Luxury or exotic cars, which tend to be expensive, are better off with specialty auto insurance companies rather than standard auto insurers. The specialty auto insurance companies are those that specifically deal with or have created dedicated divisions to exotic cars. Here are some of the reasons you should insure your exotic car with these specialty auto insurance companies.

It Gives You Access to Agreed Value Coverage

Luxury cars don't lose their value or depreciate at the same rate as regular cars. In fact, some luxury cars appreciate after some time. Unfortunately, regular auto insurance coverage typically offers actual cash value coverage where you are reimbursed for the value of the car just before it was lost or damaged in case of a claim. 

However, this may leave you with a loss if you had insured a collectible car that had appreciated in value. When you opt for specialty coverage, you have the option of going for an agreed value coverage that promises you proper reimbursement in case of a loss. You can even insure a collectible at an agreed value twice the actual purchase price.

It Gives You Access to More Benefits and Perks

Buying specialty auto insurance coverage for your exotic car will also entitle you to more benefits and perks as compared to when you purchase regular car insurance. This is because specialty car insurance is a highly specialized and high-end niche market. As such, insurers companies that offer the coverage understand that they must do better than the regular auto insurers. That is why they go to great lengths to provide perks and benefits such as unlimited rental and lodging reimbursements, rental protection around the globe, and pet injury protection, among many other perks.

It Provides Coverage Even Where Regular Carriers Don't

Lastly, specialty auto insurance coverage may also protect your car in places where regular auto insurance may not apply. Many people don't know this, but regular car insurance doesn't apply in all places at all times. For example, your standard auto insurance claim may not be honored if it arises out of an accident occurring in a race, auto show or event. However, specialty auto insurance will still cover your car under such circumstances because the specialty auto insurance companies understand such events are common with specialty car owners.

Hopefully, you will find a suitable policy for your exotic or luxury car from the specialty auto insurers. Consult an auto insurance agent to help you with the coverage.