Some families forget how valuable the motor of their car is. Expensive to replace, the simple thought of having an engine failure or having their car stolen makes many anxious. However, many have found that high value motor insurance policies help them get rid of that anxiety and of the prospect of their car suffering such a failure. Fact is, if you consider an insurance policy for your home, why wouldn’t you consider insurance for your car? However, below you will find a couple of advantages of such policies that regular ones lack.
1. Agreed value for potential loss
These policies have an agreed value upon which the holder is entitled to the exact amount specified in the policy in case of total loss of the car. This comes as a great advantage, since the holder is covered in the event of a theft, directed towards their property. Also, it is applicable if the car becomes unusable in the case of an unfortunate event. Classic or collection car possessors find these policies invaluable, because of the advantages offered in such cases.
2. Comprehensive coverage
Comprehensive coverage comes with plenty of benefits. The main advantage of policies of this kind is that the insurance company will cover the entire amount that equals the vehicle’s value if it is stolen. However, it is important to emphasize the fact that only the value of the current car will be covered, not the equivalent of a brand new vehicle. The more damaged your vehicle was previously to the theft, the less money you will receive. Comprehensive coverage policies also come in handy in case of a collision with an animal, which is not covered usually by regular policies. Weather damage is another important aspect to consider, because weather conditions are unpredictable, especially across the United Kingdom, floods being guilty of plenty of damage.
3. Repairs at your favourite garage
While certain policies allow the holder to repair their vehicles only at specific garages, the high value ones offer the possibility to collaborate with a favourite garage, and have the expenses covered just as if you would pay them. People, generally have specific requirements in terms of garages, and oftentimes they constantly collaborate with the same establishment, if not with the same engineer.
4. Loan car of similar specifications
In the event of a theft or car accident, these policies offer loan cars of the equivalent specifications or standards as yours, until you have the insurance money back. This comes as a great advantage, since many rely on their vehicles for mobility reasons.
Make sure you search the market well before deciding for insurance company where to make your own. Some offer greater advantages than others do. Check with the company where you have your home insurance, maybe they offer such services as well. A little research might help you get rid of the prospect of a scam insurance company or unknown terms and conditions.