The Best Insurance For High Value Cars

The best insurance for high value cars is typically a combination of comprehensive and collision coverage with high limits and low deductibles to ensure maximum protection for your investment. There are insurance companies, such as Hagerty, that specialize in insuring high-value cars. These specialty companies offer discounts for high-value vehicles that are only driven during specific times of the year or events.

Pro Tip

Consider getting an agreed value policy, which allows you and the insurer to agree upon the value of the car up front. This means that in the event of a total loss, you will receive the agreed upon value of the car, rather than just the market value.
Best Insurance for High Value Cars

As an insurance broker, I am often asked about finding insurance for high value cars. High value cars can often have unique needs as they may need specialized coverage or have higher limits of liability.

Key Takeaways
Agreed value policies are preferable over ACV insurance policies for high-value cars.
There are insurance companies that specialize in classic car and high value car insurance.
Hagerty, Safeco, NJM, and Leland West are the best companies for high value vehicles.
To further reduce premiums you can inform the insurance company of how often you drive the classic/high-value vehicle.

There are several plans you can choose from, each with their own benefits, that can protect your investment. In this article, we will discuss those options, as well as factors to consider when choosing your plan, and provide some tips to reduce your premium. 

The Best Companies To Insure High-Value Vehicles

I have many clients who have nice cars, such as Lambos, Ferraris, and classics that exceed $100,000 in value. In those cases, what companies do I work with to insure these vehicles?

Here’s a quick list of companies to consider using if you have a high-value car!

I’ve personally used Hagerty while insuring my client’s vehicles. They offer great plans that are usage-based, which is perfect for vehicles you only drive in the summer months.

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Hagerty Insurance for High Value Cars

Hagerty Insurance is a leading insurance provider specializing in the coverage of high-value cars, including classic, vintage, and collector vehicles. Established in 1984, Hagerty has since grown to become a trusted name in the insurance industry, catering to the unique needs of car enthusiasts who own and cherish their prized automobiles

Hagerty Insurance focuses on high-value cars, which allows them to provide comprehensive and tailored coverage for these unique vehicles. Policyholders can expect coverage for agreed value, inflation protection, and more. Their dedicated team of underwriters and claims specialists understand the specific needs of classic and collector car owners, ensuring that your vehicle receives the appropriate level of coverage.

To get a quote with Hagerty either reach out to a local independent broker who represents the company or contact Hagery directly.

Safeco Insurance for High Value Cars

Owning a high-value car comes with its fair share of responsibilities, and one of those responsibilities is to ensure your prized possession is well protected. Safeco Insurance, a subsidiary of Liberty Mutual, is a renowned insurance provider that offers coverage for high-value cars.

Le-Land West Insurance for High Value Cars

LeLand West Insurance is a specialty insurance provider that focuses on coverage for classic, exotic, and high-value cars. This article aims to provide an in-depth review of LeLand West Insurance for high-value cars, examining coverage options, customer service, and other aspects to help you make an informed decision.

LeLand West Insurance is known for its personalized approach to customer service. Their agents are experienced in dealing with high-value cars and their unique requirements. Policyholders can contact agents via phone or email for assistance with their policies, claims, or general inquiries.

NJM Insurance for High Value Cars

NJM Insurance (New Jersey Manufacturers Insurance Company) is a regional insurance provider with a reputation for offering competitive rates and quality coverage. They offer a variety of discounts for those insuring high value cars.

There are insurance companies, such as Hagerty, that specialize in insuring high-value cars. These specialty companies offer discounts for high-value vehicles that are only driven during specific times of the year or events.

Jesse Cunningham

Types Of Insurance For High Value Cars

My clients often ask me about how they can protect their high value cars. There are several types of insurance available for high value cars, each with its own coverage and features. 

Classic Car Insurance

Classic car insurance is a type of insurance designed for classic and antique cars. It typically provides coverage for the value of the car, rather than its depreciated value, and may include features such as agreed value coverage and limited mileage discounts. Classic car insurance is often a good choice for high value cars that are rare or valuable due to their age or condition.

High-End Auto Insurance

High-end auto insurance is a type of insurance designed for luxury and high value cars. It typically offers higher limits of liability and specialized coverage to protect high value cars and their owners. High-end auto insurance may include features such as roadside assistance, concierge services, and rental car coverage.

Umbrella Insurance

Umbrella insurance is a type of insurance that provides additional liability coverage above and beyond the limits of your auto insurance policy. It can be a good option for high value cars, as it can provide additional protection in case of a lawsuit or settlement. Umbrella insurance may also cover other types of liability, such as personal injury or property damage.

Agreed Value vs. ACV Policies

Two primary valuation methods used by insurance providers for high-value vehicles are Agreed Value and Actual Cash Value (ACV) policies. Here’s a comprehensive comparison between these two types of policies, helping you make an informed decision when choosing the right coverage for your high-value vehicle.

Pro Tip

If you have a classic car, or high-value vehicle, you need to consider an agreed value policy. Otherwise, you may be disappointed in a claim where the insurance company pays less than you expect.

Agreed Value Policies

An Agreed Value policy is designed specifically for high-value vehicles, such as classic, luxury, or collector cars. This type of policy takes into account the unique characteristics of these vehicles and their potential appreciation over time.


Guaranteed value: Agreed Value policies ensure that you receive the pre-determined value of your vehicle in the event of a total loss, without any depreciation.

Accurate valuation: These policies often involve professional appraisals, ensuring that the vehicle’s true value is reflected in the policy.

Appreciation consideration: Agreed Value policies can take into account the potential appreciation of your high-value vehicle, protecting your investment over time.


Higher premiums: Agreed Value policies typically come with higher premiums compared to ACV policies due to the guaranteed payout in case of a total loss.

Regular appraisals: To maintain accurate coverage, you may need to have your vehicle appraised regularly, which can be time-consuming and costly.

Actual Cash Value (ACV) Policies

Actual Cash Value policies are more common and are typically used for standard vehicles. This type of policy calculates the value of your vehicle based on its market value at the time of the claim, factoring in depreciation.


Lower premiums: ACV policies generally have lower premiums compared to Agreed Value policies, making them more affordable for many policyholders.

Simplified process: With ACV policies, there’s no need for regular appraisals, making them more convenient for the policyholder.


Depreciation: ACV policies factor in depreciation, which may result in a lower payout in the event of a total loss, especially for high-value vehicles that may appreciate over time.

Market value fluctuations: The payout you receive with an ACV policy can be affected by market value fluctuations, potentially leaving you under-compensated in the event of a total loss.

Factors To Consider When Choosing Insurance For A High Value Car

Choosing insurance for a high value car is a great way to protect your investment. As an insurance professional, my clients frequently ask me what they should consider when choosing an insurance plan. When choosing insurance for a high value car, there are several factors to consider. 

Here are some key things to research and consider when evaluating insurance options:

  1. Value And Age Of The Car: Think about the current value of the car and its potential appreciation or depreciation over time.
  1. Type And Level Of Coverage Needed: Determine the type and level of coverage you need based on the value and age of the car, as well as your specific risks and exposures. Consider the types of accidents and incidents covered, the limits of coverage, and any exclusions or restrictions.
  1. Cost Of Premiums: Be sure to factor in the overall cost of the policy, including deductibles, copays, and other fees, in addition to the premium.
  1. Reputation And Financial Stability Of The Insurance Company: Look for insurance companies with a good reputation in the industry and a strong track record of financial stability.

Reducing Insurance Premiums For A High Value Car

My clients also frequently ask me how they can reduce their premiums. Here are some tips I recommend, based on my professional experience, to help you reduce your premiums:

  1. Increase The Deductible: Increasing the deductible on your insurance policy can lower your premiums. However, it is important to consider the potential costs if you need to file a claim, as a higher deductible may result in higher out-of-pocket expenses.
  1. Bundle Policies: Bundling your car insurance with other policies, such as home or renters insurance, can often result in discounts on your premiums.
  1. Maintain A Good Driving Record: A good driving record can help to lower your insurance premiums. Avoid speeding tickets and accidents to maintain a clean driving record and reduce your risk.
  1. Use A Garage Or Secure Parking: Storing your high value car in a garage or secure parking area can reduce the risk of theft or damage, which may result in lower insurance premiums.

By taking these steps and being proactive in managing your risk, you can reduce your insurance premiums for a high-value car

It is also a good idea to review your insurance policy regularly to ensure that you have the coverage you need at a price you can afford.


A great way to protect your investment in a high value car is insurance. When choosing a plan, it is important to consider the value and age of the car, the type and level of coverage needed, cost of premiums, and reputation and stability of the insurance company. By taking steps to manage your risk levels and carefully choosing an insurance plan, you can protect your high value car at a budget friendly cost!