Specialty Coverages

Luxury cars will have features which would be different and advanced technologies, for which, therefore, specialized coverage is a must. This can include: i.) Agreed value coverage. Most standard insurance policies usually pay out the depreciated value of the car, but luxury car insurance often offers agreed value coverage, whereby the owner and the insurer agree on the value of the vehicle at the inception of the policy to ensure full compensation in case of a total loss. ii.) Collectible Car Insurance A few rare, expensive cars are collectibles. Collectible car insurance will pay for restoration costs, fluctuation in the market value, and unique components from which such a vehicle would benefit from its being in a given condition and state at all points in time.