High Performance Car Insurance
The high performance car insurance market is a bit more narrow in range and scope than for standard or short-term insurance, so be patient as you search for affordable cover for this high-risk type of vehicle. Because of the risk band associated with performance vehicles, you probably already know that insurance premiums are going to be higher than for a family sedan or an economical model. Because you like this type of vehicle, though, and probably want to keep it looking as good as it runs, high-performance comprehensive cover is probably the right speciality insurance deal for you. Whilst most insurance companies will look at the type of car and immediately reach for quotes at the highest end of the scale, speciality companies take a different approach. They know that performance cars are more likely to be involved in an accident than a small, fuel-efficient model is. They know that repair costs are higher and waits are longer. But they understand the pride and affection you have for this high-risk car as well, and they are much more sympathetic in their high performance car insurance rates they will offer you.
If you drive your high-performance car only occasionally, you can save considerable cost by opting for short-term insurance for those occasional days when you take it for a spin. Relying on other transportation like Group 1 cars for daily driving will cost you considerably less even allowing for the temporary coverage on performance car days. If you do opt to drive that high-risk auto mobile on a regular basis, you definitely should lean toward speciality comprehensive cover for it.
Very few insurance companies will issue third-party cover for your high-performance car. The risks outweigh any real benefit of cover. You might find a third-party fire and theft policy for it if your car is not in very good shape yet, but your best bet to look for valid offers is with comprehensive high performance car insurance. Only comprehensive cover will pay to repair that treasured investment. Only comprehensive performance car insurance from a speciality carrier will provide the cheapest cover rates that allow those repairs to your vehicle, regardless of who caused the accident that damaged that beauty. You probably don’t have the money to purchase those parts or pay the high speciality repair labour costs. Have your comprehensive insurance pay for it instead and just pay your excess.
Even if you believe you have found the high-performance car insurance deal of a lifetime, it’s always a sound practise to seek a second – or third or fourth – opinion. There may be a condition or restriction that hasn’t sunk in yet that could turn that deal into a nightmare at the worst possible time. Some of the best and most reliable sources of valid and current information about speciality companies and speciality insurance. The Financial Services Authority and the Association of British Insurers are two organisations that might top any advice source list. Either can advise a consumer on the trustworthiness of an insurance company or advise about policy types and speciality coverage. You have advocates in insurance brokers as well. They are not associated with particular carriers and don’t get paid based on selling for a few insurance companies. They keep your interests in mind and can advise according to your needs and wants. Their expert knowledge may be invaluable in finding the right high performance car insurance for your situation, your car and especially for your budget.
Consider saving the wear and tear on your performance auto and combine cover options with a lower-risk vehicle. Many speciality carriers can help tailor a policy that won’t break your insurance budget for multiple-car insurance at very reasonable rates. You simply combine a comprehensive, long-term policy for your economical car with the temporary additions for your high-risk car for short durations. If that’s not viable, you still have options.
Compare multiple quotes with our free, online tools to find those carriers that are more sympathetic to high-performance cars: Lower premiums paired with very decent benefits flag those speciality carriers. Be sure to tailor those low-priced policies for every benefit that you do want and avoid paying for benefits you don’t want: Avoiding unnecessary cover can help reduce those rates. Then qualify for every discount the plan offers, both in the long-term and the short-term. Parking in a secured garage, a car alarm and an immobiliser will edge those premiums downward. Above all, drive safely! If you complete a policy term with no claims filed, most speciality carriers will reduce your premiums on your renewal policy. Those no claims bonuses may reduce your high performance car insurance rates by 65 per cent or more over time, and with high-risk insurance, that’s quite a savings you can start enjoying for your driving life.