Many factors can affect your premium. Many companies, if they are unaware of your exotic car, it is hard for them to understand really what’s being insured. The Rubin Group has been insuring exotic sports cars since we opened as well as keeping up on industry news & trends. Not all companies use these factors, and some might use factors not listed here, so policies may vary. Your premium may depend on:
- How much you use your car.
Statistically, the more you drive, the more chance you have to be in an accident. Whether you drive 5 or 50 miles a day the amount you drive is a direct factor to your accident risk. For most exotic sports cars, we understand this isn’t your commuter car, which is why it’s extremely important to specify that your exotic sports car is for “pleasure use”.
- Driving record.
A better record means a lower premium. If you have had accidents or serious traffic violations, it is likely you will pay more than if you have a clean driving record.
In general, mature drivers have fewer accidents than less experienced drivers, particularly teenagers. So insurers generally charge more if teenagers or young people below age 25 drive your car.
Woman, in general, tend to get into far fewer accidents than men. Men tend to have more DUI related and serious accidents. Don’t let this discourage you because over time individual driving history will have a greater impact on what you pay for auto insurance.
- Where your car is parked and where you live.
Depending on where you leave your car & where you live can greatly influence your premium. Generally, due to higher rates of vandalism, theft and accidents, urban drivers tend to pay a higher premium on their exotic auto insurance policy compared to small towns or rural areas.
- The car you drive.
One of the largest factors to your premium is the car you drive. This is where most insurance companies fail. In order to correctly insure a car, you have to know everything about that car from your push start ignition to the catalytic converter. The Rubin Group’s knowledge of exotic & classic cars goes beyond our competition. There are many variables that we include such as the likelihood of theft, the cost of the car, the cost of repairs, and the overall safety record of the car.
For many insurers, credit-based insurance scoring is another determining factor. This predicts the likelihood of a person filing a claim and the likely cost of that claim. Credit-based insurance scores are based on information like payment history, bankruptcies, collections, outstanding debt and length of credit history.
- The type and amount of coverage.
In virtually every state, by law you must buy a minimum amount of liability insurance to cover harm you may cause to others. Buying higher limits will not only cover you, but other passengers as well as your exotic car. It may cost more, but not proportionately more. We highly advise purchasing Collision, Comprehensive, Medical, & Liability coverages to cover your assets.
Let the Rubin Group save you time. Call us and let us do the shopping for you. We’ll find you the best rate and coverage packages immediately. Call us today (877) 395-5873 or fill out our quick & easy form at www.therubingroup.com.