Specialized automobiles that have been labeled “exotic” often have different specifications and needs that your average personal conveyance. In addition to special care and maintenance, specialized insurance policies have been drafted by many insurance agents in Texas that cater to the needs of these very expensive automobiles.
The aptly named “exotic car insurance” is designed to protect those cars that not only cost more but are capable of higher-performance in acceleration, top speeds and handling. This short post will illustrate the specifics and considerations to keep in mind when shopping for exotic car insurance.
In addition to the usual coverage provided by auto insurance, an exotic car policy will usually include provisions for the specialty parts, replacement values and accidents that are considerably more severe — at least financially so— than the same damages sustained by a regular automobile.
As an owner of one of these cars, you must know that replacements, tuning and repair services cost more and are sometimes harder to find. The precision components under the hood of a Bentley or Lamborghini just can’t be swapped out with spare parts from a junkyard, often they have to be special ordered from the manufacturer.
This is where finding a competitive insurance provider in Houston, who can create a policy that properly addresses the value of these costly cars, can keep your exotic automobile safely covered in the case of accident.
Another important consideration for exotic cars is that they don’t feel the effects of depreciation in the same way that other vehicles do and having a policy that reflects this value is important to preserving the value of an exotic car and will not leave room for error in the underwriters calculations.
Finally, there is a cost difference in premiums that will be relative to the car itself, and the use and age it has seen. An exotic car that has been well taken care of, is a bit older and doesn’t get much use, could benefit from a fairly inexpensive policy. By the same measure, a year model exotic car in the hands of an inexperienced driver may require a large price.
In the end it will be about finding an insurance agent in Texas that can cut you the best deal. Insurance agencies in Texas offering specialty insurance policies like business car insurance, garage keepers insurance or other special offers for commercial liability insurance often have great deals for exotic car insurance as well.