High end cars will always cost more to insure than other, more affordable cars. There are a few reasons for this, including the increased risk of theft, and the higher cost of repairs following accidents. The result is that some drivers struggle to find good cover at a fair price. In recent years, Range Rover drivers in particular have had some problems in finding adequate car insurance cover.
In this post we’ll discuss a few ways you might be able to reduce the cost of your high value car insurance.
Long story short: Talking to an insurance broker can help you get car insurance cover that reflects your personal circumstances. Brokers can also discuss ways you can manage your risks, which can help bring down the cost of cover. For more information, call Kelly Dunk on 0208 290 9099 or email personal@anthonyjones.com.
Make Your Car More Secure
The risk of theft is a major reason it costs so much to cover high value cars. If you can take extra steps to secure your car, it may help bring down the price of cover:
- A secure garage to store your car in overnight, ideally with automatic floodlights and CCTV coverage.
- CAT 5 trackers with driver recognition and remote immobilisation options.
- Ghost immobilisers, for protection against key-cloning and hacking.
Indeed, some insurers may insist you have these security systems in place before they even consider insuring your high value car.
Using Your High-Value Car as a Company Car
If you run a business, you could save some money on insurance through treating your high end car as a company car.
Get a commercial motor insurance policy to cover your car for both business and private use, and you may end up paying less for cover than you would if you took out a standard annual policy on your car.
Get a Dedicated High Net Worth Insurance Policy
Instead of getting separate insurance policies for your house, your car, and any other valuable possessions you wish to protect, get a dedicated high net worth insurance policy to cover multiple high value items at once.
Specialist high net worth insurance can cover you for:
- Classic, luxury, high-performance, and other high value cars.
- High value homes, including second homes, holiday homes, overseas properties, and unusual constructions.
- Fine art, antiques, and other valuable collections.
- Jewellery and family heirlooms.
- Yachts, sailing, and speed boats.
A single high net worth insurance policy could prove more cost-effective than taking out separate policies to cover each of your valuables. Plus, if you only have one policy for everything, then you’ll only have to worry about a single premium payment and a single renewal date. You’ll also have a single point of contact should you ever have any questions about any aspect of your cover. And this, of course, will also make the claims process a lot more straightforward.
We Can Help You Reduce the Cost of High Value Car Insurance
If you want to save money on the cost of covering your high value car, we’re here to help.
As experienced and reliable insurance brokers, we can help you find cover that meets all your needs at a truly competitive price.
Or alternatively, if you want to see if you can save money through getting a high net worth insurance policy to cover all of your valuables, we can help you find an insurance solution that ticks all of your boxes.
Find out more about our bespoke high net worth insurance service. And for some personalised advice or a free quote, call us on 0208 290 7779 or email personal@anthonyjones.com.
