f you drive one of the hottest performance vehicles around, you might think that sky high car insurance is just par for the course. However, if you’re savvy in your approach to supercar insurance you can actually secure an affordable deal.

Why does it cost more to insure a supercar ?

Supercars certainly look good, their drivers often take good care of them and they are usually kept in fantastic condition – so why do they cost more to insure?


The answer is straightforward – they have higher values. If you were to write off the latest Ferrari model it would obviously cost a lot more for an insurer to replace than a Ford Fiesta or a Volkswagen Polo. Similarly, even partial damage to supercars is more expensive to repair because their parts are more expensive.

In addition, supercars have more powerful engines and in the minds of insurers, this means they are more likely to be driven at fast speeds. This carries obvious dangers as it increases the likelihood of an accident occurring.

Finally, supercars are also more desirable to thieves and they are often the target of envious vandals. All of this adds up to make them more expensive to insure.

So what can be done about these added costs?

Just because you won’t get the same quote for a supercar as you would for a general run-around it doesn’t mean you should give up on finding a decent price. Your first step should be to use a comparison website to compare quotes from as many insurers as you can as quickly as possible – that will give you a more complete overview of the market.

Make sure you consider the specialist car insurers too. Several companies actually specialise in offering supercar insurance believing that their drivers are more likely to take care of their vehicles and so they deserve more competitive premiums. They may also offer specialist policy features such as:

    Annual mileage discounts: Very often supercars are secondary vehicles in the household with most owners having a less powerful car for general run-arounds. As such, agreeing to a mileage cap may be beneficial.
    Agreed valuations: Imagine if your supercar were written off or stolen and then massively undervalued by an insurer leaving you out of pocket? With many specialist insurers, this concern can be a thing of the past as they offer guaranteed agreed valuations so you know from the outset what your vehicle is worth in case the worst happens.
    Track cover: Specialist cover for your supercar in case you plan to race it on a track or in a rally.
    Advanced driver discounts: You may earn a reduced premium if you undertake an advanced driving course to prove you can handle such a powerful vehicle.

    Owners’ club or manufacturer’s club discounts: Joining a car club could earn you a discount as it shows the insurer you are interested in learning more about your supercar and taking good care of it.


So are specialists always the cheapest ?

High performance car insurance specialists may offer policies tailored towards super car drivers but that doesn’t mean they are necessarily the cheapest.

On the contrary, you should still compare quotes with a comparison website to get an overview of the deals available. You may find that a regular insurer offers cover features not available with the specialists or that its prices are cheaper. Most comparison websites will include some specialists in their listings.

Further ways to save


Remember that whether you drive a Porsche or a Panda, car insurance quotes are determined by the level of risk you are deemed to pose to an insurer. Lowering this risk will lower your premiums – here are some tips:

    Drive safely: You can build up a no-claims bonus by avoiding accidents and convictions.
    Invest in security: Look for insurer approved alarms, immobilisers and tracking devices to reduce the risk of theft.

    Park safely: Keep your supercar in a locked garage overnight away from prying thieves.

    Increase your excess: Consider raising your voluntary excess to lower premiums.

    Pay annually: You can avoid interest charges by paying premiums upfront.