Crazy Insurance Claims: Insuring Your Super and Exotic Cars

Crazy Insurance Claims: Insuring Your Super and Exotic Cars

Car insurance protects you from any financial risk you could incur if you have an accident that results in damage to your car, property, or another person. If you drive a supercar or an exotic car, you will need to add additional coverage to cover the expense associated with more complex and specialized repairs.

World’s Most Expensive Auto Claims

If you own a supercar you may be wondering why you need special insurance. After all, how much more expensive could an accident be? Before we get into the basics of exotic car insurance, let’s take a look at a few of the world’s most expensive auto claims.

  • Viewed in supercar magazines around the world, the Ferrari Enzo is one of the hottest sports cars on the market. With the price tag upwards of 2.15 million AED (585,000 USD), when one was wrecked by its owner in Italy, parts had to be specially ordered and flown in to conduct repairs in Italy. The insurance claim was a whopping 757,343 AED (206,192 USD).
  • You may be the best driver in the world, with the best reflexes, but this will not prevent another drive from cutting you off. When the driver of an ultra-rare SL300 Gullwing was cut off by another driver, he experienced damages estimated to be around 3,673,000 AED (1,000,000 USD). Luckily for him, he had the proper exotic car insurance to cover the damages.
  • In 2007, engineers crashed 2 Bugatti Veyrons while running tests for a prototype. Each of the vehicles was worth over 2.93 million AED (800,000 USD).
  • When a Lamborghini owner allowed his son to borrow his car, he never imagined just how expensive the joy ride would be. As his son rounded a corner, he hit another driver who was driving on the wrong side of the road. Fortunately, the driver wasn’t hurt and he had proper insurance coverage. The Lamborghini’s owner was reimbursed to the tune of approximately 948,000 AED (258,358 USD).
  • Known to the world as Mr. Bean, actor Rowan Atkinson holds the record for the largest car insurance claim in the world. In 2011, Atkinson hit a patch of water in the road and smashed up his ultra-rare McLaren F1. Originally worth 2.85 million AED (776,288 USD) for the supercar, its value had increased to an estimated 57.33 million AED over the years (4.25 million USD)! Ultimately, Atkinson’s car insurance claim resulted in the insurance company paying out a record-breaking approximately 4,161,500 AED (1,133,000 USD).


Why do you need super or exotic car insurance?

Exotic cars and supercars are high-end, expensive vehicles with out-of-the-ordinary features. They are often exclusive, limited edition, and customized with specific features to meet the driver’s needs and personal tastes. Most insurance companies will classify your super or exotic car by its model, make, horsepower, size, weight, and features.

Driving an exotic car is thrilling but it’s also a great financial investment. You need to protect your investment with the right insurance coverage. Exotic and supercar insurance is designed to take into account the special conditions of owning a luxury vehicle.

  • Parts are more difficult to replace. When you own an exotic car, the parts are not typically mass-produced. In the event of an accident or needed repair, the parts will cost more for your insurer to replace than with a typical vehicle.
  • Higher risk of theft. Exotic and supercars are among the most envied and coveted in the world. Unfortunately, this makes them more prone to theft.
  • Greater horsepower means a higher risk of damage. Supercars are designed to drive faster. Traveling at faster speeds can directly impact the amount of damage that can occur in the event of an accident.


Exotic and supercar insurance typically covers:

  • Liability
  • Collision
  • Comprehensive
  • Uninsured/underinsured motorists
  • Bodily injury
  • Property damage
  • Roadside assistance
  • No attendance required (which provides protection when you are away from your vehicle or it is on display)
  • Restoration or spare parts
  • Ability to increase coverage as the value of your car increases over time
  • Auto gap insurance for brand new vehicles


Petra Supercar Insurance

You’ve worked hard to locate and purchase your luxury vehicle. The best way to protect your interests is to invest in comprehensive supercar insurance. As Dubai’s premier exotic car insurers, we’ll not only protect your financial investment, but we’ll also ensure your coverage increases as the value of your car increases over time. 

If you are interested in learning more about what auto insurance policy best suits your needs, contact a member of our team to learn more.

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Crazy Insurance Claims: Insuring Your Super and Exotic Cars
Managing Partner

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