Sports car insurance

What is sports car insurance? 

Sports car insurance is cover you take out to protect your sports car – it works much like any other car insurance policy.

It’s unlikely you’ll need to find a specialist insurer, although you may want to consider additional policy features such as cover for malicious damage, personal injury or track days.

The challenge with sports car insurance comes with the price of premiums. Sports cars are inevitably classed in the highest insurance groups, meaning cover is more expensive than normal. This is because on average they are involved in accidents more often and replacement parts are costlier.

The good news is that when looking for cheap car insurance for your sports car, it’s still possible to save money if you’re smart and shop around.

Do I need insurance for my sports car?

Yes, you need to be covered with at least third-party insurance for any vehicle you own unless you have legally declared it off the road (called a SORN). 

If you want to drive your sports car on the track you may also need bespoke track day cover. Track days are often considered specialist events and normal car insurance policies won't always cover any damage your car sustains.

What is considered a sports car by insurers?

There’s no universally agreed definition of a sports car but they are generally seen as being smaller, lighter and more powerful than your average car, with two seats that are typically lower to the ground. You’ll generally find them in higher insurance groups. 

Common models that are considered sports cars include Alfa Romeo 4C, Aston Martin Vantage, Audi TT, BMW Z8, Fiat X19, Ford Mustang, Jaguar F-Type, Nissan 240SX and Porsche 997.

What does sports car insurance cover?

Sports car insurance is typically the same as regular car insurance with a few extra features, some of which may be included as standard – so it’s worth checking the terms of any policy. These may include cover for:

• Vandalism or malicious damage, including soft top roof damage
• Modifications, as long as you’ve declared them to your insurer
• Personal accident cover, to protect you as well as your vehicle
• Driving abroad, for when you take the sports car overseas
• Track days, for days out around purpose-built racing circuits

What types of cover can I get for my sports car?

You can get the same cover as for regular car insurance, which ranges from third-party only to third-party, fire and theft to fully comprehensive. Often drivers will look for fully comprehensive cover so that should they be responsible for a road traffic incident, the insurance won’t just cover damage to the third party but also their own vehicle.

How can I get cheaper sports car insurance?

While insurance premiums for sports cars are higher than average, there are ways you can help bring your costs down. These include:

• Avoid modifications: While it’s popular to modify sports cars – for instance, by adding new wheels, tinted windows or a custom exhaust system – this can increase the price of insurance, and insurers can’t check the standard of alterations. It may also make your car more attractive to thieves or vandals
• Boost your security: Your insurance premiums should fall if you add security features such as an alarm or an immobiliser, and park your car in a garage or driveway rather than on the street
• Limit your mileage: Because many sports car owners drive infrequently – on weekends or during warm weather – you might be able to get a significant discount on your sports car insurance if you agree to only drive a certain number of miles per year. You would have to keep to this limit to avoid invalidating your insurance, and your car must remain insured at all times (unless you take it off the road)
• Increase your excess: If you agree to increase your voluntary excess – the amount you pay yourself in any insurance claim – you might be able to get a better deal. You should always make sure you can afford your excess in case you need to make a claim
• Join a sports car club: If you’re a member of a recognised sports car club, you may be able to get insurance discounts from some providers

How can I save money on my sports car insurance as a young driver?

Driving a sports car as a young person is likely to be expensive, as you won’t have years of experience on the road. Driving a powerful car can make insurers nervous over giving you a policy, so often price it prohibitively.

Many drivers aged under 25, opt to build up their experience on the road before deciding to buy a sports car. But if you’re insistent that a sports car is for you, as well as the tips above, there are a few more measures you could look to take.

• Install a black box. Telematics allow insurers to monitor your driving including how often you’re on the road, the time of day, the roads you drive on and your speed, acceleration and braking. As a young driver, you may find having a black box fitted brings down premiums
• Add a named driver: A young person driving a sports car could add a named driver – an older and more experienced driver of the same car – to the policy to try to bring down costs. To avoid invalidating your insurance and breaking the law, the main driver of the car must always be the person indicated as the main driver on the policy
• Take an advanced driving course. Further qualifications to show your safe driving habits will go down well with insurers and help keep premiums lower whatever car you decide to drive now or in the future

What are the cheapest sports cars to insure? 

While car insurance groups run from 1-50, sports cars will generally be categorised in a group from 20 upwards. The lower the insurance class, generally the lower the premiums – although other factors such as where you live and past driving experience are always taken into account too. 

Sports cars tend to be in the higher groups because they are more expensive to buy new and have more expensive parts, have a higher horsepower and top speed, and tend to be more alluring to thieves.

Compare sports car insurance quotes

Comparing quotes for sports car insurance is quick and easy with MoneySuperMarket.

Just tell us a few details about yourself and the car that you’re looking to insure, and we’ll compare policies from our leading panel of lenders to find you the best deal available.

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