Buying a sports car today is easy but often potential buyers are scared of the possible costs in running a high performance car, insurance being one particular area. Just like the cars themselves, sports car insurance is a specialist area of auto insurance that deals purely with high performance cars. Owing to the nature of high performance cars, sports car insurance is usually agreed only as a comprehensive policy covering almost any eventuality including damage, injury, liability and legal costs.
Each driver's sports car insurance premium is calculated individually, partly using their previous driving record, for obvious reason. All cars, sports cars or not, have two main areas that are used to help determine the overall insurance risk and they are the cars weight and power plus the cost of potential repairs. Although the driver's previous record is taken into account when assessing the sports car insurance risk, so is his (or hers) insurance claims record plus a number of other factors. Insurance companies will also investigate other areas concerning the car itself for instance, where the driver lives, the time it takes for a car thief to break into it and how effective it is in a collision. The driver's age, sex, driving experience type of work and even what sort of credit rating he has can all affect the annual sports car insurance premium.
Of course, because so many collisions take place with cars traveling at high speeds, sports car insurance providers charge sports car drivers more than a family car driver who is less likely to drive in the same manner as his counterpart. Unfortunately, insurance figure show that it is the luxury, high performance sports car sector that has the highest risk of accident damage. Of course that does not include the number of these vehicles that are stolen or subject to vehicle fraud.
The best way to get competitive sports car insurance is to shop around and research information from insurance companies who are specialists in this area. Otherwise, saving money on sports car insurance works in much the same way as saving money on any form of insurance, be a good driver and keep a clean record. Although many sports car insurance specialists may, in order to keep premiums down, restrict the number of miles you can drive in the vehicle every year and can make other stipulations especially if you have a poor driving record or are below a certain age. Some insurance companies go even further and make other recommendations before they will accept the risk, especially if the car is worth a great deal of money, up to and including a vehicle tracking system and an engine immobilizer. Fortunately in an effort to assist their customers, most sports car manufacturers have arranged their own sports car insurance plans which are usually competitive but they will usually only provide this if the owner does not have a poor driving record.
Often, a good way forward is to try and find a broker who only deals with sports car insurance and is experienced at dealing with claims and legal aspects. One important issue to bear in mind is that if there have been any engine or handling modifications to you vehicle, many insurance companies will probably decline your insurance application.
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