Your performance car might be a dream to drive; fast, handles well, looks incredible, but you’re probably wincing at how much it costs to insure. Whether you’ve modified or you have your car in the standard model, if it has high specifications and value, then it’ll be hard to find cheap car insurance, even more so than for drivers of standard cars.
So Why Is This?
Car insurance premiums are based on a whole range of different things. The first and main reason why performance cars are more expensive is that cars are split into different groups according to their make and model. The higher the group, the more expensive the insurance will be. Repairs can also increase the cost of your insurance premiums too. Certain types of parts can be expensive and particular problems might be difficult to fix, so it will cost more to cover if it should become damaged. Modifications, and this even means things like alloy wheels, are a major factor in increasing premiums too. They can be expensive and complicated to fix but common on high performance cars, which is why insurers prefer you not to have them at all.
How to Reduce Your Performance Car Insurance
These things outlined above aren’t things that you can change about your car, so how do you make sure that you get the best cover for the best price? Firstly, you make sure that your car is really secure. Adding an alarm or an immobiliser to your vehicle will help reduce your premiums, as will keeping your car off the street at night. Adding a named driver to your policy could also help to reduce your premiums, particularly if they are older, more experienced or have a clean driving record.
Play around with your quote. Have a look at different levels of cover, different amount of excess and you should be able to find a lower quote. However, make sure that the level of cover is suitable for your needs and that you can afford the excess right off the bat. Otherwise you might end up out of pocket and without a working car.
Check out the discounts that are afforded to you by certain insurance providers. Sky Insurance, for instance, offer a range of discounts that you might be eligible for, such as limited mileage discounts. The less you drive your car, the lower your insurance will be. This works on the principle that the less you use your car the less likely you are to have an accident. There are a variety of others discounts that may help you to get more for your money.
Take a look at Sky Insurance at www.skyinsurance.co.uk where they offer a whole range of different types of insurance cover ranging from business to modified cars. They pride themselves on being able to offer a competitive price on modified cars and being the ‘performance car insurance experts’.