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Annual insurance for a UK sports car typically costs between £700 to £5,000, depending on the type of car, driver age and experience, mileage and location, as well as other risk factors. High-end models, such as Ferraris, are more expensive to insure than less-lucury sport vehicles. Regardless of make and model, there are ways you can get cheaper car insurance for your beloved sports car.
Factors that increase sports car insurance premiums include:
The key factors impacting costs include:
Young, inexperienced drivers pay exorbitant premiums for sports car policies. However, rates decrease with experience if a clean driving history is maintained.
Pricier, rare and powerful sports car models cost more to insure than cheaper variants.
Secure garaging, immobilisers, alarms and trackers help minimise theft risk and reduce premiums.
It’s cheaper to insure a car you only use occasionally than a car you use daily.
Urban areas, high crime locations and on-street parking incur higher insurance rates than rural areas and homes with a secure garage space.
Insurers classify sports cars as performance vehicles with high horsepower, which include brands such as Porsche, Ferrari, Lamborghini, McLaren, Lotus and Aston Martin.
Sports car insurance is more expensive due to its high value, powerful engines and increased accident and theft risk, as well as for its attractiveness to younger drivers.
While insurers don’t offer specific discounts for sports cars, they do tend to offer discounts for factors such as multicar policies, experienced drivers, limited mileage agreements, advanced security features, good driving records and a history of no claims.
Yes. You may earn discounts on insurance for high-value sports models for adding extra security, such as an approved alarm system, immobiliser or GPS tracking device.
Reasonably priced sports cars, such as the Toyota GT86, Mazda MX-5 and the basic models of the BMW Z4, Audi TT and Porsche Boxster, tend to have lower insurance premiums.
