The enzo's policy would cover above and beyond what your policy did not cover and then they would file a lawsuit against you to recover whatever they laid out.

Companies use millions of statistics to create their rates. The biggest factor in determining rates is how badly people get injured in a specific model of car. Cheaper cars like kia's and dodge neon's cost more to insure then say a bmw 325 or acura tsx because when they crash people get injured much worse and companies have to pay out a lot more in medical bills

 

I knew they would go after you for the rest of the amount.

 

what if i am a homeless....

 

They'll go after your cardbox.

 

Living in Miami I have 400k property damage! I love to beat up on exotics!!

 

An auto insurance company is sort of like a casino...they weigh the odds. You can place a $5 bet in roulet on red or black at 2:1 odds...or you can place a $5 bet on a specific square on the wheel at 100 to 1 odds, the casino doesnt make you pay more money to place a bet at higher odds...they rationalize that odds are your much less likely to win.

So with auto insurance the company realizes many different factors: age, record, class of vehicle, crash out comes per class, theft percentages, vehicle value...all that good stuff. But they also realize that if honda makes 500,000 civics every year (which are driven an average of 15,000 miles/year) and 20,000 of them get in fender benders that on average cost $3000 to fix thats $60,000,000 they must pay out in claims. On the other hand if Ferrari makes only 500 599GTB's per year (driven at an average of 1500 miles/year) and thus lets say only 15 of them get in fender benders that cost $30,000 to fix...well that only cost them $450,000 in claims, even if it was two or three times that, it doesnt cost them much ever year to insure ferrari's. Less of them are stolen, vandelised, crashed, flooded etc than other more populous vehicles.

Thus as long as the driver has a good record insuring exotics doesnt cost that much more just because the are expensive...a little more but not alot (i was serious about it only costing about twice as much to insure a $1.4million dollar Mclaren F1 as a $50,000 corvette. I know someone who has full insurance on a 2001 Lamborghini Diablo VT and it only costs him $2200/year.

 

I remember that when i was looking at quotes to insure my 1993 3000GT sl that I was curious and looked up insurance for a 2005 911TT and the difference for insurance was only about $275. I was shocked and this is a bit like what is going on here.

 

that's pricy

 

Thats the weird thing about insurance in the US. From my point of view at least, is that you can choose ammounts like 200K for third party, where as in Australia my 3rd party covers 5Mil from memory, and there is no option to lower it, you don't chose how much coverage you want for 3rd party, its just set.

 

a really good friend of mine insured his bugatti for $80 K in dubai...
he says "it's worth it"........ hahahahah

 

I am an insurance agent in PA and the Veyron is not in the system and MOST normal carriers wont touch it. You would have to go to a specialty policy (perhaps Hagarty?) or something 'exotic' like a Lloyds of London plan.

Ferrari's are another story - I insure many of these (no Enzo) and they are not as expensive as youd think. I actually have a 430 on a dudes policy that is less than my Cayman S per year (although he is twice my age and has 6 other cars).

So no simple answer as to WHY but a simple answer to the question asked in the begining of this thread might be, "if you have to ask...."

 

Most people with that kindof money are self-insured.

The owner of the company I work with has all his cars listed as self-insured. That includes his two phantoms and an f430.

 

I think it would have a lot to do with how often you are planning on driving the Veyron, doesn't insurance for cars of this caliber depend on miles driven in addition to all the regular driver parameters (age/sex/record/etc). But if one has a Veyron, insurance is surely not a worry.

 

I just insured my 02 c4s and it was cheaper than insuring my 01 Acura CLs!



I remember years ago I looked into an elise when they first came out, the insurance company didn't have it in their system either. They based the insurance rate on the price of the car, average price of insurance on past vehicles from that same manufacturer and my driving record. At the time my payments for insurance would have been higher than the monthly payments for the car...

That was a long time ago, insurance companies may have changed since then.

 

a few years ago i had 6 old corvettes a 56 chev and a 76 turbo aaa insured them. it was peanuts as i remember 3 or 4 a month for all of them , the once questioned my milege on the cars . it was fun when the girl asked what my milage on one of the cars per year, i answered about 6 or 7 she said thousand i replied 6 or 7 miles and that might a little high.... told her i tried to drive then a block or so around the wearhouse.. they never questioned me again... i know have a daughter that is 19 and my insurance is more tha $475.00 per month, go figure