Sports cars come at a price, and it’s not the cost of the vehicle itself were referring to, it is the cost of sports car insurance for young drivers. So if you’re just shopping for a sports car or just have one already, be prepared to pay a higher insurance premium than the average driver. Performance vehicles or sports car insurance cover for young drivers is much steeper than regular run around vehicles as they are statistically more risky.
For one, they are fitted with more robust engines and can achieve high speeds extremely fast and second; most sports cars are manufactured in a foreign land such as Honda, Toyota, which makes replacement parts expensive as well. As a result, cost of repairs is generally higher compared to locally manufactured vehicles, and not to mention the cost of specialist labour. To add to this, sports cars are a thief’s delight, so the chances of them being stolen are substantially higher compared to standard vehicles.
Performance cars and young drivers in particular are a lethal combination with regards to auto insurance. Statistics indicate that drivers between the ages of 17 to 25 accounted for a third of the total road fatalities in the UK. As a result, young drivers pay a lot more for sports car insurance premiums than older motorists. Put a teenager behind the wheel of a modest sports car such as a Honda Civic, and you’re looking at a very risky affair.
Considering the risks involved with sports cars, some UK car insurance companies refuse to provide any level of cover. But we can provide you with an instant quote for a cheap deal on sports car insurance. For all the reasons above, young sports car owners and enthusiasts are viewed by insurers as highly likely to make a claim on their policies. Not only this, they are regarded as making claims that are often costlier than those who own standard vehicles.
Before getting an instant sports car insurance quote from us or buying a new performance vehicle, it’s worth noting how most sports car premiums are calculated. There are several factors taken into account when calculating premiums such as age, gender, the area you live in and driving experience among others. Insurance companies will also determine the insurance group assigned to your sports vehicle.
All cars regardless of their physical characteristics are placed into 1 of 50 insurance groups. They are classified under each group based on several factors such as rate of acceleration, engine size, cost of repairs and top speed. It goes without saying that a vehicle with a small engine that is less powerful and maintenance efficient will cost less in car insurance than a car fitted with a powerful engine that can sprint at blazing speeds.
It is important to check whether your car falls into a specific sports car group rather than assuming it doesn’t. For example, you may think that an imported vehicle from Japan will cost is less in car insurance because it has four doors and room for a booster seat, but you may be in for a big surprise when obtaining an insurance quote. Most Japanese cars are built to higher specifications than European or American car manufacturers hence may be assigned to a higher group.
There are several ways to get an affordable deal on sports car insurance for young drivers, and we generate most quotes within a couple minutes. Avoid modifying your sports car as you may need specialist car cover over and above regular sports car cover. Furthermore, insurance companies are sceptical about modification as they are unable to completely authenticate the power that lies beneath the hood of the vehicle. The original safety specs may also be compromised when a vehicle is modified, which will only result in higher costs of insurance.
The chances of theft can be minimized by installing industry approved anti theft devices such as immobilisers and alarms in your vehicle. You could also make sure that your sports vehicle is parked in a monitored space or a locked garage. If your vehicle is parked on the street regardless of the neighbourhood, the cost of insurance will be much higher.
Owing to the weather or high fuel costs of sports car, some motorists tend to drive them occasionally on weekends or during favourable weather. If this is the case, you may be able to score a lower premium by agreeing to drive only a limited number of miles annually as the less you drive, the less chances you have of being involved in a crash. We’ve provided sports car insurance for young drivers of Maseratis and Porsches and can help you get affordable cover that won’t break the bank. Get a Quote now here at U Drive Cover