Why You Should Insure Your Luxury Car

Last Updated on February 2, 2024 by John Robinson

Apart from buying a home, owning a car is one of the largest investments that you will ever make. Over the past decade, more people than ever before are putting their money into luxury vehicles. With more flexible financing options available, more people can enjoy the taste of a more refined and elite vehicle.

As a large investment, your luxury car should have the right protection in case of damage or theft. Although normal car insurance is a requirement in every state, it’s not recommended that you apply an average policy to your luxury car. Top luxury vehicles and their owners require additional care and consideration when it comes to insurance coverage.

If you are researching auto insurance quotes for your luxury vehicle, there are several important things to consider that go beyond price. Let’s take a look at a few critical reasons why you should have the right insurance coverage for your luxury vehicle.

Repair Costs

The size of the repair bill isn’t the only difference between an average vehicle and a luxury car after an accident. Most regular cars are mass-produced on a series of assembly lines using the same parts and tools. This makes them easier to repair and keeps the cost of replacement parts low to accommodate middle-class drivers. Luxury vehicles are more likely to be sophisticated machines that are intricately designed and constructed. Completing repairs and finding replacement parts for these types of vehicles can take time and resources. When you have the right insurance policy for your luxury vehicle, it will include the elevated costs of repairs.

Agreed Value

When your car is damaged beyond repair, a traditional insurance policy will give you the replacement value of your car. This generally means that the Blue Book value of your car at the time of the accident will be your settlement. When you take out a luxury vehicle policy, you get the benefit of an Agreed Value. Your settlement will be based on the replacement value of your car as it was at the time when the policy was originally started. 

Roadside Assistance

Having a roadside assistance rider on your luxury insurance policy is a must for owners. Although luxury vehicles are designed to last, even with the best maintenance you could find yourself stranded on the side of the road. Traditional tow trucks are fine for regular cars, but most owners don’t want to trust their expensive vehicles with just anyone. With a luxury vehicle policy, you will have the benefit of relying on a roadside rescue that has the right equipment to treat your car carefully. You can also make arrangements to have your car transported to your own trusted repair shop where it can be taken care of properly.

Premium Service

As a luxury car owner, you are accustomed to the best in customer service. The inconvenience of being without your vehicle due to repairs can be compensated by the best possible service. You will often work with a dedicated agent that will keep the lines of communication open during your claim. Your agent will work on your behalf to make certain that every effort is being made to get your luxury car back to you in immaculate condition. 

When you spend the money to have one of the finest vehicles on the road, you want to make sure that you have the right protection. Don’t rely on a standard car insurance policy to give you the service that you need. Luxury policies will give you the right replacement value for your vehicle, reliable roadside assistance, and compensation for expensive repairs and services. Adding a luxury car insurance policy will keep your elite vehicle protected on any road.

John Robinson
John Robinson

Howdy! I’m John Robinson from Levittown, New York. I am a mechanical engineer for 15 years and already had an established car repair company. I developed a personal relationship with cars since I was a kid. I always love the sounds and smell emitted by a car or truck and even at construction machinery. Since then I have been married but my love for cars only grew.