So you own a Lamborghini Car? Hats off just to that!
Planning to renew the insurance of your good old Lamborghini Huracan or looking for the best car insurance for your brand new Lamborghini Aventador – you’ve landed in just the right place.
Let’s dive into the car insurance basics for your Lamborghini car.
Mandatory by Indian Motors Act. It’s not mandatory to buy coverage for your own car’s damages, but then we all know the state of Indian roads. And, who doesn’t love their Lamborghini car?
Additional coverage like bumper-to-bumper cover, engine protector is NOT available. Additional coverage, like engine protector, bumper-to-bumper cover, no-claim bonus protector cover are available, at a slightly extra premium cost.
Why You Should Insure Your Lamborghini Car?
Be sure that you’re rightfully compensated if your Lamborghini car was stolen or damaged beyond repairs.
Get coverage for a third-party if your car caused an accident and the third-party was injured or their property damaged.
Get comprehensive coverage, in case damages were caused to your car [during an accident or because of natural calamities].
Be sure that no traffic policeman heavily fines you for not having a car insurance policy. Strictly, say no to bribery!
Irrespective of the model of Lamborghini you have, depreciation is applicable on all kinds of metal, plastic, and fiber glass parts. In case of repairs / replacement claims, you would have to pay for the depreciation cost. However, with zero depreciation add-on, you can get that covered.
So that, if your car was stolen or completely damaged, the claim settlement amount from the insurance company is not as little as the current market value of the car. Instead, it would be as much as its invoice value. This is possible even in a case where your car was two years old, with a 20 percent lower current market value.
A regular comprehensive car insurance policy does not cover the damages to your engine. With an engine protector cover you could claim for those damages too. Read more on what is engine protector in car insurance and what will be its benefits. Whether you own a high-end car like Lamborghini Aventador or regular car like Lamborghini Huracan, it makes sense to buy this add-on. This add-on is also suitable for cars located in flooding prone areas.
If you are a good driver and have a tendency to claim less, you would certainly know about the no-claim bonus that you can earn for every claim free year. This bonus helps you in earning as much as 50 percent discount. However, a single claim can reduce the accumulated NCB to zero in the next year. The solution to safeguard that NCB is to buy this add-on. High-end Lamborghini cars have higher own-damage premium. So if you have accumulated enough NCB and don’t want to lose it for a claim, this is a good-to-have add-on. Also, this can come in handy as one of the tips to reduce car insurance premium amount.
This personal accident cover for passenger is a must-buy for any Lamborghini car owner. A lower end model of Lamborghinimay not come with safety features like airbags or child safety locks. If you use your Lamborghini car to drive your family on a daily basis, it makes sense to buy this add-on.
A lot of insurance companies offer specific add-on coverages at an additional premium cost. Depending on the model of Lamborghini you have, do enquire with your insurer about these coverage options. Key replacement, roadside assistance, personal accident cover of passengers could be a few such options.
How can I renew my Lamborghini Insurance online?
Your Lamborghini Car Insurance Policy can be renewed online very seamlessly through your insurer’s online portal or your broker’s portal.
If you have already selected an insurance company you can go to the insurer’s portal and renew it online by filling in the details.
All you need to fill are your car details (like Vehicle Registration Number, Engine/Chasis Number), your previous insurance details and your contact details. Once done, you can then renew the policy online by paying via netbanking, wallet or credit/debit card.
The car insurance of my Lamborghini Aventador has already expired. Is vehicle inspection mandatory?
Yes. Inspection is mandatory if the insurance for your car has already expired. You need to schedule an inspection before purchasing the policy. Once the surveyor approves, you can purchase the plan immediately online.
Is an online insurance policy valid for car?
Of course it is valid. You get a valid car insurance policy by renewing the policy online. All you need to do is fill in your previous policy car details and get a valid insurance policy emailed to your registered email id. A printout of that would suffice.
How do I get no-claim bonus at the time of renewal?
If you have not claimed in the preceding year, then you can avail a No-Claim Bonus (NCB) at the time of your next renewal. Keep one thing in mind: your car insurance renewal has to happen before the previous policy expires. If your policy lapses, you lose your NCB.
At the time of renewal of your Two-Wheeler Insurance Policy, you need to mention your last NCB and whether you have made any claim in the last year or not. You get discount on the own-damage premium as per the NCB grid provided by IRDA.
How much more do I need to pay for comprehensive car insurance?
The premium for a simple third party only insurance is fixed by the IRDAI. A comprehensive insurance policy includes own-damage premium too. The own-damage premium varies slightly from one insurance company to another and is dependent on a lot of factors, including your claims history and the age of your car. The overall premium for comprehensive insurance is slightly higher, but highly recommended if you are looking for complete coverage for your Lamborghini car.
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