Our Insurance Expertise

Why prestige vehicle owners should NEVER use comparison sites

If you appreciate the finer things in life, you’ll understand the nuance that you (generally) get what you pay for.

Patek Philippe and Rolex are both high-end luxury watches. But there’s a reason why the Grand Complication Perpetual Calendar Split Second Chronograph costs £150,000 more than a Cosmograph Daytona.

Perhaps somewhat ironically, it’s related to the amount of time that’s gone into the making process. You’re paying for the research, the development and the way every detail has been refined until it’s perfect.

Buying prestige car insurance is much the same.

Here’s why…

Policies from comparison websites are often clause laden

Anyone can go online and buy Ferrari or Aston Martin insurance through a comparison site. It’s quick, simple and very easy to do.

But doing this will not allow you to benefit from the time or expertise that you’d get from a broker who’s built up years of knowledge as an independent specialist in this complex field.

When you buy prestige car insurance through a comparison site, you end up with an ‘off-the-shelf’ policy. Should a claim ever need to be made, there’s every likelihood the policy will contain clauses and warranties that protect the insurer’s interests (instead of your own).

At Nowell & Richards, we don’t do ‘off-the-shelf’ policies.

We take time to listen to you and understand your driving habits.

We take time to scour the market as independent advisors.

And we take time to tailor a personalised insurance solution to suit your lifestyle.

There’s isn’t a comparison website in the world which can do that. They might be a bit cheaper as a result, but they won’t offer same quality or levels of assurance as a specialist broker.

Unlike most standard market insurers, we can provide:

  • Insurance for modified or high-performance cars
  • Agreed and extended value cover in the event of a total loss
  • Annual EU policy – for UK-registered cars
  • Flexible driving options – any driver, any car cover
  • Own choice of repairer
  • Only manufacturer-approved parts used
  • UK and European breakdown cover
  • Enhanced courtesy car provided during repairs
  • Track Day cover
  • Suitable cover personal belongings

Lifestyle factors MUST be considered

At Nowell & Richards, our approach to insurance is different. We don’t just provide a policy and forget about you. We build long-standing relationships, continually monitor the market and make sure you’re always properly protected.

In most cases, the decision about how and where to insure a prestige car boils down to the owner’s attitude to insurance – and whether they’re motivated by price or protection.

If you drive a Porsche or a Lamborghini (or any other prestige brand) we don’t believe that buying car insurance through a comparison site is the right product for you.

Would you look at a list of 30 Ferraris and buy the cheapest one? Probably not. You’d want to be thoroughly informed about all their features and benefits before deciding on the most suitable one for your needs. We think it should be same with insurance.

That’s why we always ask…

  • Is the car your daily drive?
  • Have you got access to more than one vehicle?
  • What other cars do you have?
  • Who will be the main driver?
  • How many miles will they do a year?

Once we’ve considered all these lifestyle factors, we can analyse the broader market to find the most appropriate policy for your needs. No comparison website can do that.

Sometimes, the best approach is to add the vehicle to a multi-car policy. On other occasions, we package your car, home and policies into one ‘portfolio’ policy – with one renewal date and one premium. This can often reduce the amount you pay in premiums because you benefit from better economies of scale – rather than having three separate policies with different insurers.

However, we can only discover if this is appropriate by taking the time to talk to you so that we can understand your lifestyle. Once we’ve done this, we can make sure your assets are safe and help to negate the risks you face. Comparison websites definitely cannot do that.

If you’d like to find out more about our preventative approach to car insurance, please get in touch or call 01785 255514 for a personalised consultation.

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