Prestige car insurance is a must if you own a luxury car. Having one will ensure that you’d always feel at peace and secure when it comes to everything that involves your prestige car. You’re doing yourself a disservice if you have a luxury car and you only have regular car insurance for it. It deserves so much more. You deserve so much more. To give you an idea as to how luxury cars should strictly have prestige car insurance policies only, we will discuss the following:
- What prestige car insurance is
- What a prestige car is
- Incidents that should be covered by prestige car insurance policies
After reading this, it is our hope that you’d fully understand how prestige car insurance policies are the only way to go if you’re after the full maintenance, protection, and security of your luxury car. Read on and learn.
Prestige Car Insurance 101: What is it?
It is an insurance policy that is dedicated to the security and protection of luxury cars. They are vastly different from regular car insurance policies.
What is a prestige car?
A prestige car is any luxury vehicle or high-performance vehicle that is usually produced by European countries. Lamborghini, Ferrari, Aston Martin Bugatti, and Porsche are some of the many popular makers of luxury high-performance vehicles.
11 Incidents That Your Prestige Car Insurance Should Cover
When looking for a luxury car insurance company, you should ensure that the prestige car insurance policies that they will offer covers the following:
- Accidental Damage
Prestige car insurance will ensure that you don’t spend a thing if ever you’d encounter any kind of accident. This is highly beneficial because the repair of luxury cars can be extremely expensive. With prestige car insurance, you won’t have to worry about spending a fortune on the repair.
- Theft or attempted theft
Prestige car insurance will also cover all costs if you’d encounter theft or attempted theft. Should a luxury vehicle be stolen and later recovered, prestige car insurance can also cover costs of repair. You can also have your policy adjusted to also cover legal fees.
- Damage to another property or vehicle
With prestige car insurance, you won’t have to worry if you’d encounter any form of accident that costs damage to third parties or vehicles of third parties. Your prestige car insurance policy can duly cover all the costs. This includes medical bills and repair costs.
- Storm or flood damage
Your prestige car insurance will also ensure that you suffer no troubles if ever your luxury car encounters damage from storm or flood. Such situations can lead to the need for costly repairs as exterior and interior parts can get damaged by water and excessive moisture. But if you have prestige car insurance, all repair costs will be covered by your insurer.
- Damage or loss by fire
You’d be safe from having to worry about fire incidents as prestige car insurance policies also cover damages and loss from occurrences related to it. Depending on your policy, your insurer can either replace your luxury car with the same exact model or provide you with the price value of such a luxury car. This will be the case if you’d suffer from complete loss.
- Malicious act or vandalism
Prestige car insurance will also cover costs if your luxury car would suffer from any form of vandalism or malicious act. The costs of vandal removal, repair, and restoration will be covered by your insurer.
- Damage to modifications
Luxury cars often get fittings or modifications. Such need due protection and such is what is duly provided by prestige car insurance policies. One will ensure that any luxury car fittings or modifications are duly replaced or repaired should it suffer any damage due to storm, flood, fire, or vandalism. Loss from theft will also be duly covered.
- Emergency repairs
Prestige car insurance policies will also cover emergency repairs to ensure that you get to use your car as soon as possible after encountering an accident. Repair costs will depend on the value provided by your policy. As it is a separate repair request there could be a limit as to the value of the amount that you can claim.
- Window glass damage or windscreen damage
Luxury cars have premium windows and windscreens that are also duly covered by prestige car insurance policies. Repair or replacement of such is duly covered by insurers. Some insurers offer it excessively for free. When a feature is offered excessively, you can be held accountable for the excess fees if you are found to be at fault.
Prestige car insurance policies will also duly cover damages caused by towing accidents. Cover can vary depending on your insurer’s offered policy. Some can only offer coverage when a towing accident takes place after a road accident while some can cover a towing accident regardless if a road accident took place prior.
- Salvage Rights
Prestige car insurance policies also provide clear provisions in case of total loss or wreck of a luxury car. A provision on salvage rights will allow you to retain ownership of your vehicle. Such ownership will give you the right to choose if you’d prefer to restore or sell the parts of such a luxury vehicle.