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Supercar insurance is specialist insurance for high-performance, exotic, and prestige vehicles — including Ferrari, Lamborghini, Porsche, McLaren, and similar makes. It differs from standard comprehensive car insurance in how the vehicle is valued (agreed value is standard), which repairers are approved, and options for limited use or collection storage cover.
Standard comprehensive policies are designed for everyday vehicles. They typically pay market value at claim time (which may be well below what you paid or what equivalent cars are selling for), use a network of general repairers who may lack the specialist skills and parts for exotic vehicles, and may not cover modifications or limited-use scenarios. Supercar policies are structured around the specific needs of high-value exotic vehicle owners.
Premiums vary widely based on the vehicle's agreed value, the owner's age and driving history, storage arrangements, annual kilometres, and whether track use is included. A Ferrari 488 stored securely and driven 5,000 km/year by an experienced driver will attract a very different premium to the same car driven daily by a younger driver. Specialist brokers with exotic car market access will generally achieve the best combination of cover and premium.
CoverMy connects you with licensed Australian insurance brokers who compete for your business.
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