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Posts Tagged ‘Sports Cars’

Every driver needs car insurance, regardless of the motor vehicle they are driving. If you are the owner of a sports car, you will need car insurance just like everybody else, if not more so! Sports cars are expensive, and if you have an accident you will have to pay out a lot of money for repairs or a replacement.

When you purchase your sports car, you need to approach the insurance company of your choice immediately. Prior to your decision on which insurance company to go with, you must obtain a few comparative quotes. With a few quotes in hand, you will make a more informed decision. Remember that the cheapest quote is not necessarily the best one. You need to look for value for money in your policy. Requesting a higher excess will secure you a lower premium, and vice versa. Although you will need to ensure that you can afford the cost of the excess if you decide to make it high. It is a good idea to keep aside a small savings account, for emergencies such as these. Where a sports car is involved, you know you are going to pay a lot of money on even the smallest repairs. In some cases, your insurance company may not cover the repairs for certain damages.

You can’t run away from the fact that you are going to pay a bit more for your premium for a sports car than other people would with a normal motor vehicle. The point is that sports cars usually move faster than other vehicles, making them more dangerous on the roads. Statistically, speed is one of the leading causes of motor vehicle collisions. Therefore, if you have a car that is capable of going very fast, the insurance companies will have to stick it with a higher premium tag. Furthermore, you have to also remember that sports cars are favoured by thieves. The parts are sold for a lot of money, making them popular theft targets. This also contributes to the higher premium.

In order to keep your premium as low as possible, you need to ensure that you lower your car’s risk profile. A lot of sports car owners are enticed to modify their vehicles to look better or go faster, but this is bad for the insurance premium. A modified or enhanced vehicle will have a higher premium because it is faster and therefore more likely to be badly damaged in an accident. Furthermore, modified and enhanced vehicles are higher theft risks too. If you DO modify your vehicle, you need to inform your insurance company immediately. If you have an accident and they find that you did not inform them of modifications on your vehicle, they may not have to pay out. The best thing you can do with regards to your theft risk is to install a top of the line security system in your vehicle. A good alarm system, immobiliser and tracking device should help substantially lower your premium.

There are many benefits to being a sports car driver, and by all means, enjoy your motor vehicle to the fullest. Always remember to be safe, and adhere to the road rules to prevent being in a collision.

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Have you ever wondered why sports cars cost more to insure than other types of car – even when the purchase price of the sports car is less expensive? If so, the following are the main reasons why this is the case.

Car Insurance Group Categories

While many of the factors that determine the make-up of car insurance quotes are not known, what is known is that insurance companies ‘group’ certain types of cars into categories. For this purposes, insurance companies have groups ranging from 1 through to 20. Group 1 is the least expensive type of car to insure. Group 20 is the most expensive type of car to insure. So, if you buy a Fiat Panda, you’ll be classed a Group 1 car driver. Buy a sports car, any sports car, and you are looking at being classed a Group 15 and above driver. Buy a performance sports car, such as a Porsche 911, and you’ll definitely be Group 20 driver!

Theft

Over 2 million car crimes happen in the UK each and every year. Aside from popular model cars, such a Ford, the biggest car crime category is sports cars! Have a soft-top convertible sports car, and the chances of it being stolen are red hot! So, even if you live out in the countryside with no one else around for miles, you will still be seen as driving an extremely high risk car when it comes to car theft. With increased risk, comes an increased premium!

Accidents

Insurance companies are not charities – they’re in the business to make money. As such, they keep vast amounts of data and part of that data tells them that if you drive a sports car there is an increased risk you’ll be in an accident and that the accident will be more serious (and costly) than if you were driving a regular car. As such, the premium charge is going to be higher.

Under 30?

Unless you have just won the Lottery, if you are under 30 there are no appealing factors when it comes to insuring a sports car. Not only do the insurance company see the car you drive as being a high risk car to insure, but you as the driver are far more risky to insure as well. Consequently, car insurance premiums for those 30 years of age or under, driving sports cars, is probably the highest of all types of car insurance available in the UK today.

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Sports car insurance premiums seem to continually get higher. There are a lot of factors to cause your car insurance rates to increase, but did you know there are things you need to do to be sure you are getting a good rate on sports car policies?

Many times people wonder why classic autos and vintage autos insurance premiums are high just like cars that have the big fast engines like what you see in corvettes or other fast sports cars. The bottom line is insurance actuaries calculate the insurance rates and if you want to get the best deal on your insurance you have to know how insurance companies think.

It is obvious that you get insurance to protect your car and you do not want just any insurance, you want good auto insurance because your car is special. But you also want to balance getting coverage you want at affordable prices.

So if you are a sports car driver and you want to get good insurance then here a few things you need to consider.

First, if you have multiple policies with the same company you can many times get a multi-policy discount. You probably have the coverage for your house or apartment already so it is simple to make sure you have it with the same company that is covering your sports vehicle and this can lower your auto insurance rates.

Another tip to lower your premiums is to ask to have your liability and collision coverage suspended in the winter time if you are not driving your sports car. Now this is said with a big caution. You can not drive your car while the coverage is suspended and if you do then your insurance will not pay for a claim. But this tip can reduce your out of pocket insurance premiums.

Still yet another tip to make your car insurance rates easier on your wallet is to use the excuse of your high insurance rates to negotiate a lower car price. In other words the money is coming out of your pocket to pay for your sports car as well as to pay for your sports car insurance premiums so the car sales person knows you will have to pay high premiums so use this fact to get the dealership to give you a better price. If the dealership wants to earn your business then they will move on their price.

A final tip to help you if you are thinking of buying a sports car and if you are shopping for insurance is to be sure you have a good driving record. If you have tickets your insurance premiums will be high. To be sure to get the best deal you really need to have a clean driving record. There are some companies that specialize in different types of auto insurance including, but not limited to getting classical car insurance, historical auto insurance, and of course sports car insurance.

Get Quotes Online.

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Owning a sports car can be very exciting, but it can also be very expensive to maintain and operate. Though many websites offer some of the lowest rates of sports car insurance on the Internet, certain precautions can be followed to lower the premiums further.

Sports cars that are driven in a city will need higher insurance premiums, due to the higher crime rates and high risk for accidents when compared to the country. Also, cars with higher mileage will also be prone to pay higher car insurance premiums. This is because people who travel a lot are more prone to accidents on the road.

When the car is already secured with an immobilizer, car alarm, steering lock, the insurance would be considerably reduced. A detachable stereo is another added advantage. These precautions are particularly useful in areas that have higher crime rates.

Some background research might help in understanding discounts being offered by companies. Often these have some hidden costs that need to be address before agreeing to do business with such companies. Another factor that will reduce the insurance policy amount is the number of people being covered by the policy.

Many companies provide an online quote in as les than five minutes. These can be considered before shopping around. Online research can provide an added advantage in knowing the insurance amount currently in the market. Local agents can be located using the Internet easily. Also, get some valuable insurance related information from family and friends, who might own a similar model or a different model sports car before shopping around.

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