Classic, Collectible and Exotic Car Insurance

Classic, collectible, and exotic cars may be more difficult to insure with standard insurance carriers. An alternative is to look for companies that specialize in this high-end field.

Collector cars typically receive extra care and less usage than cars for everyday use. With some restrictions and exclusions classic collectible cars can be insured for a reasonable premium.

Some of the restrictions include the prohibition of commuting use, a cap on number of claims made, and a blemish-free driving record. Typically the vehicle must be stored in a locked garage and another regular vehicle with full insurance coverage available for normal use.

If a collector wishes to display his vehicle at auto shows, liability insurance may be obtained for the event. $1,000,000 general liability insurance for car shows is available and rates are based on the number of cars at the show.

For street legal hot-rods, custom cars, and exotics, there are policies for liability and uninsured motorist coverage that are based on miles driven. You can select the appropriate plan from a mileage menu.

Supercars and elite luxury cars can also be insured by specialty companies. By choosing some low-mileage options and named driver restrictions a Ferrari, Lamborghini, Maserati, Bentley or Bugatti can be insured without the 25% extra that standard companies may charge for luxury sports cars.

Many of these specialty insurance companies can be found online, and quotes can be obtained for a guideline. Often, however, the final coverage and cost will be determined after a physical inspection.

Club memberships and performance driving class certificates can provide additional discounts that reduce the cost of insurance coverage.

Because these type of vehicles are often driven less and are cared for more, reasonable insurance rates are possible if you deal with specialty companies.