Generally speaking, the most affordable vehicles to insure are small city cars, which are most often classified in the single-figure insurance groups. However, some people prefer to drive around in a sporty super-mini, sleek coupe, or other sporty three-door model vehicle. While some of the more sporty model cars fall in the higher figure insurance groups, there are some that do not cost as much as others to insure. If you’re thinking ‘it’s time to sell my car fast’ and upgrade to a sports car, let us help you out. The car insurance groups mentioned are set by the Group Rating Panel (members of the Association of British Insurers and the Lloyds Market Association). Every vehicle on the market is given a classification figure that relates to one of the fifty (50) car insurance groups set by the Panel. It is important to understand insurers can also utilise their own grouping system.
Typically, the lower the insurance group number of the car, the less expensive it is to insure. This means a car classified in group 1 would be the cheapest to insure, while a vehicle classified in group 50 would be the most expensive to insure. There are several factors that are considered when deciding how cars are assigned to these groups, including repair costs, cost of parts, the value of the car, the performance of the car, and car security.
When it comes to the cost of insuring high performance vehicles it is the make and the model that has a huge influence upon the insurance premiums. Consider the following example in which the manufacturers Porsche and Mercedes-Benz has at least ten and twenty-two different models respectively that are classified in the car insurance group 50. There are other models listed below that have insurance groupings that are much more affordable, but there are additional ways to decrease the cost of cover even when driving a sports car.
One of the ways to get cheaper insurance premiums is to increase the car’s security by fitting it with an immobiliser or tracking device or both. Many insurers will apply a discount to the policy for added security, even including keeping the vehicle away from public roads in a safe place. Another way to get cheaper cover is to limit the number of miles the car is driven. This lowers the risk potential for the insurer since it is not being driven as often. Sometimes adding another driver to the insurance policy can reduce the cost of insurance for a sport or performance car, but the person would need to be an experienced driver with a safe, clean driving record. Below are some examples of some sport vehicles in moderate to low insurance groups.
– Vauxhall Astra GTC 1.4t Sport 120
– Honda CR-Z 1.6 IMA S
– MINI Coupe 1.6T Cooper
– Volkswagen Scirroco 1.4TSI 122
– Peugeot RCZ 1.6 THP 156 GT
– Audi A5 Coupe 2.0TDI 177 SE
– BMW M135i Automatic
– Ford Fiesta ST
– SEAT Leon Cupra
– Ford Focus ST
– Nissan 370Z Coupe
– Skoda Octavia vRS