| Motorists with high value performance and luxury cars know how difficult it can be to get insurance for them. Many insurance companies won’t touch cars valued over £75,000, so good news from Admiral. It has just increased the upper limit on the value of cars it will insure, to £125,000.
Expensive cars can be expensive to insure, but they are becoming increasingly popular for men and women with money to spend and a love of beautiful cars. Traditionally only a handful of companies would quote on cars such as Bentleys, Ferraris and Lamborghinis. Now that Admiral covers these cars it has become easier for their owners to find competitive insurance.
Admiral managing director, Sharon Clarke, said: “We have always been known as a company that insures higher risks than most, but unfortunately until recently we would only cover vehicles up to a value of £75,000. This meant we reluctantly had to turn some customers away. I’m delighted that we can now extend cover to even more expensive cars.”
The cars that Admiral will now insure include models of Aston Martin, Bentley, Ferrari, Lamborghini, Maserati and Rolls Royce.
Admiral looked at how much it would typically cost someone looking to insure three of these cars, the Aston Martin DB9 (valued around £105,000), Maserati Quattroporte Evoluzione (valued around £85,000) and a Ferrari F430 (valued around £115,000).
Example one
41-year-old male solicitor, living in Warlingham, Surrey, driving an Aston Martin DB9 - £795.50
Example two
53-year-old male solicitor, living in Dalkeith, Lothian, driving a Maserati Quattroporte Evoluzione - £601.65
Example three
32-year-old female investment manager, living in Abingdon, Oxfordshire, driving a Ferrari F430 - £783.30
Sharon Clarke, said: “Just because you’ve got enough money to buy one of these supercars doesn’t mean you want to throw money around. I hope that by now covering these cars Admiral can save their owners some money on their insurance.”
Issue date: 15-04-06
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