Whether you have a high-performance sports motorbike or a carefully maintained classic car, there are a few things to consider when choosing your car insurance policy. Indeed, exceptional vehicles require specialised car insurance to guarantee your financial protection in the event of a problem. After all, a luxury car is not just a comfortable and modern means of transportation. For many people, it's a valuable asset that reflects a sense of style and a passion for the good things in life. Of course, many of these cars also have a practical function, so you need to make sure that all the engines in your fleet are properly insured. That's why you need to understand your specific needs and find a high-value car insurance policy which is right for you.
What is the best car insurance for luxury vehicles?
High performance vehicles are also known as prestige cars or luxury sports cars. They have a knack for turning heads. Take a Lamborghini for example. This type of high-performance car is a symbol of power, speed and luxury. Even if you are not a car enthusiast, you will recognize a luxury car when you see it. Since high-performance cars and motorbikes tend to be more expensive and are prime targets for theft, the premium for collector's motorbike insurance may be higher than that of an average model. This is mainly because you are insuring a higher value property. That's why comprehensive insurance is usually the best option for high-performance luxury cars. Some insurers even offer a premium option for the highest level of cover. With comprehensive insurance, you will have access to all the benefits of a comprehensive cover, as well as the standard extras. This includes glass and windshield coverage, lifetime replacement of a new car (for eligible policyholders), unlimited days of car rental and accidental loss and damage. But auto insurance isn't for everyone. To find out if your insurance is right for you, you should ask for a specific quote for your vehicle.
What is covered by a specialised car insurance?
As the owner of a luxury vehicle, it's important to remember that standard policies are rarely designed to cover your type of engine. That's why you need to have a collector's motorbike or prestige vehicle insurance policy adapted to your needs, as well as the high financial costs of repairing or replacing a car. With these luxury car insurance policies, you will agree in advance on the value of the vehicle, so you will know exactly how much you will be paid if the car is depreciated. Besides, you can choose to have repairs carried out by the workshop of your choice and, if it is an approved workshop, all repairs will be guaranteed for three years. Here are some of the other special benefits you'll enjoy when you opt for premium auto insurance:
- Comprehensive coverage for you and your designated family members
- A similar replacement car will be provided in case of accident or theft.
- Unlimited number of trips abroad - each lasting up to 90 days
- Loss of driving licence coverage
Which insurer to turn to?
The key to buying the best luxury car insurance is to understand your car insurance needs and then find a policy that meets most of those needs at a reasonable price. There are many things to consider when buying high-quality car insurance. Clearly, your vehicle is not ordinary. You need to select your insurer as carefully as you do to choose your prestige car. Perhaps you have special wishes. If your beloved engine is leaving in the wake of a disaster, you probably don't want to be offered a "standard" rental car to help you get through the crisis. Instead, you may want to look for a similar vehicle or at least for a generous replacement subsidy, so that you can choose a suitable prestigious model. There are also different limitations and exclusions that apply to different insurers and policies. Given your passion, you'll want to know what you're doing when you want to compare high-quality car insurance estimates. Not all policies are created in the same way and some may be more tailored to your specific needs than others. A limited mileage policy may suit some people, but not everyone. For many people, your precious engine is there to be driven, not stored in the garage.
How do you get the best luxury car insurance?
Here's a list of important things to consider before buying a luxury car or a motorbike insurance.
Select the appropriate add-ons: add-ons offer additional coverage for an additional premium. In general, top-ups cover situations that can be considered exceptions. Sometimes they are also service-oriented. Understand your coverage needs and choose only the appropriate top-ups. Among the most popular options for luxury cars are roadside assistance, zero depreciation and engine protection.
Compare car insurance online: different insurers may offer different prices for your luxury car policy. Be sure to compare policies with the coverage required as a common factor. Some policies may be cheaper, but with reduced coverage.
Bonus coverage in the event of a claim: you can get a discount when you renew your car insurance policy if you have not made a claim. However, with no loss bonus protection coverage, you can benefit from a discount even if you have made a claim.