Ferrari Australasia has launched Ferrari Insurance, the first product of its kind to be offered anywhere in the world.
Claiming that generic products provided by third-party insurers have limitations, the company said Ferrari Insurance addresses the distinctive needs of owners, such as providing up to $200,000 for track activity at events hosted by Ferrari Australasia and the Ferrari authorised dealer network.
The insurance also offers Ferrari drivers the ability to fine-tune their annual kilometre usage, from precise cover for regularly driven vehicles to as little as 100 kilometres of road use per year for cars driven only on special occasions. Tailored cover is also available for stored vehicles waiting to return to the road.
Other distinctive benefits include a four-year new-for-old replacement policy, unlimited excess-free windscreen replacements, and “highly flexible” agreed value cover recognising the “true market value” of each Ferrari, including instances where a vehicle’s worth has appreciated above its retail price. Acknowledging the significant value of many Ferrari vehicles and collections, Ferrari Insurance said it can provide coverage of up to $50 million.
“Much like a genuine accessory for a new Ferrari, coverage with Ferrari Insurance is a logical extension of the close relationship Australian Ferrari drivers have with the marque,” the company said. “Ferrari Australasia is committed to supporting the dedicated community of Ferrari drivers in this region. With the introduction of Ferrari Insurance, our clients have nothing to stop them bringing their Ferrari vehicles out to enjoy the open road with complete peace of mind.”
Ferrari Insurance policies will be available for owners of new and existing Ferrari vehicles in the region from 25 March 2024.