These days, buying a luxury car is becoming a trend. Thanks mainly to a host of luxury car options, many don't even think twice before purchasing their fancy cars.
However, maintaining a luxury car may cost a lot. In fact, one of the key issues with high-end cars is the high cost of repairs — even minor damages can burn a hole in your pocket.
Buying insurance for luxury cars is quite simple, as most covers are bundled with accessories and other car servicing packages.
However, given the huge bills, their repairs could run up to a lot, and it would, therefore, be wise to look for more a wholesome coverage. There is a limited network of authorized repair workshops for luxury cars and the possibility of getting the damaged parts repaired is low.
A comprehensive cover with value-added features, therefore, is often recommended by experts. Over the last couple of years, car insurance covers have become highly comprehensive, offering a range of add-ons that are crucial, especially for a luxury car.
While ignoring comprehensive insurance would be a mistake, resisting the urge to splurge on all heavily-promoted add-ons is advisable. To strike the right balance, you need to do your own homework.
Here's some help in understanding the add-ons:

Depreciation Reimbursement
It is a must for every luxury car, according to insurers. Depreciation reimbursement cover offers to settle the full claim without any deduction for depreciation on the value of parts replaced.
Availing this add-on would be of help particularly when you need to replace high cost parts of your luxury cars.

Engine Cover
Then, there is the cost of repairing the damage to the engine, particularly due to flooding. "Such vehicles are also prone to damage due to water ingress and the cost of repair/replacement of engine is to the tune of 30-40% of the cost of the vehicle. Hence, engine cover must be taken by the owners of luxury cars.

Roadside Assistance
Typically, roadside garages are not capable of handling repair works for luxury cars. The servicing of such vehicles calls for a certain skill set, which is available only with the company-authorised service centres.
Private towing services are also available for car owners who don't opt for roadside assistance service as part of the car insurance policy. However, these agencies may manhandle the car, which could lead to further damage even before it reaches the service centre.
Owning a luxury car can be quite easy if you have the right insurance policy and add ons.

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