Why is performance car insurance so expensive?

Why exactly is performance car insurance more expensive?

Insurers are looking at a number of risk factors, as explained below. Stack those up and before you know it, you've blown the budget. 4YoungDrivers.co.uk will help you find the best insurance deal for your high performance car though, so call us for a quote.

The specification of the vehicle

Part of the attraction is the higher spec of the car compared to other models in the range. From its performance on the road through to what kit comes as standard, you're paying for something that everyone else wishes they had. Unfortunately, what's desirable to you also makes the car a bigger target for thieves. Insurers apply a higher risk factor to high spec cars for this reason.

The performance of the vehicle

These cars are designed to be exactly what they look like: performance machines. This translates into an engine specification that upgrades the majority of lower model cars within the same range. The problem insuring these machines is the fact that some of them can accelerate to very high speeds in extremely short times. This makes them somewhat more dangerous on the road in the wrong hands and thus the risk level (and premium) rises for an insurance company.


It should go without saying that one of the major factors in increasing the premium for high performance cars are modifications. These modifications can be as simple as changing the alloy wheels on the car or more complex, such as getting the engine modified with a management chip. Whatever the modification, it can significantly increase the yearly premium in contrast to the same model that is unmodified.

Ways to reduce the premium

There are ways to help reduce the premium and therefore make these types of vehicle more accessible to young and old drivers alike. These include:

Be a responsible driver - The more responsible a person is behind the wheel, the lower the cost of insurance will become. Keep a clean licence and generally this will be reflected by the insurance companies with lower premiums. Rack up those speeding fines and watch your insurance rise with it. Avoid accidents and your no claim bonus will accumulate to give you lower insurance.

Secure your car - Make sure that the car is fitted with Thatcham approved security devices to reduce the risk of theft and again, many insurance companies will reward you for being responsible. Another way to reduce costs is to house the car in a garage overnight or at least have some off-street parking.

Got a high performance car?

Get a Quote

Tags: Car Insurance Premiums, Performance Car Insurance

Released On 14th Sep 2006

You may also be interested in