First off, a luxury vehicle has its own unique classification in the eye of BC insurers. This includes passenger vehicles with proper registration, however does not pertain to motorcycles,  recreation vehicles and trailers, as well as commercial vehicles.

Overall, a vehicle that costs greater than $150,000 will very likely be designated a luxury vehicle and likewise, will require unique insurance coverage.

From collector cars to high-value vehicles, the insurance process and nature of the insurance coverage will vary.

Vintage vehicles, for example will have their own classification as well, which is based on a set criteria. Since drivers may use these classic cars only as a method of weekend travel, or from time to time, this will play a role in the insurance policies that are designed to preserve and protect them, as well as their drivers.

The type of luxury car you will be driving will require specialized insurance to ensure you have the most appropriate coverage to meet your needs.

Depending of the exact luxury car model you are operating, the insurance coverage is also likely to differ.

Additionally, this uniquely-tailored coverage will likely require that you complete the application process, in order to secure specific coverage for your vehicle type.

On top of the basic auto insurance policies available, you will want to definitely consider adding special plans that include: damages, collision, comprehensive, well as Special Risk and Perils coverage.

Given that these higher-valued vehicles require specialized parts and in overall loftier repair costs, factoring in Special Risk insurance into your insurance is highly encouraged.

Replacement Cost Coverage, for example is one that should be at the top of the list when identifying which supplemental coverage to add to your luxury car insurance plan.

With this coverage in place, and in the event repairs are needed, this affords you the necessary funds required for the higher costs associated with using brand new parts to replace the damaged ones. Otherwise known as Original Equipment Manufacturing (OEM) coverage, this can also give you more peace of mind that your luxury vehicle has been restored to its previous condition.

As you look further into insurance coverage for your luxury car, it is best to seek out the expertise of your insurance company, in order to get the full picture of what to expect.

Not only can a trusted insurance agent provide the necessary information on insuring a car of higher value in BC, they can offer their specific recommendations on what insurance is right for you – and your vehicle.

In the case of a luxury vehicle application, they can walk you through the process and help you file this in a timely fashion. In doing so, you can drive your vehicle without further delay, also knowing that you have the best coverage in place.