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Insuring a sports car
Insurance is a necessity for all vehicles
on the road today whether it is a van, a little run around or
a sports car, it can not be questioned, no ifs, no buts it is
a legal requirement. Depending on which vehicle you drive determines
the amount you pay for your cover and this guide will show you
how to cut costs when insuring your expensive sports or performance
car.
Insurance terminology
When searching for insurance, you are likely
to come across these terms:
Policy/cover – this is the actual legal
contract of the insurance cover
Premium – this is the amount of money you
pay in order to be covered
Third party – this is a type of cover which
covers other parties involved if it is your fault
Fully comprehensive – this is a type of
cover which covers everyone affected including you regardless
of who is to blame
Excess – this is an agreed sum of money
which is paid when making a claim
When it comes to buying your sports car,
you should be aware that the premiums are going to be sky high,
the car will be faster, more powerful and is statistically more
likely to be involved in an accident and if involved, more damage
will be caused. It is also well known that the drivers of these
high performance cars are risk takers and once behind the wheel
of an engineering masterpiece they will no doubt test the machines
speed and handling limits.
One of the main factors which determine
your premium is experience; insurance costs normally drop at the
ages of 25, 30 and 50. Driving a sports car is not usually recommended
to anyone under the age of 30 as enough experience has been acquired,
giving that you have not had an accident, and older drivers tend
to be more sensible drivers.
If you chose to purchase a sports car the
be sure to park it away at night in a garage or at least on a
drive, vandals and thieves will also be interested in your car
so ensure all is safe when not in use. This can reduce your policy.
When choosing your insurer you need to
shop around, do not simply opt for the first deal that you see.
One option is to use online comparison sites to search the market
instantly; most comparison sites now offer the chance to compare
the entire policy against others.
Look at specialist insurers who only deal
in the type of sports car you drive as some of the mainstream
providers will not even take on a policy for such a car, these
specialists can offer cheaper quotes as they have a more in-depth
knowledge of the car.
Look at taking an advanced driving course
as this will prove to the insurers that you can handle the sports
car and are therefore less likely to have an accident.
If you are have the opportunity to drive
a sports car, use these tip to reduce your car
insurance premiums.
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