around for quotes can help source cheaper cover but most insurers consider such cars more likely to attract frequent insurance claims.

This means:

  • a high-performance vehicle built for speed is far more likely to attract a higher insurance premium

  • all cars are split out into 50 separate car insurance groups — the higher the car’s group number, the more likely it is to be an expensive to insure 

  • the definition of a sports or performance car has changed over the years

What is a sports car?

A sports car is a car which incorporates into its design some of the performance characteristics of a racing car.

Racing cars are designed for speed, so a sports car will have more responsive brakes and steering. These are features which mean the car is statistically more likely to be involved in an accident than a car without them.

  • a coupe, a roadster or a GTS would be considered a sports car – for the purposes of underwriting

  • traditional sports cars are compact and aerodynamic

  • demand for spacious performance vehicles has increased 

  • larger cars including sports saloons and SUVs are also considered sports cars

Sports car insurance – modifications and extras

  • Always read your car insurance policy before you agree to it

  • Always disclose optional extras or other modifications that have been made by you or a previous owner

  • Shop around for car insurance

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Why is sports car insurance more expensive?

The make and model of your car can have a big influence on high performance car insurance premiums.

For example, Porsche has 10 different models in car insurance group 50, while Mercedes-Benz has 22. Different versions of each model tend to sit within the same group.

The cost and nature of repairs is also taken into account when insurance groups are calculated. 

  • car insurance groups are compiled according to risk 

  • that risk is based on that car model’s claim history

  • sports cars are fitted with engines that provide rapid acceleration and high speeds.

  • sports cars also cost more to repair

  • they are more likely to be stolen

What are the cheapest sports cars to insure?

According to Admiral Insurance these are the 10 sports cars with the cheapest average premium between July and December 2019*

*The models listed combine cars of all ages and values, including both hard-top and roadster equivalents sharing the same name. 

  • Porsche Boxster - £465.17

  • Mazda MX-5 - £513.03

  • BMW Z4 - £566.35

  • Porsche 911 - £631.77

  • Porsche Cayman - £637.14

  • Toyota MR2 - £644.35

  • Porsche Macan - £698.45

  • Toyota Celica - £711.84

  • Ford Mustang - £718.40

  • Nissan GT-R - £834.03

How to reduce the cost of sports car insurance

As with all car insurance policies there are things you can do to reduce the cost of your car insurance premiums.

Drive carefully

Points on your licence for speeding can increase your premiums, so drive within the law and carefully driving can also help build up your no claims bonus.

Drive fewer miles

If you use your sports car at the weekend or on holidays,  your cheaper premiums will reflect this reduced mileage.

Avoid modifying your car

This will also increase premiums, although factory-fitted optional extras are fine. Before buying your car you should also check to see if the car’s engine or other parts have been modified in any way as modifications can make performance car insurance more expensive.

Increase security

Some insurers refuse to insure high performance cars unless they have the necessary security features such as an alarm and or a tracker. Also keeping your car in a locked garage or secure driveway rather than on the road will reduce your premium.

Add an experienced driver to your policy

Lastly, adding another driver to your policy can also help to bring down the price of your performance car insurance, especially if they’re experienced and have a clean, safe driving record.

Join a club

Joining an owner’s club could save your up to 15% on specialist car insurance.

Advanced driving 

You may even qualify for a discount if you have previous experience of driving performance models. Consider taking an advanced driving qualification.

Not owning a car

You don’t need to own a car to get car insurance. Unlike a full car insurance policy, you won’t build up a no claims bonus, but it does mean you can drive someone else’s car, as long as you have their permission. 

If you are only planning on borrowing a sports car you can also compare quotes for short-term or temporary car insurance

Consider multi car insurance

If your family own several cars it may be better to insure them via a multi-car insurance policy

Multi insurance might also be suitable:

  • if you own more than one car

  • if you’re a family with more than one driver

  • if you’re a couple with more than one vehicle 

Get a car insurance quote

See a range of car insurance quotes in just a few minutes when you compare with Uswitch