Ferrari Australasia on Thursday launched a new insurance offer at an event with clients, coinciding with the opening of the Formula 1 Australian Grand Prix 2024 in Melbourne.  

Ferrari Insurance is the first of its kind globally, the luxury Italian carmaker says, providing vehicle cover that is designed to meet the “distinctive requirements of Ferrari drivers”. Policies are now available for owners of new and existing Ferrari vehicles in the region. 

Coverage of up to $50 million is on offer under a partnership with Melbourne-based Metrix Insurance Brokers, the administrator in Australia which has provided insurance for Ferrari clients for more than 15 years and uses a panel of underwriters. 

Ferrari says the “generic nature” of third party policies do not fully accommodate important aspects of Ferrari ownership, and its offer includes features that no other insurance solution can offer.  

Insurance cover of up to $200,000 for track activity at events hosted by Ferrari Australasia and the Ferrari authorised dealer network is included, giving Ferrari owners “the unique luxury of being able to put their Ferrari through its paces knowing that Ferrari Insurance is along for the ride”.  

“Coverage with Ferrari Insurance is a logical extension of the close relationship Australian Ferrari drivers have with the marque,” it said. 

Annual kilometre usage can be adjusted down to 100 kilometres of road use per year, and bespoke cover is also available for stored vehicles.  

A four-year new-for-old replacement policy, unlimited excess-free windscreen replacements and flexible agreed value cover is also offered.