Performance car insurance

Performance cars may have more style, speed and slick handling, but they also come with more risks. Find out how to make sure you get the right insurance.

Amy Smith
Amy Smith
Updated 21 February 2022  | 3 min read read

What’s a performance car?

Performance cars are specifically created to deliver the best in speed, design, comfort and agility.

With powerful engines, these cars are built for driving in style, with the handling, acceleration and braking performance needed to support high-speed driving.

But drivers enjoying the adrenaline rush of a performance car will also need to pay more for insurance, along with the car’s high price tag.

Key points

  • Performance cars come with more speed but also an increased risk of theft and accidents
  • Specialist insurers can tailor cover to the specific costs and risks that come with performance cars
  • You can help to keep premiums down by doing things like reducing your mileage and increasing your security
  • It may be easier and cheaper for young drivers of performance cars to take out specialist rather than regular insurance

Do I need specialist car insurance for a performance car?

Because performance cars are designed for speed – and for turning heads - insurers consider them to be more of a risk to insure.

In other words, they’re more likely to be a prime target for thieves and to have a bigger impact when they crash.

Their complex design also means they often need specialist garages to carry out the work and their parts are more expensive to replace.

For reasons including these, standard car insurance won’t usually cover performance cars.

So for example, if your car’s a Ferrari, Tesla or Aston Martin, you might need to use a specialist insurer to cover the risks that come with owning and driving a high-power car.

What does performance car insurance cover?

The insurance you can buy for performance cars will provide you with a specific set of benefits.

These may include:

  • Fully comprehensive cover for all named drivers
  • Cover for fire and theft
  • Cover for damage to your car and other vehicles
  • Your choice of repair centre
  • Discounts for limited mileage
  • A comparable courtesy car
  • Left-hand drive insurance
  • Cover for driving in Europe
  • Expensive car parts cover - this could be new for old cover depending on the policy
  • Windscreen repair
  • Cover for theft or damage to your car’s audio and visual equipment
  • Salvage retention - so you can still keep your car after it’s been written off
  • Cover for driving other cars

Is performance car insurance more expensive?

If your car has a big engine, it’ll probably fall into a high insurance group which will make your premiums more expensive.

But the cost of your car insurance will also depend on the type of car you have and any modifications you’ve made, as well as factors like your age and where you live.

Insurers will also take into account what you use your performance car for and whether you have any points on your driving licence.

Generally, performance car insurance is more expensive because:

  • Your car’s worth much more than the average car
  • Insurers view a high-powered engine as high risk
  • Accidents at high speeds carry a greater risk of damage, injury and death
  • Performance cars are expensive to repair and their replacement parts are costly
  • High-performance vehicles are more appealing to thieves and vandals

All of these elements combined mean insurance for performance cars will cost you more.

What’s agreed value cover?

This is when you agree your car’s value with the insurer - guaranteeing this as a payout if your car gets written off or stolen.

Agreed value policies are typically used if your car’s more unusual or worth more than the average model.

For example, you might want to use agreed value cover if your car’s been customised or has a higher-than-normal value because of its age or rarity.

This cover will pay out a higher amount than the car’s average market value, but this also means it’ll push up the cost of your policy.

How can I find performance car insurance?

Car insurance providers put cars into insurance groups ranging from one to 50, starting from the cheapest car to cover up to the most expensive.

And even if your car falls into a higher group, most mainstream insurers will be able to provide cover.

But for cars that are unusually costly to repair or replace, you may need to use specialist insurers who’ll offer cover that can be specifically tailored to your performance car.

Plus, you might be offered a discount if your car has a low mileage or if you’re a member of an official car club.

We have specialist providers on our panel as well as mainstream insurers, so you can easily compare quotes from across the market in one go.

How can I reduce the cost of performance car insurance?

No matter what insurance group your car falls into, there are ways to reduce your insurance costs when you have a performance car. Our tips include:

  1. Keep your mileage low

    If you can reduce your annual mileage and stick to shorter journeys you could reduce your premium

  2. Be wise with the specification

    Assess what you really need when it comes to speed and engine size. A similar model in a lower insurance group could save you money

  3. Do more to deter thieves

    Increasing your car’s security by storing it safely in a garage, or using approved anti-theft devices like trackers, can get you a premium discount

  4. Add an older named driver

    If you’re a young driver, adding someone to your policy with more driving experience can help to lower the cost of your premium. Always be honest about who is the primary driver of the vehicle

  5. Increase your voluntary excess

    The more voluntary excess you agree to pay if you make a claim, the lower your premiums will tend to be. Make sure you could comfortably make this payment in the event of a claim

  6. Don’t be tempted to tinker

    Cars that have been adapted or modified so they become non-standard, like adding bigger exhausts or spoilers, can make insurance costs higher

Can young drivers get insured for performance cars?

Whatever car you drive, if you’re a young driver your lack of road experience means you’ll need to pay more for insurance.

This is particularly true for performance cars, where the costs will be even higher.

To reduce your premium, you can try adding an older named driver to the policy which can sometimes bring the cost down.

Another option is to take an advanced driving course, this way insurers are likely to view you as less risky.

There are specialist providers that offer high-performance car insurance for young drivers - these policies might be cheaper than regular insurers, so it’s worth shopping around.

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