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Luxury Car Insurance

Ensure your luxury vehicle is properly protected.

  • Work with an experienced broker who specializes in luxury auto insurance
  • Repairs done with original equipment manufacturer parts, not generic ones
  • Dedicated broker to help you get the best discounts and coverages

Complete the form or call 1-800-463-8074 to speak with a licensed broker about Luxury Car Insurance today.

Luxury Car Insurance Ontario

Luxury car owners select their vehicles for a variety of reasons: Quality, brand, luxury, attention to detail, comfort, reliability, and pleasure. High-end car owners are discerning. They want the best.

Luxury car owners should expect and receive the best when purchasing insurance for their vehicles.  Always work with a broker who specializes in high-end vehicle insurance. Get a curated policy and coverages, signature service from expert brokers, and prompt and personal service.

What is Luxury Car Insurance?

Luxury car insurance is coverage curated especially for high-value, exotic, and specialty classic cars and their owners. Luxury car insurance is a distinctive and specialty product within the auto insurance market.  It focuses on protecting vehicles by recognizing their value and special requirements. It is important to insure your luxury vehicle with the help of high-end vehicle insurance experts.

Luxury vehicle owners require specialty luxury car insurance to adequately protect them and ensure their vehicles are repaired in a way that doesn’t damage their value. Quite apart from standard auto insurance, luxury auto insurance offers many extra features, each tailored to the owners of high-performance exotic cars.

Who Needs Luxury Car Insurance?

If you own a car worth $100,000 or more, you should have a luxury car insurance policy that protects your investment. Insuring a luxury automobile has unique requirements, and you don’t want to insure your vehicle with a standard auto policy.

If you have an accident or your vehicle is stolen, you do not want your luxury vehicle to be underinsured. Nor do you want to go through a tedious claims settlement process. As a luxury car owner, you need to be insured with an insurance company with a careful approach towards underwriting luxury car insurance, and that has your best interest in mind in the event of a loss.

Ontario Luxury Car Insurance - Morison Insurance

What Cars Are Eligible For Luxury Car Insurance?

Luxury car insurance takes into account several factors when determining the policy and coverages.   Factors include the vehicle year, make and model, high-performance elements, and vehicle value (generally $100,000 or more). Here are some vehicles that are generally considered to be luxury vehicles in the auto insurance world:

  • Rolls Royce
  • Ferrari
  • Maserati
  • Porsche
  • Bugatti
  • Range Rover
  • BMW
  • Audi
  • Lexus
  • Bentley
  • Mercedes Benz
  • Lamborghini
  • Jaguar

If you are not sure if you need luxury car insurance, contact a prestige car insurance broker who specializes in insuring vehicles in this niche insurance market.

How Much More Is Insurance for a Luxury Car?

Generally, luxury auto insurance is more expensive than standard car insurance. It’s no secret that the most expensive vehicle’s to insure are imports such as BMW, Audi, Mercedes Benz, and Porsche. Sticker price will impact insurance rates. Luxury cars are more costly to replace and repair. The cost of repairs and complexity to fix a vehicle is a key factor, and a reason why imports and expensive cars cost more to insure. Certain models are only manufactured in limited numbers, which also increases the price of parts. Theft is also more of a risk with luxury vehicles. Expensive cars are commonly targeted for theft.

When risks are higher, and costs are higher, it generally follows that the insurance premiums will be higher. At the same time, the cost of high-end luxury car insurance can be well worth the price should you have a loss.

Other Factors That Can Impact The Cost Of Luxury Car Insurance

  • Your driving record
  • Where you live
  • How much you drive
  • Make, model and year of your vehicle
  • Your driving history
  • Your claims history
  • How you use your vehicle
  • Special features of your vehicle – such as security features

For more information on how car insurance premiums are calculated, the Insurance Bureau of Canada offers insight.

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How Do I Reduce The Cost Of Luxury Car Insurance?

We know that price matters. We want you to save as much money as possible on your luxury car insurance. Here are some ways to save:

  • Keep a clean driving record/abstract
  • Get a claims-free discount
  • Install security/anti-theft devices
  • Pay in full once annually
  • Select a higher deductible
  • Purchase more than one line of insurance from the same insurance company. This is often called bundling.
  • Get a multi-vehicle discount
  • Get a retire discount
  • Get a loyalty discount
  • Complete driver training
  • Sign up for a good driving program. Drive safely and save. These programs provide financial rewards – through reduced premium costs – for good drivers. Several companies offer these programs. Enjoy savings of up to 10% immediately when you sign up and save up to 30% for driving safely. Luxury car insurance specialist will explain the programs’ details and rewards.

There are numerous insurance discounts available. Be sure you receive all of the discounts you qualify for.  Our luxury car insurance experts will explain the discounts and help you to save.

What Type of Luxury Car Insurance Do I Need?

Luxury car owners need insurance that protects their vehicles by recognizing their value and special requirements. Prestige car insurance brokers are experts at determining what type of luxury car insurance you need.  These specialist brokers know which insurance companies offer coverage for high-end vehicles. They know the products, extra features, and ways to help you save. Your best bet is to speak to a luxury car insurance broker.

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Who Offers Car Insurance for Luxury Vehicles?

Chubb Insurance, Aviva Insurance, and The Guarantee (recently acquired by Intact Insurance) are specialty markets for luxury automobiles. Each of these companies specializes in insurance products and services to meet the needs of luxury car owners.

Chubb Insurance

Chubb offers distinctive coverage for high-value and collector cars. Some of its insurance coverages include:

  • Repair of your vehicle with original equipment manufactured parts, not generic ones.
  • You can choose your favourite body shop, or the company will help you find a quality repair shop of your choosing that guarantees outstanding work as long as you own the vehicle.
  • Car rental coverage. Chubb’s limit across North America of $75,000 ensures adequate coverage for the cars you rent.
  • No daily limits for loss of use. Chubb provides flexibility to rent a suitable car, with a value of up to $5,000 per occurrence.
  • No surprises. With Chubb’s agreed-value endorsement, you know the settlement value for your car when you get your insurance policy.
  • Chubb’s limited waiver of depreciation ensures your vehicle is replaced with a current make and model.
  • Yes, price matters. Chubb offers a selection of credits/discounts, recognizing loyalty, vehicle value, and driving experience.

Aviva Insurance

Aviva Insurance provides insurance designed to meet the unique needs of luxury vehicle owners. Some details of its prestige car insurance include:

  • A dedicated claims service team.
  • Agreed-value protection.
  • Savings awareness: Numerous money-saving discounts are available such as combined policy discount, car, and home discount, conviction-free discount, multi-vehicle discount, and more.
  • Numerous endorsements such as disappearing deductible, conviction protector, and more.

The Guarantee

The Guarantee offers its Guarantee Gold program, which focuses on the needs of high-value car owners.  In addition to distinctive insurance products for luxury vehicles, Guarantee provides:

  • Agreed-value protection.
  • Body shop choices.
  • Flexible options for loss of the use of your vehicle.
  • Numerous discount opportunities.
  • Specialized claims handling.
  • Customizable options to suit the needs of high-end vehicle owners.
  • Price aware: Money-saving discounts are available.

Note: All discounts require that specific criteria are met in order to qualify. Speak to your broker for details.

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Coverages Available for Luxury Vehicle Insurance

There are numerous insurance coverage highlights for luxury vehicles. These include:

  • The insurance company agrees to repair the vehicle with original equipment/parts.
  • The luxury-vehicle owner gets to choose a body shop of their preference. Alternatively, the insurance company will help the owner find a quality repair shop of their choice.
  • There are higher limits or no daily limits at all for loss-of-use coverage, depending on the insurance carrier. This covers the cost of a rental vehicle while your vehicle is repaired or replaced in the event of an insured claim.
  • There is an agreed-value endorsement. This means the luxury-vehicle owner will know the settlement value of the vehicle at the time the insurance policy is issued to the policyholder.
  • There is no need to compromise on quality.  A limited waiver of depreciation coverage ensures that the vehicle is replaced with a current make and model when there is an insured claim.

How Do I Get A Luxury Car Insurance Quote?

Our team of luxury car insurance experts at Morison Insurance can get you several quotes for your high-end vehicle. Give us a call or fill out a contact form on this page to speak with one of our luxury car insurance professionals to get a quote started.

Our luxury car insurance brokers at Morison Insurance are here to help with outstanding insurance expertise, insurance experience, and insurance service.

Benefits Of Working With Morison Insurance

  • We work with many insurance companies and can get you multiple insurance quotes. You can compare coverages and prices, and choose the policy that best meets your needs.
  • Our service is personal. We are not a call centre. Every customer has a dedicated broker looking after their insurance needs. Call us any time for any and all of your insurance needs.
  • We are a full-service brokerage offering all lines of insurance. Home, auto, recreational, business, life, and more. Think once and done when you insure with us. Your dedicated broker will look after you, all of your insurance needs and get you all of the discounts you deserve. We provide personal and complete insurance services.
  • We are one of Canada’s top insurance brokerages, winners and finalists of numerous insurance industry awards across the country.  We are great at what we do.
  • We are family-owned and independent. We are not owned – not even in the tiniest amount – by an insurance company. We have been providing insurance for more than a century, and our team works for our customers exclusively.
  • We have numerous bricks and mortar offices to serve you. We also provide full service by email, phone, and online through our website. Our broker team is ready to help when you need us.
  • We care about you. Our customers are not policy numbers. We are family-owned. We maintain our family feel, and we have your best interests at heart.
  • 24/7 claims service.
  • Numerous payment options.


This content is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.

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