The sports car owner needs speed when insuring his vehicle!!

Earlier today a friend sent a link to the Arrive Alive website about a Lamborghini found on its roof on De Waal Drive in Cape Town. It is believed to be images of a Murcielago – a vehicle estimated at a value of R5.5m.

During the past few years of development of the Arrive Alive website I have been a frequent recipient of photos from horrific car crashes – and the most circulated are often those of brand new sports cars!

We are all fascinated by sports cars – perhaps because they are beyond our own limited financial budgets – or only owned by the celebs we idolize….

It is common knowledge that sports cars are very expensive to insure – not only on account of the significant amount of money needed to repair and replace – but also because the stronger engines allows for more speed and therefore presents a much higher accident risk…

On witnessing the accident scene and damage to sports cars we always tend to consider the question “Does the sports car owner have the necessary insurance?” In this post we would like to consider a few of the aspects to be considered when insuring a sports car. With this in mind we will also quote from a previous post on the Car Insurance Blog.

Sports car Insurance

What are the most important aspects to be considered by the sports car owner? We would like to take a closer look at aspects which are most important in calculating the insurance premiums for sports cars:

The sports car owner would not be able to reduce the value of his vehicle and the costs of replacing that vehicle -but there are other suggestions he should consider. We would like to recommend a focus on the following:

The driver of the sports car

The driver is often perceived to be a risky driver with a need for speed. This is especially true if the applicant is a young inexperienced driver. Premiums could be reduced if proven to the car insurer that:

* The driver is more mature and an experienced driver

* The driver has a clean/good accident record with limited traffic violations – Insurance companies offer lower rates to safe drivers.

Driving ability

Sports car insurance premiums could be reduced if:

* The driver has attended advanced driving courses and is able to present the certificates of these courses.

* The driver has no intention to use the car for racing purposes but rather acquired with the purpose to collect and less often to drive long distances.

The sports car

It is important to address those concerns that there might be of expensive repair and replacement in the event of vehicle damage and loss. The vehicle owner should communicate the following:

* That there is an agreement in place with a reputable vehicle repair mechanic, body shop etc to attend to any damage.

* That much attention has been given to safe parking in closed garages with strong security.

* That the vehicle has security features such as car alarm, detachable stereo and steering wheel lock.

* That the vehicle has safety features such as safety airbags, antilock and stability traction controls

The Process of finding affordable sports car insurance

There is no need to duplicate all the information on finding cheaper car insurance. We would however like to briefly refer to a few basic suggestions discussed elsewhere on this blog:

* Shop around the internet for insurance rates – There might be many specialist suppliers of insurance which cater to this section of the market

* Compare the different deals and offers car insurance companies are offering.

* Sports vehicle owners should try to always make sure that they give the most accurate and correct information when applying for better rates.

* Sports car owners need to update their policies and their information on a regular basis.

The best advice to finding affordable sports car insurance is something rather simple – communicate and consult!! You are not alone – there are many other sports car owners in need of insurance for their sports cars and who have walked this path before you. Ask the dealers and other sport car owners with whom they insure their vehicles and why. Ask them for feedback, their consumer experience and of any pitfalls you should be aware of!!


We always refer to the risks of speed – speed however is important to those considering who consider buying a sport car. Don’t start to consider insurance once you have bought the vehicle!

You will need a speedy approach to car insurance  – the moment you climb behind the wheel of a sports car you need to consider whether the vehicle is insured. Do not turn the ignition if you are not insured!!

[Photo of burning Ferrari taken by Lei Han]

A unwanted pole postition for a Ferrari owner

3 thoughts on “The sports car owner needs speed when insuring his vehicle!!

  • May 5, 2011 at 5:31 pm

    Hi there! Would you mind if I share your blog with my facebook group? There’s a lot of people that I think would really appreciate your content. Please let me know. Thank you

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