Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Reviewed by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Apr 14, 2022

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In a nutshell...

  • Many cars that use the nation’s highways every day are classified as performance cars
  • Performance cars have a special status with insurance companies and policies for these cars are often expensive
  • Owners of performance cars who make use of car insurance comparison shopping websites can save big on their car insurance bills

Of the many millions of cars that regularly use the roads of the nation, a small portion of these vehicles can be classified as high-performance. These vehicles tend to be fast and maneuverable, characteristics that can make them fun to drive.

These same characteristics are often considered to be risk factors that can end up costing unsuspecting drivers a lot of cash when the time comes to buy insurance coverage.

Luckily, there are some good ways for savvy drivers of performance cars to find the best in coverage without breaking the bank.

This article will look at some of the special insurance-related challenges that face owners of performance cars, and will also look at how car insurance comparison shopping can reap big benefits.

Enter your zip code above to compare car insurance rates today.

Car Insurance Considerations for Performance Cars


Performance cars can be described as vehicles that are specifically built for the following:

  • Speed
  • Power
  • Performance
  • Superior handling

Many famous car makers that include Mercedes, BMW, Ferrari, and others produce iconic performance vehicles. Many other performance cars are basically regular cars that are modified at home by their owners.

This distinction is important to understand because a factory-built performance car may actually be cheaper to insure than a vehicle that has been modified by its owner.

This difference in cost is partially due to the fact that many of the component parts of homemade performance cars may actually cost more than the vehicle that they are installed in.

Knowing that such parts can be expensive to replace in the event of an accident, many car insurance companies charge owners of do-it-yourself hot rods exorbitant amounts for their car insurance coverage.

While some performance car owners try to save money by attempting to hide any modifications, this deception is a bad idea.

If such drivers get into car accidents and it is discovered that they were less than honest about their vehicles, their insurance policies can be discontinued, leaving such drivers with large vehicle and possibly medical bills.

Another consideration for owners of performance cars is special exclusions. These exclusions can be defined as situations that can preclude coverage for insured vehicles. Racing and track exclusions are an example.

Owners of performance cars who have racing exclusions on their policies should be aware that their vehicles will not be covered if said vehicles are damaged while racing or operating on a racetrack.

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Insurance companies also charge more to cover performance vehicles because they are statistically more likely to be stolen or to be driven well over speed limits.

When the various costs associated with performance cars are added up, many drivers may find the overall costs to be too much.

The good news is, there are some good ways for performance car owners to save money on their insurance bills. One method is actually a creation of the car insurance industry and is called usage-based insurance (UBI).

UBI makes use of vehicle monitoring technologies that are known as telematics to keep track of the on-road behaviors of drivers.

For example, a telematic tool may register how fast a car is moving, how forcefully the brakes are used, and how many miles are driven on average.

Insurance firms use the data gleaned from telematic tools to closely tailor the rates charged to a given customer.

Since many owners of performance cars are wrongly assumed to be reckless drivers, this new technological development actually has the potential to lower insurance costs for responsible drivers.

Owners of performance cars can save a lot of money by using the services of car insurance comparison shopping websites. These websites collate information about a large number of car insurance providers and then provide their clients with this information.

This approach can and often does save car insurance shoppers a lot of time and money.

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Car Insurance Coverage Options for Drivers of Performance Cars

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If you won a performance car, you should consider purchasing the following supplemental coverages as they will further protect your investment:

  • Comprehensive CoverageComprehensive coverage pays for the repair of non-collision vehicular damage and having adequate levels of this insurance item can save owners of performance vehicles a lot of money.
  • Customized Equipment Coverage Endorsements – Performance vehicles often include many specialized modifications that enable them to do what they do. These modifications can include options like custom exhausts, custom wheels, specialized stabilization bars, and custom suspensions.
  • Towing Coverage – By carrying towing coverage, drivers of performance cars can at least rest assured that if their cars are damaged while being towed, the tow company in question will be held fully responsible for any additional damages.
  • Theft Coverage – High-performance luxury cars are highly valuable to car thieves. Because of this unfortunate fact, owners of performance cars owe it to themselves to carry adequate levels of theft coverage on their policies.

Performance Cars Need Adequate and Affordable Insurance Coverage

Performance cars are to driving what dessert is to dinner. They can provide many hours of exhilarating performance for their owners, and provide a valuable outlet for people who like speed.

These cars often need greater coverage and protection, but drivers who make use of car insurance comparison shopping websites can count on finding greater coverage and protection for lower prices.

Enter your zip code right here to begin comparing right now.