Luxury & Exotic Car

Protecting Your High-End Vehicles

Luxury and exotic cars are more than just modes of transportation—they are symbols of style, performance, and unparalleled craftsmanship. These high-value vehicles require specialized insurance coverage to ensure they are adequately protected.

What Does Luxury and Exotic Car Insurance Entail?

Luxury and exotic car insurance offers tailored coverage options that go beyond standard auto insurance policies. Key features include:

• Agreed Value Coverage: This ensures that you and the insurer agree on the value of your car at the time the policy is written. In the event of a total loss, you receive the agreed-upon amount without depreciation.
• Flexible Usage: Coverage for occasional pleasure use, such as weekend drives, car shows, and exhibitions.
• Specialized Claims Handling: Access to expert claims handlers who understand the unique needs of luxury and exotic car owners and can help source rare parts.

What Kinds of Vehicles Require Luxury and Exotic Car Insurance?

Luxury and exotic car insurance is ideal for various high-end vehicles, including:

• Exotic Cars: High-performance vehicles such as Ferraris, Lamborghinis, and Bugattis with high market values and unique maintenance needs.
• Luxury Cars: High-end vehicles like Bentleys, Rolls-Royces, and Mercedes-Benz S-Class models that offer superior comfort and advanced features.
• Custom and Modified Cars: Vehicles significantly altered from their original factory specifications.

Challenges of Insuring Very Expensive, High-End Cars

Insuring high-end cars comes with unique challenges, including:

• Higher Repair Costs: Luxury and exotic cars often require specialized parts and repair services, which can be significantly more expensive than standard vehicles.
• Increased Risk of Theft: High-value cars are more attractive targets for theft, necessitating higher security measures and coverage.
• Agreed Value vs. Market Value: Standard policies may not adequately cover the appreciating value of exotic cars, making agreed value coverage essential.

Types of Coverage to Look For

When insuring your luxury or exotic car, consider the following types of coverage:

• Agreed Value Coverage: Ensures you receive the full insured amount in the event of a total.
• Liability Coverage: Protects you against claims for bodily injury and property damage if you are at fault in an accident.
• Comprehensive Coverage: Covers non-collision-related damage, such as theft, vandalism, and natural disasters.
• Collision Coverage: Pays for damage to your car resulting from a collision with another vehicle or object.
• Roadside Assistance: Provides towing and assistance services tailored for luxury and exotic cars, ensuring they are safely transported.
• Spare Parts Coverage: Covers the cost of replacing rare or hard-to-find parts.
• Original Equipment Manufacturer (OEM) Parts Coverage: Ensures repairs are made with original factory parts.

Additional Options to Consider

• Inflation Guard: Automatically increase your agreed value limit annually to keep up with market appreciation.
• Car Show Reimbursement: Covers expenses if you miss a car show due to an accident or mechanical breakdown.
• Concierge Services: Provides personalized services, such as transportation arrangements for shows and auctions.