Above $150,000, it’s a specialist’s car.
The mainstream insurers on our panel stop quoting online at $150,000. Above that, the prestige specialist on our panel is the one that quotes, and it’s asked from $100,000, so a car near the line sees both.
Three things drive the price: the agreed value, how often the car is driven, and where it’s kept overnight. The specialist prices use in bands, from daily down to twice a month, and names “high performance or exotic Vehicles” in the lower ones.
Agreed value, and which way GST falls.
A limited-run car has few comparable sales, so market value becomes a negotiation after a loss. Agreed value fixes the payout before it. The prestige wording may ask for a recent receipt, photographs and a list of modifications with their values when you apply.
Check how your wording counts GST. The prestige wording says sums insured “are inclusive of GST”; one mainstream wording counts it the other way. On a $400,000 car that’s $40,000. Agreed value, explained.
The supercar-sized benefits.
| Benefit | Prestige wording we read |
|---|---|
| Locks and keys | Up to $5,000 a year, no excess |
| Paint protection film, ceramic coating | Up to $10,000 |
| Air-freighting parts | Up to $5,000 |
| Choice of repairer | Included |
| On a transporter in Australia | Covered by road, rail, sea and air |
| A replacement car you buy | 14 days’ cover, up to $300,000 |
| Hire car | $250 a day, $5,000 total, daily-use bands only |
The garage, the track and private roads.
Where it sleeps. The prestige wording can refuse an overnight claim if the car wasn’t parked in the kind of place you declared, between 10pm and 5am and within 500 metres of home. Street parking needs the schedule endorsed.
The track. All three wordings we read exclude racing, time trials, speed testing and hill climbs. The prestige wording’s definition of a race car also takes in parade laps and closed-course driving.
Private roads. The prestige wording excludes driving on any road that isn’t government-gazetted, which is worth knowing before a drive day on private land.
Rego, agreed value, where it sleeps.
We find the model from the rego. You choose agreed value, tell us how often it’s driven and where it’s kept, and declare any modifications. Some exotics go to the specialist’s underwriters before a price comes back, and a broker follows that up. See also Porsche insurance, classic car insurance and luxury car insurance.
Supercar insurance FAQs
How much does supercar insurance cost in Australia?
It depends on the car’s value, where it’s kept, how often it’s driven and who drives it, and we haven’t published a supercar quote yet. For a sense of scale, a 2022 Porsche 911 Targa 4 at a $250,000 agreed value, garaged and used privately, was priced at $3,663.33 a year including GST and stamp duty in a test quote through our form.
Which insurers cover Ferraris and Lamborghinis?
On our panel, the mainstream insurers quote online up to $150,000. Above that, the prestige specialist is the one that quotes. Some cars go to its underwriters before a price is given, and a broker follows those up.
What excess applies to a supercar?
On a prestige car the insurer commonly sets the basic excess by the car, and it can be higher than the one you asked for. In our 911 test quote, the specialist set it at $2,500 against the $1,000 requested.
Is my supercar covered on a track day?
Not under the wordings we read. All three exclude racing, time trials, speed testing and hill climbs. The prestige wording also excludes driving on roads that aren’t government-gazetted, and its definition of a race car includes parade laps.
Do I have to keep a supercar in a garage?
Under the prestige wording, a theft or damage claim overnight can be refused if the car wasn’t parked where you declared, between 10pm and 5am near home. Declare where it actually sleeps, and street parking needs the schedule endorsed.
Are grey imports covered?
None of the three wordings we read mentions grey or parallel imports. Tell a broker how the car came into the country, and the insurer will say whether it takes it.
Is Luxury Cover connected to Ferrari, Lamborghini or McLaren?
No. Those names are trademarks of their owners, used here only to describe the cars we arrange insurance for. We’re an independent broker.
Is this personal advice?
No. It’s general information about insuring supercars, and it doesn’t consider your objectives, financial situation or needs. Read the PDS before you decide.
Reviewed by Andre Lang on 20 October 2026.
Andre Lang is an Authorised Representative (AR No. 1323803) of Australian Broker Network Pty Ltd (AFSL 253131), and a director of Lang Broking Co Pty Ltd (Corporate Authorised Representative No. 1323797), which trades as Luxury Cover.
Luxury Cover arranges insurance as a broker and isn’t affiliated with Ferrari, Lamborghini, McLaren or any other manufacturer. The policies are issued by the insurers, and what they cover depends on the policy you choose. Each quote links to its product disclosure statement. General information only.