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Why You Need Exotic Car Insurance

Why You Need Exotic Car Insurance 5.00/5 (100.00%) 1 vote

If you drive an exotic car, you know that it is way more than just an investment or sweet ride.  It is your passion that drives you (so to speak) when it comes to owning an exotic car, not your common sense. Chances are, your exotic car is your most prized and valuable possession. Consequently, making sure you are protected against loss by a good exotic car insurance policy, is imperative.

So first let’s talk about what we mean by “exotic car.” The term itself is downright controversial amongst enthusiasts. I tend to think that regardless of how it is defined, most of us know an exotic car when we see one.

According to Merriam-Webster, “exotic” means out of the ordinary.  When it comes to cars here are some of the main differences between exotic and ordinary:

Cost. Exotic cars are more expensive than standard cars.  Way more. A brand new exotic car costs at least $100,000 and some can run up to $400,000 or higher.  There is no such thing as an affordable, new exotic car.

Unique. Exotic cars are either very limited in number or completely one-of-a-kind.  This could mean that they have unique parts that require specific or custom tools.  Or they could have been custom-made to the owner’s exact specifications.  Or, they could have been produced as part of a limited edition to commemorate a special event. Regardless of how or why, there is something about every exotic car that makes it unique or rare.

Speed. Exotic car owners tend to value power and performance over fuel economy. The top speed of an exotic vehicle can thus be quite high when compared to ordinary cars.  A Ferrari’s top speed can be as high as 270 miles per hour. A Bugatti can top 280 miles per hour.

Looks.  Simply put, exotic cars have looks that are out of this world, both inside and out.  Most are equipped with state-of-the-art, chic, stylish interiors and sleek, stunning exteriors.

Parts and repairs. Exotic cars require exotic parts. Exotic car parts almost always need to be ordered from a specialty parts provider and installed by a specialty car repair shop with highly-experienced specialty mechanics.

Servicing. Exotic cars need specialty maintenance and servicing.  These are not cars you take to Jiffy Lube for an oil change.

Due to all of the above, exotic cars pose unique insurance risks.  Accordingly, exotic car owners require unique coverage and protections above and beyond that provided by a regular auto insurance policy.

Consider this.  Do you want to run around finding three estimates for repairing your Aston Martin before your insurance company will authorize the work?  Or, do you want to take your Lamborghini to an insurance company-approved repair shop, and have your adjuster in the middle of it haggling over the price of specialty parts?  No.

Fortunately, there are excellent exotic car insurance providers who understand the special circumstances and expanded needs associated with owning these types of vehicles.  A good broker can help you find one that can set you up with exactly the type of policy and coverage you need.

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How to Save Money On Your Exotic Car Insurance 4.50/5 (90.00%) 2 votes

Exotic cars are not only expensive to buy, but also require a costly insurance. That is only natural since exotic cars, due to their super-fast engines, are more likely to be involved in speeding, dangerous driving, and accidents. As a general rule, convertibles require a more expensive insurance than average cars – the more powerful the engine, the more costly the insurance. Whether you already own an exotic car or plan to buy one in the future, there are a couple of ways in which you can save money on your exotic car insurance.

  1. Go for a limited mileage policy. At first this may sound like a serious limitation, but consider how much you actually drive your exotic car. Chances are you don’t drive it every day.
  2. Do your best to avoid tickets and moving violations. A ticket or moving violation can raise your insurance rate with as much as 22%.
  3. Try to wipe off your record existing tickets or moving violations. A skilled attorney can pull it off, and in many cases the expenses his or her services require will be lower than the cost of paying for a higher insurance premium.
  4. Choose the highest deductible you can afford. High deductibles make insurers feel more at ease, especially when it comes to exotic car warranty and insurance, and this means lower rates. A good idea is to set up a savings fund especially for your deductible payment.
  5. Consider the car model you buy. If you want to change your exotic car or get a new one, you should know that the same insurer can offer you different insurance rates depending on your car’s model. For example, models that have been involved in many accidents over the years, especially in celebrity ones, can require higher premiums that models which are just as fast and powerful but don’t have the same infamous history.
  6. Install an anti-theft device. Surprising as this may sound, many exotic cars, and especially older models, may not have the anti-theft devices (alarms and trackers) that luxury cars have. This is because manufacturers of exotic cars strip them of all extras in order to make them as fast and as aerodynamic as possible.
  7. Make sure your VIN registration is etched into your car’s window. This can lower your coverage rates, since it makes tracking easier in case of theft.

In the end, don’t forget that it’s important to choose your exotic car insurance provider with care. Don’t settle for the first that comes your way but research the market and find the best insurance agency Houston based for your needs. A bit of research beforehand can help you save hundreds or even thousands of dollars on your car insurance premium, as well as avoid stress should you ever need to claim your insurance.

· · insuring your new car 5.00/5 (100.00%) 1 vote

In todays time, buying a car is slightly different than what it used to be a decade again. Policies are much stricter such as insurance and warranties, and many times people are not aware of what they do or don’t have as a part of these policies. When looking for exotic car insurance or an exotic car warranty it is important to get the proper type and go through the right insurance agency in Houston. Since there are so many agencies around it can be hard to select the right one for you since you won’t know how good or bad these companies are and how well they can meet your needs.

If you are looking for a reputable insurance agency in Houston then is your best place for information. By offering great exotic car insurance and an exotic car warranty hard to beat by the competitors, they will be provide you with information on all questions you may have. When you select car insurance for you vehicle is it very important that you go through a reputable company. One such as this one does everything in their power to provide you with the top customer service as to assure that you are always pleased with their services without any complaints. Their customers come first and it is hard to find a car insurance company that does that for their clients.

When purchasing an expensive car such as a super car or an exotic car, it would benefit you greatly if you signed up for exotic car warranty and exotic car insurance the minute you sign the papers for you car and before you drive off the lot. This is because those cars can get quite expensive to maintain and repair if anything ever goes wrong so having your insurance or warranty take care of it for you would take a great deal of stress off your shoulders in the case of an accident or part failure.

Exotic cars are fun to drive, and definitely turn many heads as they drive down the street, and that is why you should always get the proper protection for your car in case it is ever in an accident or a part ever is worn out and needs to be replaced. This way instead of having to worry about how you’ll fix or take care of such an expensive car,  you can let the experts worry about it while you relax. Warranties and insurance always come in handy, especially when we’re the ones they are helping and it when they are able to fix our property.

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Tips for Shopping for Exotic Cars

Tips for Shopping for Exotic Cars 4.71/5 (94.29%) 7 votes

Exotic cars can set you back quite a bit, so before you go diving in headfirst for that brand new Ferrari, it’s best to sit down with the finances and figure out your best course of action. A lowballed, low point estimate for a nice, new exotic car could be anywhere from $50,000 to $70,000, so here are some tips to consider when shopping for exotic cars.
•    First things first. It’s in your best interest to do some research into dealer invoice pricing before strolling into a car dealership. Since exotic cars can potentially earn a dealership huge profit margins, their original price points may be significantly lower than what the sticker says. Therefore, you should always know what the dealer invoice price is on any exotic vehicle that you’re thinking of buying. At certain websites like Kelley Blue Book or Edmunds, you can find a wide variety of cars and their respective dealer invoice price. With this tool in your hands, you can feel comfortable walking into a car dealership with an upper hand. Use these negotiating tactics to earn yourself a lower price on that new exotic car.
•    Leasing an exotic car is always an option. If you’re short of cash and still want to purchase an exotic vehicle, leasing one can save you hefty monthly payments that you otherwise would’ve made had you bought it direct. This means you pay a much smaller down payment and lower monthly fees, but the car is still yours!

Leasing your exotic car makes it so that your monthly payments are low enough to be considered a steal. Plus, leasing means that you have the great option of driving the car for a short amount of time, even as short as two or three years.
•    Buying brand new, fresh onto the scene exotic cars is ridiculously expensive. If you have the money for it, by all means, take it. But for those who want to be a bit more frugal, it may be worth your while to think of off lease. These cars are essentially on sale at much lower prices than the original manufacturer’s suggested retail price. More often than not, people will lease exotic cars and promptly release the car back to its original leasing company. Afterwards, these cars tend to be auctioned and sold to car dealerships across the United States for cheaper prices- saving you money.

If you decide to go ahead and buy an exotic car, you’ll have some serious choices to make down the line. What color? What special features? What maintenance shop? What insurance package? The last one there is the kicker. Insurance packages for exotic cars tend to be on the expensive side due to their knack for getting into serious wrecks, but if you’re set on it, then there’s no better agency than the Boardwalk Insurance Group. With years of experience in the car insurance market, their highly knowledgeable staff will help you pick out the plan that suits your budget and your taste.  They’ll have you wondering why everything else in life isn’t this easy.

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Insurance for Exotic Cars, Classic Autos & Specialty Vehicles 4.33/5 (86.67%) 3 votes

Are you looking for exotic car insurance for your exotic auto?  Do you own a classic car?  Did you purchase a kit car or other specialty vehicle?  If so, there are some things you should know and consider while searching.

1. Not all auto insurance companies will insure exotic cars, classic cars or specialty cars.  In fact, most do not.

2. There are specialty companies who insure only exotic autos, classic cars and kit cars.

3. There are a few insurance companies which insure not only exotic cars, but also regular vehicles.

4. When you own an exotic car, insurance companies are at greater risk for loss simply due to the possible claim amount in the event that an incident occurs, whether it’s your fault or not.

5. High performance cars also pose issues for insurance companies because claims can occur from driver error, primarily issues with vehicle control.

Whether you have one exotic or a car collection including exotics and classic cars, it’s important you carry the right coverage for you and your vehicles.  If an incident happens, you should have peace of mind in that your vehicle is covered and that you personally are not at risk.

This means you need to carry insurance coverage limits which are appropriate to your particular situation.  How? Let’s start with your liability coverage.  This covers you for claims made by third parties for injuries to individuals or other vehicles.  Most states require a minimum of 25/50/25 coverage.  This means you have $25,000 in coverage for any one person you injure, $50,000 for any one incident and $25,000 for physical damage to property.  When you break it down like this, you can see that state minimum limits are not much at all, especially considering medical costs and average vehicle values these days.  What you, as the insured, need to consider is the amount of exposure you have in the event of a claim.  If you are a high net worth individual, then you can bet that the person you hit will hire an attorney who will not only eat up your insurance limits, but also come after your personal fortune.  Because of this, it’s imperative that you carry higher limits of coverage and even consider a personal umbrella policy.  Your insurance agent should help you determine what limits you should carry.

You also need to carry comprehensive and collision coverage.  This is what insures your vehicle.  How much coverage you get for your exotic or classic car is usually determined by your insurance company, but many insurance companies are now allowing “stated amount” coverage due to the varying values for exotic and classic cars.  What does this mean for you?  Simply put, you get to put a value on your car and the insurance company will insure it up to the amount you provide them.  In the event of a total loss, they will pay you the stated amount.  So if you got a good deal on your car, make sure you insure it for what it would cost to buy another one.  If you made modifications to your car, take those into consideration as well.  Your premium for this coverage will be based on the amount you provide, but, in the grand scheme of things, it’s better you go with a higher amount and pay a little more in premium.

Aside from the above, the next most important coverage for you to carry is Uninsured or Underinsured Motorist coverage.  As stated, state minimum limits are very low ($25,000 in property damage in most states).  If someone hits your expensive vehicle and only has minimum limits, you will end up with a nightmare on your hands.  For this reason, it’s better you carry adequate UM/UIM coverage which will allow you insurance company to step in and take care of the damage above and beyond what the other person’s insurance company pays.

Personal Injury Protection coverage is also nice to have if you’re going with everything above.  This coverage, often referred to as PIP, is usually a “no-fault” coverage protecting you against medical expenses in the event of an incident, whether it’s your fault or not.

Depending on the state that you reside in, the info above can vary.  However, as the owner of an exotic auto or classic vehicle, it’s important you know the basics so you can make an educated decision on your coverage.

Another item to note is that the cost of insuring an exotic or classic auto is probably much less than you think.  It’s all about matching you up with the right insurance company for your situation.

Boardwalk Insurance Group specializes in insuring exotic cars and classic automobiles.  Our clients include celebrities, politicians, successful entrepreneurs and more.  Our staff is highly experienced in creating custom solutions for all individuals and all information is kept private and secure within our agency.  Here is a list of exotic/specialty car manufacturers we can insure:

  • Acura (NSX)
  • Alfa Romeo
  • Aston Martin
  • Audi (R8)
  • Avanti
  • BMW
  • Bricklin
  • Bugatti
  • Campagna
  • Chevrolet (Corvette Line)
  • Cobra
  • DeLorean
  • DeTomaso
  • Dodge (Viper Line)
  • Ferrari
  • Fisker
  • Ford (GT)
  • Hennessey
  • Koenigsegg
  • Lamborghini
  • Lexus (LFA)
  • Lotus
  • Maserati
  • Mercedes Benz
  • Morgan
  • Mosler
  • Nissan (GT-R)
  • Panoz
  • Porsche
  • Rossion
  • Saleen
  • Shelby
  • Spyker
  • Tesla
  • Toyota (Supra)
  • TVR
  • and many more…

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