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Luxury Car Insurance – All You Need To Know - Greyfont


Luxury Car Insurance – All You Need To Know!

 

You are sitting tight at the steering of your dream car. You can see yourself cruising through burning the tarmac underneath. You are the envy of the town as also the talk of it. But what happens when the slightest of dents happen to occur on your prized possession? This is where car insurance policy comes in to picture for your luxury car. And the best way to go is to get a comprehensive car insurance coverage.

 

Reasons to get your luxury car insured:
 

  • Theft – Luxury cars are more vulnerable to get noticed and hence more prone to get carjacked. The parts of your luxury car will fetch extremely high money in the stolen car market so trust the carjackers to take notice of your car and your daily whereabouts, the moment you enter your neighbourhood in that hard-earned vehicle of yours.

 

  • High Maintenance Cost – Given its high price, the price to keep it intact and in the best condition is also high. The repair costs are sky high even for the smallest of repairs at the authorised service centers. So it’s wise to have an insurance package as a back up so that it is the insurance company who pays the cost incurred for repair.

 

  • Frequent Accidents – The staring and gawking aside, the passer by people are bound to get more prone to lose their concentration upon the arrival of your premium car and end up having collision with you. Plus the condition of the Indian roads makes it even worse given that the luxury sedans with low ground clearance are bound to get affected by the potholes.

 

  • Third Party Claims – In case of accidents, the third party claim is bound to be higher as they will take your car to be a measure of your affluence and try to make you cough up a higher amount of money.

 

  • Non- Extensive Service Network – The regular garage mechanic is not supposed to understand the intricacies of your luxury car’s sensitive engine and inner workings. It is always advisable to get in touch with specialised mechanics at high tech service centers instead of the one that your insurer has listed for you who not only take time to show up but also charge high.


How to keep the Maintenance Cost Low?
 

  • Safe Driving leading to less accidents and hence less repairs
  • A clean driving record is also likely to fetch a higher No-claims bonus wherein the Insurance Company gives you discount for the more you make no claim in each consecutive year.
  • Opting for a high deductible.


 

What Kind of Insurance should you to get for your Luxury Car?
 

  • Accident Claim – Your Insurance Company is bound to get your claim processed after you’ve been through some major accident wherein your car has received considerable damages.

 

  • Theft Claim – In this case, the company will make the necessary interrogations and investigations of its own before it decides to pay for your damage.

 

  • Third Party Claim – In case of accidents where you are not at fault, having third-party claim coverage will make sure the third-party is liable to pay for your value damage and the required repairs of your luxury vehicle.



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