Insuring a prestigious vehicle
There are numerous reasons to own a prestige car. Perhaps you simply enjoy driving sporty vehicles. Or perhaps you like having a comfortable, yet very stylish form of transportation. Or perhaps you are using your luxury vehicle as a means of creating a specific image or to reflect your social status. Or perhaps you're among the many wealthy people who are investing in collections of prestige cars, such as Porsches and Ferraris, rather than investing in volatile equity markets. Whatever your reasons may be, you still have to obtain car insurance which complies with UK legislation as well as protecting your asset.
You'll certainly want your insurance cover to be just as tailored to your needs as your prestige cars are. This means you'll have to be very selective in your choice of insurers. Sadly we live in the real world and your car may be a target for both thieves and vandals so you'll want to find quality cover of real value that provides full protection at a reasonable cost.
Comparison shopping is as essential to finding the right insurer and insurance cover as it is to finding the right vehicle. However, you most likely live a very busy lifestyle, and have little time left for in-depth research of insurance offers. Fortunately, there are ways to save time, effort, and the expense of finding just the right insurer and car insurance cover. Even if you think you've already found the right insurer and cover, you should consider the following tips and advice when it comes time to renew your policies.
Tips and advice
Since you own a valuable car, you will have to take into consideration many factors when purchasing insurance. You'll have the usual factors to consider, such as what type and amount of liability coverage is necessary. To determine an adequate amount and the right type of liability, you'll have to decide who is likely to be driving your car. You'll also have to determine how far and how often it will be driven.
If you're like most UK luxury car owners, you probably don't drive your prestige car often. Thus, it may not be necessary to keep full comprehensive insurance year round for each car. You'll need protection against theft and accidental loss year round, but will only need third party liability and fully comprehensive protection during the periods the car is actually driven. Thus, a combination of insurance policies might be best, including short term or temporary cover instead of just year round policies. However, if the car is driven daily or quite frequently, you'll need fully comprehensive cover for anyone who drives it.
If you are going to use fully
comprehensive cover year round, you should consider getting a policy that offers
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