About Sports Car Insurance

There has always been an element of glamour to owning a prestigious sports car. For many, it is the ultimate symbol of success and affords the distinct impression that the owner is as fast, sleek and elegant as the vehicle he chooses to drive. To own a high performance car is to tell the rest of the world that you have well and truly arrived!

Unfortunately success, glamour and prestige come at a price and it’s not just the cost of the car that’s going to leave a huge dent in your bank balance. The rising cost of sports car insurance continues to be a deterrent for many of those who are thinking about picking up that elusive Porsche, Lamborghini or Ferrari.

Yet sports car insurance doesn’t have to be as expensive as some might imagine. Insuring a sporty car has always been something of an expert market and speaking to a specialist company instead of a general insurer can often produce pleasant surprises. If you are considering making a move for a classic model of sports vehicle such as an MG or Morgan, there are specialist insurance companies for those as well.

Another method of bringing down the cost sports car insurance is to join an owners club. Insurance companies tend to view members as safer drivers and the cost of insurance premiums can decrease accordingly. Limiting the amount of annual mileage you intend to use the vehicle for will also help save on cost. Another way that you can significantly lower the price of insurance for sports cars is to limit the age of named drivers on the policy to 25 or over.

You may also consider upgrading your vehicle security system, and the fitting of an approved tracking device may also lower the cost of your premium. These are both effective ways of establishing a little more control over sports car insurance.

There is a certain degree of debate as to whether the depreciation in value of a sports car can actually lower the cost of insurance. Unfortunately, premiums do not reflect this since the cost of spare parts and repairs remain at the same level and insurance companies reach the price of a premium based on the potential cost of any future repair work.

High performance vehicles are always going to cost significantly more to repair than other vehicles and the price of sports car insurance is always balanced to reflect this.