My High Performance Car Deserves A Special Insurance Policy You Bet

One of the first things we must think about when purchasing a car is insurance. Driving without insurance is illegal and if caught you could be faced with a fine and a ban. As people get older and wealthier, they tend to choose higher specs cars to reflect their status and stand out from the crowd. For these super fast or heavily modified cars, performance car insurance comes at a price.

Why are high performance cars not really cheap to insure?

High performance cars are more prone to be involved in an accident because they are fast cars and the tendency to drive at higher speed is far greater than standard cars. Therefore it makes spotting hazards more difficult and bringing the car to a stop takes more time which as a result can cause accidents even for most basic driving mistakes which occur on the roads (for example other drivers emerging from a side road without looking). Repairs for performance cars are generally more expensive than standard cars because of the higher spec and more up-to-date technology.

Younger drivers who have the luxury of a high performance car tend to be more reckless and ignore speed limits due to having more powerful engines. This makes them a very high risk group to insure because on top of speeding, they also have less driving experience and no history of good driving. Hence premiums for these young people are incredibly expensive.

Ways to save when insuring these performance or modified cars?

• If you are the only named driver, you will pay less than having an additional driver added to the policy.
• If you are young, you are most likely to pay a hefty premium. So hold out for that high performance car for as long as possible to reduce insurance costs.
• By not having any claims, you will benefit greatly on your car insurance quote.
• If you already have a car, use this one more than the high performance car as the miles driven in the performance car will mean a higher insurance quote.
• Make sure you have the highest level of security as this will also reduce your premiums by decreasing the risk of theft.
• Opt to have a higher voluntary excess on your policy.

You will find that companies which specialise in performance car insurance will give you the best deals. This is because they cater to this one specific group and understand your needs better than mainline insurers who provides insurance cover for standard cars.