High-Value Car Insurance: What Is It And Do You Need It?

As an owner of a high-performance sports car, collector car or luxury automobile, you may already have realized that not all car insurance policies and insurance brokerages in Alberta are created equally. In addition to specialized car insurance products, you expect professional advice and efficient service from an Alberta-based brokerage that understands your distinctive lifestyle.

At Alpine Insurance in Calgary, our team of insurance specialists is here to evaluate your individual requirements and offer a customized car insurance solution for all your vehicles including exotic, everyday, classic, vintage, motorcycles, ATVs, motor homes, and golf carts. We are insurance specialists in all high performance and luxury vehicles including the following:

  • Ferrari
  • BMW
  • Porsche
  • Bentley
  • Lotus
  • Aston Martin
  • Maserati
  • Maybach
  • Lamborghini
  • Mercedes Benz
  • McLaren F1
  • Bugatti
  • Jaguar
  • Range Rover
  • Rolls Royce
  • Lotus

What High-Value Car Insurance Includes

This type of insurance involves coverages that you would not see in a standard auto insurance policy, including:

  • Collector Car Insurance – Insurance that takes limited use into account. Specialty programs are designed for vehicles that are not used for daily use. As a result, they are well cared for and prices are lower than standard insurance policies.
  • Liability For Rental Vehicles – Some specialty car insurance policies offer higher limits for rental vehicles than standard auto policies. International coverage for rental cars is included by some insurers.
  • Actual Cash Value – In the event of a claim, most standardized policies base the payout on actual cash value. If your vehicle is written off, you will receive the market value of the car which is subject to depreciation.
  • Agreed Value – Specialized car insurance policies allow you to know the settlement value of your auto at the time you obtain the policy protecting your car from depreciation charges in the event of a covered loss.

Qualifying As a Collectible

The market has broadened the definition of collectible in recent years. Historically, 25 years was the standard used for categorizing Collector Cars, but many cars over 15 years old now qualify for specialized Collector Car Insurance.

Categories of qualifying vehicles include the following:

  • Antique & Classic Cars
  • Lowriders
  • Military Vehicles
  • Modern Classics
  • Muscle Cars
  • Exotic Cars
  • Replicas
  • Street Rods
  • Trucks
  • Vehicles Under Active Restoration

Is High-Value Car Insurance For You?

When comparing specialized insurance to standard auto policies, ask yourself the following:

  1. Are you protected from vehicle depreciation in the event of a total loss by locking in the insured amount at the onset of a policy?
  2. Does your existing insurance broker provide one policy for all your automobiles?
  3. Does your policy offer a comparable courtesy vehicle in the event of a loss? With no daily limit?
  4. Do you carry adequate liability coverage?
  5. Does your existing policy cover damage to your rental car worldwide? Will it pay for the deductible?
  6. Would you be allowed to use Original Equipment Manufacturer (OEM) Parts in a claims situation?
  7. Would you be allowed to repair your car at a Body Shop of your choice?
  8. Do you have more vehicles than drivers in your home? Does your insurance company give you a discount for more vehicles than drivers?

If you answered no to these questions, your existing insurance company might not be designed for specialty vehicles. Contact us and one of our High-Value Insurance Specialists will contact you within 24 hours for a customized evaluation of your automobile insurance needs.


Get your high-value car insurance quote online now.

Reach out with questions or about applicable discounts.

Call and speak to a representative directly (587) 602-1305

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