Luxury vehicle owners present different needs when it comes to motor insurance. High value motor insurance, specifically designed to offer more than a standard policy, has multiple features, which correspond to the expectations of a luxury car driver.
Ashley Cole, Head of Motor at Hiscox, outlines for News insurances what makes that difference, and explains whom their average customer is. High net worth motor insurance is designed to cover vehicles such as the famous Bugatti Veyron, said to be the fastest car, or maybe century old antique cars that make the pride of collectors.
High net worth motor insurance is available to household insurance policy holders at Hiscox, and then to owners of a vehicle that had a price of at least GBP 30,000 when new.
The cover provided by Hiscox presents a certain form of complexity, so the distribution is done through brokers exclusively. This is the best way to gather the needed information as brokers may have a more privileged contact with customers.
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