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Inside this Article
Sport Car Insurance |
Luxury Car Insurance
5
Important Tips for Insuring Your Luxury Sports Car
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You've done it! You
bought your dream car. But did you consider insurance
before you bought it?
That beauty has a
roaring engine. The finish gleams. The tires
squeal. It's a real eye catcher. But its also
likely to catch the eye of a thief, too.
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That's why you need insurance.
Not just any insurance. Insurance
that’s specific to the kind of luxury or sports
car you now own.
Here are 5 of the most
important tips you need to know to properly insure
your luxury car.
Find The Right
Insurer
Not every insurance
company will sell you insurance for your
luxury car. Finding an insurer for a 2007 BMW 335i
Coupe, Maserati or a Rolls Royce isn’t as easy as
finding one for that Ford Echo.
The dealer who sold you
the car can recommend insurance agents or you
can look in publications like Hemming's Motor News,
Car and Driver or search online for specialty brokers.
Expect rates run 15-20% above non-sports or luxury
models. Remember, much of your insurance is
calculated on replacement value and repair costs.
Decide Whether
You’re A Daily Driver Or A “Saturday Night.”
You must tell
potential insurers an accurate estimate of their
annual mileage. If you just take your baby out on
sunny summer Sundays for a drive in the country or to
cruise one Saturday nights, you can save big on insurance
because of the low miles driven. Under 5,000 miles is
usually the limit.
Join The Club!
Consider becoming a
member of the owner’s club for your model or auto
maker. Club members are always willing to share tips
about such things as upkeep, special problems and
maintenance as well as sources of parts and even
insurers.
Ask For Discount
Auto Insurance
Beyond anything else,
ask the insurance company what memberships you
could belong to or what you could add to the car (a
security system generally helps) to get the best
coverage at the lowest price. Package insurance
products for your home or other cars together with
your sports car. You could see the costs fall
in total.
Don’t Forget To
Tell Your Insurer About That $5000 Audio System Or
Other Expensive After Market Accessories That You’ve
Added On
They might not like
that nitrous oxide super charger, but if you don’t
disclose it, it may not be covered in a claim. Getting
the best coverage for your luxury or sports car
is a must. Use these tips to help you to protect that
beauty so you can feel the wind in your face and just
enjoy the scenery.
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