I was looking through a bunch of Veyron threads and although I know if one can afford a 1.2M car, they likely aren't worried about insurance, I am curious what you all think it would cost to insure a standard Veyron (not a Pur Sang) annually.

I know insurance rates are VERY subjective to driving record, sex, and age among other things, but figure an 40 y/o man with a relatively clean record. Im thinking $40k+ year easily...

 

Call your insurance company and ask for a quote

 

Remember the Top Gear episode when as he was driving one, Jeremy called his agent to ask and they didn't even have it in their system an existing car?

Priceless...

 

I had heard when the first Veyrons were delivered that regular auto insurance companies wouldnt insure them...and that owners were insuring them through companies that primarily insure yachts.

Given the similar values of Veyrons and small pleasure yachts it made sense to me.
No idea on cost though.

Oddly enough i once for a school project had to compare prices at an auto insurance company...and at the time to insure a Mclaren F1 only cost about twice as much as insuring an average sports car like a corvette. Insurance companies dont just work on the value of the vehicle...they also take into account how many of those vehicles exist and there usage...they realize that the chances of a Ferrari F50 getting in an accident are much slimmer than that of say a corvette or a 911...do to there only being a few hundred of them vs. hundreds of thousands or Vettes/911's...plus most F50's are driven very rarely.

 

I heard something very similar from a ferrari owner saying they go by the miles the car will be used mainly if the customer has a clean record.

 

I dont think there is insurance for the Veyron, when I was in Monaco back in 2004 I asked the exotic car dealership with a Enzo and SLR on the floor if they would have insurance to cover them, they said cars above the $400,000 are hard to insure.

 

I remember that episode quite clearly.... "Is it a Rover?"
I was told only hagerty insures the veyron, true?

 

Collectors car insurance...

 

That doesn't make any sense. Following your logic, insuring a chevy cavalier would be crazy expensive as there are tons of them out on the road.

Its not as if insurance companies are insuring the car make as a whole. They are insuring a single vehicle against damage and liability. They don't take into account the number of Veyron's on the road likely to get into an accident when they quote you your rate on your Veyron (or whatever vehicle).

They go by:

1) Cost to repair the vehicle should an accident occur
2) Mileage the car is to be driven (the amount of time open for exposure to damage)
3) Owner's record (how likely they owner is to cause an accident)
4) ETC

 

My insurance company has the Enzo in their "system".

A 40 year-old owner with a clean driving record would be paying $2,800 for full coverage and a reasonable (I think $2,500, maybe $5k) deductible... much cheaper than I could've imagined.

Falken is correct; my broker basically said it has less to do with value and more to do with the assumed responsibility and use of the owner due to the value/rarity.

 

That is cheaper than I would have thought.

That simply doesn't make any sense to me. If its a rare car, it would be both

A) Less likely to be driven
B) More expensive to fix should there be an accident

What "Falken" said is the Corvettes and 911s are more expensive to insure because there are more on the road. My example takes that to absurdity in that, if there are alot of 911s on the road, there are 5x as many Chevy Cavaliers.

Insurance underwriters aren't interested in the pure number of cars on the road (if they were, Cavaliers would be crazy expensive to insure) but more an individual car (its driver, initial cost, cost to repair).

 

My company owns Grundy Classic Car insurance and insures cars worth north of $10mm. I'm sure they're a market.

The rates are incredibly low because the loss history - both pure and combined - is so low for this class of cars. Also, keep in mind that track use is almost always excluded, so that lowers the exposure significantly.

 

let say i hit an Enzo on the street and my insurance only covered up to 200k, would I be responsible over that? or the Enzo's insurance will cover that part?

 

That's a good question. I'm thinking that his insurance would go after you since it's going to cost them a lot more money to fix an Enzo than a regular car.

 

If I hit an enzo, I wouldnt be worrying about how much my car insurance covers, lol, I would worry about how many of my bones the owner would break.