INSURING YOUR CAR
Choosing car insurance for your high performance vehicle
Does your car have a knack for turning heads? If you’re a bit of a performance car enthusiast, there are a few things you should consider when choosing your car insurance policy.
What is a high performance vehicle?
High performance vehicles are also known as muscle cars, prestige cars, or luxury sports cars. Take a Lamborghini for example. This sort of high performance car is a symbol of power, speed and luxury. Even if you’re not much of a car buff, you’ll know a luxury car when you see one.
What’s the best car insurance for luxury vehicles?
Since high-performance cars tend to be worth more and are prime targets for theft, your car insurance premium could be costlier compared an average counterpart. This is essentially because you are insuring a more valuable asset. As such, comprehensive car insurance is usually the best option for high-performance, luxury cars.
Some insurers will even provide a premium option for the highest level of coverage. With GIO’s Platinum Comprehensive Insurance, you’ll have access to all the Comprehensive cover benefits – plus extras as standard. That includes window glass and windscreen cover, lifetime new car replacement (for eligible policy holders), unlimited days of car hire and accidental loss and damage.
GIO Comprehensive Car Insurance isn’t suitable for everyone though. For example, we don’t provide insurance for cars older than 1976 and muscle cars. You can learn more about whether your insurance may be right for you using the link below, and get a quote to see if we cover your vehicle.
Lifetime new car replacement
If your car is stolen or you’re involved in an accident, and we settle your claim as a total loss, you could be eligible for lifetime new car replacement. This means you could get a brand new car of the same make and model, the most similar new car if it’s unavailable, or a cash settlement. Under this policy, your CTP/MAI Insurance, delivery charges, initial registration and stamp duty would be sorted, too.
It’s important to note, you’re only eligible for lifetime new car replacement cover if:
- You’re the first registered owner of your car or you purchased your car as an ‘ex-demonstration’ model from a licensed motor dealer who was the first registered owner of the car; and
- Your car has been continuously insured under our GIO Platinum level of cover, from within 13 months of your car first being purchased until the time of the insured incident; and
- Anyone who financed your car provides us with written consent.
For more info on your eligibility, read your Product Disclosure Statement (PDS).
To weigh up the best option for you and your vehicle, get an easy online quote today.
- Lifetime new car replacement insurance explained
- How you can prevent your car from being stolen
- Why it’s important to have roadside assistance
Insurance issued by AAI Limited ABN 48 005 297 807 trading as GIO. Consider the Product Disclosure Statement before buying this insurance. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.