Specialty Overview

When it comes to car insurance, some classifications of individuals, vehicles and usage requirements may necessitate special treatment and coverage, but not always. Generally, individuals can obtain coverage under a standard car insurance policy, and don't need to obtain a "special" policy, geared specifically for them.

For example, car insurance for a woman is no different, except for the cost, than car insurance for a man. Of course, that assumes that all things are equal. In some countries (the U.K. for example), there are specialty insurance providers who only offer insurance to women, but that hasn't yet happened in the United States. Until that day comes, if you're a woman, consider yourself lucky, because insurers look more favorably upon women drivers, and, in general, provide much better rates.

Teenagers, however, are a different story. Car insurance for teenagers is generally very expensive, but once they have their driver's license, you have no choice but to either add them to an existing policy, or buy a separate policy. The difference in price may be negligible, but you'll need to contact your insurance provider to determine that. One way to save money on teenager car insurance is to buy them their own car. You read that right. If you've got a newer model car, with full coverage, adding your teenager as even an occasional driver will dramatically increase the premium on that car. But if you invest in a reliable used car, with limited coverage, and list your teenager as the primary driver of that car, it will be far less expensive.

Individuals who use their car for business fall into the gray area. Depending on how much time they spend behind the wheel, for purely business purposes, they may or may not need either a separate commercial car insurance policy, or a rider to an existing personal policy. Your insurance provider will help you determine your need, but you shouldn't let the price differential stop you from considering it. First, it's usually only about 20% higher than a personal car insurance policy, and second, if you are in an accident while using your vehicle for business, and you haven't informed the insurance company of that, they may deny your claim outright, as misrepresentation.

Car owners with specialty or exotic cars may need classic car insurance or antique car insurance, as a policy, separate and distinct from an existing personal car insurance policy. The reason is simple, these cars are collector's items, and they appreciate in value. Most auto insurance companies treat vehicles as depreciating assets. A separate policy, by an insurer who is familiar with the special need and requirements of these collector's items, will best be able to serve those needs.