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Rolls-Royce Car Insurance Prospectus

The ultimate in luxury and class, Rolls Royce Ltd got its name from the founders Charles Rolls and Frederick Royce in 1906. They shared their vision of building the best car in the world; the Rolls Royce Ghost. The British car manufacturing company has its headquarters in Derby. It was not until 1921 that Rolls Royce started building cars in Springfield, U.S.  A British company, Vickers bought the company in 1980 and then in 1998, BMW became the new owner of Rolls Royce. The legacy of these cars is more than a century old and is often favored by royalty and celebrities. Some of the popular Rolls-Royce models include Silver Cloud, Dawn, Shadow saloons and Phantom IV, V, VI limousines.

Rolls-Royce Car Insurance Cost in Canada

Rolls-Royce is a luxury car brand that is not as commonly driven in Canada. As a result, it can be difficult to estimate insurance costs for specific models, as insurance companies may not have extensive data on them. However, based on the value and high-end nature of Rolls-Royce cars, it’s likely that insurance costs will be higher than average.

Here are some estimated annual insurance costs for a Rolls-Royce Ghost, based on a 30-year-old driver with a clean driving record:

  • British Columbia: $4,500 – $5,500
  • Alberta: $4,000 – $5,000
  • Ontario: $6,000 – $7,000
  • Quebec: $3,500 – $4,500

Rolls-Royce Car Insurance Impact

It would not be surprising to know that Rolls Royce does have a higher cost of insurance. A comparative rate of insurance could be found only for an Aston Martin car. Rolls Royce cars are rarely seen and almost never stolen. Who could get away from the cops after stealing a Rolls Royce? Nay!  These cars are seldom tested for crash safety due to the exorbitant price. With not much data regarding safety, these cars have a high cost of insurance due to the expensive sticker price. The value of replacing a new Rolls-Royce is only imaginable with prices starting at an average $200,000. In the event of a crash or damage, these cars could cost nearly a fortune to repair. So, this does reflect on the insurance prices that are high.

Rolls Royce Accident Benefit Performance

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These cars are a rarity and hence the workmanship required for repairing one is hard to find too. It is very difficult to find experts who are able to do justice while repairing these luxury vehicles. The cost of repairs is too steep and parts are very expensive with limited editions of these manufactured at a time. Interior repairs, painting and transmission works for these cars are very expensive. It is important to fit these cars with tires having V or higher speed ratings as they are very heavy in build. The parts cost several hundred $$$ and replacing certain units would need a special Rolls Royce tool.

Rolls- Royce Collision And Comprehensive Claim Costs

The collision and comprehensive coverage costs for Rolls- Royce would be higher than average. The average cost for most parts is more than hundreds of dollars. So, repair costs are very high even for a small tuning of parts. Most of these parts are proprietary that drives up the cost factor too. Also, these cars are not manufactured in huge production batches when compared to other cars. Hence the selection of aftermarket parts available is only directly through approved Rolls-Royce dealers and very limited. Though owning a used Rolls-Royce may be afforded by some, the cost of actually getting one certified for road use may cost double the sticker price. The cost of insurance is no less either with higher premiums on this luxury car.

About the Author: Robert Davis

He is an insurance content professional with vast knowledge and a special aptitude and interest in imparting insurance education. He has authored many articles on insurance.

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