Collection of Cars Insurance
Collection OF CARS INSURANCE
Preserving Rarity, Ensuring Legacy: Collection of Cars Insurance Mastery
We believe that insuring a classic car collection is not a one size fits all type of job. Some cars are driven regularly, while others are only used for special occasions and can spend most of their time being stored away. Whether you need cover for a Ford Mustang, Jaguar E-Type or a whole collection of classics, we will work with you to build a bespoke policy to fit your requirements.
From different renewal dates and varying valuations, we understand the hard work it can take to manage and protect a collection of cars. Our client focused approach ensures that every vehicle in your collection receives the ultimate level of protection it needs.
At Arkwright Private Clients, our collection of cars insurance has been designed with you in mind and we want to give our clients the confidence that their prized collection of cars is protected properly. We offer agreed value cover, limited mileage cover, laid up protection and multi vehicle discounts all to fit around your collection of cars.
Why You Need Collection of Cars Insurance
Many car collectors sometimes assume that they don’t need specialist insurance cover by safely storing their vehicles away. However, even when cars are securely stored in a garage, it can be exposed to risks such as fire, theft, flooding, and even accidental damage. Standard car insurance policies are generally not suitable in these circumstances, and it can sometimes mean that you’ll end up paying more in premiums than the cover.
Car collection insurance covers multiple vehicles under one policy, making it easier to protect your collection. There are multiple benefits to this type of cover which can include, laid-up cover for vehicles which are stored away and agreed value cover, which insures vehicles for their true market value.
We understand that managing multiple insurance policies for a car collection is very expensive and time consuming. At Arkwright, our bespoke collection of cars policy will cover all your vehicles under one simple policy, as well as reducing the overall costs, giving you peace of mind.
Types of Car Collection Insurance
Not all car collections are the same, and neither should be the insurance policy protecting them. We know that every car collector has different requirements, and may need different levels of cover than others. Our collection of cars insurance is tailored to provide the right protection for each vehicle in your collection.
Laid-up cover
Not all vehicles are driven on a daily basis, and can spend long periods of time being stored away. Our laid up cover can help protect your car collection from risks such as fire, flood, theft and accidental damage while they remain stored away.
Limited mileage policies
Most car collectors may only drive their vehicles occasionally, especially if they are classic vehicles. The reasons could be that they’re only driven at weekends, special occasions, or even car shows. Limited mileage insurance policies take this into account by offering flexible cover to reflect how often the vehicle is used. This can help to keep your premiums low and remain competitive.
Agreed value insurance
Taking out agreed value insurance means that each vehicle in your collection is insured based on their individual valuation. Therefore, in the event of a car being stolen or made a total loss, you will know the exact payout which was agreed upon.
Multi-vehicle policies
Managing multiple vehicles in a collection can be time consuming and expensive. A multi vehicle policy can cover your car collection under a single policy to help manage your insurance cover easier. Instead of having to deal with multiple renewal dates and separate insurance providers, you can benefit from one single policy to reflect the different usage and storage arrangements for all the vehicles in your collection. A multi vehicle policy can ensure that each vehicle will receive the individual protection it deserves.
What You Should Know About Collection of Cars Insurance
Owners of a collection of cars will understand that different vehicles in their collection require their own individual insurance considerations. So, knowing what insurers look at when assessing your collection of cars can help you to choose the right cover, avoiding any unnecessary problems if you ever needed to make a claim.
- Storage Location Matters – Depending on where and how your vehicles are stored can influence both insurance premiums and the level of cover. Cars kept in locked away in a garage or a secure storage facility are viewed as lower risk than those that may be stored openly on a driveway.
- Usage Patterns Vary – Not all cars in a collection are driven in the same way. Some car collectors enjoy regular road trips, while others may only take them out for car shows or special occasions. Ensuring you provide the accurate mileage information will help to reflect this in your insurance policy to determine how the cars are actually used.
- Agreed Value Is Essential – For classic cars especially, the valuation can fluctuate hugely, especially if they are rare, restored, or a highly desirable model. Agreed value insurance works on the vehicle’s upfront value, giving you peace of mind that you will know what to expect back in the event of a payout.
- Modifications Must Be Declared – If you’ve made any modifications to your vehicles such as performance upgrades and improvements, or restorations, it’s important to inform your insurer. Any undeclared modifications can result in your cover being affected and also cause issues with future claims.
- Laid-Up Cover Protects Cars Off the Road – Many car collectors may have their vehicles in storage for long periods of time. Laid up cover will help protect the vehicles when not in use, and against risks such as fire, theft and accidental damage.
- Multi-Vehicle Policies Simplify Management – Managing multiple policies for separate vehicles can quickly become time consuming and complicated. A multi vehicle policy allows you to insure all your collection of cars under one simple policy making it easier to manage and also reducing the overall costs.
With this information you can make an informed decision about the type of cover you require to ensure your investment is properly cared for.
Why Choose Us for Collection of Cars Insurance?
Insurance on a collection of cars requires expert care and specialist knowledge. At Arkwright Private Clients, our tailored approach means we work closely with collectors to offer bespoke levels of cover to reflect each vehicle within your collection. Our policies can include:
- Tailored cover for each vehicle based on its use, value, condition and storage arrangements
- Agreed value insurance for peace of mind in the event of a total loss
- Laid up cover for vehicles stored away or undergoing restoration
- Flexible mileage depending on how often your vehicles are driven
- Multi vehicle discounts all within a single insurance policy
- Access to a specialist repair network who specifically cater to rare and high value vehicles
- Specialised cover built around the needs and requirements of car collectors
Arkwright Private Clients Collection of Cars Insurance
Our team of experts can help you with your Cars Collection Insurance
At Arkwright, our experienced team can help arrange comprehensive levels of cover for your collection of cars no matter what the size. With policies underwritten by leading UK insurers, we can help bring all your vehicles together under one policy renewal date, making it easier to manage when time is precious.
Our flexible cover means that you’ll benefit from adding or removing vehicles throughout the policy term on a pro-rata basis. This can ensure your cover works alongside your car collection and by keeping everything under one simple policy.
Ferrari Car Collection Insurance
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Multi Car Insurance Quote & Cover
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Mixture of Supercar, Hyper Car, Classic Car Collection Insurance
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FAQ
What Is Supercar Insurance?
Supercar insurance is a special type of cover specifically for high value and performance vehicles. This type of insurance takes into consideration the risks associated luxury cars, as they tend to be more targeted by thieves. Supercar insurance offers tailored protection against theft, damage and other potential losses. Some policies can also include agreed value cover, to help protect the true valuation of the vehicle.
Why Does Supercar Insurance Cost More Than Standard Car Insurance?
Supercars are more expensive to insure than a standard car. This is because they are bult with expert engineering and expensive parts which cost much more to repair or replace. Due to their performance levels and specialist parts, this can increase the risk level from an insurance point of view.
What Does Supercar Insurance Cover?
- Agreed value cover to protect the vehicles worth
- Comprehensive cover against accidental damage
- Cover against Theft and Vandalism
- Dedicated roadside cover and recovery
- Track day cover, if required
- Access to specialist approved repair network
- European driving cover, if required
- Tailored cover based on how you use and store your vehicle
Who Needs Supercar Insurance?
For anyone who owns, leases, or finances a high value and performance supercar should consider supercar insurance. This is because, these vehicles are considered an investment, and required specialist cover to help ensure they receive the protection that standard insurance policies cannot offer.
Can a Supercar Be Insured for Daily Use?
Yes! Many supercars are driven daily rather than just on weekends or special occasions. Insurers will usually consider the annual mileage, where the vehicle is kept overnight, and your driving history when working out your policy premiums.
How Is a Supercar's Value Determined?
Most supercar insurance policies offer agreed value cover, where the vehicle’s value is agreed at the start of the policy. This provides reassurance to the owner as the agreed amount is paid out rather than the market value. This can be beneficial for rare or limited edition models.
Are Modifications Covered?
In most cases, supercar insurance policies can often cover certain modifications. This can include performance upgrades through to cosmetic enhancements. All modifications should be declared at the time of arranging cover to ensure they are included in the event of a claim.