Premiums double for sporty models
Britons with a taste for flash cars are paying dearly for their pleasures, according to swiftcover.com.
The online insurer reckons premiums are around twice that for standard models from the same manufacturer.
For example, a 30-year-old male with five years’ no claims discount can expect to pay £1,000 to insure a VW Golf GTi, whereas the Golf S demands a typical premium of under £500 for the same driver.
Swiftcover points out that those tempted by sports models are unlikely to enjoy the extra performance during day-to-day driving but at the same time will face higher premiums because their vehicles are more likely to be involved in accidents, cost more to repair and are of particular interest to thieves.
The firm’s marketing director, Tina Shortle, comments: “It might be great to own the latest ‘hot-hatch’, but even motorists with perfect driving histories are paying over the odds for cars with a few more brake horsepower and spoilers to make them look sporty.”
She adds: “If they want to save money, drivers shouldn’t be ruled by their hearts and instead should think about the real cost … the money you save could be used to enjoy life in other ways.”
In January, swiftcover.com was named the UK’s best “Value for Money” car insurer by visitors to Lovemoney.com.
The website’s insurance buyers vote in the winner and according to Ms Shortle, the accolade is “particularly special” because consumers have the last say.
Category: Car Insurance News, Insurance News
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