ONE luxury car is subject to the same rules as a more classic model: you must subscribe to at least one third party insurance and cover his public responsibility. But is this car insurance enough to cover an expensive vehicle?
What insurance for a luxury car?
There are three typesCar insurance :
Generally, all-risk insurance is recommended for high-cost vehicles. For one luxury, prestige or high-end car, it is therefore better to move towards such a formula, even if it is not mandatory. Thereby, in the event of an accidentyou will be able to benefit from the best possible coverage.
There is also insurance companies specializing in high-end cars. These companies offer warranties tailored to these more expensive vehicles. And often the compensation caps are higher. However, to subscribe to it, you must generally meet certain criteria, especially in terms of security: have an electronic security system, park your car in a closed private garage, have a GPS equipped with a tracking system to find the vehicle in case of theft. ..
Some also insure their luxury car with insurance per km. If you don’t travel a lot with your premium vehicle, such a package can be customized and allows you to lower costs often important for this type of model.
Be careful though, the prices for such contracts are high and can reach very high levels, especially if your vehicle is very rare and expensive. You can try using one insurance comparator to find the most suitable contract. If you need to insure such a vehicle, the choice of insurance to cover it is all the more crucial.
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How to insure a high-end sedan?
Among advanced vehicles, there are mainly sedans : Mercedes Class E, S, CLS, BMW 5 and 7 Series, Porsche Panamera, Maserati Quattroporte, or even the Audi A6 and A8… These vehicles combine both comfort and performance and are aimed more at people who want to drive in a comfortable car without sacrificing dynamics behind the wheel.
To ensure a premium sedanBack to back insurance highly recommended. However, if the vehicle is of a certain age and has lost value, an intermediate insurance may be sufficient. The latter will insure you for car liability, theft, fire and sometimes broken glass.
Which car insurance for a sports car?
sports cars are not necessarily luxurious. But in fact, the manufacturers pay particular attention to these models when they are not oriented to the circuit. We can therefore consider many sports models as luxury cars: Ferrari, Lamborghini, Aston Martin, German sports models (“M” models at BMW, AMG at Mercedes, RS at Audi and R8), Porsche, Bugatti…
For these models it is better to contact one specialized insurance company. In fact, prices are generally very high, more so than for sedans. Traditional insurance companies will often refuse to insure these powerful cars.
Which luxury SUV insurance should you choose?
SUVs (Sport Utility Vehicles), these raised cars often 4-wheel drive and/or 4×4 (AWD and/or 4WD) have established themselves in the market in a few years. Spacious and safe for their passengers, SUVs have been developed from all angles, especially in the luxury segment. We can mention different models: BMW X5, Mercedes GLS, Audi Q7, Jaguar F-PACE, Land Rover Discovery, DS 7…
To ensure a prestigious SUV, All-risk insurance is also recommended here. However, if your model is really expensive (Lamborghini Urus, Bentley Bentayga, Rolls-Royce Cullinan…), it is better to turn to a specialized insurance company that will offer you a tailored contract dedicated to your vehicle.
What warranties to take for a luxury vehicle?
For a luxury car, it is better to be well insured. All-risk insurance is therefore ideal with its fire, glass breakage, theft, natural disaster cover… Here is also a non-exhaustive list of optional warranties suitable for a top-of-the-range vehicle:
- vehicle assistance 0 km;
- new value guarantee;
- value guarantee: Here the value can be increased in relation to the vehicle’s argus assessment;
- warranty against mechanical breakdown;
- legal protection;
- equipment warranty…
Frequently Asked Questions About Luxury Car Insurance
How to insure a Maserati?
To insure a Maserati, it is better to take out an insurance policy with one very comprehensive coverage. For this, there are insurance companies specializing in luxury, sports and prestige cars.
What insurance for a Porsche?
Most models of Porsche can be insured with a conventional insurance company. But for the most expensive and most powerful models (GT3, GT2, 918 Spyder, Carrera GT…), it is better to contact a specialized insurance company.
How do you lower the price of your car insurance?
To do lower the price of car insurance, you can reduce the coverage and take out a small formula (intermediate or third party), increase the excess amount or lower the compensation ceilings. However, for a luxury vehicle this is not necessarily recommended because the cost of repair or replacement in case of damage will be very high.
How to insure a Jaguar?
Jaguar offers own insurance agreements with Jaguar insurance. Otherwise, to insure your Jaguar, you can compare policies to find the contract that best suits your vehicle and your budget.
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