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Annual UK sports car insurance typically costs between £700 to £5,000 or more, depending on the specific car, driver age/experience, mileage, location and other risk factors. High-end models like Ferraris are more expensive to insure than entry-level vehicles. However, there are still ways you can get cheaper car insurance for your beloved speedster.
Factors that increase sports car insurance premiums include:
Key factors impacting costs include:
Young, inexperienced drivers pay extremely high premiums for sports car policies. Rates decrease with age if you maintain a clean driving history.
More expensive, 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.
Occasional recreational usage is cheaper to insure than daily driving.
Urban areas, high crime locations and on-street parking have higher insurance rates than rural areas with secure storage.
The key is shopping around, reducing risk factors under your control and finding insurers that specialise in covering high-performance vehicles. While still expensive, if you follow these steps, sports car ownership can become more viable.
High-performance coupes and convertibles from brands such as Porsche, Ferrari, Lamborghini, McLaren, Lotus and Aston Martin are classified as sports cars by insurers.
Sports car insurance is more expensive due to the high value of the cars, their powerful engines, increased accident and theft risk and their attraction to younger drivers.
Yes, insurers offer discounts for things like multi-car policies, experienced drivers, limited mileage agreements, advanced security features, good driving records and a history of no claims.
Yes, you may get discounts for having an approved alarm, immobiliser and GPS tracking device for high-value sports models.
More affordable sports coupes such as the Toyota GT86, Mazda MX-5 and basic models of the BMW Z4, Audi TT and Porsche Boxster tend to have lower insurance premiums.
Lower premiums by accepting higher excess, adding experienced drivers, limiting annual mileage, improving security, choosing base models, maintaining a clean licence, earning a multi-year no-claim bonus and shopping around extensively.
