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Performance Car Insurance
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Performance Car Insurance Quotes
Car insurance for high performance cars
has become a specialists car insurance risk as now high performance
cars are in the reach of more drivers in the UK this has meant
Insurers are having to accommodate need and ensure adequate
risk. More manufacturers are producing faster cars with higher
performance in this category to attract more adventurous and
sporting drivers so must the Insurance companies react to
this ever increasing demand to provide suitable car insurance
cover at affordable premiums.
These cars are all road production cars and
created for normal road use and not to be confused with specialist
cars created for racing or converted for such use. There are
some cars that are normal road cars that have been converted
for use off road car rallies and are driven on the public
roads as well.
Car Insurance companies are obliged to provide
cover for more powerful cars however depending upon the cost
of the car some insurance companies refuse to offer cover
for risks they are not prepared to take especially in the
super car category.
The super car category is n a class of its own
as these include cars with values in excess of £150,000
and super performance vehicles such as the McClaran F1 road
car with a price tag over £400,000 is in a super class
of its own with only one or two insurers would even consider
offering insurance cover at all and also set a minimum age
limit for any driver.
There
are basically 3 levels of high performance cars:
- Performance saloons
- Specialist Performance Cars
- Super Cars
Performance Cars
These are cars at the performance end of
the standard production salon car and the Golf GTI’s
nearly all car manufacturers have higher performance specifications
for their standard models available for the driver who wants
the fastest options on normal vehicles.
Specialist Performance Cars
These are cars that have been specifically
manufactured as sporting vehicles such as Mercedes CLK, BMW
Conversions, Cars such as Subaru Impreza is perhaps one of
the fastest production saloon cars produced for the mass market.
Super Cars
These are the cars for the rich and famous
who can afford the high price tags and normally they are not
bothered about the high cost of the insurance, lets face it
if you can afford a car well over £100,000 the chances
are you are not going to be bothered about a insurance premium
of over £5,000.
The majority of policyholders seeking car insurance
fall within the first category with a small percentage in
the last super car category.
Here is a list of cars and a small test for
you to guess what category they fall within.
Car
insurance and motor quotations are quoted on several factors
one most important factor is the type of vehicle and model.
Insurance companies grade cars into 20 categories; 1 being
the lowest risk and 20 being the highest.
Try and guess the category you think the following
cars fall into and bearing in mind different models will vary
according to their specification - you might be surprised:
- Audi A3 ranges from groups? To?
- Jaguar S type ranges from groups? To?
- BMW 3 series ranges? To?
- BMW 5 series ranges from? To?
- BMW M series are group?
>
- Aston Martin's are group?
- Audi TT ranges from? To?
- Ferraris are group?
- Porsche 911's are group?
- Bentley Saloons are group?
For the answers see the foot of this article.
If you get them all correct you must be a car insurance expert.
When calculating premiums Insurance Companies
use the following basic factors:
- Type of Car
- The Drivers
- The Use
Most people are aware of the first two factors
and obviously know what car they are asking a motor quotation
for and naturally the also know about themselves but sometimes
people forget incidental points but could be considered a
material fact by the insurer.
The problem of The Use of vehicle is that many
policy holders forget to mention commuting as a part of their
daily life and policies are normally classified as SD&P:
- Social Domestic & Pleasure
- Social Domestic & Pleasure including
commuting to work
- Own Business Use
Plus more categories depending upon the
activities of the policy holder / drivers.
The occupation
of the driver is of great importance to the insurer when calculating
the motor quotation as the more miles the car is on the road
the increased incidence of accidents can occur and naturally
on the opposite side if the car is garaged most of the time
and rarely driven the risk to the insurer is greatly reduced.
Regular
trips to and from your place of work will have a bearing on
your motor insurance quotation as these trips are made at
least twice a day during peak time traffic when road conditions
can be difficult and traffic jams can lead to frustrating
situations and short tempered driving conditions which can
lead to accidents.
Performance car insurance and motor quotations
for such vehicles requires specialist attention by insurers
as their risks are increased exponentionaly as repair costs
are higher due to vehicle replacement parts and these increase
according to the category and value of the car.
It certainly pays to shop around for your motor
insurance quotations and the internet has given the performance
car owner the facility to surf the net for competitive motor
insurance quotations which can make substantial savings on
normally much higher premiums.
Answers to Car Insurance Groups
- The Audi A3 ranges from groups 9 to 18.
- Jaguar S type ranges from groups 14 to 19.
- BMW 3 series ranges 11 to 20.
- BMW 5 series ranges from 14 to 19.
- BMW M series are group 20.
- Aston Martin's are group 20.
- Audi TT ranges from 17 to 18.
- Ferrari's are group 20.
- Porsche 911's are group 20.
- Bentley Saloons are group 20.
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