Zero2Turbo
    Facebook Twitter Instagram
    Facebook Twitter Instagram RSS
    Zero2Turbo
    • Home
    • Contact
    • Videos
      Featured

      McMurtry Fan Car Grabs Goodwood Hill Climb Record, Road Car Planned

      By Zero2TurboJune 27, 2022
      Recent

      McMurtry Fan Car Grabs Goodwood Hill Climb Record, Road Car Planned

      June 27, 2022

      The First-Ever BMW M3 Touring Is Finally Official

      June 22, 2022

      Watch The BMW M3 Touring Grab The Wagon ‘Ring Record

      June 20, 2022
    • South Africa
    • Zero2Turbo Telegram
    Zero2Turbo
    Home»Zero2Turbo»Supercar Insurance: The Cost of Owning a Supercar
    Zero2Turbo

    Supercar Insurance: The Cost of Owning a Supercar

    By Zero2TurboJune 18, 2018Updated:June 21, 2018No Comments
    Facebook Email Twitter LinkedIn Telegram WhatsApp
    Share
    Facebook Email Twitter LinkedIn WhatsApp Telegram

    Yes, car insurance is a mandatory requirement almost all over the world but when it comes to supercars, insurance tends to take the lion share as far as maintenance costs are concerned. According to Mychoicecarinsurance.ca, which has years of experience insuring high-end vehicles, the insurance cost for a 1 million dollar vehicle can easily top $25,000 per year. Supercars are those really fast cars that cost thousands of dollars or more to procure. Sometimes it’s even against the law to drive them on public roads. What’s even more peculiar about these cars is that not unless you’re among the wealthiest pips out there, maintenance and insurance can really prove to be a pain in the ass.

    In other words, to get the best experience owning a supercar is not enough. You need to be sure you afford its proper maintenance. You need to be sure you can afford the supercar insurance. And in case someone sugarcoated things about owning one of the fastest, most expensive cars in the world, the truth is that not all who afford the price tag can actually afford its maintenance and high insurance costs. With more bias on supercar insurance, the cost of owning a supercar is mostly about the maintenance part of it, rather than the initial purchase. Understanding the cost of owning a supercar involves understanding the things that affect supercar insurance as follows.

    Choose a Good Insurance Provider

    Just like owning any other type of car, owning a supercar will cost you time, effort and money. You’ll have to brush through online reviews, ask for referrals and do your own research to determine which ones are the best auto insurance companies that also provide covers for supercars.

    Consider the Amount of Coverage

    Before deciding to pick a particular auto insurance company as a supercar owner, you’ll want to be extremely careful in one thing – the amount of coverage they’re offering versus the annual premiums you’re required to pay.

    Get the Requirements Right

    Every vehicle insurance policy comes with its own specific requirements. However, most of them consider the basic driving eligibility requirements for starters to be eligible for supercar insurance. In most places, the best auto insurance policy fulfills the following minimum:

    • Accident benefit
    • Direct compensation coverage
    • Third-party liability coverage $200,000 minimum
    • Uninsured auto coverage

    Limit Your Mileage

    Supercar insurance tends to get more expensive with an increase in mileage use. Most auto insurance companies provide you with the option of picking your preferred cover based on annual mileage use. The more your ride on your supercar, the higher the insurance costs. Limiting your mileage can be an effective cost-saving approach.

    In addition to the above, you’ll want to keep your driving record clean and free from negative remarks or write-ups. Your driving reports can stagnate, raise or lower your auto insurance premiums. It’s also worth noting that getting a supercar at a tender age can cost you more in supercar insurance compared to getting it a bit later in life. The make and model of your vehicle also matter to insurance companies when assessing the level of coverage to give you. Nonetheless, owning a supercar can be a hilarious experience. Why not own one if you can afford one?

    Share. Facebook Email Twitter LinkedIn WhatsApp Telegram
    Previous ArticleBugatti Veyron Grand Sport Vitesse Crashes Into Water Barriers At 180 KM/H
    Next Article Uber-Rare McLaren F1 LM Up For Sale For At Least R188 Million

    Related Posts

    Upcoming BMW 3.0 CSL Gets Neat Front and Rear Rendering

    July 6, 2022

    BMW M Fest Returning To Kyalami from 15 to 16 October 2022

    July 5, 2022

    6 Tips to Stay Safe On The Road

    July 1, 2022

    A Quick Guide to Car Batteries

    July 1, 2022

    Tips On Becoming An Auto Glass Repair Person

    July 1, 2022

    Safety Steps Every Roadside Recovery Worker Should Take

    July 1, 2022

    Leave A Reply Cancel Reply

    Popular Posts
    • BMW M4 Competition xDrive Hits 60 MPH In Ridiculous 2.8s
    • 2035 Sees Sales Of New Combustion Cars Banned In The European Union
    • 1,250 HP Red Bull RB17 Hypercar Coming 2025
    • Limited BMW 3.0 CSL Hommage Car Is Happening – First Official Teaser Released
    • New BMW M5 Touring Rumoured To Enter Production In 2024

    Latest Instagram Photos
    • Mercedes-AMG GT Black Series P One Edition snapped at the Franschhoek Motor Museum.

This indicates that the owner has a Mercedes-AMG One hypercar on order. Let's hope it makes its way to SA!

Video via @nicholas_2705 

#ExoticSpotSA #Zero2Turbo #SouthAfrica #MercedesAMGGTBlackSeriesPOneEdition #POneEdition #GTBlackSeries #Franschhoek #FranschhoekMotorMuseum
    • The very rare and rather special Jaguar XKR-S GT made an appearance this weekend in Pretoria. This is the ONLY one in SA 🇿🇦

Snapped by @car_love_s.a 

#ExoticSpotSA #Zero2Turbo #SouthAfrica #Jaguar #XKRSGT
    • #FrontEndFriday from @bmwbryanston 😎

Are you an X3 M Competition or X4 M Competition person?

#ExoticSpotSA #Zero2Turbo #SouthAfrica #BMWBryanston #X3MCompetition #X4MCompetition #BMWX3 #BMWX4
    • Caption this... 😋

#ExoticSpotSA #Zero2Turbo #SouthAfrica #BMWi8 #HighlighterYellow #What3Series #PolarOpposites
    • Aston Martin calls it the 'fastest luxury SUV in the world' and 'the supercar of SUVs' but is the DBX707 worth all this hype?

It is the fastest and most powerful SUV you can currently buy (order) in SA so there is that but the reality today is that the 707 will have to dice with the Urus, the Bentayga Speed, and the Cayenne Turbo GT for hearts, minds, and wallets.

Aston estimates 65% of DBX sales going forward will be this 697 hp (520 kW) and 900Nm variant and after driving it, this might be an underestimate. If the regular DBX is in your price range, then you can almost certainly afford a DBX707.

It can hit 100 km/h in 3.3s and go to a ridiculous 310 km/h so, of course, it is properly quick but it is just as impressive when the roads get twistier and it instils an enormous amount of confidence in the driver.

If you fancy snapping up this contender for the Super SUV king title, you are going to need at least R5m making it significantly more expensive than the Lambo and Porsche counterparts but you will be driving something a lot more rare which could be the reason you hand your money to Aston Martin.

What do you all think?

#ExoticSpotSA #Zero2Turbo #SouthAfrica #Z2TDriven #AstonMartin #DBX707 #AstonMartinDBX707
    • Mercedes-AMG GT R F1 Safety Car spotted at Zwartkops this weekend by @airaga95 

#ExoticSpotSA #Zero2Turbo #SouthAfrica #MercedesAMG #GTR #F1SafetyCar

    Follow Us

    Facebook Twitter Instagram YouTube RSS
    Designed by Zero2Turbo.

    Type above and press Enter to search. Press Esc to cancel.