Best Car Insurance Rates for Luxury and Exotic Cars (2025)
USAA, Progressive, and GEICO are three of the best car insurance companies for owners of luxury vehicles.
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If you own a luxury or exotic vehicle, you can expect to pay higher-than-average car insurance rates. Exotic cars and other high-performance vehicles typically cost more to insure because they’re worth more money and require costly specialty parts for repairs. Auto insurance companies consider a car’s value when setting rates.
Before buying a car insurance policy, you should always compare auto insurance quotes and coverage options from multiple insurers. Here’s what you need to know about finding the cheapest car insurance for your luxury or exotic vehicle.
Quick Facts
Sports, luxury, and performance cars qualify for higher insurance rates.
Agreed-value policies provide exotic car owners with the most insurance protection.
Exotic car insurance policies provide drivers protection against damages at car shows and events.
Best luxury car insurance companies
Car collectors and driving aficionados need to find the right exotic car insurance to protect their cars. While many exotic car owners use their cars infrequently, having the right insurance can provide peace of mind and vehicle protection in the event of damage.
If you’re a collector, you’ll want to purchase a full-coverage policy because liability coverage doesn’t offer enough protection for your vehicle. Start your search for the best insurer for your needs below.
Best for military members and spouses: USAA
Best for luxury vehicles under $150,000: Progressive
Best for classic cars: GEICO
Find Full-Coverage Insurance
Full-coverage rates in the U.S. start at $177/mo.
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How much does luxury car insurance cost?
High-end vehicles typically cost more to insure than what the average driver pays for coverage. The average cost of full-coverage car insurance in the U.S. is $177 per month. Drivers with luxury vehicles pay higher rates, with an average of $237 per month for full-coverage insurance.
Compare the average cost of full-coverage insurance for luxury vehicles from the insurers below.
Insurance Company  | Average Monthly Quote |
|---|---|
| USAA | $112 |
| State Farm | $125 |
| GEICO | $130 |
| Allstate | $154 |
| Progressive | $168 |
| American Family | $195 |
| Nationwide | $210 |
| Liberty Mutual | $214 |
| Travelers | $222 |
| Farmers | $271 |
| The General | $287 |
Disclaimer: Table data sourced from real-time quotes from Insurify's 500+ partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
What is an exotic, luxury, or performance car?
Insurance companies put sports cars, luxury vehicles, classic cars, and performance cars like Teslas into a different category than other vehicles. These vehicles often have higher horsepower and lighter body weight.
Insurance companies include unique, exclusive, customized, and concept vehicles as luxury or exotic. This includes cars you expect — like a Porsche, BMW, or Ferrari — as well as vehicles that simply cost more to insure, like Teslas and Dodge Chargers.
How to get the best value for your car insurance
If you’re driving an exotic vehicle, you should have enough coverage to properly protect your vehicle, including collision and comprehensive insurance. Having more coverage comes with a higher insurance price tag. You should prioritize finding a reasonable price that offers the most coverage for your investment.
Determine how much your car is worth. You’ll get more coverage if you choose a policy based on the agreed value of your car instead of a standard policy. So, knowing the value of your vehicle will help you when determining an agreed value with your insurer later on.
Make sure you have the proper paperwork. You’ll need to have vehicle information on hand, including the make, model, and year of your vehicle. You may also need to provide photos of your engine, the car’s interior, and other areas to help determine the actual value. These photos will also come in handy in the event of a car accident or theft.
Check rates and coverage options from multiple insurance companies. Comparing quotes from multiple companies is the best way to find the cheapest coverage for your vehicle. Take the time to research different companies and find out how they value vehicles and the types of exotic car insurance policies they offer. You’ll want to choose the company that provides the best protection against loss for a fair price.
Exotic car insurance coverage types
If you need to buy insurance for a luxury vehicle, you’ll want to consider the following coverage types.
Full coverage
Full-coverage policies typically include liability, comprehensive, and collision insurance. Full coverage means you’ve got maximum protection for your car, passengers, and other drivers, regardless of fault in an accident.
Exotic car damages are costly to repair, so paying for protection could prevent future financial loss. Liability insurance isn’t sufficient coverage for high-end cars.
Gap insurance
Gap coverage protects you if the amount the insurance company pays out on your claim in the event of a total vehicle loss doesn’t meet the amount you still owe your lender if you financed or leased your vehicle. The gap policy would pay the difference, so you don’t have to pay out of pocket.
Not all insurers offer gap coverage, so you’ll need to talk to your insurance agent to see your options.
Agreed value
Exotic vehicle drivers should consider an insurance policy that focuses on the car’s agreed value. While standard consumer vehicles devalue over time, exotic vehicles typically don’t. In fact, most exotic cars appreciate value over time.
Agreed-value policies also make filing claims less of a hassle since you won’t need to deal with an insurance adjuster.
Coverage for shows
If you own an exotic car, you may want to show it off in a vehicle exhibition or show. Insurance companies specializing in exotic cars are more likely to offer coverage to protect your vehicle and yourself from physical damage or injury at car shows and events.
Exotic car insurance FAQs
Driving an exotic car comes with a higher car insurance price tag. The following information should answer your remaining questions about insuring luxury vehicles and finding the best insurance option for your needs.
Does it cost more to insure a luxury car?
Yes. An insurance policy on an exotic vehicle will have more expensive premiums.
Insurance companies charge more for coverage on these vehicles because they typically require specialty parts for repairs. Additionally, luxury cars are more valuable, so policies are higher to offset the additional coverage cost of replacement.
How much does it cost to insure a Lamborghini?
On average, Lamborghini drivers can expect to pay around $516 per month for full-coverage insurance.
How much does it cost to insure a Ferrari?
The average cost of full-coverage insurance for a Ferrari is $601 per month.
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