Insuring my first executive car was an eye opener. It was an Audi A6 with a big petrol engine. Strangely, the insurance was actually the biggest influence in buying the car. You see, before the Audi, I had a Volkswagen. It was nice but it wasn’t big enough to be considered executive. It was developing a few gremlins too, so it was time to consider replacing it.

I shortlisted a few cars as alternatives to the VW. Before viewing any of them I thought it prudent to call the insurance broker. The annual premium on my nine-year-old VW had already gone from £350 to £2,700. Despite a full ‘no claims bonus’ as a private car, I could not transfer this on to a policy for hire and reward. I therefore had to start from scratch. With no insurance discount I assumed the cost would increase again for an executive vehicle.

The VW Volkswagen badge
My VW was a nice car but it wasn’t big enough to be classed ‘executive’

Historically, the insurance was based on the grouping the car fell in to. Factors like your age and address played a part as well. This would all influence the premium. When switching over to hire and reward insurance, it was different and speaking to the insurance broker was enlightening. The age, size and power of the car became irrelevant. The value of the car did not alter the premium either.

I remember asking the broker outright “The car has absolutely no influence on the price”? He replied “Correct”. I remarked “So basically, I could have a Ferrari and it would still be the same”? His reply was “Well, yes, pretty much”. With this revelation, the original shortlist of potential new cars was quickly ditched. A revised list was drawn up and off I went for viewings. Coincidentally, a local garage had the Audi A6 on the forecourt as I was passing.

The Audi A6 executive saloon car
Insuring my first executive car, the Audi A6, cost less than expected

The Audi had a few miles on the clock. Around 150,000 miles to be precise. For many people this would have been a deterrent. For me, the low price was an incentive. The Audi had a full service history and it was still relatively new. I also knew a six cylinder engine would have worked less than a smaller four pot petrol. The body and interior were in excellent condition. All that remained was a test drive.

After thirty minutes behind the wheel, my head and heart were both coming to the same decision. Despite my enthusiasm to buy the car, I asked if a mechanic could check over it – just for that extra peace of mind. The garage agreed and the vehicle was then sitting outside my house. Surprisingly, insuring my first executive car wasn’t as painful as expected. As the car was under seven years of age, it was actually slightly cheaper to insure.