Performance Car Insurance

Insurance tips for owners of high performance cars

If you are planning to buy a high performance car you'll be aware that insuring your dream car could be expensive. Here we look at steps you could take which may help to reduce the cost of insuring the sports car or hot hatch you've always wanted.
The specification of your performance car

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

If you are buying a high performance car 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 of a car you may find one which is in a lower group, this 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 into the car you're interested in. 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.
Performance car mileage

If you can resist the temptation to drive your performance car all the time you may be able to find a lower insurance premium by reducing the number of miles you put on the clock each year. The fewer miles you do the lower the risk may be for your insurer.
Car security

High performance cars and their components tend to attract thieves, so you'll need to take security seriously. If you're looking to save money when you insure your dream car make sure you keep it in a locked garage at night.

Improving the security of your motor vehicle can also help towards reducing the cost of high performance car insurance. Your insurance company will be able to advise you on which approved devices to fit. Tracking devices and immobilisers are likely to attract the best discounts. A tracking device could be a sound investment if you consider your high performance car to be irreplaceable.
Driving safely

While performance cars are built for speed it's important to remember to drive carefully and stay within the speed limit. If you are caught speeding, a motoring conviction is likely to make insuring your high performance car much more expensive.