23rd March 2015

Classic & sports car insurance: 'Getting off to a good start'

Classic & sports car insurance: 'Getting off to a good start'

With the 66th Season of the Formula 1 under way, it is exciting times for High Performance Car enthusiasts. With Ferrari finishing quickest in three of the first four days of pre-season testing, within the private constraints of the Jerez racing track, McLaren having to abandon running on the first day of the second pre-season test in Spain and not to mention Lewis Hamilton claiming the 34th victory of his career at Albert Park during the Australian Grand Prix and we are poised for an exciting competition.

Not so exciting times for High Performance Car enthusiasts is the trouble you face when insuring your vehicles. The horrible task of scrutinizing the vast variety of insurers on comparison websites, then finding a shockingly low quote, only to find out that the cover falls short of your expectations. And if that is not enough, when you try to contact the number on the site, you inevitably reach an automated service.

According to the AA, the costs of overall motor insurance could rise by as much as 10% this year.  Below are some tips for getting the best possible premiums for your performance cars:

  • Look to limit the mileage – review your most recent service or MOT to gauge what your annual mileage is. You may be surprised how little mileage you actually do.

  • Are you a member an Owners Club?

  • Additional Security Precautions i.e. adding a tracker

  • Experience of driving performance vehicles helps.

  • Keep your car secure. Garaged if possible and if it is driveway parked is the drive gated. Also if it is street parked is the CCTV in the area and parking near a street light will help deter thieves.  

  • Look to apply a higher policy excess.

  • If there are more cars than drivers then this will help and the bigger the portfolio the bigger the discount, so telling us about additional cars and your other insurance requirements i.e. home, overseas, commercial insurance, will help save you money.  

  • Professional driving qualification? Some insurers will allow discounts.

Performance car policies provide great value for money whilst providing excellent cover, highlights of this cover is shown below:

  • Protected NCB available    

  • Comprehensive driving of other cars cover available for all named drivers

  • Any driver cover available

  • 90 days European driving

  • Agreed value cover

  • UK and European Breakdown cover included as standard

  • Cover available for:

    • All performance cars including imports and exotica

    • Left hand drive models

    • Modified cars

In conclusion, make sure that you have the best cover in place and that it matches your requirements. We hope you all enjoy the upcoming Formula 1 season and if you would like advice regarding your High Performance Cars then please feel free to contact us.