AXA XL launches insurance for Swiss museums and car collectors

AXA XL has developed an insurance policy tailored for museums and private collectors of luxury cars in Switzerland.

This “all-risks” product covers collections valued at 1 million CHF (1.2 million USD) or more and consisting of at least three vehicles, whether registered or not.

The policy provides year-round coverage for property damage as well as transport risks.

According to AXA XL, Switzerland holds a strong position in the classic and luxury car market. The total value of such vehicles in the country is estimated at 7.7 billion CHF (9.6 billion USD). Seven of the world’s 100 most valuable car collections are owned by Swiss collectors.