Luxury Auto Insurance
Insuring Luxury Vehicles In Mississauga, Burlington and Oakville since 2009.
Ambroziak & Rao is filled with auto insurance brokers who are “car people”. We know vehicle brands, models, trims and engine sizes. We regularly have conversations on the latest luxury and exotic car releases such as the interesting Ferrari Luce or the beautiful Lamborghini Temerario. Cars have been part of our lives since we were kids dreaming of owning one one day.
Insuring luxury vehicles such as Mercedes Benz, BMW, Porsche and Audi is always a pleasure for us. We also know what coverages to recommend and offer rates as if it were our car.
For a luxury auto insurance quote, call 905 366 0066 or visit our office at 250 Dundas St W Suite 408, Mississauga ON L5B 1J2.
High Value Vehicles
Get a competitive quote with customized coverage options on your luxury car.
Vehicle in Company Name
We understand many luxury cars are purchased in company names, we can help!
Pleasure Usage
Many luxury or exotic cars are second or third vehicles used only for pleasure.
Proper Physical Coverage
Speak with our luxury auto insurance brokers and determine what coverage is best for you.
Luxury Auto Insurance Quote
T: (905) 366 0066
F: (905) 276 5373
250 Dundas St W Suite 408 Mississauga ON L5B 1J2
“Compare Luxury Auto Insurance Quotes From Canada's largest Insurance Companies!”
How Insuring A Luxury Vehicle Is Different From Standard Auto
When purchasing a luxury vehicle, it’s likely that you have done a lot of research and possibly saved for a while to finally pickup your dream vehicle. Congratulations on that as its a great accomplishment. Getting the keys to your new vehicle is always thrilling, insuring the vehicle is generally a little less fun. There are a few key differences to pay attention to when insuring your luxury vehicle that may make the process a little tougher.
- Many auto insurance companies will have upper limits on what they can insure. Some companies are fine up to a value of $150,000. Be prepared to provide your auto insurance broker with an exact value of your vehicle.
- Horsepower matters. Many companies will not offer insurance on vehicles over a certain amount of horsepower. These vehicles are too risky for them to insure and the broker will need to find alternate companies.
- Higher Deductibles. Companies that do accept your luxury vehicle may require higher deductibles such as $5000 or $10,000.
If you are purchasing a luxury or exotic vehicle, we highly recommend having a conversation with one of our licensed insurance brokers to figure out which company is best suited for you and what coverages are ideal. You can call our team at 905 366 0066.
Why Luxury Vehicles Are More Expensive To Insure
Luxury vehicles are expensive to purchase, and expensive to insure. There are a few key reasons that make insurance on a luxury vehicle more expensive:
- Tough to work on. If your luxury vehicle has a small fender bender, it could be in the shop for weeks as they are usually uniquely engineered, require specialized tools and in many cases, parts need to be imported making the process much longer.
- High labor costs. If you are repairing your luxury vehicle, you will want to go to an accredited shop that has worked on these vehicles in the past. Since there are less of them, they charge high hourly rates which the insurance company has to cover.
- High theft risk. Unfortunately, luxury and exotic cars are very high theft targets. If your vehicle is stolen and the cost was $200,000, the insurance company would need to pay that out (assuming you have active comprehensive coverage).
- Increased accident risks. Many of these vehicles are also high performance vehicles and possibly rear wheel drive. If you take a turn too quickly, you can easily slide out and cause an accident.
- Luxury vehicles are expensive to purchase. The most obvious reason is that the values of these vehicles are really high and if the company has to pay the client out for one, it will be very difficult to recoup costs.
How To Reuce Your Luxury/ High Performance Vehicle Insurance Rate
Having a luxury vehicle can be quite expensive, and expensive insurance can take the fun away from that. As luxury auto insurance brokers, our goal is to find the right balance of coverage and cost for your luxury car. Below are some popular options that clients have taken in the past:
- Higher deductible. If your vehicle has a very high value, increasing your deductible limits will help keep your monthly premiums low. This helps because insurance companies do not need to worry that the client will claim every small incident.
- Low kilometers. If you will not be using this vehicle often, its a good idea to keep your annual km low on your insurance policy to keep the costs down. If however, you will be using it often, it’s a better idea to notify your insurance company of the correct km to avoid and issues should a claim arise.
- Add the vehicle to an existing auto insurance policy. If you have insurance for a different standard vehicle, its a good idea to add your luxury vehicle to that policy to maximize all the discounts such as multi-policy and multi-car. Confirm with your broker that the current insurance company accepts your luxury vehicle. If they don’t, it may be a good idea to shift all your vehicles to a new company. Your broker will help you with this.
- Bundle the auto insurance policy with your home insurance. Insurance companies will offer favorable rates if you have your luxury car insurance bundled with your Mississauga home insurance policy.
- Pleasure usage. If you own multiple cars, and you have a standard vehicle that you commute with and use regularly, the luxury vehicle can be a pleasure usage car (used on occasion or weekends).
- Good record. With these vehicles, maintaining a good driving and insurance record is crucial. It will be tough to insure a high-performance vehicle if you are a high risk driver.
- Shop around. As always, the most important thing to keep your rates low is to shop around. This is where our Mississauga insurance brokers shine as we have access to many of Canada’s leading insurance companies who accept luxury and high-performance vehicles.
Call our luxury auto insurance brokerage for a quote at 905 366 0066.
Popular Coverages and Endorsements for Luxury Vehicles
Insuring your luxury vehicle requires that balance of coverage and price. We always recommend more coverage with luxury cars, but your budget is what dictates those choices. Below are some popular coverage options for luxury car owners:
- Higher liability limits. Many luxury car owners have other assets that they would like to protect. They do not want to be dragged into a lawsuit thats higher than their liability limit. An example of this is being sued for $1.5M while only having $1M coverage.
- OPCF 43. This is very common for brand new luxury vehicles because they tend to depreciate a lot in the first two years. If your vehicle is a total loss within 24 months, this coverage will pay what you paid to the dealer instead of the current lower value. To qualify for this coverage, it needs to be purchased brand new, or you must have had it on your existing policy with a max term of 24 months. You will also need to provide a bill of sale for the vehicle.
- Comprehensive and Collision coverage. It’s quite rare for a luxury car owner to skip those coverages as repairs can be costly if an accident occurs.
There are many more coverage options that exist for auto insurance. You can visit our dedicated Mississauga Auto Insurance page for more details.
For custom tailored insurance plans, please call our office at 905 366 0066. We will happily discuss your plans for the car and offer suggestions.
What Luxury and Exotic Vehicles Does Ambroziak & Rao Insure?
Ambroziak & Rao has insured many luxury vehicles in the past and also has an appetite for many in the future. Some of the most popular vehicles we get calls about include the following:
- Porsche 911 (all models)
- Porsche Cayman/Boxter
- Porsche Macan
- Porsche Cayenne
- Mercedes-Benz S class, E class and AMG variants
- BMW M vehicles (M3, M4, M5, M6)
- Corvettes
- Audi sedans and SUVs (Q, Q7, S5, RS5)
- Cadillac
- Acura
- Lexus
- Honda Civic Type R
- …and many more.
If you have a high performance vehicle or luxury car, call us today at 905 366 0066.
Customer Success
Margaret Bara
T: (905) 366 0066
F: (905) 276 5373
E: mbara@pbnet.ca
Customer Service
Anu Kaur
T: (905) 366 0066
F: (905) 276 5373
E: akaur@pbnet.ca
Customer Success
Teresa Klubinski
T: (905) 366 7530
F: (905) 276 5373
E: teresak@pbnet.ca
Director & Lead Broker
Lidia Ambroziak
T: (905) 276 9597
C: (416) 737 9647
E: lidiaa@pbnet.ca
Director & Lead Broker
Harish Rao
T: (905) 276 9495
C: (416) 420 2383
E: hrao@pbnet.ca
Why Ambroziak & Rao?
Why choose us as your luxury vehicle insurance brokers? Our dedication to personalized service, professional advice and coverage options to create the right balance of coverage and cost for you.
Dedicated Broker
You will be assigned a licensed insurance broker who will offer the best rates and help service your luxury car insurance policy.
Fast Quotes
As insurance brokers, we know that the excitement of a "fun" car may cause you to forget the insurance part. We are here to help you quickly!
Contact
Ambroziak & Rao prides itself on the communication it has with clients. We can be contacted via email, phone, text and respond very quickly! 905 366 0066.
Best Rates
As insurance brokers, we have access to many exotic / luxury vehicle insurance companies which means we can offer the best rate for you!
Ambroziak & Rao Insurance Brokers Reviews
Frequently Asked Questions
We are more than happy to answer any and all of your luxury auto insurance related questions. Speak to one of our licensed insurance brokers today!
?
Yes, Ambroziak & Rao is a RIBO licensed insurance brokerage operating under license 3428. You can search us at the RIBO Brokerage Search.
As established Mississauga insurance brokers, we have partnered up with Canadas largest and most trusted insurance companies. This means our brokers are able to shop your coverage requirements with multiple insurers all at once.
The first step before creating an insurance policy is creating a quote. One of our experienced Mississauga insurance brokers will happily help you get competitive quotes from the largest insurance carriers in Canada.
Once a quote is completed and you are happy with the coverage and price, our team will create the applications, confirm your records and send the applications over to your email for e-signing.
Once signed, our team will review the policy and issue it with the insurance company.
If you would like to call our team at Ambroziak & Rao Insurance Brokers, you can call 905 366 0066, or visit our Mississauga office at 250 Dundas St W Suite 408 Mississauga ON L5B 1J2.
If you are not financing or leasing the vehicle, you could purchase one-way or liability only insurance to save you on premiums. This isn’t always recommended but it may work for certain clients. Speak with us for a more custom opinion.
Purchasing an older luxury car is sometimes a great financial move as the car has depreciated a lot. With regards to insurance, it may still be expensive to insure as repair costs could be even higher, and parts tougher to find. Many older vehicles still have a lot of horsepower and less safety systems.
For a quote on an older luxury vehicle, please call us at 905 366 0066.