Find yourself a decent performance car insurance quote today and protect your investment. Car insurance is no joking matter, especially if it’s for your pride and joy.
If you have ever been involved in an accident, had a minor knock, a major knock, had your car vandalised, broken into or even stolen, then you know it’s no joke when it comes to getting the right cover. Not to mention, that heaven forbid you cause an accident and need to compensate the other person for damages to their car or person.
Most people will tend to go with the cheapest quote they can find, with a reasonable excess. But in any case, if you’ve got a performance car, you’ll need to find a performance car insurance policy that covers all your needs and at the right price.
Assuming you know what car you’re getting, you should know what insurance group your car is. They generally go from 1 – 50, 50 being the highest. Be sensible here, if you’re 18 years old and think you can go and buy a Supra Twin Turbo and insure it, be warned it’s not going to be cheap or it may not even be possible to get insured for it at all. Although some specialist performance car insurance companies will cater for all sorts of people and age groups.
G = Import – Insurance Group Ratings and security ratings are currently only allocated to vehicles built for the UK market.
These and other information can be found on the Thatcham Website! (opens new window) – have a look around, it’s full of excellent info, including security data on individual vehicles.
Third party – the minimum, covers damage/loss to the other person, but not you.
Third party, fire and theft – As above plus you’re covered if your car is stolen or damaged by fire.
Comprehensive – As above plus covers damage/loss to your car for up to its insured value.
Have you made a claim within the last 5 years?
Do you have any convictions or endorsements?
What excess is there and on what?
What claim limits are there?
Will you be able to drive your car abroad?
All cars subject to these categories must be disclosed by the seller of the vehicle. You must also tell your insurance company that you have/intend to purchase a previously written off vehicle, as they may not insure you or may not pay out in the event of an accident.
Cat A: These vehicles are unrepairable and are to be crushed and not put back on the road. Also no parts from these vehicles should be used for spares.
Cat B: These vehicles are unrepairable and again should never to be allowed back on the road. Some parts can be used for spares.
Cat C: These vehicles are repairable, however they have had significant damage for the insurance company not to deem them worth repairing (normally the parts and labour needed to repair them exceeds the value of the vehicle). However some are bought off the insurance company and repaired. Vehicles that are given a Cat C must have a VIC (vehicle identity check) test to check it’s identity and to get a new registration document. They will be marked with their catagory on the V5 document, until repaired and the new registration document is applied for. A record will still be kept by DVLA of it’s Cat C and will show up on a HPI check. Ensure any repair has been properly carried out by a decent garage and with good parts. Pay much less for this vehicle as you will also lose out when coming to sell it.
Cat D: These vehicles are repairable, but were considered not finacially viable by the insurance company (this may simply be because parts are not easily available and the cost of a hire car while waiting for that part may be beyond the value of the car). May also apply to minor damaged stolen/recoverd vehicles. Again ensure they have been repaired properly and with good parts and by a decent garage. Pay less for this vehicle as you will also lose out when coming to sell it.
Cat F: These vehicles are fire damaged and also deemed not worth repairing by the insurance company, but have been repaired and put back on the road. Again ensure they have been repaired properly and with good parts and by a decent garage. Pay less for this vehicle as you will also lose out when coming to sell it.
Cat X or T: These vehicles are either stolen recovered or have minimal damage and are not recorded. Many have little or no damage, but a settlement may have been made to the owner before the vehicle was found.
Just a quick word about modifications. If you make any modifications to your car you should declare them with your insurance company or you may invalidate your insurance and may not actually be insured. The definition of a modification will vary from company to company to the point were even some insurance companies view a change of car mats to be a modification due to the item not being a standard item fitted at the factory. Some companies even view extra factory options as a modification, so take care and declare them or seek advice from your insurer.
Well we hope this has given you some things to think about and helps you get the right cover at the right price. It’s your pride and joy don’t be left with nothing when things go wrong!