Expensive car, expensive insurance?

Electric cars have been gathering momentum for a number of years - but now it seems they’re gathering speed too.

The world’s fastest electric car, capable of racing from 0-100km/h in just 2.8 seconds, has just been unveiled in the Middle East.

Like something from an environmentally themed James Bond film, the Concept One has sleek looks and a top speed of more than 300km/h. You’ll do well to get your hands on one though; only eight have been made.

The list price, too, is somewhat prohibitive – set at an astonishing £633,500. But it hasn’t stopped one buyer stepping forward to claim the first model.

The world’s appetite for high-value cars, it seems, cannot be sated. So while the everyday vehicles' market in Europe is at an all-time low, luxury and executive cars continue to roll off the production lines.

But just like any stock market gamble in this day and age, investment in a high-value car can be a fragile thing – unless it’s properly protected.

High-value car insurance

A high-value car, quite simply, deserves high-value car insurance. So when you’ve spent a considerable sum acquiring your pride and joy, don’t scrimp on the cover.

In fairness, most standard motor insurers acknowledge that their policies lack horsepower, and will not cover cars worth more than £50,000. But even if your car’s value falls just below that threshold, it still pays to take out more specialist cover.

Specialist high-value car insurance not only takes into account the financial value of the vehicle, but also its personal value to you as a car lover.

So, you’ll often find terms in the policy that allows you to choose your own garage for repairs, alleviating the stress of any claim. You could also benefit from rebuild cover, which helps you to salvage your car rather than write it off – a real bonus if you own a rare, prestige vehicle.

To find out more, head to QuoteRack's high value car insurance section, where you can compare cover across a range of specialist prestige and executive car insurers.