Ferrari cars are not like any other car, they are true supercars with a high value that often increases over time, becoming collector’s items. Consequently, insurance cannot be the same as for ordinary cars. The Australian division of the Prancing Horse automaker has decided to offer its customers a new service that recognizes the unique reality of owning a Ferrari. Australian Ferrari customers will now be able to insure their supercars for up to $50 million (US$32.6 million or €29.9 million at current exchange rates).
Ferrari to launch a new insurance service that covers up to 50 million Australian dollars
This insurance will be valid for a large number of vehicles, including supercars that are driven regularly or that only do 100 km per year. The company offers coverage up to $200,000 for those who take their vehicle to track day events, as long as they are hosted by Ferrari itself.
There will also be additional insurance services that include an unlimited windshield replacement policy with no deductible. So even those who use their car extensively can still benefit from an insurance product. A flexible agreed value coverage system is also offered, which recognizes the real market value of its vehicles.
The new insurance policy for Ferraris will be presented at the Formula 1 Grand Prix to be held this weekend in Australia, which will also be attended by the Maranello team with its drivers Charles Leclerc and Carlos Sainz. The new insurance policies will be available only to owners starting from Monday, March 25th. If this “test” goes well, the initiative could be extended to other countries in the world.