Can You Get Supercar Insurance If You’re Under 25?
With breathtaking speed and elegant design, the allure of owning a supercar or luxury sportscar is undeniable. For drivers under the age of 25, however, finding car insurance for supercars can be a daunting challenge. Our experts here at Prestige Vehicle Insurance are discussing why supercar insurance for under-25s can be so difficult to obtain while also sharing our own tips on obtaining suitable coverage.
The Challenges Of Insuring Supercars For Drivers Under 25
On the face of it, younger drivers may appear the same as any other. Yet from the point of view of vehicle insurers, there are several reasons why they may be more reluctant to provide luxury sportscar insurance to under-25s. We’ve rounded up a few of these reasons below so that you can understand the potential challenges you could face when looking for a policy.
Limited Driving Experience
One of the primary reasons why obtaining supercar insurance under 25 can be difficult is the issue of younger drivers having limited driving experience. Insurance companies often consider age as a risk factor, assuming that younger drivers have had less time behind the wheel and are therefore more prone to accidents.
Technical Difficulty
Supercars are engineered to push the boundaries of performance, both in terms of their cornering and outright speed - and such sophisticated mechanics demands skilled drivers. Finesse is required to understand how these vehicles will perform in different situations, and to know how to hold back on the power when it’s not needed. Again, in insurers’ eyes, this comes down to experience; another reason that may deter insurers from providing younger drivers with high-performance car insurance.
High Value And Expensive Repairs
For the most part, supercars come with a hefty price tag. Insurers must consider the cost of repairing or replacing these high-value vehicles in the event of an accident. Drivers under 25, who may not have established credit histories or significant financial assets, could be seen as a greater financial risk in such scenarios.
Statistical Risk
Statistically, younger drivers have are more likely to engage in risky driving behaviour that leads to accidents. Insurance companies rely on data to assess risk, so these statistics can lead to inflated insurance costs for this age group. Supercars, being high-value vehicles, compound this risk, making it even harder to obtain supercar insurance under 25.
How Young Drivers Can Find Car Insurance For Supercars
Despite the challenges younger drivers can face, it’s not impossible to find luxury sportscar insurance under 25. It is simply a case of knowing where to look.
At Prestige, we’re specialists in providing supercar insurance and look at a number of factors beyond just your age when finding suitable coverage. As a chartered insurance broker, we’re able to work with a wide range of insurance providers around the UK. This ensures we can be able to find an appropriate policy no matter your age or demographic. We have a wealth of experience in providing supercar insurance for under 25s at competitive prices, with further features and benefits including courtesy cars similar to your own in case of fire or theft, private registration plate cover, and more.
Are you a younger driver looking for high-performance car insurance? Get in touch today and speak with our team. Call us on 01202 754900 and we can tailor a quote to your needs. Alternatively, fill out an online quote form and we will get back to you for your supercar insurance.