Would Limiting My Mileage And Who Is Covered Help To Reduce My Performance Car Insurance Premium?

Yes, to both of these ideas.

It stands to reason that if we are prepared to reduce the risk to the car insurance company, they should reciprocate by reducing the premium they demand.

Limiting your mileage, then, is one way, since the fewer miles driven, the less likelihood of something untoward happening that might involve an insurance claim. Agree a mileage in advance with the insurance company and they'll shave a bit off the premium. Between 6,000 and 4,000 miles per annum is considered low by the majority of insurers. If you go over the agree mileage, the insurance company will charge accordingly.

Likewise, restricting who will drive your performance car is going to be a big help too. Anyone under 25 or learner drivers are strictly no-nos so far as cutting insurance costs goes. Policy holder and spouse or a few named drivers should see the price demanded fall significantly in most cases unless there are other factors involved in pushing up the premium.