Supercar insurance quotes from licensed Australian brokers

What supercar insurance usually covers

Cover is typically comprehensive, so it responds to damage to your own car as well as damage you cause to other people and their property. The differences between a mainstream policy and a specialist one tend to sit in the detail rather than the headline. Ask your broker to walk you through each of these, because the wording decides what happens at claim time.

• Agreed value, so the figure on the schedule is the figure paid on a total loss
• Choice of repairer, or a nominated marque specialist rather than a general smash repairer
• Genuine parts, and how the policy treats parts that have to be freighted from Europe
• Salvage retention, which matters on rare cars that are worth more damaged than written off
• Transport and storage after an incident, including enclosed transport on some policies
• Cover while the car is being serviced, detailed or transported

Agreed value is the part that matters

Market value pays what the insurer says the car was worth on the day it was destroyed. On a depreciating hatchback that is a reasonable proxy. On a limited build car that has appreciated since you bought it, or on a specification that is hard to find in Australia, market value can land a long way below what it would cost to replace. Agreed value fixes the sum insured up front, usually with a valuation. Values move, so the number is normally reviewed each renewal.

What drives your premium

Underwriters look at how likely a claim is and what it would cost to fix. Annual kilometres carry real weight here, because a car doing 3,000 kilometres a year is a different risk to a daily driver. So does where it sleeps. A locked garage with an alarm reads differently to a car park. Your driving and claims history over the past five years, the drivers you want listed, the excess you are willing to carry and whether you have other cars on the same policy all feed in.

Track days, storage and limited use

Most road policies exclude competitive events and timed track use, and a fair number exclude any circuit driving at all, including sprints and manufacturer experience days. If you intend to take the car on track, say so at the quote stage. Separate track day cover exists and can sit alongside a road policy. Limited use terms work the other way. If the car genuinely does low kilometres or is off the road over winter, some insurers price for that, though laid up cover usually still needs to respond to fire and theft while the car is stored.