Properly Protect Your Valuable Vehicle
Buying a luxury car is exciting. Taking it out for a spin is an even better feeling. Whether it’s a Porsche, Rolls Royce, Bentley, Ferrari, Lamborghini, Lotus, or another high-value vehicle, you should now ensure that you have adequate insurance to cover this valuable asset. There are certain brands that are a step up from an average, everyday automobile. Such a high-value car might mean a great deal to you – so why settle for average insurance? If you own a luxury vehicle, you’ll need specialist auto insurance.
Luxury Vehicle Insurance Cover
Luxury vehicles often mean higher insurance premiums. If you are involved in an accident while driving a high-value vehicle such as a sports car, where the more powerful the vehicle, the riskier it is on the road, any replacement parts are much more expensive, which can impact your rate. Older luxury cars could be missing safety features that are considered standard in today’s vehicles, such as airbags, making them even more dangerous on the roads. As usual, the more expensive the car, the more likely it is that it will be stolen.
You will need to secure coverage that protects your vehicle from collisions, vandalism, theft, and more. When you purchase liability insurance for your luxury vehicle, you should consider the worst-case scenario and purchase auto insurance to cover that situation. If possible, consider gap insurance if you have financed your vehicle. If you have an accident, the insurance company will pay the market value of your vehicle, not the replacement value or your financing costs.
Ways to Save
Fortunately, there are insurance options available that make owning a luxury car more affordable. For example, if your luxury vehicle is not the car you drive to work, it could mean lower insurance costs. Driving a luxury car now and again will entitle you to discounts as you won’t be covering a lot of mileage. As a secondary vehicle, you should also ensure you have insurance for the vehicle you drive every day. Although this car may not be as exciting as your red sports car, driving the luxury vehicle for pleasure will keep those journeys more special.
Additionally, you can keep your premiums reasonable by insuring responsible, adult drivers on the luxury vehicle. Teen drivers are notorious for hiking up insurance rates due to their inexperience on the roads. The better driver you are, the lower your insurance rates. Even if your teen begs to hop behind the wheel of your Maserati, refrain from saying yes.
Not every insurance company is interested in insuring high-value, luxury vehicles, but that’s not the case with Nahai Insurance Services. Talk to our expert team to find out how we can secure auto insurance for your luxury vehicle.