If you’re looking for a car that offers a thrilling driving experience, then a sports car model is definitely a car to consider.
Although sports are known for their high performance and speed, they often come with higher insurance costs.
We’ve put together this short guide to help you better understand what it’s like to own a sports car and all you need to know about insuring it.
What to look for in a sports car or performance car insurance policy
At Admiral, we don’t offer car insurance specifically tailored to sports cars, though our car insurance can cover sports cars.
While there’s nothing specific you need to look for in an insurance policy on a sports car, it’s always a good idea to read the policy wording in advance, especially if you have anything specific you want covered.
For instance, you might want to be sure you’re covered for things like vandalism or malicious damage to the tyres, paintwork or (on a cabriolet) the fabric roof.
Even if you’ve found a policy that covers every scenario you can imagine, you must fully disclose all your car’s details to make sure your claim isn’t refused. Depending on the insurer, this may include any optional extras or other modifications made to change the way the car looks or drives.
What qualifies as a sports car?
We define sports cars as performance cars like coupes, roadsters and GTs.
Your car may still be considered a sports car even if it doesn’t fall into one of these categories.
Traditional sports cars are designed to be lightweight, compact and aerodynamic, but this usually means a cramped interior and little or no luggage space.
So, over the years, and with changing attitudes towards what ‘sporty’ means, we’ve seen more sports cars on the road that are both practical and spacious to drive. For example, the hot hatchback (as defined by the iconic VW Golf GTI), the sports saloon (think BMW M5) and the performance SUV (such as the Porsche Cayenne).
Why is insurance on sports cars more expensive?
Every new car is placed into an insurance group based on the risk associated with it. This risk is calculated using statistics on past claims on similar cars. We also consider how likely you are to make a claim and how much it could cost to put right if you do.
When it comes to sports cars, the first (and perhaps most obvious) thing insurers look at is their performance. Many sports cars have engines that give rapid acceleration and higher top speeds compared to your standard cars.
Sports cars are designed with similar driving characteristics to racing cars, but with responsive handling and powerful brakes. These factors increase your likelihood of being involved in an accident.
They’re also often more expensive to repair or replace because of their high sale prices or because of their specialised parts. They may be more tempting for thieves to steal, making a theft claim more likely.
What are the cheapest sports cars to insure?
We've made a list of the 8 sports cars with the lowest average Admiral insurance premium between 1 July 2023 and 30 June 2024. The age, driving history and no-claims bonus of the car owner can affect these figures.
You should also note that, to calculate these figures, only models on which at least 300 policies have been taken out in the stated timeframe have been included.
- BMW Z3: £675.50
- Porsche Boxster: £698.93
- Toyota MR2: £847.88
- Porsche Cayman: £855.26
- Mazda MX-5: £897.31
- Porsche 911: £944.99
- Nissan GT-R: £1,040.46
- Toyota Celica: £1,092.22
How to reduce the cost of sports car insurance
If you do have a sports car to insure, there are things you can do to reduce the cost of insuring it.
Drive within the law
Fixed penalties and points on your licence can increase your premiums.
Build up your no-claims bonus
This applies regardless of your car type. With Admiral, you can save money on your insurance premium by building your no-claims bonus to the maximum 15 years. There’s no limit on how much your bonus can be, but the bonus will not increase after 15 years.
The terms around your no-claims bonus may be different if you’re with another insurer.
Drive fewer miles
Using your sports car as an alternative vehicle at weekends can keep the premium cost low.
Choose a less exotic model
Well-known or more established brands are often cheaper because parts are easier to replace.
Fit a tracking device
A device to track where your car is can help police and insurers to recover your car if it’s stolen.
Consider an Admiral MultiCar or MultiCover policy
If you have more than one car or want to insure both your car and home, you could save on your insurance with a MultiCover policy.
Learn more about this on our MultiCover page.
Resist modifications
Factory-fit optional extras are fine, but any after-market modifications can push up your premiums, depending on who you’re insured with.
Minimise the number and type of drivers
Insurers can and often do refuse to insure young and inexperienced drivers on performance cars because their chances of being in an accident are higher.
Consider an Admiral LittleBox policy
Eligible drivers could save by choosing a black box policy with Admiral LittleBox. LittleBox fits a ‘black box’ tracking device to monitor your driving style and reward safe drivers with discounts.
If a black box policy sounds a bit ‘Big Brother’ to you, then don’t worry, we’ve answered a few of the more common questions to help put your mind at rest.
