Performance car insurance

Insurance tips for owners of high performance cars

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Whether you own or are you planning to buy a high performance car, you'll be aware that insuring your dream car can be expensive.

Here we look at ways which may help you to reduce the cost of your
car insurance premium.

By these few steps you could be closer to driving the roadster, sports car or hot hatch you've always wanted.

Specification of your performance car

Acceleration and top speed are both considered when the Motor Insurance Repair Research Centre (Thatcham) carries out tests for the recommendation of car insurance groups. Claims statistics show that high performance cars often result in more frequent insurance claims. So a vehicle that's built for speed is likely to be in a high car insurance group.

You can search the Association of British Insurer's database to find the recommended group rating for the car you're interested in. By comparing similar models you may find a car in a lower group, which could attract a lower premium when you get quotes from insurers.

The cost of repairing a car is also taken into account when insurance groups are recommended, so it's worth doing some research before buying. If parts are hard to come by or repairs are likely to be complicated and time-consuming, it may be worth considering a different car.

Car mileage

The fewer miles you do the lower the risk may be for your insurer. If you can resist the temptation to drive your performance car all the time and reduce the annual mileage then you may be able to find a lower insurance premium.

Car security

Improving the security of your motor vehicle can also help towards reducing the cost of insurance. High performance cars and their components tend to attract thieves, so make sure you keep your dream car in a locked garage at night.

Your insurance company can also advise you on which approved anti-theft devices to fit – tracking devices and immobilisers are likely to attract discounts. A tracking device could be a sound investment if you consider your high performance car to be irreplaceable.

Driving safely

While high performance cars are built for speed it's important to remember to drive carefully and stay within the speed limit. A motoring conviction is likely to make your insurance more expensive.


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