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Luxury car insurance

Luxury car insurance

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Get more coverage, special perks and asset protection with customized car insurance for luxury cars.

If you drive a high-performance or luxury car, state minimum auto insurance isn’t going to cut it. In fact, most conventional insurance policies aren’t likely to offer the coverage options you need to protect your assets after an accident or lawsuit.

Luxury car insurance is designed to deliver additional benefits that go above and beyond what’s available with comprehensive car insurance. Prestige and luxury car insurance is for collectors, enthusiasts, businesses with high-end company cars and anyone who wants a higher level of car insurance to effectively protect their valuable wheels or other assets.

If your car turns heads, this type of coverage might be for you. Compare luxury car insurance options and learn what it is, who it’s right for and how you can get it.

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Our top pick: Allstate

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What is luxury car insurance?

Luxury car insurance is a special type of car insurance that covers expensive high-end vehicles to protect if you’re in an accident or are sued due to an accident. It’s usually pricier than your average car insurance policy, as luxury cars are more expensive to own and repair than your normal daily driver. Plus, they’re usually a higher target for theft and vandalism.

Luxury car insurance takes over where mainstream car insurance leaves off. Typically, you can get it through specialized insurers that focus on extra-valuable cars including vintage vehicles, modified cars, imported cars and other valuable cars.

When it comes to insuring your luxury car, it’s often more difficult to find an insurance company that offers the higher coverage options you want. For example, many traditional insurance companies cap liability coverage around $300,000 to $500,000 per accident. But for a luxury car, this might not be enough to cover the cost of damages. Car insurance companies offering luxury car insurance policies have higher coverage limits.

Who should consider luxury car insurance?

Most people who own an exotic or luxury car should consider getting luxury car insurance. High-net-worth individuals might also consider getting this type of policy to protect their assets in a lawsuit.

Although there’s not a specific definition of what an exotic car is, most people classify them as vehicles over $100,000, or rare, limited edition models that are hard to find. If your luxury car is more than 25 years old, it will typically count as a classic vehicle and may be better covered by a vintage car insurance policy.

Popular luxury and exotic car brands

Popular luxury and exotic car models

Compare luxury car insurance providers

Name Product Roadside assistance New car protection Accident forgiveness Available states
All 50 states
Enjoy having your own dedicated agent to help you get the best discounts and coverage.
Yes, 3 years accident free
All 50 states
Save up to 31% with safe driver discounts and bundling all your rides in one convenient policy.
Drive less than 30 miles a day? Save on the coverage you need with pay-per-mile insurance from Metromile. Get a low monthly rate then pay just a few cents per mile. Available in AZ, CA, IL, NJ, OR, PA, VA and WA.
Yes, 5 years accident free or bought
All 50 states
Car insurance through Liberty Mutual will give coverage options for almost any situation.
Yes, history based
Root offers simple, affordable insurance that’s ideal for good drivers. Try the Root app for 2 weeks and see how much you could save. Available in 24 states.
All states except AK, DE, HI, MT, NH, VT, WY
Esurance offers a modern online and mobile experience that helps you take your insurance on the go. Available in 42 states.
All 50 states
Backed by nearly 100 years in the business, Farmers Insurance aims to offer options and support to help you find the coverage you need.
All states except Hawaii, Massachusetts, Michigan and New Jersey
The General offers affordable coverage for nearly any driver who needs car insurance.

Compare up to 4 providers

Who should avoid luxury car insurance?

If your vehicle doesn’t cost more than your current insurance company’s highest coverage limit, then you probably don’t need luxury car insurance. However, even if you drive a luxury car, you might be able to find an umbrella policy that works for you, depending on the value of your car and your budget.

An umbrella policy is essentially extra liability coverage. If you have significant assets, an umbrella policy can help protect you if you’re in an expensive accident or if someone tries to sue you because of your high net worth. It’s probably cheaper to add umbrella coverage to your existing coverage than go with a full-on luxury car policy.

What does luxury car insurance cover?

Just like regular car insurance policies, your luxury car insurance policy can be customized to fit your needs and budget. Typically, luxury car insurance includes these features and perks.

  • Liability coverage. Covers the costs of personal injury and property damage caused by your vehicle. This is required in most states, but if you have an expensive car, you’ll want higher liability coverage options. You can get additional liability coverage if you have an umbrella policy, which kicks in once you reach your car insurance liability coverage limits.
  • Collision coverage. Covers the cost of damages to your vehicle in an accident. This coverage is typically optional, but it’s good to have if you own a luxury car, since repairs after an accident could be costly.
  • Comprehensive coverage. Also optional, this covers the cost of damages to your car caused by anything other than an accident — including theft, vandalism and storms. Since luxury cars are a higher target for theft and vandalism, this is a smart add on.
  • Uninsured motorist coverage. Keeps you covered if you’re in an accident with a driver who either has no insurance or not enough insurance coverage to cover the high costs of your repairs.

What other benefits and coverage can I get with luxury car insurance?

Compare some additional perks you might consider adding to your luxury car insurance policy.

  • Agreed value only. Luxury car insurance policies will typically use agreed value, not market value, for determining the sum insured.
  • Choice of repairer. You can choose your own repairer with prestige car insurance to make sure your vehicle is maintained to your desired standards.
  • OEM parts. Your insurance company pays for your car to be fixed using original equipment manufacturer (OEM) parts, rather than cheaper aftermarket ones.
  • Choice of repair shop. Some insurance companies require you to use preferred repair shops to have your car fixed. Most luxury car insurance companies let you choose your own shop for repairs.
  • Change of vehicle. Many prestige policies make it easy to move your coverage between cars as you upgrade or change. Typically, your insurance policy is automatically transferred to a new vehicle for a limited period of time, so you don’t have to go uninsured when changing cars.
  • Carjacking coverage. Your high-end insurance policy might offer medical care or counseling after car theft, which is a bigger concern for drivers of exotic cars than the average Honda or Toyota driver.
  • Freebies. Often, luxury car insurance companies throw in freebies like roadside assistance, pet insurance or gap coverage. With a regular policy, these are perks that you have to pay extra for.
  • Multi-vehicle discounts. Collectors can get discounts for insuring more than one vehicle and can apply flexible options to individual cars covered under the policy.
  • New car replacement. Certain policies will offer a full new-for-old replacement if your vehicle is written off within a specified period.
  • Salvage rights. Salvage rights mean you can retain the wreck following an accident in which your car is written off. In many cases, the availability of this option depends on the car’s age.
  • Storage and limited use. If you’re not using your car every day, you can choose to pay as you drive. Many specialist insurers extend limited-use discounts, or don’t charge premiums for storage periods when you know you won’t be using the vehicle.

How much does it cost to own a luxury car?

Many people dream of the day they are able to own a Lamborghini, Jaguar, or other sports cars. Depending on your ride of choice, classic and high end cars can get very expensive when all is said and done. Insuring a luxury vehicle can be extremely pricey if you don’t have specialized coverage, due in part to the high cost of repairs.

For example, the yearly cost of owning a Bugatti Veyron is greater than the average family spends on living expenses in a year. A basic service appointment can run about $21,000, while annual premiums are nearly $50,000 with most providers. While this may be a bit of an extreme example, owning and insuring a luxury car is not cheap, regardless of the provider you choose.

Owning a high end car, be it a classic vehicle or a fully-loaded modern supercar, is an achievement to be proud of. However, coming up with the capital to afford the vehicle and all of its associated costs can be tricky. If you’re in the market for a luxury vehicle, consider a luxury or exotic car loan to help finance the costs of purchasing and insuring your dream car.

How much does luxury car insurance cost?

Expect to pay more to insure a luxury car than you would a midrange sedan, maybe even double or triple the cost of standard coverage. Your exotic car insurance rates still depend on factors like the MSRP of your vehicle, your driving history, age, gender and location.

Average annual cost of luxury car insurance

Take a look at some examples of what you might pay to insure a luxury car in California and Florida per year, compared to the average state minimum coverage costs in those states.

Lexus LS 600H L Hybrid$4,155$2,677
Maserati Gran Turismo MC$4,424$2,536
Mercedes S65 AMG$4,450$2,654
Average annual state minimum costs$945$1,663

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How can I get the best value on luxury car insurance?

To get the best value, compare luxury car insurance companies and see what rates, coverage options and perks they offer. Depending on the make and model of your car, there may be some national insurance companies that will insure your vehicle. Consider starting with those companies first to see if you can get a lower rate than you would with a specialized company that deals only with exotic cars.

Tips for getting cheap luxury car insurance

  • Pay attention to your deductible. Taking a higher deductible will lower your annual premium, but it could leave you on the hook for a hefty amount if you’re in an accident.
  • Check for bundling perks. Most insurance companies offer discounts if you take out multiple insurance policies.
  • Look for safety and anti-theft discounts. High-end luxury cars usually come with a number of safety features and anti-theft devices, which could help you save on insurance.
  • Consider umbrella insurance. If you don’t want to pay high-end insurance prices, you could open an umbrella policy to extend your liability coverage beyond the cap that your car insurance policy covers.

Cheapest luxury cars to insure

BrandModelMonthly CostBase Price
AudiA4 All Road$132$44,000

Pros and cons of luxury car insurance


  • Higher coverage limits. Get better coverage options to keep your assets protected.
  • Free perks. Unlock freebies like roadside assistance or gap coverage that might not come with standard insurance.
  • Status points. Having luxury car insurance can feel like being part of an exclusive club.


  • More expensive. Luxury car insurance is pricier than regular insurance.
  • Fewer options. Fewer insurance companies offer luxury car insurance policies.
  • Stricter requirements. Some providers could have stricter driver requirements, which means your teen might not be covered under your policy.

Is luxury car insurance worth it?

If you’re on the fence about whether or not luxury car insurance is worth paying for, consider all of your options before making a decision. You can customize a standard comprehensive car insurance policy to closely resemble a luxury policy, but you may not be able to get all the benefits you want and it may not offer the same value for money.

For example, if you drive a BMW but are still confined to a specific budget, you might want to stick to a conventional insurance policy and pay extra for higher collision and comprehensive coverage. Another option would be to pay for an umbrella policy to get extra liability coverage beyond the limits that your car insurance policy offers.

On the other hand, if you drive a super expensive car like the Aston Martin One-77, which sells for around $1.9 million, getting top-of-the-line luxury car insurance is going to be worth it in the long run, since the cost of repairs could be huge.

    If you can’t find a luxury car insurer that’s able to accommodate you, it’s worth considering the mainstream insurers who might be able to provide additional options for valued, long-time customers.

    What should I watch out for?

    When shopping for luxury car insurance, there are a few things to be on the lookout for.

    • Ultra-strict driving requirements. Some private luxury car insurance providers will require a squeaky clean driving record before they’ll approve you, and you might have to meet certain age requirements. You might also need to have the car registered to you and not a business or LLC.
    • Agreed value vs. actual cash value. Some luxury car insurance policies use an agreed value instead of actual cash value to determine the maximum payout in the event of a total loss or extreme damage. Before settling on a number, do your research and know what your car is worth.
    • Bait-and-switch scams. Watch out for companies that try to lure you in with seemingly too-good-to-be-true rates, and then turn around and skyrocket your rates to accommodate the higher coverage options you need.

    Which insurance companies offer luxury car insurance?

    Not all insurance providers will write a policy for luxury or exotic cars, although some of the big-name national insurance brands will to an extent. Check out these insurance providers to compare rates for luxury car insurance.

    • Chubb. Chubb Insurance is designed for drivers with luxury vehicles and a high net worth of $250,000 or more. Chubb offers generous coverage limits, perks and services to cover your car’s unique needs.
    • Allstate. This large national insurer is ideal for drivers with luxury and high-end cars. Allstate offers specialized classic car insurance, personal umbrella policy, sound system coverage and more.
    • Safeco. Safeco Insurance is a subsidiary of Liberty Mutual, one of the most widely-recognized insurance providers in the US. The provider has been operating since 1923, providing Americans with coverage for large investments like homes, boats and classic cars.
    • State Farm. State Farm is one of the most popular insurance providers in the US, supplying Americans with great life, home, and auto coverage since 1922. Best known for its comprehensive car insurance policies, this provider also offers specialized coverage for high-end vehicles.
    • Pure. Pure Insurance offers coverage to those with a high net-worth using a business structure similar to mutual insurance. Claims are paid out of a pool of members’ premiums, and any remaining funds are redistributed proportionally to its members.

    Are there any smaller or local companies that cover luxury cars?

    • Erie. Available in 12 states, Erie is known for great customer service, good rates and lots of discounts. Erie also offers options ideal for luxury cars like better car protection, personal item coverage and free roadside assistance. The Erie Auto Plus plan adds additional perks to your policy at a good rate.
    • Hagerty. Based in Traverse City, Michigan, Hagerty is an insurance company that specializes in classic and collector vehicles. Founded in 1984, it is now the largest insurance agency for collector cars in the United States, though its services are available in the US, Canada and the UK.
    • Grundy Worldwide. Grundy has been around since 1962, known best for its tailored insurance policies for antique and collector cars. Operating as a division of Philadelphia Insurance Companies, the company offers coverage all around the world.
    • Amica Collectors. Headquartered in Cherry Hill, NJ, this company provides excellent customer service on specialized luxury car insurance policies. It offers coverage for collector vehicles, rods & custom cars, antique & classic motorcycles, and even collectibles.
    • AIG. AIG Private Client is a division of AIG insurance, one of America’s most trusted insurance providers. Private Client is designed to offer financial protection for high net worth individuals, providing specialized coverage for properties, possessions, and of course, vehicles.

    How do I buy luxury car insurance?

    Buying luxury car insurance is very similar to buying regular insurance, but the prices are likely significantly higher. When shopping for high-performance car insurance, follow these steps to help you find the best rate.

    1. Compare rates for car insurance providers that offer luxury car insurance.
    2. Check coverage options. A cheaper rate might come with less coverage.
    3. Get a quote that factors in the make and model of your car, plus your driving history. Some companies will want to speak to you over the phone or in person, rather than provide an online quote.
    4. Choose the option that gives you the best value and fits within your budget.

    Bottom line

    If you drive an expensive car and want to make sure the cost of repairs is covered after a wreck, theft or vandalism, luxury car insurance could be for you. Otherwise, you still have some options, such as getting an umbrella policy or negotiating an agreed value with your regular insurance company.

    To get the most bang for your buck, make sure you compare insurance providers first.

    Find the cheapest rates

    Compare the best car insurance companies near you.

    Your information is secure.

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