Why do higher powered cars cost more to insure?

Insurance Revolution Running costs , Blog , High powered cars , Powerful cars

Insurance plays a major part in determining the overall cost of car ownership. In fact, your car insurance premium accounts for around 11 percent of the net ownership cost , say for over 5 years. Various factors rule when it comes to deciding the insurance premium and one of them is surely the horsepower of your dream steam. Higher is horsepower, more will be the insurance rate. The post below explains why higher powered cars command more insurance rates followed by a brief on how you can save here.

Bigger power, higher speed

This is one of the most important reasons why higher powered cars cost more to insure. More horsepower signifies increased speed which in turn accelerates the chances of rushing at faster pace than average. Needless to mention, faster pace piques the threats of accidents by a great extent and hence the insurers will generally tag you as a costly client here. No wonder, a 4-cylinder vehicle with somewhat moderate engine would cost lesser to insure compared to a 6 or 8 cylinder vehicle.

More risks of accident

This point is in conjunction with the first point mentioned here. High powered vehicles generally counter more number of crashes compared to the low-powered counterparts. The basic reason here is the mindblowing speed which these cars assure and you are always up for a rush when you have the steering of a fancy sporty steam. Cravings for thrill from jet-speed driving often imbalances the control leading to major accidents on road- that in turn heightens the chances of insurance claims.

Moreover, the high-powered vehicles are usually the prized possessions and are saved just for weekends or special trips. These are not taken out regularly as primary household cars and hence it takes time for the driver to settle with the flashy car’s typical driving conditions. Now, when you take up a high speed on a steering that you are not-so-familiar with, it’s possible to lose out on control.

Bigger Damage

The damage caused by a higher power car is always more compared to that resulted from a regular vehicle with moderate horsepower. This is because, higher horsepower means larger force which leads to bigger blows for the 3rd party car or the passengers in it. According to market reports, the damage or injury claims made by accidents from high power cars are 22& costlier in comparison to damage claims from regular cars.


The high horsepower cars are some of the flashiest models on road and hence attract undue attention. These flamboyant vehicles are a favourite of the thefts and burglars which make them costlier options for the insurance providers.

High repair costs

The high powered cars carry parts of higher specifications and hence repairs are always more expensive here. Moreover, it calls for special labour attention when you have to repair a sports car or such premium wheels. All these together make the high power cars a pricey option for the insurance providers and hence they are always looking to place higher premiums on cars with greater horsepower.

However, don’t let the higher insurance costs debar you from enjoying your dream ride on a higher powered sports steam- also it doesn’t imply that you have to skip out on the insurance part here. The insurance cover is a much-needed safeguard to ensure the best experience with your great wheels. The good news is that there are a number of ways by which you can somewhat lower down the insurance premium here.

Tips on saving on high powered car insurance

Secure your car

As mentioned earlier, higher risks of theft plays a crucial role in upping the insurance costs on high powered vehicles. Thus, strong security measures from your side that can reduce theft attempts on the vehicle would somewhat relieve the insurance providers- and they would be happy to lower down the premium rate. You can power up the car with theft alarms or immobilizers. Car GPS trackers that can notify about the exact location of the car in real-time would be handy in tracing the vehicle in case it’s stolen. The point is especially important if you are staying in a theft-prone neighbourhood.

Moreover, the security of your car is also dependent on how you store the car. A car left out all night on the road would definitely fetch higher insurance rates than a car garaged in an enclosed & bolted location.

Reduced mileage

This is another important tip when you looking to save on the high insurance costs on you high powered car. More your mileage is, higher would be the risks of accidents and consequently the claims. Thus, the insurance companies take a close look at the mileage of the car before deciding on the insurance rate. It’s advisable to maintain a low limit on annual mileage specifications as you choose an insurance policy and try to stick to it to enjoy lower insurance rates throughout. However, if you need to breach the limit ever, don’t forget to inform your insurer.

Add a seasoned driver

The age of the driver is a big criterion when it comes to deciding the insurance and more so when it’s regarding high powered cars. The insurance providers generally consider the young drivers as reckless and the amazing thrill offered by the high paced sports cars make them even costlier for the insurers. Thus, they usually impose elevated rates if a young driver is in charge of a high powered car. But you can reduce the rate here by adding in the name of another driver who is matured and seasoned to the policy. This way, it will convey the message that the car is somewhat in safe hands which will lead to lower rates.

Driving education and clean record

To ensure your credibility as a driver, you must take safe defensive driving courses that will establish your competence and knowledge on road. Also, it is advised to maintain a clear driving record to prove yourself as a controlled, knowledgeable and level-headed driver. A poor driving record will any day hike up the chances of higher insurance rates, posing you as an unsafe driver.

Finally, make sure to take a comparative survey while choosing your insurance provider.

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