Exotic Car Insurance Coverage for Your Unique Vehicle

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State...

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UPDATED: Sep 21, 2016

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Here's what you need to know...

  • Exotic cars require special coverage because of their value
  • An insurance agency that specializes in exotic cars will be well-equipped to meet your needs
  • You can find an insurer for your exotic vehicle by doing an online search

Car insurance can be customized to offer special protection to unique vehicles. Cars labeled “exotic” cost more than the average car and often drive faster than the average car. These are specimens that are limited in number.

This article details the definition of an exotic car and the recommended coverage options.

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There are antique cars that can also be considered exotic, and may not have the ability to travel at 120 miles per hour. Those who own exotic cars usually purchase a different type of insurance than most other car owners.

Some examples of exotic cars that may need expanded or customized coverage include:

An exotic car usually costs over $100,000. Some people may pay as much as $400,000 for a new one. Antique cars that fall into the exotic category could cost upwards of a million dollars.

Antique car insurance or classic car insurance is also available for some of these other vehicles with slightly different specifications.

What is exotic car insurance?


When we think of car insurance, most people think of the standard requirements set by the state where they live. There are common extra coverages for normal vehicles, including:

  • Personal Injury Liability
  • Property Liability
  • Comprehensive coverage
  • Collision coverage

Exotic car insurance policies usually carry provisions for specialty parts, accidents, and replacement value. An exotic car owner can not go to your everyday car parts store to find specialty parts. They usually have to be ordered from a specialty parts provider.

The replacement value of an exotic car is obviously different from the replacement value of your standard BMW for instance. An exotic car insurance carrier is prepared to negotiate the value of a specialty vehicle when the policy is established.

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How Exotic Car Insurance Differs from Standard Policies


There may be a division for exotic cars where standard insurance is available. These outfits may even group specialty policies for such categories as:

  • Boat Owners
  • Muscle cars
  • Race cars
  • Luxury vehicles
  • Antiques

Moreover, there are companies that offer exotic car insurance exclusively.

Most exotic cars do not depreciate in value in the same way that standard cars do.

Special car insurance carriers are well versed in car values and the cost to replace them. In the event of a claim, the underwriter will not be left scratching his head while trying to understand these exclusive factors.

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Does exotic car insurance cost more than standard car insurance?

The cost to insure is relative to the car itself, the frequency of use and the driver, just like standard insurance.

An antique, classic, or exotic car may not be driven as often as the driver’s everyday car and may, therefore, be cheaper than expected to insure for a driver with good credit. On the other hand, a 24-year-old with bad credit may have to pay dearly for insurance on their Audi R8.

Exotic Car Insurance Coverage

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Exotic car insurers understand the need for specialty parts and expanded needs. They will not require three estimates or play negotiation games on replacement. This is because the value is established up front.

Although state minimum requirements cover personal injury and damage to the other car, state minimums will not be high enough to cover repair costs for an exotic car.

Most policies allow the exotic car owner to have the car repaired by a specialty outfit of their choosing and pay the garage directly.

Collision and comprehensive coverage limits are much higher than the standard while premiums remain affordable. Owners can also save money by customizing their policy needs.

Many major carriers opt out of carrying exotic car insurance coverage because of the risks. Most carriers are designated to a smaller region while online carriers may have special permission to offer coverage in certain states.

Exotic car insurance may be found the same way standard car insurance is found. They do not advertise like standard carriers because most owners seek them out.

A couple more pieces of information may be required when requesting a quote, though. There are also exotic car clubs who refer their members to online sources such as exotic car insurance carriers. An online search will reveal what is available in your area.

To get instant car insurance quotes for your exotic car, enter your zip code now!

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