Specialist car insurance frequently asked questions
How to reduce the cost of sports car insurance?
The most important thing to remember when comparing insurances on price is to make sure that you are comparing like for like cover. Many policies are cheaper because they do not offer the same level or range of cover, and this could leave you regretting your decision of buying cheap car insurance should you need to make a claim.
Check that a policy has all of the cover you need to ensure that you are getting a cheaper policy, not simply one with less cover. One way of making sure of this is by using a broker such as Aon, who will establish your requirements and then go to a panel of leading specialist car insurers to find the policy that is best suited to your needs.
What cars are considered to be sports cars by insurance companies?
There are a number of reasons why a car may be considered a 'sports' car. Broadly speaking, for insurance purposes a sports car is any car with special features, which make it a greater risk to insure than a normal 'daily commute' type vehicles. This might include:
How much more is sports car insurance compared to regular car insurance?
Unfortunately there is no 'typical' price for sports car insurance, as the cars and the associated risks are completely different from one person to another. This means that it is not possible to say how much more expensive a sports car policy will be. The best thing to do is to shop around and find out how much a policy will be for your individual situation. Prices do, however, vary with factors such as:
- Vehicle value
- Driver age and claims history
- Vehicle use and storage
- Extra additions, for example breakdown cover
The increased requirements of specialists vehicles mean that their insurance policies are not simply more expensive, but provide more cover where it is required. Which is why it can not be compared against general car insurance.
What happens if you don't get car insurance?
Driving a vehicle on a road or in a public place without insurance against third party risk is an offence. You need to be insured to use a specified vehicle, and the Police have the power to seize and in appropriate cases, destroy vehicles that are being driven uninsured. The offence carries the maximum fine of £5,000, and the automatic endorsement of an offender's licence with 6-8 penalty points. The courts can also order the immediate disqualification of the offender. This reflects how serious an offence driving without insurance is, and means that you MUST seek proper insurance.
For more information visit:
http://www.direct.gov.uk/en/Motoring/OwningAVehicle/Motorinsurance/DG_067639
What sports cars do not require premium insurance prices?
There are many different factors that affect the premium of sports car insurance policies. All cars are allocated an 'insurance group' rating numbered from 1 - 20, with one being the lowest and 20 the highest. The car's value, engine displacement and safety are just some of the elements, which may affect the group assigned to it.
This classification means that the premium price for any car is a reflection of its risk. This premium may drop over time due to factors such as depreciation, but the only way to know how much a particular car will cost a particular driver is to receive a quote for it. If you would like to discuss your insurance requirements or receive a quote please call 0845 075 0491.
Where can I buy sports car insurance?
There are many specialist insurers and brokers, such as Aon, who have policies tailored to the requirements of high value sports car owners. This means that you can buy sports car insurance from someone who understands your unique requirements and can offer a tailored policy to suit your needs. Call 0845 075 0491 and speak to one of our team for more information.
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