Insuring high price vehicles....Bugatti.

[Mr CLuTcH]

I'm just wondering,....how much would it cost to insure a Bugatti Veyron, or...Aston Martin? I mean, if you goto any auto insurance website they don't even list some of these makes. Yes it's a rare occurrence that people need these rare vehicles insured, cause not many people have them but if you had one about how much would insurance run if you have a totally clean driving record and just made 25?

[nUcLeArEnVoY]

Probably less than normal commuter cars, because it's not standard practice to get normal auto insurance with a car like that. You'd need to get a specialty car insurance that has very similar limitations as collector car insurance such as how often you're allowed to drive it, what shops you take it to for repairs, etc., etc.

[cab2g]

I'd bet collision would be through the roof for a Bugatti no matter what. That car is worth over $1.6 million. Replacement parts probably cost hundreds of thousands....

[ssump29]

I can tell you this from experience with my father owning a Aston Martin(2004 Vanquish S). A simple oil change on the car cost 750-800 bucks. I have nevered asked him how much insurance is on the car never thought about it anyway. But he only drives his about 2 months out of the year. Car still doesn't even have 20,000 miles on it.

[Rogue Leader]

Originally Posted by nUcLeArEnVoY

Probably less than normal commuter cars, because it's not standard practice to get normal auto insurance with a car like that. You'd need to get a specialty car insurance that has very similar limitations as collector car insurance such as how often you're allowed to drive it, what shops you take it to for repairs, etc., etc.

Thats actually not true, I used to work for one of the big name insurance companies and had worked on rating High end cars. Basically any high end car like that had to be manually rated as the underwriting system doesn't take into account the cost to repair a car that expensive. So we would rate the car based upon the normal underwriting standards that the computer system uses but we had to do it by hand as the computer wasn't set up to handle vehicles that have a repair cost 5-10x higher than any other car. It was a reeeeeally tedious process. The insurance premiums were significantly more than your average car because something as stupid as hitting a pothole could cost $10 grand or more. Around the time that I left this guy I worked with had started to automate the process a bit but it was still a stretch.

In the end though it was the same coverage you could get on your Camry or Tahoe, you could daily drive it or whatever.

And people do wreck them, we managed to have TWO brand new Murcielagos totaled within 1 month of eachother. :(

[2000v6]

Originally Posted by Rogue Leader

And people do wreck them, we managed to have TWO brand new Murcielagos totaled within 1 month of eachother. :(

Were they wrecked by the same person?

[nova]

Well, honestly, if you've got the money to buy a car like that, you've probably got the money to just "self insure" for everything other than liability. Liability shouldn't be too much different no matter what the car is...

[Stingr69]

You call your insurance broker and tell him to "turn it on" before every drive. It's a "by the hour" rate.

-Mark.

[Brokinarrow]

Originally Posted by 2000v6

Were they wrecked by the same person?

good question!

[Kyle2k]

Originally Posted by ssump29

I can tell you this from experience with my father owning a Aston Martin(2004 Vanquish S). A simple oil change on the car cost 750-800 bucks. I have nevered asked him how much insurance is on the car never thought about it anyway. But he only drives his about 2 months out of the year. Car still doesn't even have 20,000 miles on it.

That must be the shop then, because I have heard that Aston Martin repair/maintenance is some of the lowest when it comes to exotics.

[jcamaro]

My quote from allstate on a 2008 Aston Martin DB9 was $681 per month to insure me and my wife, both of us under 25. I was expecting more. Thats with 25/50 body/uninsured and 200,000 liability. If we could afford the payments on a $200,000 car, I think we could afford this insurance payment. As a comparrison, I currently pay about $133 per month for my Hyundai

[Sir Nuke]

Bottom line......if you could afford one of those cars.......insurance would not be an issue, and you probably would be looking of a agent or insurance company online.

[ssump29]

Originally Posted by Kyle2k

That must be the shop then, because I have heard that Aston Martin repair/maintenance is some of the lowest when it comes to exotics.

Yes only the dealership shop work on his car. And on other models its not that high, but I he was told its because the V12 in his car is a compex engine and blah blah blah whatever they tell you to justify the price. He just pays it, more money then he knows to do with.

[Rogue Leader]

Originally Posted by 2000v6

Were they wrecked by the same person?

Originally Posted by Brokinarrow

good question!

Haha nope they were not.

I believe there are some companies that specialize in this type of risk that are probably cheaper than your mainstream insurance companies. However they have very specific and strict underwriting restrictions compared to other companies, and they are only available in certain states that allow them to do that.