Ferraris aren’t like other vehicles, so why should their insurance be? That’s the question the automaker’s Australasian division has asked, launching a new, first-of-its-kind service that recognizes the unique reality of owning a Ferrari.
Ferrari’s insurance products are designed with the high value of its vehicles in mind, offering up to AUS$50 million (US$32.6 million at current exchange rates) in coverage for its owners.
Ferrari insurance will also cover a wide variety of annual mileage requirements, including regularly driven supercars, those that barely drive 100 km (62 miles) per year, and even vehicles that are, say, in storage for the winter.
Read: Ferrari SF90 Crash Leads To Finland’s Biggest Auto Insurance Payout
Ferrari’s insurance service also caters to owners who love driving their cars hard. The company is offering up to $200,000 coverage to those who take their vehicle on track day events, as long as they are hosted by the Ferrari themselves.
Other insurance services include a new-for-old replacement policy and unlimited excess-free windshield replacements. In addition, it offers a flexible agreed value coverage system that recognizes the true market value of its vehicles.
Ferrari is introducing its new insurance policy ahead of the Formula 1 Grand Prix in Melbourne. Unfortunately, drivers Charles Leclerc and Carlos Sainz won’t receive track day coverage if they crash during this weekend’s event, as Ferrari Australasia’s new insurance policies will only be available to owners as of Monday, March 25.
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