There are the standard run of the mill insurance companies and there are special car insurance companies that are not as well-known. These lesser-known car insurance companies specialize in insuring assets that other bigger insurance giants want no part of. This plays right into the hands of these specialized insurance firms as they are just fine with servicing a market that has always been quite large and very profitable. The names may sound unfamiliar to most of the insured across the land but they are house-hold names to the customers that require something a little different.
The special car insurance companies that insure everything from exotics to antique cars exist for these same reasons. The luxury polices that are offered cover the very expensive and sometimes rare vehicles wealthy people own such as Ferraris, Lamborghinis and Bentleys. Luxury insurance companies are seen as the only ones that would offer insurance on items as valuable as these. There are other high-ticket items that can be insured such as boats, mansions, jewelry, and even manuscripts and treasured works of literary prose. The list is virtually endless for these types of items that the specialty insurance world can and does insure.
Special car insurance policies are also known for something else entirely. Their ability to remain out of the eyes of the media and the entire insurance industry as well is a very important point that many people keep close to their heart.
The best way to demonstrate just what a special car insurance company does is to list the highest dollar items they cover. The famous insurance company Lloyds of London is a perfect example of the type of specialized insurance that would be needed to cover these special automobiles. The show cars and the rare and expensive antique cars are items that this seasoned and well-established insurance company insures. The limits can be as high as 10 million dollars and that’s just for the face value of the item. If the market goes up or down the payable value of the item will still be fully insured with the insurance having the ability to mirror the total daily value of the item insured.