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Cheap high performance car insurance isn't a myth

Anyone who drives a high performance car will know that it can be quite a task finding affordable car insurance. However, by following a few simple tips, you can reduce the premium you're charged by insurance companies. One of the biggest factors determining whether or not you find cheap high performance car insurance is the insurance group your vehicle is placed in.

Originally there were 20 insurance groups that a car could be placed in, but this has recently been expanded to 50 groups to allow insurers quote motorists fairer premiums.

High performance cars are placed in the higher groups and charged more for car insurance. However, even if you own a high performance car there are still ways you can get it into a lower group.

The best way of getting your car into a lower insurance group is by ensuring it has the latest security technologies installed. Insurance providers love features like alarms, immobilisers and tracking devices.

Spending a relatively small amount of money on these features will save you a fortune when the time comes to purchase car insurance.

The other elements that determine which insurance group your car is placed in include the cost of spare parts, repair costs, the value of the car and the car's performance, so take these features into account when you're purchasing a vehicle.

Another excellent way of securing cheap high performance car insurance is by driving as a named driver under someone else's policy. It's a great way of avoiding extortionate premiums, but unfortunately you don't earn any no claims bonuses driving this way.

 

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