What Vehicles are Considered Luxury?
When people think of luxury cars, the price tag often comes to mind. However, the cost of a vehicle is just one aspect of what defines a prestige car. Factors such as performance, the quality of the exterior and interior, cutting-edge technology, and world-class manufacturing standards also play significant roles.
Luxury is often closely associated with well-known brands, which produce some of the most exceptional performance vehicles on the market, including supercars, SUVs, and even high-end station wagons.
These brands are renowned for introducing luxury supercars that set the standard for excellence in the automotive industry, and some of these brands include: Ferrari, McLaren, Porsche, Rolls Royce, Lamborghini, Mercedes-Benz, BMW, Lexus, Audi, Jaguar, and Aston Martin.
Classic cars may also fit in this category, though they’re best protected under tailored classic car insurance instead. Classic cars are vehicles that have reached a timeless status of more than 30 years.
What Does Luxury Car Insurance Cover?
In addition to compulsory CTP insurance, standard car insurance policies generally include comprehensive insurance and third-party property coverage (with or without fire and theft options). However, third-party car insurance is often not recommended for luxury car owners, as it does not cover damages resulting from accidents.
Unlike many general motor insurance company policies, specialised luxury car insurers include important additional benefits and covers you might need for your prestige vehicle. For this reason tailored luxury car insurance is the best choice for luxury car owners.
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Contact Matrix Insurance today on (08) 6555 7742 to speak with an insurance broker who can help you.
