If you are fortunate enough to own a supercar, having the correct insurance in place can make all the difference should you need to make a claim.
UK insurers have reportedly made their highest ever claim settlement for a single vehicle, paying out a huge repair bill of £900,000 to restore Rowan Atkinson’s McLaren F1. The actor and comedian, best known for his portrayal of the characters’ of Black Adder and Mr Bean, crashed the classic vehicle over a year ago, having spun off the road and hitting into a tree.
The fact that the insurers were providing cover on an “agreed value”, meant that the actor was not out of pocket. The limited edition McLaren, purchased 15 years ago, has soared in value with an estimated current replacement price of £5.5M.
The insurance market for supercar insurance is extremely limited with no more than a handful of insurers offering quotes. Cover and indeed service, is critical when you are insuring such high value cars and it’s essential that you are protected by a specialist insurance company with extensive experience in this area.
For more information about insurance for high value and prestige cars, please contact Carl Sharp, Private Client Manager on 0118 9165 487 or complete one of our enquiry forms.
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*Information correct as of 1st May 2016