Laura Berry is a former State Farm insurance producer and insurance expert.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products, including home, life, auto, and commercial, and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, mainly in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers Insurance CSR 4 Years

UPDATED: Oct 18, 2021

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Important facts to know...

  • Car insurance for exotic cars is often more expensive that car insurance for more traditional cars
  • Although some traditional insurance providers may offer coverage for exotic cars, every provider has different stipulations and requirements before they can cover your vehicle
  • You will need to shop around and receive quotes from multiple insurance carriers to give you an idea of the cost associated with covering your exotic car
  • There may be specific policy conditions you must meet to maintain your coverage; this can include secure storage requirements or low annual mileage limitations
  • Due to the higher costs associated with repairing or replacing these cars, the insurance premiums are often more expensive when compared to traditional car insurance

Purchasing an exotic car is often a long-term, planned event that requires proper understanding of the following:

  • car’s maintenance
  • risks the car faces
  • cost associated with owning and maintaining it

Understanding the car insurance for your car should be a part of your plan. Protecting your investment from unexpected losses is crucial since the cost to repair or replace your car can be difficult to cover on your own.

Enter your zip code into our free comparison tool to find the right coverage for your situation.

What is the right insurance coverage for an exotic car?

Determining the correct coverage limits and conditions can be a difficult decision, but insurance providers can help you make the right choice.

Car insurance policies for exotic cars are often quite similar to the coverage that other unique vehicles receive, such as antique or classic cars.

All of these unique vehicle types are more difficult to quantify when it comes to insurance statistics, as there are fewer of them on the road and they carry higher repair and replacement costs.

The costs associated with covering your exotic car, and all other exotic cars, means that insurance carriers often charge higher premiums for this coverage.

Even if you choose a provider that specializes in your vehicle type, you may find that higher premiums are the standard; this higher premium is due to the higher risks your vehicle faces.

There are ways to reduce the cost associated with car insurance for an exotic car, but there are options that should be avoided as well, including limiting your coverage or lowering your policy limits.

When making your decision about coverage limits and options, assess the amount of risk you are exposed to and the cost associated with recovering from that potential loss.

If your policy limits are too low, you may be forced to recover from a larger loss than you can handle.

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What should you remember about car insurance for exotic cars?

Expensive vehicles, such as your exotic car, often cost your insurance carrier more to repair or replace in the event of a covered loss.

As mentioned previously, your policy will carry higher premium costs to help offset the settlement that your carrier will pay out during a claim. You can find ways to offset the costs of your car insurance, such as reducing your risk factors.

It’s important to reduce your risk by allowing only safe, low-risk drivers to use your car.

Insurance companies look at high-risk drivers as ticking time bombs. These drivers include:

  • those with a DUI on their record
  • those with multiple citations on their record
  • teenage drivers, those with little to no experience behind the wheel

These drivers introduce more risk than many insurance companies would like.

Any driver with a history of claims, a poor driving record, or a lack of experience can add even more to the cost of your coverage. Your insurance provider often does this in anticipation of the losses these drivers will claim.

They base these decisions on statistical information. If you must list a driver from this category on your policy, it may be difficult to obtain coverage through many carriers.

Another way you can reduce your costs is through carrying a deductible on your policy. The deductible is the portion of any covered loss that you would assume, which reduces the amount of the loss the insurance provider must cover.

Finding discounts that your insurance carrier offers can be a great way to reduce your costs, and some of these discounts come from reducing your risk.

For example, you could qualify for a low mileage discount if you do not exceed a predetermined amount of miles annually. Driving few miles reduces your risk as your vehicle will not be on the road as often and will not be exposed to as many opportunities for an accident.

Additionally, installing anti-theft devices or GPS location devices can help to both deter theft and locate a vehicle if it is stolen.

Securing your exotic car in a garage or storage facility can help reduce the chance of theft and vandalism, reducing your risk and lowering your premium costs.

Speak to any potential or current provider about the ways to reduce your risk exposure; this often leads to a reduction in the premium to cover your car. You can compare quotes and offers from multiple providers, so don’t be afraid to shop around for coverage.


Exotic cars share the same risks that regular or traditional vehicles have, but they often face these risks with the potential for greater losses to occur.

For example, the theft of an exotic vehicle can often result in high replacement costs or repair costs once the vehicle is recovered; these costs are often much higher than a more traditional vehicle.

Due to the high purchase price, costs of maintenance, and potential losses, exotic cars often cost more to cover.

When you are choosing insurance coverage for your exotic car, make sure that you understand what your policy will cover, any limits or exclusions it carries, and what conditions you must meet to maintain coverage.

Some insurance providers specialize in exotic vehicles, meaning their policies may have conditions or terms that are different from traditional providers. In other situations, you may not have to take any additional steps to maintain your policy coverage.

Exotic cars are susceptible to theft and vandalism. Reducing the potential of theft or vandalism can help reduce your costs.

Installing anti-theft devices can be a great physical deterrent, and using a secured garage or storage location can show your provider you are serious about protecting your investment.

Compare car insurance options today by entering your zip code below.