Sports car insurance
If you’ve always wanted to own a sports car and have finally found yourself in a comfortable enough financial situation to be able to treat yourself with one, then you shouldn’t be put off by the prospect of high insurance costs. Insurance providers set the costs of the cover they offer by the likelihood of a car or driver being involved in a crash and as sports cars are typically capable of much higher speeds than regular vehicles, this risk is often significantly greater. However, there are some measures you can take to ensure that while you may have to pay slightly more than your regular car insurance, the quotes you receive needn’t be extortionate. Here are some things you can do to keep your costs down.
Which sports car you buy
While you may have had your heart set on a particular car your whole life, it can still be worth checking which car insurance band your car falls into. The cost of sports car insurance in the UK is determined by the same factors as standard insurance: the insurance group. You might be surprised to find that very similar cars fall into different groups and that one could save you money.
If the car you’re after comes in more than one model, perhaps with different sized engines, selecting the model with the smaller engine size can benefit your wallet when it comes to the insurance policy.
How you use the car
If you want to put your new car to the test on the racetrack then you’ll need to let your insurance company know. Not every provider will allow you to do this, so make sure you check with them.
If you can agree on a mileage limit per year, some insurance providers will look kindly on this and offer an additional discount. Similarly, if you’re a car enthusiast, many sports car clubs will promise cheap premiums if you join their club.
Many sports car drivers like to modify or update their pride and joy; however, this can often cause your insurance costs to rise and not informing your insurer of any modifications is illegal. If you can bear to leave your car untouched then you can reap the rewards in savings.
How to save money
Who you insure on the policy can affect the cost – if you have any younger drivers at home, particularly any under the age of 25, it can be extremely costly to secure sports car insurance. Similarly, if you do choose to add someone as a named driver on your policy and they are later involved in a collision or accident, this can negate any no claims discount you may be entitled to and result in next year’s quotes rising.
In order to find the best policy for you and your dream car, research is always the key. If you’ve waited all your life to own a particular car, a few hours more trying to save money will be worth it. By going online and using a car insurance comparison site, you can quickly filter out any providers that do not offer sports car insurance and simply compare the ones that do.
Once you’ve done that, using review sites you can discover which ones are the most considerate to avid driving fans.