Do i need to purchase additional coverage if i'm driving an exotic vehicle?

Taking out exotic car insurance may require a few extra steps to get a regular car insurance policy. However, due to the high value and level of risk of your exotic vehicle, it's worth having coverage. Because of their high value and the need for extremely expensive repairs and maintenance, exotic cars cost much more to insure than everyday cars. If your car is declared a total loss due to theft or accident, traditional insurance coverage provides the depreciated value of the vehicle, taking into account age and wear and tear.

Some insurers that specialize in exotic car insurance can't offer policies in certain states, so ask early on if they work with exotic car owners where you live. An independent insurance agent can help provide you with exact exotic auto insurance quotes and possible discounts in your area. While regular auto insurance premiums can range from hundreds or even less per month, exotic car insurance can cost thousands of dollars. Many exotic car insurance policies cover recreational use or driving to an auto show, but not everyday use or due diligence.

Independent insurance agents also have access to several insurance companies and ultimately find you the best exotic car coverage, accessibility, and competitive pricing while they work for you. However, a policy designed for exotic cars is based on the agreed value, in which the owner and the insurer agree on the value of the car, without amortization, before the policy is issued. One of the factors in determining what type of exotic car insurance you need is the way you use and store your special car. Exotic car insurance is more complicated than what you would buy for an average sedan, due to the higher value of the vehicle and the higher cost of repair.

If you choose an exotic car insurance policy offered through a traditional insurer, such as GEICO, you may qualify for a multi-policy discount. As with any other car on public roads, state law requires that your exotic car have liability insurance that covers any bodily injury, death, or damage it causes to other people. Some insurers offer discounts to insure several exotic vehicles, high-value collections, a no-claims history, car club memberships, anti-theft devices, accident prevention, and garage parking. Fortunately, an independent insurance agent can help you equip your exotic car with all the coverage you need to stay safe while you're on the move and parked.

Beyond the obvious risks that come with an exotic car, there are the most common factors that influence the cost of all auto insurance policies. Exotic car insurance is likely to include industry-standard coverage, such as pet coverage, windshield replacement, trip interruption coverage, and roadside assistance.