Having seen a little bit of the Ferrari F12 on TG earlier – just wondered how much it would cost to insure a thing like that? Any ideas?

Assuming 40 year old bloke, full no claims etc rather than the likes of Mr Potato head Rooney or similar…

Something in the region of around 8-10k if you have a full clean license I’d imagine. There was an article in Evo a few months back when the owner of a Pagani Zonda discussed its running costs after he’d sold it (for a vast profit) I think that was something in the region of 20k a year to insure, and that was worth around 700k?

Not a supercar as such but i had a 911 GT3 and it was cheaper to insure (wife and I only, $2500 excess, glass cover etc) than my T5 Transporter !! It was worth about 5 times as much. Bizarre.

Do we go by cost or speed for the definition of supercar?

I’ve had an extremely rare, sub-4 second 0-60 car (which at least puts it into supercar territory in terms of how fast it was) insured fully comprehensive with unlimited mileage for just over £500 a year. But then it was only worth about £5k 😕

I think the numbers of a particular car involved in crashes and thefts has almost as much to do with insurance risk as the cost of replacement.

An old client had a substantial Ferrari collection, including an Enzo.

I seem to remember he had two concurrent policies, one for total loss and another which resembled a normal motor insurance policy (I could be completely wrong here, but there was something a bit unusual about how the insurance was set up). I can’t recall the figure for the Enzo, but I don’t remember being shocked, so it couldn’t have been too bad (relatively speaking!).

I’m sure I remember reading somewhere that legally you don’t actually need ‘car insurance’, but you do need some sort of bond to cover the costs of a claim. Consequently, car insurance provides that means. You could therefore give a third party a bag of cash and insure yourself. Apparently, this is what the celebs do.

Not that bad. Lamborghini Aventador 7000miles, clean license 10yrs no claims…..£1600

You could therefore give a third party a bag of cash and insure yourself. Apparently, this is what the celebs do.

Or since fully comp has been cheaper than TPFT for a while now, run a high excess and don’t claim for small-medium costs.

I’m not sure if the ‘bond’ is still available, but it was at £25k about 15 years ago.

Is the drink-drive special, ‘Road Traffic Act’ insurance still available?

I’m sure I remember reading somewhere that legally you don’t actually need ‘car insurance’, but you do need some sort of bond to cover the costs of a claim. Consequently, car insurance provides that means. You could therefore give a third party a bag of cash and insure yourself. Apparently, this is what the celebs do.

Yes, to satisfy third party requirements, you can give security instead of insuring. Can’t remember the figure, but it will probably be lower than you think, perhaps under £1m?

That said, if it was a toss up of insuring TPL for a few hundred/thousand a year or giving security over £1m, I know which I would prefer!

For supercars, it wouldn’t have thought it would be the TPL that costs a lot.

My employer self-insures their fleet of vehicles – about 3000. Requires a deposit (around £2m IIRC) with the Insurance Bureau so no need to have a traditional insurance policy. Presumably someone like Chris Evans could do similar for his fleet and have a separate policy covering total loss/theft from home.

One of my old school friends dad had a Ferrarri F40 back around 2000 and I think he mentioned the insurance for that being no more than their Chelsea Tractor, although it did have a mileage limit. Guessing they presume these cars are well looked after and treated like an extra child!

I renewed the R1 insurance last week. £76 FC! It’s great getting old more mature 🙂

it’s great getting more mature

Maybe you get a discount for having stabilisers too 😉

I’m sure I remember reading somewhere that legally you don’t actually need ‘car insurance’, but you do need some sort of bond to cover the costs of a claim. Consequently, car insurance provides that means. You could therefore give a third party a bag of cash and insure yourself. Apparently, this is what the celebs do.

£500,000 deposited with the Accountant General (whoever that is) exempts you from the requirement to have an insurance policy.

P20 – is that your motor, sounds like an opinion from experience rather than being a desk jockey insurance telesales executive in a Burton’s suit!

If it is, are there particular requirements required? Alarmed garage, tracker, mileage limits, no track days etc? I sometimes wonder with these motors if they become so exclusive that they are actually undesirable to thieves.

Maybe you get a discount for having stabilisers too

Very sharp 😆

P20 – Member
Not that bad. Lamborghini Aventador 7000miles, clean license 10yrs no claims…..£1600

Did you just get that from an online quote?

My brother pays more than that to insure his 1.6 Fiesta! I was joking that I could insure an Aston for the same, it now seems I can.

Just been chasing round for insurance on a modified Mercedes that is putting out about 600BHP.

I sort of fit the OP criteria for the owner. I am paying £1200 but first few quotes were £2-3000

Former housemate age 24, 7yrs clean licence and NCD. However, one claim in the system (non-fault, someone ran into the abck of him and wrote off his previous car, still waiting to be resolved) 1994 TVR Chimera worth £8.5k as his only car insured for £1,500.
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Maybe a little less supercar-like but my father (late 60s, loads of NCD, 3 points) got a quote for an early 90s Lotus Elan under £200.

My Girlfriend’s dad had a Ferrari 360 (when that was Ferrari’s current mid-engined model) think it was around £1000 to insure (10+ years no claims, but a few points on his license) which I thought was OK.

Servicing and new rubber costs on the other hand…. 😯

The companies that deal with high end cars and performance vehcles take into account that you are probably going to take better care of a Ferrari than a fiesta. My brother has just insured a fully modified Impreza (I know not a super car) phase 3 tuned, 480bhp. for £340 hes 29, 6 points and 3 claims against him. hats fully comp, with £500 excess.

My 1.6tdci focus costs me £420 fully comp, £200 excess. 7 years no claims. clean license.

The other thing is you may have unlimited milage but even as a premiership footballer that can affored to drive one as an every day car how many miles do they end up doing?

Not super car by a long way but my Mg Midget, to insure at 21 with no NCD and a normal-ish mileage (about 8000/year) was £400, the family focus estate was £1200 (both FC, the focus had some huge excess, the MG the bare minimum).

Really, a 21 year old, what was I more likley to crash, the rear wheel driven ‘sports’ car with quirky handling and brakes, or the boring grey estate?

Probably the Focus as the Midget would only start on 1 of each 10 occasions you tried to use it?