Temporary Supercar Insurance (£65K+)- 2022

[uk_james]

Hi Team,

I am the owner of a 2017 Audi R8 V10 Plus, with a value of approx £90K.

The car is currently SCORN and in storage, however, i the intention is to bring it out to play before the end of the summer.

I am attempting to arrange temporary insurance coverage for around 1-3 months on the car.

Despite my best attempts, all temporary insurance companies i have contacted state they have a limit of £65K.

One specific company stated they provided 'Temporary Supercar Insurance', and showing a nice picture of a Ferrari 488 on their website, yet again, when asked, there was a limit of £65K.

Frankly, there are not many modern supercars worth less that £65K, so I made it very clear they are entirely misleading people. It's highly frustrating.

Is anyone aware of companies which can offer this, at a sensible price?

This cannot be a particularly uncommon requirement.

Kind Regards

James

[CLX]

Can you not just take out a normal annual policy and then cancel it, with a refund to follow? Pay by monthly DD, possibly?

[Chamon_Lee]

CLX said:

Can you not just take out a normal annual policy and then cancel it, with a refund to follow? Pay by monthly DD, possibly?

first thing that came to my mind too

[alscar]

Is your car currently insured by you or by the storage company as part of their fees ?
If the former presume you have asked them for temporary road cover ?
If the latter then as the 2 other replies sounds very sensible.

[bencollins4]

As has been said, you’re very unlikely to get an insurer to agree a short-term policy for such a car. It’s not worth the risk for them. Buy an annual policy (checking cancellation t’s and c’s) and go from there, Or do as the rest of us with summer cars do and insure them annually, so cover is already in place until this time next year and you can take it out again next Summer.

[uk_james]

Thanks Gents,

I had considered the annual options with cancellation, however, I assumed there were likely heavy cancellation fees.

T&C's will hold the answer.

Was obviously hoping for a different answer, but appears to not exist, for the commercial reasons discussed.

[QuattroDave]

uk_james said:

Thanks Gents,

I had considered the annual options with cancellation, however, I assumed there were likely heavy cancellation fees.

T&C's will hold the answer.

Was obviously hoping for a different answer, but appears to not exist, for the commercial reasons discussed.

Annual policy cancellations tend to be days not used at day rate plus cancellation fee plus potentially a processing fee. Say it's £1/day to insure and you cancel after 90 days your base refund would be £275 but then they'd take off say £60 cancellation fee you'd get back £215 or just under 60% of your premium!

Just found this for some of the more well known insurers https://www.nimblefins.co.uk/average-cost-cancel-u...

[123DWA]

CLX said:

Can you not just take out a normal annual policy and then cancel it, with a refund to follow? Pay by monthly DD, possibly?

Back in 2016 I needed temp cover for an i8 (back when they were still £100K+ and making overs) for just over a month and I came up against the same limitations (although I think the max was £50k at the time). Ended up doing the above and it cost about £300 with all the cancellation fees etc but had no other choice.