Limo Insurance and All The trimmings: Why You Need Limo Insurance

Top limo insurance information for you

Limo Insurance: Ensuring a limo like Bentley, Aston Martin, Rolls-Royce, Ferrari or Maybach, costs as much as a new car or an apartment. Insurers say that 10% of policies concluded annually are for expensive cars. For a Rolls-Royce, whose insurance value is 500,000 euros, a voluntary insurance policy is about 25,000 euros. The amount of the annual premium voluntary insurance depends on many factors, as franchises may vary if the insurance premium payment is made in parts or in full, depending on any additional risks or on the age of the insured.

The representatives of insurance companies believe that there are two categories of customers for voluntary insurance policies that own an expensive car. “Some of them are the so-called rogue, of whom everybody must see that have expensive cars, to show how wealthy they are. The second category is the business people, who work for good money, and are not in the mood to walk with a normal car”, says the director of an insurance company. As for damage, usually they are very rare, because the owners of these ‘jewels’ on four wheels do not drive them every day and they are very careful drivers. According to the director, the level of damages covered by the limo insurance policy depends very much of the place where the reconditioning is made, at home or abroad. “Voluntary insurance policy covers the reconditioning from abroad, in case this cannot be made in the country. It may take from three days to three weeks before the owner regains his car. These cars are addressed to high class segment, the pieces come on order, and the workmanship hour is much more expensive than for cars that are not part of luxury category”, says the director. In case there occurs a damage, even if the owner has voluntary insurance, he must pay a certain amount from his own pocket.