Wednesday, October 3, 2012

How to select the best car insurance for luxury car?

Automobiles are among the most commonly used e...
Automobiles are among the most commonly used engine-powered vehicles (Photo credit: Wikipedia)
Many of us would envy and dream to own a luxury car such as Audi, Benz, and Porsche in our life time. People who opt for a luxury is the one who do not want to compromise on the ride, handling and comfort of their travel. So, when it comes to car insurance these cars should also have an insurance policy that covers the cost of the repair adequately.
A car accident can never be planned and no one knows when it is bound to occur. As a luxury car owner one should have necessary coverage with the insurance so that the cost of the accident does not have a catastrophic effect on your finance. 

These are the few points you should consider when going for a luxury car insurance

Be ready to pay higher premium – As we all know luxury cars tend to cost more than the regular cars. And the costs to keep up the luxury cars are also higher than the regular cars. Therefore, insurance company does charge a high premium for the top end cars. Therefore, when you plan to buy a luxury car, be ready to pay higher premium.

Make sure it covers all the spare parts – Luxury cars when met with a accident is going to be a costly affair to get repaired. Many insurance companies do have restrictions on percentage of claims you can make on the specific parts of a car. Some companies only offer 50% of claim on spare parts that is made of plastic. Therefore, before signing a luxury car insurance you should make sure it is always a bumper to bumper insurance.

Your insurance should cover theft – Luxury cars and vintage cars are rare in numbers, therefore they are always the target for people who steal luxury and vintage cars and ship it to other countries. I believe many would have seen the movie “Gone in 60 Seconds” where Nicolas Cage steals 50 luxury vintage cars in one night. That movie is a good reminder for people to have theft insurance on their luxury car.

Research and analyze – Even though a luxury car owner is not a price conscious person it is always advisable to shop deep to get the better insurance coverage for your luxury car. To get the best plan collect all the available plans, analyze each every minute details like premium, coverage and No claim bonus to select the best plan for your needs

Always go with company offered insurance – Many car manufacturers like Porsche, Mercedes and Audi tie up with insurance companies and offer their own insurance plan. In case if you come across such plan, never leave the opportunity to go. In experience, a luxury car is easy to maintain when the car has the insurance plan from the insurance company that has a tie-up with the manufacturer.

When you are in the market for an insurance policy for your luxury car, you should make sure that the insurance policy fulfills the above points. An insurance policy that compiles with the above points will give you peace of mind while driving your luxury car.

Philip is a guest blogger interested in writing informative contents related to Auto insurance. To know more on being familiar with car insurance please go through his page at


  1. If you are an owner of a luxury car then definitely you have to pay a little bit more for your car insurance policy. Although there are some good car insurance companies which provides cheap car insurance policy for the luxury cars. But for such companies you have to search both the online and offline. Do a self assessment about your decision and buy the only when you are pretty convinced with the services of the car insurance company. Very good post and I appreciate your efforts.

  2. Thnx for taking the time to talk about this, I feel strongly about it and love learning more on this topic. If possible, as you become expertise, would you mind updating your blog with more info? It is highly helpful for me. Two thumb up for this article!

    Daniel Schmitt and Co.

  3. I recently upgraded some car parts of mine courtesy of mobile car detailers in perth. I'm wondering if a standard car insurance will cover the part that was upgraded should it be damaged in an accident.

  4. That's why I'd rather get a car from a toyota long island to insure; they're more cost-efficient when compared to those audis.

  5. In experience, a luxury car is easy to maintain when the car has the insurance. PPI Claims Management

  6. My husband and I agreed that after we get our car from chevy dealerships long island , we’ll get it insured. And we’ll consider your points before going for car insurance.

  7. Does this also apply to second-hand cars? My co-worker is checking some long island used cars dealers, and she might find this a useful investment, in addition to the car itself.

  8. Thank you for the guidelines but it also depends on the dealer. Customer service vary and based on my experience the new york Nissan knows the exact meaning of customer satisfaction.

  9. Your tips is very helpful. Thank you for that. I want to have a car that is doesn't just drive me around but also gives me benefits. I have a car, cheap, well-tuned and a stylish car.. I am from Texas and this choice came up to me because of lack of budget. So if ever i'll be buying my second car. I am sure to follow these tips of yours. Thank you for this guide.

  10. Thanks for sharing this information! Some days i feel i need a car but i cant find a good car company when i looking your Blog then really i confused.I read your blog i think its really helpful.keep it up. auto insurace mobile

  11. People choose Progressive car insurance for a number of reasons. They save money. They like how they’re treated. They get rewarded for being a customer. car insurance

  12. Luxury and vintage cars are rare in numbers therefore they are always target for those who steal these types of cars. Hence it becomes quite essential to get ur car insured. Therefore it is advisable to go through all the details and then purchase insurance for your vintage or luxury car. One should go by the best plan, premium, coverage details, no claim bonus etc to select his/her desired scheme.

  13. Yes I am agree with your all the points. From where you are getting insured your auto and car must cover all the spare parts of your auto and theft of auto must cover in the insurance. Thanks for such useful article.

  14. Car are the precious assets for everyone and we all want to have the best care for our luxury cars. There are so many insurance providers that are delivering the best car insurance and your post is exactly perfect for choosing the car insurance. I like your idea and I is great to have for our luxury cars.
    disability insurance plan


Join 1000's of People Following 50 Plus Finance
Real Time Web Analytics