Owning a luxury or exotic vehicle is about more than just the drive—it’s about protecting your investment. If you’ve purchased a high-end car, whether it’s a sleek Bugatti or a rare Rolls-Royce, proper insurance coverage isn’t just smart—it’s essential.
Before you even hit the road, it’s worth asking: how much will this vehicle cost you year over year? For example, just replacing and rotating the tires on a Bugatti every 3,500 kilometres can cost between $30,000 and $42,000. Factor in ongoing maintenance and insurance, and you could easily spend upwards of $200,000 annually.
Let’s break down what kind of insurance you’ll need—and why it’s different from standard auto coverage.
The World’s Most Expensive Cars (and Why They Matter)
Some of the most valuable cars ever made include:
- Bugatti La Voiture Noire – $19 million
- Rolls-Royce Sweptail – $13 million
- Bugatti Centodieci – $8.9 million
- Mercedes-Maybach Exelero – $8 million
- Lamborghini Veneno – $4.5 million
- Ferrari Pininfarina Sergio – $3 million
- McLaren Speedtail – $2.2 million
Why do these vehicles command such high price tags? Often, it’s because of limited production runs, unique design, and technological innovation. Some, like the Koenigsegg Trevita, are even finished with diamond-coated carbon fibre. Others, like the Lykan Hypersport, have been featured in blockbuster films and are owned by royalty and elite police forces.
Whether you’re drawn in by performance, craftsmanship, or exclusivity, one thing is certain: the right insurance can help protect your investment from unexpected loss.
Insurance for High-End Vehicles: What Makes It Different?
Insuring a million-dollar car isn’t quite like insuring your daily driver. Here are a few key differences:
1. Specialty Insurers Are a Must
Most mainstream insurance companies won’t underwrite high-value vehicles. You’ll need a policy from a specialty insurer—something your broker at Bulger Insurance can help you find.
2. Coverage Is Based on Agreed Value
Unlike regular cars, luxury vehicles don’t always depreciate. In fact, some appreciate over time. That’s why high-end vehicle policies are usually written with agreed value—a pre-determined amount (often the sales price or a professional appraisal) that you would receive if the vehicle is written off or stolen.
What Does High-End Car Insurance Include?
A specialty policy for a luxury or exotic car typically covers:
- Collision & Comprehensive: For damage caused by collisions, weather, vandalism, or theft
- Third-Party Liability: Protection if you cause injury or damage to others
- Accident Benefits: Medical costs for you and your passengers
- Uninsured/Underinsured Motorist Coverage: For hit-and-runs or accidents with uninsured drivers
And yes, the cost can be significant. According to some Ferrari owners, insurance can run $2,000 to $3,000 per month—and that’s with a $1,000 deductible.
Planning for the Road Ahead
Insuring a high-end vehicle takes more than a one-size-fits-all solution. It requires expert advice, the right connections to specialty insurers, and a deep understanding of the true value of your car.
At Bulger Insurance, we’re here to help you protect what matters—on and off the road. Whether you’ve just purchased your first exotic car or you’re adding to a growing collection, we can help you find the right policy that offers peace of mind and real protection.
Thinking of adding a luxury vehicle to your garage?
Contact a Bulger Insurance today to discuss your coverage options and get a custom quote.
