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How do I select the best policy for my high-end vehicles?
Who is the best carrier for high-end cars? I have four vehicles priced over $100k each and I want to make sure I have the best coverage. None of them are car classic cars, they are all 2018 and newer and I keep them in a private garage.
Shannon Martin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Having
car insurance
that suits your needs is essential, no matter the value of your car. Still, high-end vehicles may open drivers up to riskier liability situations that need to be addressed. There are several insurance providers for high-end vehicles, but the options can be limited depending on the value of your cars. Here are the top-rated insurance companies for a car valued under $150,000:
If your cars are valued higher than $150,000, you will want to contact these insurance companies:
- Grundy
- Hagerty
- PURE
Most insurance carriers define high-end or luxury cars as a vehicle that performs better than your average car and has a more expensive price tag. They look at factors like:
- Year, make, model
- MSRP
- Horsepower
- Number of cylinders
Any of these carriers can walk you through the insurance process and make sure the physical damage part of your policy is taken care of.
However, the most crucial part, believe it or not, is your liability coverage.
Driving a luxury car signals to the people around you that you have money to spare, which makes you a higher target for frivolous lawsuits and targeted insurance scams.
The best way to protect yourself is by having higher than average
liability limits.
. The recommended limit for most drivers is 100/300 for bodily injury and 50 for property damage. It would be better to carry at least 250/500 for
bodily injury
and 100 for property damage. It actually may only cost you a few dollars more for the better limits!Also, check-in with your agent get a quote for an umbrella policy. An umbrella policy provides an extra layer of liability coverage over both your auto and homeowners policies.
They start at limits of 1 million dollars and cost around $120 per year.
A great way to get the best coverage at a low price is to quote multiple insurance companies simultaneously.
Downloading the free
Jerry
app will help! Jerry works with over 50 insurance providers and delivers the lowest rates from top insurers right to your phone. The best part, they work with companies that insure high-end cars and umbrella policies.”View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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