Performance Car Insurance

High Performance Car Insurance from Keith Michaels

Many insurers charge more to cover a performance car because of the perceived greater risk of such a fast, powerful vehicle. As a specialist insurance broker, our team has a wealth of experience in performance car insurance.

We have a large number of contacts and have been writing these types of policies for over 30 years. We are real car enthusiasts who take an interest in the vehicles our customers drive. Whether you have a supercar or a hot hatch, a daily drive or a second vehicle, our performance car insurance specialists will be able to provide an appropriate policy for you. We retain a one to one contact with all our performance car drivers so you always know who you will be dealing with in our office.

What cars are considered by a car insurance company as a high-performance car?

Here is a small sample of cars that are considered to be ‘high-performance’ with varying insurance groups as an example: Honda Civic Type R, BMW M2, Ferrari 488 GTB, McLaren 720S, Ford Focus RS, Mercedes AMG C63, Porsche 911 GT3, Volkswagen Golf GTI.

Performance Car Insurance – Manufacturers We Cover

Japanese Performance Cars

Keith Michaels have been at the forefront of Japanese performance car insurance for 30 years. We are recognised as one of the UK’s leading providers of Japanese insurance and can provide cover for manufacturers including Subaru, Mitsubishi, Nissan, Mazda, Honda and Toyota.

Whether a UK model or an import, a second car or a daily driver, we can help. We will work to find you the best deal by leveraging our industry standing to get you the best quote.

Specialist Schemes

We have a client base for performance car insurance that goes back many years and these customers stay with us – not just for the rates and policies we offer, but because we are all passionate about performance and high-performance cars. All our team has a wealth of experience in performance car insurance. We always look at each risk on its own merits and give an insurance quote based on this, have access to a large number of different insurance companies, and will look to insure many types of vehicles.

What factors affect performance car premiums?

The make and model of a car has a big influence on high performance car premiums. For example, every modern Ferrari is in Insurance Group 50, while even the fastest of the RenaultSport range is no higher than Group 34. Car insurance claim data shows that high performance cars result in more frequent insurance claims. As a result, they are more likely to attract a high insurance premium.

Generally, high performance cars have higher premiums than standard cars because:

– Their powerful engines allow the cars to reach high speeds rapidly, meaning they are at a higher likelihood of an accident.

– They are at a higher risk of vandalism and theft due to their higher value.

– The cost of repairs will be higher than usual, as the parts themselves will be more expensive. Specialist labour may also be required, which is usually more costly.

Do I need classic car insurance for my performance car?

If your car is over 15 years old, it may qualify for classic car insurance. From vintage to rare cars, we have a number of specialist schemes to protect your pride and joy. With benefits including agreed-value policies, discounts for limited mileage and 2^nd or 3^rd cars, you can relax in the knowledge your car is protected.

What counts as a high-performance car?

The dictionary definition of a performance car is “a car with high performance; a fast or powerful car.” This definition is very vague. Insurance companies don’t necessarily “define” performance cars. Rather, they use a variety of metrics to accurately assess the risk analysis of insuring them. The higher the performance, cost of repair etc, the higher the insurance group.

Car insurance groups are determined by the Group Rating Panel, supported by Thatcham Research. This panel decides which insurance group every new car model falls into. So, from an insurance perspective, it could be argued that any car in the higher groups could be considered a performance car.

According to the Association of British Insurers, the cost of car repairs take up more than half of insurance pay-outs, which is why repair costs are a strong factor when determining grouping. This is also why modified and customised cars often come with higher premiums.

View the A-Z of cars that we insure under our performance car insurance schemes.

Reducing the cost of your insurance

The best quote for performance car insurance will always depend on a number of factors, but the following do help:

• Previous driving history – your no claims bonus will help reduce the cost of your insurance.
• Reduced mileage – the less you drive, the less likely you are to have an accident. We offer discounts for limited mileage, so if you only drive your performance car a limited amount a year, let us know.
• Security – your performance car can be a target for criminals, so we offer discounts for cars parked in a secure location. It also helps if your car has alarms/immobilisers.