Allinsure’s Tate Harris and Peter Chamberlain know their cars. Photo: Allinsure.
So, you’ve won the lottery and are able to sign on the dotted line for the supercar you’ve always dreamed about.
Stop right there.
Not to sound like a cheesy TV ad, but have you considered insurance? Because it turns out a lot of insurers won’t touch you as soon as you’re in a half-a-million-dollar car with a V10 engine.
It’s a problem that has led an award-winning Canberra business insurance broker to research and source products designed specifically with these sorts of high-flying cars in mind.
Martin Tanti, one of the organisers of the Canberra Festival of Speed, drives a 2004 Lamborghini Gallardo. He says it wasn’t easy finding someone willing to insure it.
“A lot of people don’t know you generally need to have owned a progression of highly modified or prestigious vehicles before you can get insurance for a supercar,” he says.
“So when I had to insure mine with my previous insurer, I had to provide information on all the other vehicles I’ve owned, starting with a BMW, then a Porsche Boxster, then a Porsche 911 Carrera, then a Porsche 911 Turbo, and then the Lambo. They wanted to know all of that.
“So if you’re a new supercar owner and just get into one straight from a Camry, then the premium is going to be super high, ridiculously high, or they just flat out won’t do it.”
Martin is now in the process of transitioning his cover to Canberra-based insurance broker Allinsure, which has recently researched and packaged tailored prestige motor insurance, designed for anyone with a prestige, high-performance, classic, imported or modified car (or a collection of them).
“Basically, they want to know about the kind of vehicle and myself – background checks and a few records you’d consider normal for any other insurance company. But it’s nowhere near as long-winded as the others,” Martin says.
“Allinsure is genuinely interested in you, your business, and your supercar and bespoke vehicle.”
Canberra Festival of Speed founders Peter Bakavgas and Martin Tanti inside a Lamborghini Aventador. Photos: James Coleman.
Allinsure CEO Peter Chamberlain, who owns a 2024 Porsche 911 Carrera, says he started hearing about poor claim experiences from customers who didn’t have the right cover in place.
“A lot of our clients have worked very, very hard and to reward themselves, they go out and they buy a car they’ve been wanting forever,” he says.
“But it’s very hard to get a policy for a Lamborghini or Ferrari and the like if you try to get insurance yourself online. We’ve had multiple clients who, when they have had to call on their insurance for help, have really poor claim experiences through their old general, direct-insurance markets.
“We’ve seen nice cars stolen, broken into, or in accidents, and all of a sudden, the insurance provider is saying we’ll only cover up to so many kilometres. Or we don’t insure drivers under the age of 30. Or if the driver isn’t named in the policy, there’s no cover whatsoever.”
Other policies are rendered null and void if any alcohol is detected in the driver’s system – even readings below the legal limit.
Peter says Allinsure has researched and worked with insurance providers to understand their offerings – and it promises to find the best fit.
The tailored policy program was officially launched at January’s Canberra Festival of Speed where Allinsure was the event’s official insurance partner.
It arrives at the same time Shannons closes its Canberra office, a car insurance company known for its products “tailored to the needs of motoring enthusiasts”. While Shannons will still offer insurance cover Australia-wide, the closure means it loses its local in-person connection with Canberra customers.
So far, Allinsure works with eight providers in the prestige motor space to “match a policy to your needs, how you drive, how often you use the car, who uses the car, and whether you go on track days or not”.
Many of the details can be nutted out during a phone call or in-person meeting over a coffee.
“Ours is a really tailored approach to make sure you’ve got what you need, through doing the legwork and comparisons of insurance policies out there, that for a general person, it’s a lot of effort,” Peter says.
Allinsure’s prestige motor insurance includes a track cover option. Photo: Photox.
From here, customers can opt to cover their pride and joy for an agreed value which can either be worked out through annual valuations by the insurance company, or – if that’s likely to be too inconvenient or costly – Allinsure will negotiate a value range upfront with the insurance provider.
There’s also “absolutely full choice of repairer”.
“That’s pretty important because people are very particular about who touches their car.”
One feature Peter expects to be a real winner is the optional track cover. Where standard comprehensive insurance packages stop the moment you drive onto a racetrack, Allinsure can source prestige motor vehicle insurance which can cover up to $100,000 worth of damage.
In Martin’s case, he’s looking forward to his Lambo letting its hair down at either One Raceway or Sydney Motorsport Park once his insurance package is finalised.
“I know other insurance companies who just won’t cover that,” he says.
“Allinsure definitely, definitely understands supercars and their owners.”
Visit Allinsure for more information.
