Private Client Auto & Collections Coverage¶

Policy Form No. APX-AC-2025-004 | Edition Date: September 2025 | Apex Financial Partners Insurance Company

This Policy is a legal contract between the Named Insured and Apex Financial Partners Insurance Company. Please review all provisions carefully. Contact your Apex Private Client advisor with any questions regarding your coverage.

Policy Overview¶

The Apex Private Client Auto & Collections Coverage Policy ("Policy") is a specialized automobile insurance contract engineered for high-net-worth individuals who own, operate, or collect luxury, exotic, vintage, antique, and limited-production motor vehicles. This Policy is issued by Apex Financial Partners Insurance Company ("the Company," "We," "Us," or "Our"), domiciled in the State of Delaware and holding an AM Best rating of A+ (Superior).

Subject to the terms, conditions, exclusions, and limits of liability set forth herein, the Company shall indemnify the Named Insured against direct physical loss or damage to Covered Vehicles and against liability arising from the ownership, maintenance, or use of Covered Vehicles. This Policy replaces standard personal auto insurance with a comprehensive program specifically designed for vehicles whose value, rarity, or provenance requires specialized underwriting, valuation, and claims handling expertise.

Coverage is available for daily-driver luxury vehicles, exotic and supercar models, classic and antique automobiles (25 years or older), limited-production and coachbuilt vehicles, competition and track-day vehicles (by endorsement), and curated multi-vehicle collections. The total insured fleet value under a single Policy may range from $250,000 to $50,000,000 or more.

Definitions¶

The following terms, when used in this Policy, shall have the definitions set forth below. These definitions apply to all sections of this Policy, including endorsements, schedules, and amendments.

"Named Insured" means the individual identified on the Declarations Page, including their spouse or domestic partner residing in the same household.

"Covered Vehicle" means any motor vehicle listed on the Vehicle Schedule attached to this Policy, including all factory-installed and aftermarket equipment, accessories, modifications, and custom features as described on the Vehicle Schedule.

"Agreed Value" means the stated amount of coverage for each Covered Vehicle as shown on the Vehicle Schedule, which has been mutually agreed upon by the Named Insured and the Company based on a current appraisal, market valuation, or comparable sales data. In the event of a total loss, the Agreed Value shall be the amount payable, without deduction for depreciation.

"Total Loss" means a Covered Vehicle that has been damaged to the extent that the cost to repair equals or exceeds the Agreed Value, or a Covered Vehicle that has been stolen and not recovered within thirty (30) days.

"Partial Loss" means damage to a Covered Vehicle that is less than a Total Loss and is economically repairable.

"Collision" means the upset of a Covered Vehicle or its impact with another vehicle, object, or the ground surface.

"Comprehensive Loss" means direct physical loss or damage to a Covered Vehicle from any peril other than Collision, including but not limited to fire, theft, vandalism, windstorm, hail, flood, falling objects, animal strikes, glass breakage, and civil commotion.

"Liability" means the Named Insured's legal obligation to pay damages because of Bodily Injury or Property Damage arising from an automobile accident involving a Covered Vehicle.

"Uninsured/Underinsured Motorist" means an operator of a motor vehicle that (a) has no bodily injury liability insurance or bond in effect at the time of the accident; or (b) has liability insurance with limits less than the Named Insured's damages; or (c) is a hit-and-run vehicle whose operator cannot be identified.

"Original Equipment Manufacturer (OEM) Parts" means parts manufactured by or for the original manufacturer of the Covered Vehicle. This Policy guarantees the use of OEM parts for all repairs, and under no circumstances shall aftermarket or non-OEM parts be used without the Named Insured's written consent.

"Diminished Value" means the reduction in the fair market value of a Covered Vehicle resulting from the fact that the vehicle has sustained damage and been repaired, as compared to a substantially similar vehicle that has not been damaged. This Policy provides Diminished Value coverage as described herein.

Coverage Details¶

Part I — Liability Coverage¶

The Company shall pay on behalf of the Named Insured all sums which the Named Insured becomes legally obligated to pay as damages because of Bodily Injury or Property Damage arising out of the ownership, maintenance, or use of a Covered Vehicle. Coverage extends to the Named Insured, family members residing in the same household, and any person operating a Covered Vehicle with the Named Insured's express permission.

Higher limits are available and may be required when this Policy is combined with the Apex Executive Shield Umbrella Liability Policy.

Part II — Uninsured/Underinsured Motorist Coverage¶

The Company shall pay compensatory damages that the Named Insured is legally entitled to recover from the owner or operator of an uninsured or underinsured motor vehicle because of Bodily Injury sustained by the Named Insured or any family member. Limits: $500,000 per person / $1,000,000 per accident, or as required by state law, whichever is greater.

Part III — Physical Damage Coverage (Collision & Comprehensive)¶

The Company shall pay for direct physical loss or damage to a Covered Vehicle, including its equipment, accessories, and modifications as described on the Vehicle Schedule. Coverage is provided on an Agreed Value basis, meaning:

• Total Loss. If a Covered Vehicle is a Total Loss, the Company shall pay the full Agreed Value shown on the Vehicle Schedule, without deduction for depreciation, with no coinsurance penalty.
• Partial Loss. If a Covered Vehicle sustains a Partial Loss, the Company shall pay the cost to restore the vehicle to its pre-loss condition using OEM parts, original materials, and manufacturer-approved repair techniques. The Company shall authorize repairs only at manufacturer-authorized service centers, marque-specific specialists, or concours-quality restoration shops approved by the Named Insured.

Part IV — Diminished Value Coverage¶

In the event a Covered Vehicle sustains a Partial Loss and is repaired, the Company shall pay the Diminished Value of the vehicle, as determined by an independent appraiser mutually agreed upon by the Named Insured and the Company. The Diminished Value benefit is limited to 15% of the Agreed Value per Occurrence, with a maximum aggregate of $500,000 per policy period.

Part V — Spare Parts & Memorabilia Coverage¶

The Company shall cover spare parts, tools, manuals, automobilia, and memorabilia owned by the Named Insured and related to the Covered Vehicles, up to a combined limit of $100,000, on an Agreed Value basis. Items must be listed on the Spare Parts Schedule and stored at the location shown on the Declarations Page or in an approved storage facility.

Part VI — Worldwide Transit & Storage Coverage¶

This Policy covers direct physical loss or damage to a Covered Vehicle while in transit anywhere in the world by land, sea, or air carrier, including during loading and unloading. Coverage is provided on an Agreed Value, all-risk basis, subject to the exclusions herein. The vehicle must be shipped by a professional, licensed carrier. Coverage also extends to vehicles in storage at approved storage facilities worldwide for up to twelve (12) months without prior notification to the Company.

Coverage Limits & Deductibles¶

Exclusions¶

This Policy does not apply to, and the Company shall not pay for, any loss, damage, claim, or liability arising out of, resulting from, or in connection with any of the following:

1. Wear and Tear. Mechanical or electrical breakdown, failure, or malfunction, wear and tear, gradual deterioration, rust, corrosion, oxidation, delamination, or loss of finish due to age or environmental exposure, unless such condition results directly from a covered Collision or Comprehensive peril.

2. Racing and Competition. Loss or damage occurring while a Covered Vehicle is being used in any prearranged or organized racing, speed contest, demolition contest, stunting, or timed competition event, unless the Track Day Coverage Endorsement is attached and applicable.

3. Intentional Damage. Loss or damage intentionally caused by, at the direction of, or with the consent of any Named Insured or any person using the Covered Vehicle with the Named Insured's permission.

4. War and Terrorism. Loss or damage caused by war (declared or undeclared), civil war, insurrection, rebellion, revolution, military action, or terrorism.

5. Nuclear Hazard. Loss or damage resulting from nuclear reaction, nuclear radiation, or radioactive contamination, however caused.

6. Government Seizure. Loss or damage resulting from confiscation, seizure, nationalization, or destruction by order of any government or public authority.

7. Pollution and Contamination. Liability for Bodily Injury or Property Damage arising from the discharge, dispersal, or release of pollutants from a Covered Vehicle, except liability arising from the normal operation of the vehicle's engine and exhaust system.

8. Non-Permitted Drivers. Loss or damage occurring while the Covered Vehicle is operated by any person not authorized by the Named Insured or by any person under the age of licensure in the applicable jurisdiction, or by any person whose driver's license has been suspended or revoked.

9. Commercial Use. Loss or damage occurring while the Covered Vehicle is used for hire, livery, ride-sharing, delivery service, or any commercial purpose, unless specifically endorsed.

10. Fraud. Any claim in which the Named Insured or any person acting on their behalf has concealed or misrepresented any material fact or circumstance relating to the claim, the Covered Vehicle, or this Policy.

Conditions & Warranties¶

Duties After a Loss¶

In the event of loss or damage to a Covered Vehicle, the Named Insured shall: (a) protect the vehicle from further damage and arrange for its safe removal from the scene, if possible, by flatbed transport only; (b) notify the Company within twenty-four (24) hours; (c) file a police report for all theft, vandalism, and hit-and-run losses; (d) cooperate with the Company's investigation and provide any requested documentation; (e) not authorize or commence repairs without the Company's prior written approval, except for emergency measures to prevent further damage; and (f) submit a signed Proof of Loss within sixty (60) days of the Company's request.

Examination Under Oath¶

The Company may examine the Named Insured under oath regarding any matter related to this Policy or any claim, as often as the Company reasonably requires. Refusal to submit to examination under oath shall constitute a material breach and grounds for denial of the claim.

Suit Against the Company¶

No suit or action may be brought against the Company for recovery under this Policy until sixty (60) days after Proof of Loss has been filed and the amount of loss has been determined either by agreement or by final judgment. No suit may be brought after two (2) years from the date of loss.

Choice of Repair Facility¶

The Named Insured shall have the right to select the repair facility, subject to the Company's approval. The Company shall not direct repairs to any facility that is not: (a) an authorized dealer or service center for the make of the Covered Vehicle; (b) a marque-specific specialist with documented expertise; or (c) a concours-quality restoration facility. The Company guarantees the use of OEM parts for all repairs.

Liberalization¶

If the Company adopts a revision to this Policy form that broadens coverage without additional premium, such broadened coverage shall automatically apply.

Claims Process¶

1. Emergency Response (Immediate). Contact Apex Private Client Auto Claims at 1-800-555-APEX (2739). A claims concierge is available 24/7. For accidents, remain at the scene and obtain a police report. For theft, notify police immediately and obtain a report number.

2. Flatbed Towing (Immediate). The Company shall arrange and pay for flatbed towing of the Covered Vehicle to the nearest approved repair facility or secure storage location. Under no circumstances shall exotic, classic, or collectible vehicles be towed on a wheel-lift or hook-and-chain truck. The Company maintains a nationwide network of enclosed flatbed carriers for high-value vehicles.

3. Claims Concierge Assignment (Within 24 Hours). A dedicated Private Client claims concierge will be assigned within twenty-four (24) hours. The concierge will coordinate all aspects of the claim, including repair facility selection, rental vehicle arrangement, and communication with the Named Insured.

4. Vehicle Inspection (Within 3 Business Days). An appraiser specializing in the specific marque and model of the Covered Vehicle will inspect the damage within three (3) business days. For rare or highly specialized vehicles, the Company may engage a marque-specific expert appraiser.

5. Repair Authorization (Within 5 Business Days). Upon completion of the inspection and agreement on the scope of repair, the Company shall issue a repair authorization. The Named Insured must approve the repair plan before work commences. Only OEM parts and manufacturer-approved techniques shall be used.

6. Rental Vehicle Provision. A comparable luxury rental vehicle will be provided for the duration of repairs, at a rate of up to $500 per day for a maximum of sixty (60) days. The Named Insured may select the rental vehicle from approved luxury and exotic rental partners.

7. Claim Payment. For Total Loss claims, the Company shall pay the full Agreed Value within ten (10) business days of the Named Insured's acceptance of the Total Loss determination and return of the vehicle's title and keys. For Partial Loss claims, the Company shall pay the repair facility directly upon satisfactory completion of repairs, and shall separately pay any Diminished Value amount to the Named Insured within fifteen (15) business days of the independent appraisal.

Waiting Periods & Effective Dates¶

This Policy shall take effect at 12:01 A.M. standard time on the effective date shown on the Declarations Page. Coverage applies immediately; there is no waiting period or elimination period for any coverage under this Policy.

Newly acquired vehicles are automatically covered for up to thirty (30) days from the date of acquisition, provided the Named Insured notifies the Company and provides a current appraisal or purchase invoice within that period. The Agreed Value for newly acquired vehicles shall be the purchase price or appraised value, whichever is agreed upon. Failure to notify the Company within thirty (30) days may result in coverage being limited to Actual Cash Value rather than Agreed Value.

Vehicles purchased at auction are covered from the moment the auction hammer falls ("hammer coverage"), provided the Named Insured notifies the Company within forty-eight (48) hours of the purchase and arranges for the Company-approved transit of the vehicle.

Cancellation & Non-Renewal Terms¶

Cancellation by the Named Insured¶

The Named Insured may cancel this Policy at any time by submitting written notice to the Company. The Company shall refund the unearned premium on a pro-rata basis within thirty (30) days of the effective date of cancellation. Individual vehicles may be removed from the Vehicle Schedule at any time, with a corresponding pro-rata refund of the premium allocable to the removed vehicle.

Cancellation by the Company¶

The Company may cancel this Policy by providing written notice to the Named Insured at least: (a) ten (10) days before the effective date of cancellation for non-payment of premium; or (b) sixty (60) days before the effective date of cancellation for any other reason. Grounds for cancellation by the Company include, but are not limited to: material misrepresentation, substantial increase in hazard, failure to maintain required security measures for stored vehicles, and driver record deterioration.

Non-Renewal¶

The Company shall provide written notice of non-renewal at least ninety (90) days before the expiration date. The Named Insured shall have the right to request a conference with the Company's Private Client management to discuss the non-renewal.

Premium Payment Terms¶

The annual premium for this Policy is shown on the Declarations Page and is based on the total insured fleet value, number and type of vehicles, storage and security arrangements, driver profiles, annual mileage, and geographic rating territory.

Premiums may be paid annually, semi-annually, or quarterly. A modal loading factor of 3% (semi-annual) or 5% (quarterly) applies to installment plans. A Grace Period of fifteen (15) days is allowed for each installment payment after the first.

Low-Mileage Discounts¶

Vehicles driven fewer than 2,500 miles per year qualify for a low-mileage discount of 10% – 25% off the physical damage premium for that vehicle. Vehicles designated as "collection/show only" with fewer than 500 miles per year qualify for a 30% discount.

Multi-Vehicle Discount¶

A fleet discount of 5% applies to policies insuring five (5) or more vehicles, increasing to 10% for ten (10) or more vehicles, and 15% for twenty (20) or more vehicles.

Safe Storage Discount¶

Vehicles stored in a climate-controlled facility with 24-hour monitoring, fire suppression, and restricted access qualify for a 10% safe storage discount on physical damage premium.

Endorsements & Riders¶

The following endorsements are available to customize this Policy:

• Track Day & Time Trial Endorsement — Extends physical damage coverage to sanctioned track day events, high-performance driving education (HPDE) events, and non-competitive time trials. Agreed Value is reduced by 25% during track use. Deductible: $10,000 or 5% of Agreed Value, whichever is greater. Annual premium: 15% – 25% surcharge on the vehicle's physical damage premium.
• Concours Show Coverage — Provides agreed-value coverage during transport to and participation in concours d'elegance and judged automotive events, including coverage for show-related accessories and display equipment. No additional deductible. Annual premium: $250 – $1,000 per vehicle.
• Cross-Border Coverage (Mexico/Canada) — Extends liability and physical damage coverage for travel into Mexico and Canada, including compliance with local compulsory insurance requirements. Annual premium: $150 – $500 per vehicle.
• Rally & Tour Coverage — Provides coverage during organized vintage rallies, tours, and driving events that are non-competitive in nature. Annual premium: $500 – $2,000 per vehicle.
• Gap Coverage — If the Agreed Value at the time of Total Loss is less than the outstanding loan or lease balance, the Company shall pay the difference up to 125% of the Agreed Value. Annual premium: $75 – $200 per vehicle.
• Spare Parts Increase — Increases the Spare Parts & Memorabilia limit from $100,000 to $250,000 or $500,000. Annual premium: $150 – $400.

Regulatory Information¶

Apex Financial Partners Insurance Company is domiciled in Delaware and licensed in all 50 states, the District of Columbia, and the U.S. Virgin Islands. NAIC Company Code: 99201. AM Best Rating: A+ (Superior), Financial Size Category XV.

For questions, concerns, or complaints, contact Apex Private Client Auto Services at 1-800-555-APEX (2739) or email autoclaims@apexfinancialpartners.com.

If you are not satisfied with the Company's response, you have the right to contact your state's Department of Insurance. You may also file a complaint with the National Association of Insurance Commissioners (NAIC) Consumer Information Source at naic.org.

Delaware Department of Insurance: 1351 W. North Street, Suite 101, Dover, DE 19904 | Phone: (302) 674-7300 | Website: insurance.delaware.gov

The Company participates in all applicable state insurance guaranty funds, providing policyholders with a safety net in the unlikely event of insurer insolvency, subject to statutory limits and conditions.

This Policy form has been filed with and approved by the insurance regulatory authorities in each state where it is offered. Specific provisions may be modified by state-mandated endorsements to comply with local laws and regulations. In the event of any conflict between this Policy and applicable state law, state law shall govern.

Apex Financial Partners Insurance Company | 200 Summit Avenue, Suite 3200 | Wilmington, DE 19801 | NAIC #99201