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What is Performance Car Insurance?

Performance cars are beautiful, classy and wonderful to drive at high speeds. But did you know these cars carry a higher insurance premium than regular autos? You’ll need the right kind of insurance to protect your investment, so we’ve put together this guide to help you find the right insurance for your sweet wheels.

Performance, or also called supercars or race cars are made for speed, which makes them a higher risk for insurers. Along with the ability to go faster than standard cars, performance car parts and repairs are also more expensive.

For insurance purposes, insurance providers generally class high-performance cars as a two-door vehicle, which is light-weight and has a powerful, large engine. However, you should know that cars made from kits, imported motors and even regular cars modified for high performance (usually with a larger engine, etc.) fall into the high-performance category for insurance companies.

In addition, insurance for these cars may not cover you for driving other vehicles, and personal belongings may not be covered, etc. This will vary from provider to provider, so it pays to read all policy documents thoroughly to understand what it does and does not cover.

What Does Performance Car Insurance Cover?

Again, policy specifics will vary between insurance providers, but this type of policy generally covers the following:

  • Theft
  • Fire
  • Damage to other cars and vehicles
  • Damage to your car
  • Car parts
  • Salvage retention
  • Windscreen repair
  • Courtesy Car
  • Cover for driving other cars


High-Performance Car Coverage is Expensive

With the ownership of a powerful car comes the responsibility to get the right type of car coverage. Expect that coverage for your performance car will be more expensive than for standard cars. Why? Let’s take a look:

  • Worth/Value: a performance car costs more than a standard vehicle.
  • Higher risk: while you see a wonderful car (and it is), insurance providers see your car as a higher risk than normal cars. That’s due to your car’s high-powered engine, which allows the car to reach higher speeds, etc. Higher speeds naturally carry more risk than normal speeds and insurers understand the temptation that comes with a powerful car that’s able to achieve high speeds in a matter of seconds. You’re bound to try it out—and insurers know this.
  • Repairs & replacement parts: repairs will run higher, too, and replacement parts come with a higher price tag.
  • Target: your car will become a high-level target for thieves and vandals.

Other details that determine how much you’ll have to pay for performance car insurance include:

  • Your gender & age
  • Location
  • Driving history (the more tickets, etc., the higher your insurance)
  • How often you drive and how many miles you drive annually

If you’re a young driver, expect to pay even higher insurance premiums. Young people have to pay higher insurance rates no matter what type of car they drive. This is because of the tendency some young people have to be reckless when driving. Insurers view young people with a high-performance car as highly risky, so their insurance rates will be very high.

Helpful Links: Insurance Associations

ABI –  Association of British Insurers – The Association of British Insurers is the leading trade association for insurers and providers of long term savings. … need to contact their insurer for a Green Card which they will need to carry on them if they wish to drive their vehicle in the EU.

BIBA – British Insurance Brokers’ Association – The British Insurance Brokers’ Association (BIBA) is the UK ‘s leading general insurance organisation.

Tips to Keep Insurance Costs Down

While performance car insurance is more expensive, it’s well worth the investment when it comes to protecting you and your valuable high-performance car. Here are some tips that may help to lower the cover on your performance vehicle:


1). Young drivers: add experienced driver: adding an experienced (older) driver to your coverage may help to lower your premium. Always be honest about who is driving the car, and make sure they know you’re the main driver. Not giving the insurance company the right information is considered insurance fraud.

2). Specialist providers: may be able to give you a better price than a regular auto insurance provider. For instance, some insurers offer discounts for low mileage or offer a lower premium if you join an official car club.

3). Install security measures: some providers also offer lower premiums if your car has security measures, such as an immobilizer or a tracker. The immobilizer works to keep just anyone from starting the engine. They would need to have the correct key or fob, which makes your car better protected against hotwiring.  A tracker is a security system in the car that makes it easier to track if the car’s stolen. Some trackers also include software to remotely immobilise a car.

4). Increase voluntary excess: this is one method that can lower your premiums; however, you’ll need to make sure you’re able to afford to pay any excess in the event of a claim. Voluntary excess is a fixed amount you’re required to pay after making a claim. Usually, the insurer will pay up to a specific amount, and once that’s reached, you’ll have to pay the remainder yourself.

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