Insurance for performance cars

Specialist insurance for your performance car

Specialist insurance for your performance car

Protect your luxury vehicle

Protect your luxury vehicle

Recommended by 94% of users**

Recommended by 94% of users**

Compare quotes for your performance car

It might be more expensive to insure performance cars than standard ones, but you can find affordable cover by comparing quotes.

The temptation to buy a high powered, flashy performance car that looks and feels great can be strong.

But those who’ve given into the temptation will know that it comes at a cost.

Firstly the cars themselves cost a lot to buy, but the costs don’t stop the minute you drive out of the showroom. High performance cars tend to consume a lot of fuel, and are pricey to insure.

We’ll explain why insuring performance cars tends to cost a lot, and how, by following a few simple steps, you can keep costs down wherever possible.

In This Guide:

What kind of cars count as performance cars?

It is not just flashy sports cars or high performance vehicles that count as performance cars, you’ll also find many imports and kit cars (for example) in the same category.

Many imports from outside the EU, particularly from Japan, are built to such high specifications that they will be considered by insurance to be a performance vehicle.

The same goes for some kit cars and for any car that has been modified in such a way that the power of the engine has been significantly increased.

Depending on the level of power and performance, and this is particularly the case with kit cars and non-EU imports, you may need to take out a specialist policy, or even have your vehicle undergo an Individual Vehicle Assessment (IVA).

Why does insuring a performance car cost as much as it does?

The price of an insurance policy will depend on the likelihood of the insurance company having to pay out for a claim.

High performance cars, given their power, speed and acceleration, are statistically far more likely to be involved in an accident than a more basic, practical family car. Because of this, they tend to cost rather a lot to insure.

Insurers have an easy guideline to follow when it comes to working out the cost of insuring each car in the form of the 50 insurance groups set out by the official Group Rating Panel. Performance cars, due to factors like the size of their engine, will tend to be in one of the higher groups, translating into more expensive premiums.

An old Peugeot hatchback in comparison would fall in a much lower group, costing a lot less to insure.

It’s not just the high powered engine that will turbo charge your premiums though. A flashy new sports car will be far more attractive to thieves and vandals than an old hatchback would. This increased risk of theft and criminal damage will be reflected in the price of the insurance policy.

Additionally, the cost of repairs and replacement parts for performance vehicles is often much higher than it would be for a more conventional car, given the difficulty or sourcing the parts and the expertise needed to install them.

Young drivers and performance cars

Performance cars can be particularly attractive to younger drivers who want the adrenaline rush that comes with driving a high powered sports car on the road.

But being under 25 and driving a high performance car can be a toxic combination when it comes to insurance prices. Insurers are wary enough of young drivers as it is, no matter what car they are driving.

But again, if you fall into this category, while you’ll be paying higher more than the average drive would for your insurance, you needn’t pay completely over the odds.

Below are a few steps you can take to ensure that your premiums are as low as they can be.

How to get cheap insurance for performance cars?

First and foremost, security is crucial when it comes to reducing the ost of your insurance policy.

Keeping your performance car in an off road garage, rather than parking it by the kerb, will dramatically reduce the risk of theft. This reduced risk will, of course, be reflected in the cost of the premiums you are offered. The same goes for any security enhancing modifications you might make, such as installing immobilisers.

By taking a Pass Plus course in responsible driving practise, you will not only find that you drive better generally, but also your insurance policy could benefit from a discount of up to 35%.

Reducing your mileage is another great way to reduce costs, as the less you drive, the less likely you are to be involved in an accident. If you have set a mileage limit on your policy though, you should make sure that you stick to it, or at least inform your insurance provider if you think you’ll exceed it, as otherwise you could find that your policy is invalidated and you won’t be paid out in the event of a claim.

If you follow the above advice, you should be able to get relatively cheap car insurance for your high-performance vehicle.

Last reviewed: 1 May 2024

Next review: 1 June 2024