I get asked this a lot so I thought I would throw up a post as a good reference. Having sold a few hundred exotic cars to Georgia clients and insured a bunch of them as well, these are my recommendations.
I use AllState and have since 2007. They bundle everything for me and the rates are reasonable. I pay a bit less than $100 per month for the CL55, S55, and Range Rover. The Murcielago is about $175 per month. The roadster was a bit more than the coupes have been. It is $499/mo including a liability umbrella. My wife and I are listed as drivers and I have no tickets or at fault accidents showing (miraculous).
AllState will not write new exotic business. They stopped around 2010. I am grandfathered in since I owned a few of them at the time. Many of you are in that same boat. It has kept me from shopping around. So if you are looking for a new policy, don’t bother.
State Farm is great. They insure pretty much anything and the pricing is competitive. You will also get better customer service than most other companies.
Progressive will insure most exotics but their coverage limit is $150k. Be careful, because if you don’t have a loan, they will let add a $500k car to your policy but if you total the car, they will want to send you a check for $150k.
Travelers is good as well. I have seen them cover a wide variety of exotic car. Rates can be higher depending on your driving history but it is worth a call to them or a broker.
Farmers is one that will write policies but I do not see terribly often. Worth a call if you strike out above.
Geico insures some of our clients’ cars. Customer service is difficult but worth considering.
Liberty Mutual also has an occasional appetite for exotics.
The collector car markets are worth looking into. The best broker that I have worked with for Haggerty, Leland West, Grundy, etc. is Barrett Jackson Collector Car Insurance. Most of these policies will have garage requirements and mileage limitations.
USAA will cover just about anything but if you have the car totaled or you need diminished value coverage, they are the worst to work with.
Be sure to ask questions about treatment of the car in the event of a total, diminished value in the case of a repairable accident, and authorized work locations. If you are in another state, most of these companies write policies everywhere. Check out my Lamborghini Gallardo Buyer’s Guide for other useful information about purchasing your first exotic. Good luck with your search!
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