Understand the cost to insure a Rolls Royce. Learn about the impact of technology, speciality parts, and prestige on premiums. Get an optimal insurance plan.
Why Rolls Royce Insurance Costs More Than Standard Cars
Rolls Royce vehicles are among the most expensive cars to insure due to their high value, advanced technology, and costly repairs.
Unlike standard cars, they require specialist parts and skilled technicians for maintenance, increasing repair costs. Additionally, their luxury status makes them a target for theft, which raises insurance risks.
The limited production of Rolls Royce models also affects insurance costs. With fewer available parts and higher labour expenses, claims for repairs can be significantly more expensive.
Insurance providers account for these factors when calculating premiums, making cover for a Rolls Royce substantially higher than for standard cars. The combination of exclusivity, prestige, and repair expenses contributes to the increased cost of insuring a Rolls Royce.
Factors That Affect Rolls Royce Insurance Premiums
Several factors influence the cost of insuring a Rolls Royce. The model plays a significant role, as higher-value models cost more to repair or replace.
The car’s age also affects insurance rates, with newer models featuring advanced technology that may increase repair costs. Driver history is another important factor.
Those with a clean driving record often receive lower premiums, while past claims or traffic violations can lead to higher costs. The location of the owner also impacts premiums, as areas with high theft or accident rates may result in increased charges.
Additionally, the level of cover chosen, whether fully comprehensive or third-party, affects the overall cost of the insurance policy.
The Average Cost of Rolls Royce Insurance
Insuring a Rolls Royce is considerably more expensive than insuring a standard vehicle. The average cost can range from £5,000 to £20,000 per year, depending on the model, location, and driver profile.
Some of the most exclusive models, such as the Phantom or Cullinan, may even exceed these figures due to their high value and repair costs.
The specific insurance provider and level of cover also play a role in determining premiums. Comprehensive policies with agreed-value cover and specialist luxury insurance services generally cost more but provide extensive protection.
Compared to the average car insurance premium in the UK, which typically falls between £500 and £1,000, Rolls Royce owners should expect significantly higher insurance expenses.
How the Model and Age of Your Rolls Royce Impacts Insurance
The model of a Rolls Royce has a major influence on insurance costs. High-end models like the Phantom or Ghost, which feature premium materials and advanced technology, are more expensive to insure than models like the Wraith. The cost of replacement parts and specialist repairs makes certain models more expensive to cover.
The age of the vehicle also affects premiums. Newer Rolls Royce models have the latest safety features, which can sometimes lower insurance costs, but their high value and expensive repairs often outweigh these benefits.
Older models may have lower market value, reducing premiums, but scarcity of parts and specialist maintenance can still result in high insurance costs.
Ways to Reduce Rolls Royce Insurance Costs
There are several ways to lower the cost of insuring a Rolls Royce. Installing advanced security features such as GPS tracking, immobilisers, and secure storage solutions can help reduce premiums.
Insurers offer discounts for added security, as it lowers the risk of theft and damage. Choosing a higher excess amount can also reduce premiums, though this means paying more out-of-pocket in the event of a claim.
Additionally, maintaining a clean driving record and limiting mileage can help lower costs. Some insurance providers offer agreed-value policies, ensuring the car’s value is protected while providing a stable premium. Shopping around for specialist luxury insurers can also result in better rates tailored to Rolls Royce owners.
If you are looking for Rolls Royce and Bentley Servicing in Newington, Kent and Sussex? Call our specialists today on 01795 844 844 to discuss your requirements.
