Insure luxury car? You need to know this about an exclusive car insurance
Driving in a luxury car or sports car is a special experience. Whether you own a Porsche, Ferrari, Lamborghini or Bentley , you want to protect your valuable property as well as possible against damage, theft and loss of value.
A standard car insurance often offers insufficient coverage for exclusive cars. exclusive car insurance policy is a smart choice. But what cover do you need? What should you pay attention to when taking out a policy? And how do you ensure that you are not underinsured ? In this blog you will discover everything about insuring a luxury car .
1. Why do you need a special luxury car insurance?
Luxury and exclusive cars have higher purchase values, more expensive repairs and an increased theft risk . This brings extra challenges that often does not fully cover standard insurance.
🔹 High value - Exclusive cars often cost € 100,000 or more , which means that standard insurance is not sufficient.
🔹 More expensive repairs - original parts and specialized technicians make damage repair expensive.
🔹 Larger theft risk - luxury vehicles are wanted for car thieves and must be extra protected.
🔹 Value retention - The value of some exclusive cars is increasing, so that insurance against current value can be detrimental.
🔹 International use - luxury cars are often used abroad, which requires extra coverage.
💡 With an exclusive car insurance you are insured at the real value of your car and you benefit from Premium Service.
2. What coverage are essential for luxury car insurance?
A basic liability insurance only offers coverage for damage that you cause for others. not enough for a luxury car . An exclusive car insurance offers more extensive protection.
✅ 1. All -risk insurance (full hull)
For luxury cars, all-risk insurance the best choice, because it offers coverage against:
✔ Damage to others (liability)
✔ Damage to your own car due to its own fault
✔ Fire, storm and nature damage
✔ Theft and burglary damage
💡 Many exclusive car insurance policies work with replacement value instead of current value, so that you get a fair compensation at Total Loss.
✅ 2. Theft and vandal insurance
✔ Coverage with theft, joyriding and burglary .
✔ Protection against attempted theft (for example forced locks or chosen windows).
✔ Often the car requires SCM approved security .
✅ 3. Value guarantee & appraisal coverage
✔ Guarantee against value reduction : at Total Loss you will receive the purchase value instead of the much lower current value.
✔ Appraisal policy : your car will be valued in advance, so that you are insured at the current market value.
✅ 4. Roadside assistance and replacement transport
✔ Worldwide roadside assistance, including transport of exclusive cars in the event of damage.
✔ Replacement transport at a high level (not a standard rental car, but an equal class).
✅ 5. Trackday coverage (for sports cars)
✔ Special coverage for damage on the circuit (not included as standard).
✔ Protection against motorsport -related damage.
💡 Do you want to be sure that your luxury car is perfectly insured? Request a tailor -made quote from Finass insures .
3. What does a luxury car insurance cost?
The premium of an exclusive car insurance depends on various factors:
📌 The catalog value of the car - the more expensive the car, the higher the premium.
📌 The type of vehicle -A Ferrari has a higher insurance risk than a Mercedes S-Class.
📌 Age and driving experience of the director - young drivers pay a higher premium.
📌 Number of kilometers per year - the less you drive, the lower the premium.
📌 Security -A car with an SCM-Good alarm system or vehicle tracking system receives a discount.
💰 Indication of the costs:
🔹 luxury sedan (eg Mercedes-Benz S-class, BMW 7 series) -from € 100 to € 300 per month .
🔹 sports car (eg Porsche 911, Ferrari F8 Tributo) - from € 200 to € 700 per month .
🔹 Supercar or Hypercar (eg Lamborghini Aventador, Bugatti Chiron) - from € 500 to € 1,500 per month .
💡 Do you want an exact premium? Request a quote from Finass insures insures .
4. How do you get the best luxury car insurance?
To get the best coverage for your exclusive car, pay attention to the following points:
✔ 1. Choose an insurer that specializes in luxury cars
Regular car insurers can be limited in coverage and damage settlement. Choose an insurer with experience in exclusive vehicles .
✔ 2. Check the valuation of your car
Ask if the insurance works with:
✅ Purchase value guarantee - benefit based on the original purchase price.
✅ Appraisal policy - The car is valued in advance, so that you are insured at the real market value.
✔ 3. Note the security requirements
Many insurers require extra security, such as:
🔒 SCM-Good-approved alarm (class 3 or higher).
📡 GPS follow-up system for quick finding with theft.
✔ 4. Choose global breakdown assistance and exclusive service
A luxury car deserves an exclusive service. Choose an insurance policy that:
🚗 offers
customized transport transport ✈ international coverage for travel in Europe or beyond.
💡 Always ask for a customized quote from a specialized insurer such as Finass insures .
5. Frequently asked questions about luxury car insurance policies
💬 Can I insure an exclusive car in the name of my company?
Yes, business insurance for luxury cars offer extra benefits, such as tax deduction and flexibility in the fleet.
💬 Is an exclusive car insurance more expensive than normal insurance?
Yes, but you also get more extensive coverage, appraisal protection and premium service .
💬 What if my car has a value increase?
Some insurance policies offer a value guarantee that takes rising market prices into account.
💬 Are cars insured on the circuit?
Normal insurance does not , but special trackday insurance available.
💡 Do you want to optimally protect your luxury car? Request a quote from Finass insures and discover the best insurance for your exclusive vehicle! 🚀
