Specialist insurance is a crucial aspect of supercar ownership, but until the launch of Ferrari Insurance in Australia owners have relied upon third-party insurers. Debuted at the Formula 1 Australian Grand Prix 2024, the insurance product is the first of its kind in the world and when we spoke to Ferrari Australasia President Dr. Jan Hendrik Voss regarding the new product, he said it’s all about our region’s passion, knowledge, and enthusiasm for driving (and tracking) vehicles.
“Australia is a very knowledgeable and passionate group of people when it comes to Ferrari, and the idea was born here a few years ago. It will probably also move to other parts of the world eventually. We have a very strong client base per capita, as one of the strongest markets in the world, even if the volumes are smaller,” he said.
“In our discussions with the clients, I felt like Australia was the right place to start, where people participate in tours and track days and challenge series. We are in a good position and a privileged position, to know everybody by name, you know, family members by name, it very much feels like a family and the feedback is always very open. We quickly identified a strong demand here to propose something to the clients. And that’s why we’re launching it here.”
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One of the highlights includes an insurance cover of up to $200,000 for track activity at events hosted by Ferrari Australasia and the Ferrari authorised dealer network along with owners having the ability to fine-tune their annual kilometre usage, right down to as little as 100 kilometres of road use per year for those cars only driven on special occasions. The bespoke cover is also available for stored vehicles waiting to return to the road.
“Our clients are very passionate about driving their Ferraris, and everybody on the roads of Australia and around the world is obviously on their best behaviour. But you also want to put your car into an environment where you can test the limit of it, and do it with confidence,” Dr. Voss added.
Other features include a four-year new-for-old replacement policy, unlimited excess-free windscreen replacements and a flexible agreed value cover including instances where a vehicle’s worth has appreciated above its retail price. Coverage is offered up to an astronomical $50m which would also mean peace of mind for owners of these rare Ferraris.
Ferrari Insurance policies are now available for owners of new and existing Ferrari vehicles in Australia. “You can go to any official Ferrari dealership for more information. They know your background, they know the cars that you own, or what you have on order, or what you want to purchase, and they can have the discussions and best tailor the insurance to you.”
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