• How to Get Performance Car Insurance

    Performance car insurance policies are necessary tools for speed-demons and their machines. High performance cars with capacities of reaching remarkably high speeds are no longer just luxuries of the affluent society. Consequently, insurers no longer deem these cars risky or make the premium payment a toll on your pocket. Even though cars with higher levels of acceleration and speed are considered to be more prone to accidents, performance car insurance policies are generally reasonable.

    The parameters that decide the insurance premium associated with a vehicle are the specifications of the vehicle and your past driving records. Fortunately, there are a lot of companies which offer insurance policies for performance vehicles. Though the premium associated with performance cars are more expensive than standard cars, below are the steps to be followed in case you want to apply for a performance car insurance.

    Steps Associated with Getting Performance Car Insurance

    • Before the purchase, it is important to assess whether the vehicle you are considering falls under the standard vehicle category or the performance vehicle category. Modified vehicles that have their own specifications also fall under performance car insurance policies. For information in this regard, it is advised to contact insurance companies directly.
    • In the event of your car falling under the performance car category, you should search the Internet for different insurance companies that offer performance car insurance. Getting as many quotes from the Internet as possible is advisable for a wide range of options.
    • Consulting the vehicle’s dealership for information on good insurance companies would help in this regard. Further, incorporation of safety features like theft alarm can lead to lower premium costs. The premium cost also depends on the number of approved security devices and the repairability of the vehicle.
    • You will be asked to fill out application forms requiring information on the driver and their past driving records, along with the vehicle, its technical specification and the manufacturer details. The amount towards the monthly premium will be calculated based on different parameters like the power capacity of the vehicle and the make and year of manufacture.

    Reducing the Cost of Premium

    It has to be understood that sports cars and performance cars like Porsche and Mercedes may require higher premiums to be paid towards the insurance. Insurance companies tend to consider your age and your driving experience; young drivers are charged more. Approved security devices like theft alarms, tracking devices and immobilizers reduce the insurance premium considerably. There are some insurance companies which will not insure high performance cars if their security is under question. Securing cars by placing them in garages prove to be an element of reducing premium costs associated with the cars.

    Finally, before approaching an insurance company for performance insurance, it is advisable to make sure that they are performance insurance specialists which can increase your chances of getting a good deal on the insurance, rather than going to a regular non-specialist insurance company which is likely to charge you more for performance insurance.