Friday, 23 March 2012 2:06 PM
So, you've got a sports car, it's your pride and joy and now you want to insure it – but where do you start? Firstly, don't make the mistake of thinking a standard policy is the best way to go, there are a host of benefits to choosing specialist cover.
Here are just five things to think about before signing on the dotted line.
Specialist or standard?
Of course, it's possible to insure your sports car with a standard policy, but you need to be absolutely certain that it really will protect you financially if anything should happen to your vehicle. Among the benefits of using a specialist firm are that you can agree on the value of your motor when you set up the policy, so you'll know exactly what size payout to expect, as well as receiving fully comprehensive cover for your car.
Given the value of most sports vehicles, choosing a third-party policy isn't really advisable. You've got to ask yourself, if you can't afford adequate insurance for the car you want, should you really be buying it in the first place?
How often will you use it?
Providing your insurer with an accurate idea of how many miles you'll drive in your car each year is one of the simplest ways to reduce the cost of sports car insurance. After all, you're likely to be saving your special motor for sunny days on country lanes, not using it day in, day out to make your commute!
Make sure the provider you choose is aware that you won't be using your vehicle on a daily basis and calculate your estimated mileage accordingly. Think about it logically – the less time you're on the road, the less likely you are to have an accident and, therefore, the less your policy should cost.
If you're lucky enough to own a high-performance sports car, you might not feel as though the British roads are quite enough to put it through its paces. In which case, you may be planning to take your vehicle on track days so you can really put your foot to the floor and feel it go.
That's totally fine – and an excellent way to get lots of enjoyment out of your car – but check the insurance policy you pick will cover you for any accidents that occur while at the racetrack. Specialist insurers are aware that their customers like to test the speed and power of their vehicles, so this type of protection will normally be included in the policy.
While you might not use your sports car every day, you may be keen to head over to the continent and test its handling on winding mountain roads in Italy or the long autobahns in Germany. Motoring holidays are a fantastic opportunity to really enjoy your vehicle, but it's important to have insurance that protects you outside the UK. This is where specialist providers can, once again, come out on top. They truly do understand their customers' needs and you'll find foreign trips, usually of up to 90 days each, are covered as part of a standard policy.
While we hate to think about anything happening to our cars, all too often accidents happen, whether they're our fault or not. So, it's best to be prepared for the fact that you might need to send your pride and joy off to be repaired.
Although you probably aren't overly bothered which garage fixes up your normal motor, this is likely to be a different story when it comes to your sports car. If possible, select a policy that allows you to choose the garage it's sent to. Do find out whether there are any incentives to using mechanics recommended by your insurer, though. In some cases the work done on your vehicle can be guaranteed for up to three years, giving you additional peace of mind and protection from unnecessary repair bills.