[e-nsp] Fred and Kristen Adelman, Why Sports Cars Cost More To Insure

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Fred and Kristen Adelman, 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.
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