When it comes to insuring a so called ‘supercar’, there can be a few grey areas regarding their classification and whether or not you can be covered for them on your regular traders policy. We have given you a brief overview of some of the basic information to take note of if you are looking to get a supercar added onto your cover.
Can you get covered for supercars on a motor trader insurance policy?
Most people would expect the answer to be a straight forward NO, but actually, depending on the insurer, you can sell super cars for a reasonable additional premium or sometimes you may even be able to do so at no extra cost!
Can I have a supercar for my own private car?
The answer is the same – yes (subject to the right insurer), you can have a supercar as your own personal car but there will be an additional charge to do so. Again it does depend on finding the right company that will allow you to do so.
What cars are classed as supercars?
Here is a list of what is generally classed as a supercar:
- Rolls Royce
- Aston Martin
- A C Cobra
(always check if in doubt as insurer’s lists vary – eg a Jaguar XJ220 would surely be a supercar!)
Depending on the insurance company you will be allowed differing levels of interaction and cover with Supercars.
Some policies allow the sale and repair of supercars but will not cover you to drive your own e.g. for social purposes. Some will allow you to drive, keep, sell, fix or wash supercars for no extra charge. On the other hand, others will not give cover in any shape or form at this level and would cancel the policy immediately if they thought they were covering such vehicles! Then again you may find a company that will judge your risk on an individual merit basis – i.e. have you any experience driving these vehicles and are you willing to pay a higher premium for the cover.
Remember the cheapest quote is not always the best quote and usually there is a reason why they are cheaper i.e. restrictions to vehicles and numbers of private and stock vehicles.
Think Insurance are specialists in motor trade policies and can give you a bespoke quote tailored to your needs.
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