Luxury Auto Insurance
Higher coverage for your high-value vehicle.
If you have invested in a more expensive vehicle, a standard car insurance policy may not be enough. If your car is a known luxury brand, a high-performance model or is valued over $100,000, luxury auto insurance might be the best option to ensure your high-value purchase is fully covered.
Your guide to luxury auto insurance.
Luxury auto insurance is specifically designed to accommodate high-end automobiles. You’ll have access to a dedicated luxury auto insurance broker who will work with you to secure comprehensive coverage and provide peace of mind in knowing your unique car has the coverage it deserves.
Our luxury auto insurance coverage can include:
- Higher limits for coverage
- Agreed value coverage
- Access to preferred repair facilities or client’s choice
- Repairs done with original manufacturer’s parts
- Waiver of Depreciation
Coverage across Canada.
Get luxury auto insurance by phone or in person at your nearest location.
Common coverage types for not-so-common vehicles.
For drivers across Canada, auto insurance is one of the most important personal insurance coverages you need. This is even more needed for luxury vehicle owners.
Third-Party Liability
As a mandatory coverage in all provinces and territories, this type of insurance covers bodily injury to third parties. It can also cover legal expenses, including defence costs, judgment awards and settlements, in the event you are sued.
Accident Benefits
This provides compensation if you, your passengers, or pedestrians are injured in an automobile accident. It includes medical and death benefits, as well as income replacement benefits.
Direct Compensation for Property Damage
This helps cover repair or replacement costs if your vehicle is damaged in a collision caused by another driver. If you are partially at fault, your coverage will only be partial, and you would use your collision coverage for the remaining portion.
Collision
This offers coverage for the costs to repair or replace your vehicle in the event you are at fault or partially at fault for an accident.
Comprehensive
This provides financial compensation for incidents that are not caused by you or another driver. Covered scenarios could include theft, vandalism, fire, weather damage or falling objects.
Loss of Use
This coverage offers funds to help you get around while your vehicle is being repaired, in the event of a covered claim. It typically includes costs for public transit, taxis or rental cars.
Replacement Cost
As a loss settlement option, this covers the replacement of your vehicle without subtracting depreciation. It is only available for cars within a certain age.
Signature by Acera Insurance.
When you need more than your average insurance coverage for high-value assets, we can help. Learn more about our specialized coverage solutions.
Why choose Acera Insurance for luxury car insurance?
Extraordinary Customer Service
Our brokers provide you with exceptional customer service and specialty coverage options designed to preserve the value and your enjoyment of your luxury vehicle.
Leading Canadian Brokerage
We are the largest independent and employee-controlled brokerage in Canada, which means we work for you, not for an insurance company.
Unparalleled Market Access
We have access to a substantial number of markets that allow us to deliver you truly competitive luxury auto insurance quotes.
Helpful tips from our advisors.
When your vehicle requires more than average insurance coverage, you should consider luxury auto insurance with us.
Answering your most common questions.
What cars are eligible for luxury auto insurance?
Whether an insurance company considers your car a luxury vehicle may vary from provider to provider, but here are some factors that are often considered:
- The year, make and model
- High-performance or a unique factor
- The value of the vehicle (generally over $100,000)
- More complex maintenance and repairs, which also generally cost more
What vehicle makes are considered luxury automobiles?
Generally, the following vehicle makes are considered luxury brands:
- Alfa Romeo
- Aston Martin
- Audi
- Bentley
- BMW
- Bugatti
- Ferrari
- Jaguar
- Lamborghini
- Land Rover
- Lexus
- Maserati
- Maybach
- Mercedes-Benz
- Porsche
- Rolls Royce
If your vehicle make isn’t listed on the above list and you think it would be considered a luxury automobile, don’t worry. Simply call one of our Signature specialists and we can advise you on whether you are eligible for luxury auto insurance.
Is it more expensive to insure a luxury car?
Auto insurance can be complicated. Different drivers for the same car or the same driver for different vehicles can have drastically different rates. Overall, luxury auto insurance tends to be more expensive than regular car insurance. This is largely because a collectible or luxury vehicle isn’t like a regular car. It is generally more costly to work on the repairs of a luxury vehicle since they often require specific or original parts and more specialized mechanical skills. Theft is often more of a risk with luxury vehicles, and it is more expensive to replace these types of vehicles when they are stolen.
How much does luxury auto insurance cost?
The cost to insure your luxury automobile in Canada will vary based on several factors related to you, the vehicle, and your location. Some of these include:
- Your insurance and claim history
- Your credit rating
- Your driving record
- Your demographics
- Your vehicle’s year, make and model
- Your vehicle’s MRSP or purchase value
- How you use your vehicle
- When you drive
- How far you drive
- Where you live
- Security features
At Acera Insurance, we help you find the most comprehensive coverage for your needs, at a price you are comfortable with.
How do I save money on my luxury auto insurance?
Our luxury car insurance brokers can help you understand your insurance rates as well as ways to lower your premiums. Here are a few ways our Signature by Acera brokers recommend saving on your luxury auto premiums:
- Bundling your insurance
- Claims-free discounts
- Multi-vehicle discounts
- Pay the year in full
- Allow for a credit rating check
- Complete driver’s training
- Maintain a good driving record
- Choose a higher deductible
- Install anti-theft features
- Annually review your usage with a broker
If my luxury car requires repairs, can I choose my own repair shop?
Yes. With a luxury auto insurance policy, our brokers will make sure you have the option of choosing your own repair facility or access to premium repair shops that are well-equipped to handle your collectible or luxury vehicle. We will also ensure that original equipment manufacturer (OEM) parts are an option if repairs are required.
Personal insurance insights for your everyday.
-
Putting the Brakes on Auto Theft
Installing a recovery device in your vehicle can reduce auto theft and premiums. Insurers are responding to the skyrocketing rates…
-
Understanding the Risks of OPCF 49
Effective Jan. 1, 2024, Ontario drivers will be offered a new optional endorsement on their auto insurance called OPCF 49…
-
Alberta Auto Insurance Rate Pause
On January 26, 2023, the Government of Alberta announced a rate pause for private passenger vehicle insurance until the end…