Warranty Solutions Group (WSG) has launched a new supercar and prestige warranty cover due to the rising demand in this specialist segment of the market.
WAG said research from UHY Hacker Young saw supercar registrations increase by 4% year-on-year to 23,320 units in 2024.
Ferrari remains the most popular supercar brand in the UK, with 14,714 cars currently on the road.
However, Lamborghini ownership is experiencing the fastest growth, with an 8% increase to 5,421 cars in 2023/24.
Despite concerns over potential tax increases impacting high-net-worth individuals, supercar sales have surged to record levels.
The new WSG supercar product covers over 6,000 mechanical, electrical and electronic components.
John Colinswood, WSG chief executive, said: “Our product is tailored specifically for high-end vehicles and their discerning owners.
“With higher claim limits to reflect the more expensive components, enhanced labour rates and wear & tear cover for the life of the agreement irrespective of the vehicle’s age or mileage, it ensures peace of mind for those who demand the best.”
Colinswood said one major benefit of this new supercar product is the inclusion of a premium dual recovery breakdown service, which is exclusive to WSG.
This means that if a customer breaks down anywhere in the UK, WSG will arrange to recover them and get the vehicle home in the first instance, and then arrange for the vehicle to be recovered back to either the selling dealer or a repairer of their choice at their convenience.