Why a standard car insurance is not sufficient for an exclusive car
Owning an exclusive car , such as a Porsche, Ferrari, Lamborghini, Bentley or Aston Martin , requires more than just a standard car insurance. Luxury vehicles entail higher risks and require insurance that tailor -made, extensive coverage and better damage settlement .
But why is a standard car insurance not sufficient for an exclusive car? In this blog you can read what risks you are running, why specialized insurance is needed and how you optimally insure your luxury car .
1. What is the problem with a standard car insurance policy?
A standard car insurance is intended for regular cars and often does not take into account the specific risks and higher costs of an exclusive car. These are the largest limitations of a standard policy:
🔹 Limited coverage in the event of damage - often only the current value reimbursed, which can cause substantial losses with an exclusive car.
🔹 No value guarantee - standard policies do not cover a value increase or appraisal amount.
🔹 High depreciation - Within a few years, the insurance can only pay a fraction of the purchase value.
🔹 Duration of recovery and parts - Regular insurance does not take into account specialist repairs or parts that are difficult to available.
🔹 Limited theft protection - luxury cars are wanted for car thieves and standard insurance often requires minimal security.
💡 A standard car insurance provides insufficient protection for the actual value and risks of an exclusive car.
2. Why does an exclusive car need special insurance?
Luxury cars have specific characteristics that require customized insurance
🏎 High purchase value - cars from € 100,000 to € 500,000 or more ask for a higher insured value.
🔧 More expensive repairs - Exclusive vehicles need specialized repairs at dealers or brand service centers.
📉 Value development - some cars retain or even rise in value, which requires value guarantee.
🔒 Increased theft risk - luxury cars are more attractive for car thieves and require advanced security.
✈ International use - Many exclusive cars are driven abroad and need global coverage.
💡 An exclusive car insurance takes into account these unique aspects and offers better coverage than a standard policy.
3. What does an exclusive car insurance policy cover?
A specialized car insurance offers more extensive coverage than a standard insurance.
✅ 1. Full hull (all -risk) coverage
✔ Damage due to fire, storm, theft, burglary and own damage .
✔ Coverage for damage by another vehicle or object .
✔ Protection with vandalism and unknown collisions.
💡 Standard insurance policies only pay counter -value, while exclusive policies often work with replacement value or appraisal value.
✅ 2. Value guarantee & appraisal insurance
✔ Determined appraisal value instead of current value.
✔ No depreciation within the first years.
✔ Coverage for the increase in the value of rare models.
💡 Many exclusive cars rise in value. Insurance prevents underinsurance.
✅ 3. Damage repair at brand dealers
✔ Repairs at official brand dealers and specialized garages .
✔ Use of original parts .
✔ No standard repairs at universal damage repair companies .
💡 With a standard insurance, damage repair can take place with an unknown garage, which negatively influences the value of the car.
✅ 4. Theft insurance with advanced security
✔ Coverage with theft worldwide.
✔ Reimbursement for joyriding and fallow damage .
✔ Vehicle tracking systems and SCM approved alarms can provide a premium discount.
💡 A standard insurance often only demands an alarm system, while luxury insurance can make GPS follow-up systems mandatory.
✅ 5. Roadside assistance and excluding replacement transport
✔ Breakdown assistance throughout Europe or worldwide.
✔ Custom replacement transport (for example a similar luxury car instead of a standard rental car).
💡 With standard insurance you often get a standard rental car, which does not match the exclusive driving experience.
4. What does an exclusive car insurance cost?
The premium of an exclusive car insurance depends on various factors:
📌 The catalog value of the car - the higher the value, the higher the premium.
📌 The type of vehicle - A Ferrari or Lamborghini has a higher insurance risk than an Audi RS6.
📌 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 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 .
5. How do you take out exclusive car insurance?
To get the best coverage for your luxury car, follow these steps:
1️⃣ Select a specialized insurer - regular insurers offer insufficient coverage for exclusive cars.
2️⃣ Have your car appraised - make sure your car is insured at the right value.
3️⃣ Choose the correct coverage - combine all -risk, value guarantee and theft coverage.
4️⃣ Check the security requirements -SCM approved alarm systems and vehicle tracking systems may be mandatory.
5️⃣ Request a quote from Finass insures - our specialists help you with a customized policy.
6️⃣ Take out the insurance and drive carefree!
Conclusion: Why is a standard car insurance not sufficient?
✔ Limited coverage - Standard Insurance only pays current value.
✔ No appraisal coverage - an exclusive insurance prevents underinsurance.
✔ More expensive repairs - only brand dealers and original parts covered.
✔ Bigger theft risk -luxury insurance requirements demand better security and GPS trackers.
✔ Exclusive service - breakdown assistance and tailor -made transport transport.
💡 Do you want to optimally protect your exclusive car? Request a quote from Finass insure and discover the best insurance for your luxury vehicle! 🚀
