The first and only thing that comes to mind when someone talks about supercars is money. Well, it should be, because these babies can cost as much as a small house. But keeping up with the Joneses isn’t just about buying expensive cars; it’s also about taking care of them properly. So if you recently got yourself a supercar, here are the 9 steps to your supercar insurance.
1) Get the right insurance
Insuring your supercar is extremely important because it ensures that you and your car will be protected in case of accidents and other unforeseen circumstances.
2) Read the contract carefully
Aside from knowing exactly how much you’re paying for, also check if there are any clauses that say you won’t be covered if you do something stupid. For instance, if you’re not allowed to drive at night and you get into an accident because you were doing doughnuts with your supercar during the wee hours of the morning, then that’s on you.
3) Check your coverage
So there was this time we saw a Lamborghini crash head first on a tree off the side of the road. We’re not sure how it happened, but upon closer inspection, we saw that there were no airbags deployed. It could have been just a freak accident or maybe the guy behind the wheel wasn’t insured at all. If you want to avoid such nasty surprises (and possible lawsuits), then make sure your supercar is properly insured.
4) Remember: Money can’t buy everything
Supercars are beautiful and powerful, but they’re still just pieces of machinery, which means they break down from time to time. Remember the first rule? The right insurance will cover those expenses as well as those arising from any accidents.
5) Don’t be a show-off
Be cool. In the rare event that you find yourself in a supercar, don’t go and speed up at every opportunity. Drive carefully and responsibly so that your investment will stay in one piece. Besides, if you do get into an accident, then the insurance company will refuse to reimburse you for damages because of irresponsible driving.
6) Get a track day insurance
If you find yourself at the race track, then get a track-day supercar insurance. Not only will this fully cover your car during the time of racing, it also comes with lower premiums than normal supercar insurance.
7) Refresh your insurance at least once a year
Technology has been advancing by leaps and bounds lately, so it’s best that you have your insurance company check if the insurance coverage for your supercar is still up to date. Remember: insurance companies take into consideration all kinds of things, including insurance claims from other drivers whose cars were damaged when you crashed into them.
8) Get the insurance you can afford
Don’t let insurance price tags stop you from insuring your supercar. Check and compare insurance prices and insurance companies (both insurance providers and insurance brokers), sign up for online newsletters, and claim free quotes at sites like 4AutoInsuranceQuote.com to make sure that you’re getting the insurance coverage you need.
9) Don’t stop at insurance
You can never be too careful, so check your insurance policy to see if there are other things that you should be doing in order to fully protect your investment. For instance, insurance companies usually provide automatic set of extended warranties under the supercar insurance policy, so take advantage of that.
So there you have it, insurance for your supercar should be simple if you follow these 9 steps. And remember: insurance is not an option!
How much does insurance for a supercar cost?
Supercar insurance costs are dependent on several factors, including the insurance company you choose, your area, and your driving record. It is possible to get cheap supercars insurance if you’re willing to shop around.
Is insurance for supercars mandatory?
Yes, insurance for supercars is mandatory. If you drive a supercar without insurance, then the car will be impounded by the authorities. Depending on your insurance coverage, it might also result in hefty penalties and fines.
How much does it cost to insure a used supercar?
Insurance costs vary depending on the model of used supercar you’re driving. Still, insurance costs are lower for used supercars because insurance companies take into account that these are already broken in cars.
Do insurance companies give insurance discounts for supercars?
Many insurance companies do offer insurance discounts for supercars. However, this isn’t always true, so make sure to compare insurance prices before you sign up for insurance.
Considering All Of The Facts
We hope you’ve found this article to be helpful. It can also serve as a guide for protecting your supercar investment, so that it doesn’t go down the drain by simple accidents or negligence. Any questions? Comment below and share your thoughts!