Insuring performance cars without breaking the bank

Owning a performance car is a dream come true for many automobile enthusiasts. However, along with the thrill comes a set of unique challenges, one of which is securing adequate insurance coverage. Performance car insurance is known for its high premiums due to the increased risks associated with these powerful vehicles. Let’s delve into the risks tied to performance car insurance and explore effective strategies to reduce insurance premium costs.


Performance cars are built for speed, agility, and power, which inherently lead to higher risks on the road. These risks are reflected in the insurance premiums. Some of the primary risks associated with performance car insurance include:

  • Increased accident potential: Performance cars are designed for speed and quick acceleration, which can increase the likelihood of accidents.

  • Costly repairs: High-performance vehicles often come with intricate and specialized components that are expensive to repair or replace.

  • Theft and vandalism: These cars are more attractive to thieves and vandals due to their value and desirability, leading to higher rates of claims.

  • Aggressive driving: The very nature of performance cars might encourage owners to engage in more aggressive driving behaviors, which generates an additional level of risk.


While the risks associated with performance car insurance are undeniable, there are several proactive measures you can take to reduce your insurance premium costs without compromising on coverage.

  • Elect higher deductibles. By opting for a higher deductible, you can lower your monthly premium. This strategy can save you money in the long run while also encouraging responsible driving to avoid unnecessary claims.

  • Maintain a clean driving record: Safe driving is always rewarded with lower insurance premiums. Avoiding accidents and traffic violations can build a history of responsible driving, which insurance companies value.

  • Install anti-theft measures: Outfitting your performance car with advanced anti-theft devices and tracking systems can lower the risk of theft and potentially reduce your premium.

  • Take defensive driving class: Completing a recognized defensive driving course can showcase your commitment to safe driving habits.

  • Limit mileage: If you're not using your performance car for daily commuting, consider limiting your mileage. Some insurers offer lower rates to drivers who drive less frequently.

  • Join a car club: Certain car clubs and associations have partnerships with insurance companies, which may offer members exclusive discounts.

Owning a performance car doesn't have to break the bank when it comes to insurance premiums. By understanding the risks and taking proactive steps, you can enjoy the thrills of your high-performance vehicle without the less-than-thrilling burden of steep insurance premiums.

At Lockton, our goal is to help you reduce your risk exposures on the front end and streamline any claims you might have on the back end. If you’re thinking of purchasing a performance car, or already own a collection, talk to your Lockton account team about way to better control these expenses.