Why Sports Cars Cost More To Insure

Have you ever wondered why sports cars cost more to insure than other types of car – even when the purchase price of the sports car is less expensive?  If so, the following are the main reasons why this is the case.

Car Insurance Group Categories

While many of the factors that determine the make-up of car insurance quotes are not known, what is known is that insurance companies ‘group’ certain types of cars into categories.  For this purposes, insurance companies have groups ranging from 1 through to 20.  Group 1 is the least expensive type of car to insure.  Group 20 is the most expensive type of car to insure.  So, if you buy a Fiat Panda, you’ll be classed a Group 1 car driver.  Buy a sports car, any sports car, and you are looking at being classed a Group 15 and above driver.  Buy a performance sports car, such as a Porsche 911, and you’ll definitely be Group 20 driver!

Theft

Over 2 million car crimes happen in the UK each and every year.  Aside from popular model cars, such a Ford, the biggest car crime category is sports cars!  Have a soft-top convertible sports car, and the chances of it being stolen are red hot!  So, even if you live out in the countryside with no one else around for miles, you will still be seen as driving an extremely high risk car when it comes to car theft.  With increased risk, comes an increased premium!

Accidents

Insurance companies are not charities – they’re in the business to make money.  As such, they keep vast amounts of data and part of that data tells them that if you drive a sports car there is an increased risk you’ll be in an accident and that the accident will be more serious (and costly) than if you were driving a regular car.  As such, the premium charge is going to be higher.

Under 30?

Unless you have just won the Lottery, if you are under 30 there are no appealing factors when it comes to insuring a sports car.  Not only do the insurance company see the car you drive as being a high risk car to insure, but you as the driver are far more risky to insure as well.  Consequently, car insurance premiums for those 30 years of age or under, driving sports cars, is probably the highest of all types of car insurance available in the UK today.

About Winter Sports Travel Insurance

As the days grow shorter and summer becomes a memory, many of us will be turning our thoughts towards planning a winter vacation, especially one involving winter sports such as skiing. Travel insurance is an often overlooked part of holiday planning, but if you plan on taking part in sporting activites then it really is essential.

A normal travel insurance policy will probably not be up to the standard you need for winter sports, and if things go wrong you could be left facing a huge bill. So what features should you be looking for in a policy?

- Injury Cover

No matter how accomplished a skiier you are, hurtling down a mountain is always going to be more risky than simply lying on a beach working on a tan. And if you do have an accident, a mountainside isn't the easiest place for medical services to reach. If you're unlucky enough to need a mountain rescue or airlift to hospital, you'll be facing a bill running into the thousands even before you get medical attention. This sort of expense is likely to be specifically excluded on a standard insurance policy, but will be an integral part of almost any winter sports cover.

- Equipment

Most winter sports require expensive equipment, and where there are valuables there's always the chance of theft. Your insurance should provide enough cover to fully replace your equipment with brand new items if necessary, right there at the resort. Even if you plan to hire your equipment, the hire company will probably require insurance - and your own policy is likely to be cheaper than the standard one they'll try to sell you.

- Liability

Even the best skiiers or snowboarders can be involved in an accident in which someone else gets injured. Whether or not an accident is your fault, you could end up being taken to court and this is usually a long and expensive process. A decent insurance policy will cover costs from any legal proceedings and / or compensation payments.

- Closure of Piste

If bad weather (or warm weather!) means that the pistes are closed and you can't ski, your policy should pay you compensation to cover the costs of any pre-booked lessons or lift fees, and many will even include a payment simply to cover the inconvenience of not being able to ski.

- Off Piste

A final point to note is that a standard winter sports policy will probably only cover you for accidents that occur when skiing on designated pistes. If you plan to go off-piste, then make sure your insurance will cover this - you'll probably have to pay a supplement.

As with most kinds of insurance, paying out for travel insurance can seem like a waste of money. However, if you find yourself caught up in an accident on the mountainside then the costs involved can be truly frightening and you'll be glad you took the time to arrange adequate cover in advance!