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Most Expensive Car Insurance Claims

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It’s clear to almost anyone that cars like the Aston Martin or Ferrari are different than most other cars we see every day. More so in Singapore, as we do not tend to see these types of cars all too often on the roads. They are what the high-performance car enthusiast world generally calls “exotic car” or “supercar”. In reality, both are two different well-defined categories of their own. Regardless, what they have in common is most surely the number of commas that get inserted in their price tags.

Large or expensive claims on car insurance arise because they mostly involve expensive cars. Everyone is always speculating about how much of a costly affair it is to own and maintain exotic luxury cars. The truth is obviously, such claims are not applicable to everyday cars that most people drive.

Although Budget Direct Insurance does not provide insurance coverage for the supercars, it is fun to have a look at what is happening in that space. So we decided to have a look at the friskiest insurance car claims in the past decade.

Why is Luxury Car Insurance Expensive?

Auto insurance for supercars like an Aston Martin or a Lamborghini may cost a fortune.

Hundreds of horsepower, multi-million dollar price labels, and breath-taking lap times – welcome to the royal dimension of supercars. Their specifications and features that easily outperform most cars. While supercars have the common characteristics of performance, technology, design, and price – they don’t need to have all four characteristics simultaneously to qualify. Lamborghini, Ferrari, Aston Martin and McLaren, are just some of the “more commonly” known brands that manufacture supercars, however some of the most expensive cars are known to a select few.

According to Luxe Digital, as of January 2021, the most expensive supercars as of January 2021 are below:



Price (USD)


Bugatti Chiron Super Sport 300+



Bugatti Divo



Bugatti Centodieci



Pagani Zonda HP Barchetta



Bugatti La Voiture Noire



1963 Ferrari 250 GTO


But car insurance for these luxury cars is not only expensive because of the hefty price tag these cars carry, but also because of the higher cost of parts and accessories replacement expenses and the associated costs of specialised mechanic labour that come with them.

Moreover, these cars are driven at very high, if not, excessive speeds and from a purely statistical perspective, run a bigger chance of getting into accidents. More risk is added as supercars are significantly likely to get stolen too, implying car insurance to cover theft.

Thus, finding insurance for these luxury cars is not an easy ride through tinseltown.

The Top 5 Most Expensive Car Claims

Number 5

Atkinson’s McLaren F1 in 2011, England

Number 5 - Atkinson’s McLaren F1 in 2011, England

Famous actor behind Mr Bean, Rowan Atkinson is a petrolhead indeed and could allegedly hold the largest car insurance claim record ever held. Atkinson hit a patch of water in 2011, causing him to smash up his ultra-rare McLaren F1. Atkinson originally acquired it for $1.17 million SGD, its value having increased to an estimated $6.4 million SGD over the years. His insurance company paid out a record approximate of $1.7 million SGD for repairs. Allegedly only 106 McLaren F1s were manufactured between 1992–1998. It is no wonder that the amount for repairs was so hefty!

Number 4

Christopher Cox’s 1962 Ferrari 250 GTO in 2012 France

Number 4 - Christopher Cox’s 1962 Ferrari 250 GTO in 2012 France

In 2012, while competing in a French vintage road rally with his 1962 Ferrari 250, valued at around $35 million SGD as at May 2012, American Christopher Cox collided with a passenger car. His wife, Ann Cox, was severely injured and the Ferrari bore considerable damage in the front and right side.

Now, the value of another Ferrari 250 GTO built for Stirling Moss was reportedly sold for $35 million in a private transaction.  Cox’s Ferrari might have carried a similar value. Yet, it is impossible to know the amount that Ferrari Classiche charged for repairs and of course how much the at-fault driver's insurance valued. Regardless, as one of the only 36 Ferrari 250 GTOs built, this road accident must have been worth a significant amount of money for insurance to cover.

Number 3

Mercedes-Benz 300SL Gullwing in 2013, Germany

Number 3 - Mercedes-Benz 300SL Gullwing in 2013, Germany

The Mercedes-Benz 300SL Gullwing is a rare vintage car that was manufactured between 1954-1963. Only 26 of them exist and one may only imagine the exclusivity of owning one such vintage car. On a test drive, a mechanic was in charge of finalizing work on the Gullwing. The workshop in question specialized in working on vintage, high-end Mercedes-Benz models and vehicles with starting value of $50-million SGD. Due to excessive speed, the test-driver lost control of the Mercedes-Benz 300SL Gullwing. Repairing the car should have cost an estimated $1 million SGD. Vintage and classic cars may be expensive. Some factors that might influence the cost of insurance for your classic car include your car’s age and kilometres, your claims history and how long you’ve held your licence.

Number 2

Lamborghini Aventador SV in 2016, England

Number 2 - Lamborghini Aventador SV in 2016, England

In 2016, a young owner of a Batmobile-style supercar worth a staggering $475,500 SGD then crashed into two vehicles outside the Dorchester hotel on Park Lane, Mayfair around a certain midnight. It was a Lamborghini Aventador SV travelling at a top speed of 349 km/h. With a crunched bonnet after the collision, the Lamborghini must not only have been expensive to purchase but also costly to insure. According to a research by Value Penguin, the average cost of auto insurance for a 2018 Aventador S Coupe is $7,949 SGD per year in 2021 - more than three times the cost of insurance for a 2018 Honda Civic EX. It is discussed on internet forums that there are 5,000 Lamborghini Aventador in the world.

Number 1

Bugatti Chiron in a Multi-Car Pile Up in 2020, Switzerland

Most Expensive Car Insurance Claims

To date, there have been over 1 million Porsches sold. In comparison, there have been only 250 Chiron in the world. This tells us a lot about why a supercar is a ‘big deal’. Just last year, in Switzerland, an incident involving a three-car line up stole the show with the possible claims we may only fathom. Supposedly, the Bugatti at the back of the three-car line up pulled out to overtake them all. However, a Porsche did so at the same time, and they collided. The Mercedes sandwiched in between also faced damages. The Bugatti Chiron is exclusive with only 250 of them manufactured in the world.  When new, a Bugatti Chiron sells for around $6.6 million SGD, so we may safely assume that most of the $13 million SGD claimed in damages from the collision is going towards repairing the French supercar. As per Value Penguin, the cost of insuring a Bugatti Chiron may cost more than buying two Hyundai’s and insuring them for a year!

Clearly, the purchase and acquisition of a high-end car is more than merely investing in lightning-fast speed and a boastful shiny hood. This may not be a common occurrence in Singapore.

With the little piece of history, exclusivity and auction value they come with, luxurious cars are also about championing the future of an innovative automotive industry. The comprehensive insurance packages they demand is not only rare, but also fiercely protective of the  inventions they are. After all, luxury cars are a pedigree and a living testament of the meticulous manufacturing process that their makers take pride in. Luxury cars are not themselves as awe-inspiring as is the process that goes into making them.








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