Panic, cry and then call your broker on a Saturday morning while he is fishing?
That’s exactly what one of our clients did. Driving down the road, the last thing you expect to see in the rear-view mirror is flames and smoke (that’s the panic bit). When you pull over, exit the vehicle, pick yourself up and watch the thing of beauty that is a Ferrari burn (that’s the crying bit) then you call your broker and hopefully hear those calming words “don’t worry you are fully insured just get it towed and we will deal with it first thing Monday morning”.
I am pleased to say our client was comprehensively covered through one of our underwriting agencies who uses Lloyds of London as security. The claim was set in motion on the Monday, forensics carried out the following week to determine the cause (in this case it was a fuel issue) and the claim was paid out within 30 days of the incident.
As a broker we are always on the lookout for insurers that act in a timely manner and I must say we are extremely pleased with the outcome- as is our client. There are so many insurers out there who will cover your vehicles, but when it comes the exotic or prestige motor vehicles like Ferrari, Porsche, Lamborghini, Aston Martin and the likes you, need to make sure that you have suitable coverage from an insurer that understands these types of vehicles and what you put into them - time wise, financially and emotionally.
Make sure your covered properly in an event like this.
- What am I covered for?
- Is it Agreed or Market Value
- Are my modifications and accessories listed
- Who are the noted drivers and are non-noted drivers covered
- Check to ensure your vehicles is registered (this will affect your CTP)
If you have any queries or would like an alternate quote do not hesitate to Contact Wallace Risk Solutions
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