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Written byBen Luthi
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Ben Luthi
Ben Luthi has been writing about personal finance for over a decade with the intent to help people improve their finances and lifestyle. He’s covered just about every personal finance topic under the sun for a variety of publications, including the Wall Street Journal, Fortune Recommends, Yahoo Finance, Experian, Credit Karma, NerdWallet, and many more. Ben lives near Salt Lake City with his two kids and two cats.
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Edited bySarah Archambault
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Experienced personal finance writer
Background working with banks and insurance companies
Sarah enjoys helping people find smarter ways to spend their money. She covers auto financing, banking, credit cards, credit health, insurance, and personal loans.
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Table of contents
Specialty vehicle insurance provides protection for non-standard vehicles that traditional car insurance doesn’t cover. Whether you own a recreational vehicle (RV), motorcycle, boat, all-terrain vehicle (ATV), or classic car, specialty vehicle insurance is designed to cover the unique risks these vehicles face.
As you evaluate your options, here’s what you need to know about the basics of specialty auto insurance, including what’s covered, what’s excluded, typical costs, and how to find the right policy for your needs.
Quick Facts
Many auto insurance companies also offer specialty vehicle policies, and you may be able to get a bundling discount.
A specialty vehicle insurance policy can cost anywhere from $14 to $88 per month, depending on the type of vehicle you’re insuring, according to data from Progressive.
Specialty vehicle insurance won’t cover things like commercial use, improper maintenance, or wear and tear.
What is specialty vehicle insurance?
Specialty vehicle insurance is a type of coverage designed specifically for vehicles that fall outside the scope of standard auto insurance policies. Everyday car insurance protects sedans, trucks, and SUVs. But specialty policies cover recreational and unique vehicles that typically have different uses, values, and unique risks.
Common examples include:
Antique or collector cars
ATVs and dune buggies
Boats and watercraft, like Jet Skis and yachts
Golf carts
Motorcycles and dirt bikes
RVs and travel trailers
Snowmobiles
Each vehicle type requires different coverage options based on how you use it, where you store it, and its replacement value.
Coverage requirements vary significantly by state and vehicle type. For example, most states mandate liability coverage for motorcycles that operate on public roads, while others may have specific requirements for boats based on horsepower ratings.
Good to Know
A specialty auto insurer can help you understand your state’s minimum requirements and recommend additional protection based on your vehicle’s value and how you use it.
What specialty vehicle insurance covers
Specialty vehicle insurance includes several core coverages that protect both you and your vehicle, though the specifics may vary depending on your vehicle type:[1]
Liability coverage: Liability insurance pays for bodily injury and property damage you cause to others while operating your specialty vehicle. This is typically required by law for vehicles used on public roads or waterways.
Comprehensive coverage: Comprehensive insurance protects your vehicle from non-collision damage, including theft, fire, vandalism, storm damage, and damage caused by falling objects. This is especially important for expensive collector cars, custom parts, or high-value watercraft.
Collision coverage: Collision insurance pays for repairs to your specialty vehicle after an accident, regardless of who’s at fault. This helps cover damage from crashes, rollovers, or impacts with objects.
Medical payments coverage: Medical payments insurance covers medical expenses for you and your passengers after an accident, regardless of fault. This includes hospital bills, surgical costs, and rehabilitation expenses.
Uninsured motorist coverage: Uninsured/underinsured motorist coverage protects you if someone hits you and they don’t have insurance or they don’t have enough coverage to pay for your damages and injuries.
What specialty vehicle insurance doesn’t cover
Like all insurance policies, specialty vehicle insurance has specific exclusions that limit when the insurance company will pay claims. Understanding these gaps helps you avoid surprises when filing a claim.
These are some common exclusions:
Racing or competitive events: Most policies exclude coverage for any damage that occurs during organized races, timed competitions, or speed contests.
Commercial use: If you use your specialty vehicle for business purposes, like offering paid tours on your boat or operating your ATV for farm work, you’ll need commercial coverage.
Wear and tear: Standard specialty vehicle insurance doesn’t cover normal deterioration, rust, corrosion, or mechanical breakdowns.
Improper maintenance: Damage resulting from neglect or failure to maintain your vehicle according to manufacturer guidelines is typically excluded.
Always review your policy details carefully to understand all exclusions, and ask your insurer about endorsements that can fill coverage gaps.
Types of specialty vehicle insurance
Specialty vehicle insurance isn’t one-size-fits-all. Each vehicle type requires customized coverage to address specific risks and uses. Here’s a quick look at common coverage options by vehicle type.
RV insurance covers recreational vehicles used for travel and temporary living. Policies typically include liability coverage for accidents, collision and comprehensive coverage for damage to your RV, medical payments coverage, and uninsured/underinsured motorist insurance.
Many insurers offer optional add-ons like roadside assistance for breakdowns, protection for personal belongings inside your vehicle, and vacation liability coverage that protects you if someone is injured at your campsite.
Motorcycle insurance protects bikes, scooters, and mopeds with liability, collision, and comprehensive coverage. It also has uninsured/underinsured motorist insurance.[2]
Optional coverage includes gear coverage to replace damaged helmets and riding equipment, plus accessories coverage for custom parts and engine modifications you’ve added to your bike.
Boat insurance covers vessels from small fishing boats to large yachts. Policies provide hull protection against physical damage, liability coverage for injuries or property damage you cause, and towing coverage if you break down on the water. You may also get protection for accessories and permanently attached equipment.
Exclusions typically include wear and tear and damage incurred during racing events.[3]
ATV insurance covers all-terrain vehicles, dirt bikes, and similar off-road vehicles. Coverage includes liability for injuries you cause, collision protection, and medical payments for riders.
Optional coverage can protect stored gear and custom equipment.
Insurance for classic cars and hot rods differs from standard auto policies because these vehicles often appreciate in value rather than depreciate. Policies typically offer agreed-value coverage instead of actual cash value, meaning you and the insurer agree up front on the vehicle’s worth.
Most policies require limited usage and specific storage requirements to qualify for lower rates.[4]
How much does specialty vehicle insurance cost?
The cost of specialty vehicle insurance varies widely based on vehicle type, replacement value, how you use it, storage conditions, and your location. Generally, vehicles with higher values, more powerful engines, or riskier usage patterns cost more to insure. Your driving record and claims history also affect your policy premium.
Here are national average costs for common specialty vehicles, according to Progressive:
Vehicle Type  | Monthly Cost | Annual Cost |
|---|---|---|
| Motorcycle | $14–$20 | $164–$244 |
| Travel trailer | $50 | $594 |
| Motor home | $88 | $1,052 |
| Boat | $25–$55 | $301–$657 |
Keep in mind that these are averages. Your actual costs depend on factors like your vehicle’s age, value, coverage limits, deductibles, and applicable discounts.
How to buy the best specialty vehicle insurance
Finding the right specialty vehicle insurance takes research, but following these steps helps ensure you get adequate protection at a fair price:
1. Determine your state’s requirements
Start by checking what coverage your state mandates for your vehicle type.
2. Assess the value and use of your vehicle
Consider how much your speciality vehicle is worth, how often you use it, and where it’s stored when not in use.
3. Compare multiple quotes
Get quotes from at least three different insurers that specialize in your vehicle type. Coverage limits, deductibles, and exclusions often vary significantly between companies, affecting both your premium and your protection. It’s also a good idea to research company reviews and ratings to see how they stack up.
4. Review coverage limits and exclusions
Make sure you understand what’s covered and what’s not. Pay special attention to coverage limits for accessories, custom parts, and towing to ensure they match your needs.
5. Ask about discounts
Many insurers offer discounts for bundling multiple policies, completing safety courses, or having a clean driving record, among other things. These can significantly reduce your premium.
Specialty vehicle insurance FAQs
If you’re shopping for specialty vehicle insurance, the additional information below can help as you research your coverage options.
What qualifies as a specialty vehicle?
Specialty vehicles include any non-standard vehicle not covered by traditional auto insurance, such as motorcycles, RVs, boats, ATVs, snowmobiles, golf carts, and antique or collector vehicles.
Is specialty insurance required by law?
Requirements vary by state and vehicle type. Most states require liability coverage for motorcycles and other vehicles used on public roads, but requirements for boats and off-road vehicles differ significantly.
Can you bundle specialty vehicle insurance with your auto or home policy?
Yes. Many insurance companies offer discounts when you bundle specialty vehicle coverage with your existing auto or homeowners insurance. Bundling multiple policies may lower your overall premium and simplify claims handling.
How do insurers calculate premiums for specialty vehicles?
Insurers may consider your vehicle’s type, age, value, engine size, usage patterns, and storage location when determining your premium. Insurers will also likely consider your driving record, claims history, selected coverage options, and deductibles.
Does standard auto insurance cover RVs, motorcycles, or boats?
No. Standard auto insurance only covers regular passenger vehicles. RVs, motorcycles, boats, and other specialty vehicles require separate policies designed for their specific risks and uses.
Sources
- Insurance Information Institute. "Auto insurance basics—understanding your coverage."
- Insurance Information Institute. "Motorcycle insurance."
- Insurance Information Institute. "Boat insurance and safety."
- Insurance Information Institute. "Insuring your classic car."
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Ben Luthi
Ben Luthi has been writing about personal finance for over a decade with the intent to help people improve their finances and lifestyle. He’s covered just about every personal finance topic under the sun for a variety of publications, including the Wall Street Journal, Fortune Recommends, Yahoo Finance, Experian, Credit Karma, NerdWallet, and many more. Ben lives near Salt Lake City with his two kids and two cats.
Edited bySarah Archambault
Experienced personal finance writer
Background working with banks and insurance companies
Sarah enjoys helping people find smarter ways to spend their money. She covers auto financing, banking, credit cards, credit health, insurance, and personal loans.
Featured in