Insurance for an Exotic Automobile

An exotic vehicle typically has four main characteristics:

1) The vehicle is expensive.
2) It is fast.
3) It is powerful.
4) It is eye-catching.

These vehicles are not cheap to insure. They tend to cost more when you purchase them, which means they are expensive to repair or replace. Like most auto insurance, your premiums will be determined by your driving record, age and your location. Owners of exotic cars often use these cars as a second vehicle, which means they may be eligible for lower premiums. If you only drive your supercar on weekends and holidays than it may be less expensive than insuring it as a daily driver.

Agencies Specializing in Exotic Auto Insurance in Canada

Most Canadian insurance companies will insure an exotic vehicle. They typically offer insurance for most high-end trucks and sports cars. Pricing will vary greatly between companies, which means there is even more reason to get quotes from a few different companies. You could save as much as $1000 or more per year by insuring your car with a more affordable brokerage. Before you purchase your fancy new car you should check insurance premiums. It may be more expensive than you had originally guessed. A quick phone call to your insurance agent can clear up many questions about insuring an exotic vehicle.

Exotic Cars

Although many people have different definitions of “exotic”, the following cars are considered by most people to be fine examples of this rare breed of car.

Audi R8 Spyder – An R8 will cost you around $160,000. This stunning car allows you to go from 0 to 60 MPH in four seconds.

Mercedes-Benz SLS AMG – If you can’t afford the Audi then this Mercedes-Benz is definitely out of your reach. 563 horsepower and a 6.3 litre DOHC V8 make this car fast and exotic.

Porsche 911 – The 911 is a perfect example of an exotic car. It is high-end and performs impressively on the track and the road. It also looks great in photos (and you probably can’t afford one).

Range Rover – The Range Rover starts at $94,290 but it only goes up from there. There are lots of options that can push this ride way past the $100,000 mark. Although not quite as zippy as some of the sports cars on the list, the Range Rover still packs a punch. Unlike the Porsches and Audis, you can take this bad boy off-roading.

Ferrari California – A base model California will cost you $192,000. You’ll most certainly have the hottest car on the block but the price tag won’t impress your accountant.

Although it is often disputed, most cars produced by Maserati, Ferrari, Lamborghini, Aston Martin, Rolls Royce, Bentley and Maybach would be considered exotic. These automakers don’t tend to offer mid-luxury offerings, which means they tend to the meet the characteristics of an exotic car.