Finding Car Insurance for Performance Cars
Car insurance is one of the most important aspects of car ownership; it helps to cover you in the event of an accident or incident for which you are not at fault.
There are a range of policies available to suit any driver and vehicle type – from classic cars to modified cars to 4x4s – and each will have its own set of specifications that are considered during the application process.
Comparison services such as Moneysupermarket can help you in the process by doing the searching for you, allowing you to take your pick of the best deals on the market.
Performance cars are usually more expensive to insure due to factors including the price of the vehicle and your location. It can be worth taking the time to shop around to help you find the best car insurance deal to suit yourself and your vehicle.
If you are considering purchasing a high-performance car, it can be worth bearing the following factors in mind:
- Location – if you live in an area that has a high crime rate, your newer or modified car will be at an increased risk of theft. Steve Sweeney, head of motor insurance at moneysupermarket.com said:
”For those living in areas with a higher risk of theft of, or from their vehicle it is even more important to shop around and look for the best deals available for your car insurance, as premiums in such areas are likely to be much higher.” - Modifications – heavily modified cars are usually more expensive to insure due to the cost of repairing and replacing parts in the event of an accident as well as the increased risk of being involved in an accident as a result of making such changes to your vehicle.
- Storage – think about where you are going to keep the vehicle when you’re not using it. Storing your vehicle in a secure garage instead of parking on the street could help you to lower your premiums.
- Age of driver – believe it or not, your age can make a big difference when it comes to high performance cars. By building up a no-claims bonus over many years through careful driving, younger drivers can help themselves to reduce their car insurance premiums in the future.
One of the ways you can help to lower your premiums if you’re considering a high-performance car is to take part in an advanced driving course.
These courses can help increase your awareness of a more powerful vehicle, thus helping to prepare you for what you will be driving at a later date, and insurers will take this into consideration when arranging a quote, which could help lower the cost of your car insurance.
There are a range of specialist insurers out there who cater specifically for high performance and modified cars, so it can be worth contacting these in order to see how much it could cost to insure your vehicle before you purchase it.