The performance car insurance policies are there for the car enthusiasts that love the feel of raw power at their fingertips. Each policy is tailored made to fit the needs of the driver and the vehicles they love to drive. These specialised vehicles are made with engines that produce horsepower and torque closer to what race cars generate with a chassis that is low in weight to maximize the vehicles speed and agility.
The performance car polices are tailored made to fit the needs of the vehicle owner who loves performance. The vehicles that can be covered include the old classic cars from years gone by along with the newer supercars only the well off can afford. This type of policy also accommodates the coverage needed for those that build their cars which are modified so they can perform at a higher level than the average streetcar.
Since the high performance cars are valuable, most owners choose to cover them with a comprehensive policy. It is possible to only have third party and third party fire and theft, but due to the high risk associated with these vehicles, the cost of these policies would be high and possibly higher than a comprehensive policy with nearly no benefits for the costs. A comprehensive policy can include the following;
Some extra covers can be added to the performance car policy to help bring peace of mind to the high powered car owner.
Fiat Abarth 500
Ford Fiesta ST
Ford Focus RS
Mercedes-Benz A45 AMG
Peugeot 208 GTI
BMW M3 / M4
Vauxhall Corsa VXR
Subaru Impreza WRX STi
Ford Focus RS
VW Golf GTi / R
Ford Focus ST
The premiums of a performance car insurance policy are higher than a standard car policy because of the higher risk involved in protecting the vehicle. This risk is associated with the more powerful engine under the bonnet, the higher value of the car, the high cost of replacement parts and since most are unique they are targets by thieves. It is also a fact the if you are a young driver particularly under 25 or even under 21 your will face a much higher monthly premium thank older drivers.
Many things can be done to lower the risk of insuring your high performance vehicle. By lowering the risk, the cost of the insurance premiums will be reduced or discounted. By installing a theft determent system or alarm along with a GPS tracker, most insurance firms will discount the premium.
Discounts are also given when the vehicle owner is a member of a car club and when the number of miles on the high performance car is limited on an annual basis. This mileage limit is provided to the insurance company when the policy is taken out and a reduction in the premium is given due to the reduced level of risk the vehicle posses.
When the performance car is stored in a locked building or shed when not in use is another way the risk is reduced. This again can lower the cost of the annual premium. By agreeing to an increase in the excess paid when a claim is made also reduces the risk of the performance car which again will lower the annual premium.
The performance car insurance policies are tailored made to fit the driving needs of the owners who love their high powered vehicles. It is true the premiums cost more, but the policies also protect the vehicles more when there is an incident like an accident or the vehicle is stolen. You will also have salvage retention so the car and its parts will always be under your control.