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Ferrari GT Racing Car Insurance

Know how to buy/renew Ferrari GT Racing Car Insurance

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Home / Car Insurance / Ferrari Car Insurance / Ferrari GT Racing Car Insurance

You've finally invested in the automotive masterpiece that is the Ferrari GT Racing. Now, it's time to protect your prized possession with a comprehensive car insurance policy. As exciting as it is to drive this beast on the roads, you need to ensure you have protection in the form of insurance.

Let's learn all about buying the ideal car insurance for your Ferrari GT Racing.

Why should you buy car insurance for Ferrari GT Racing?
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Driving your Ferrari GT Racing without valid car insurance is against the law. To legally drive this marvel on Indian roads, you must have adequate car insurance.

Financial Security
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Car insurance protects you from massive financial losses in case your Ferrari GT Racing is damaged in an accident or other unforeseen events.

Theft Protection
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Unfortunately, car theft is a harsh reality. Car insurance will ensure you receive compensation if your Ferrari GT Racing is stolen.

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According to the Motor Vehicles Act of 1988, third-party insurance is compulsory. It covers injuries or damages caused to a third party due to an accident involving your Ferrari GT Racing.

The most common types of car insurance for Ferrari GT Racing
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Third-Party Insurance
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This basic insurance covers liabilities arising due to damage or loss to a third party. It does not cover damage to your own Ferrari GT Racing.


Comprehensive Insurance
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This extensive coverage includes third-party liability along with protection for your own Ferrari GT Racing against damages due to accidents, theft, riots, fire, natural disasters, etc.

What is Covered

What is not covered

What is covered in Ferrari GT Racing car insurance? (Inclusions)
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A comprehensive car insurance policy for your Ferrari GT Racing typically includes:

  1. Third-party liability covers legal costs and payouts if you cause damage or injury to another person/property in an accident. This includes both property damage and bodily injury liability.

  2. Protection against theft covers the cost of replacing your Ferrari if it is stolen. This includes the car's value and any aftermarket parts or modifications.

  3. Coverage for man-made disasters protects against damages from events like riots, strikes, civil commotion, malicious acts, and terrorism. This covers repairs or replacement costs.

  4. Natural disaster coverage pays for repairs or replacement if your Ferrari is damaged by floods, storms, earthquakes, hurricanes, landslides, etc.

  5. Protection from fire covers damage from fire, explosion, self-ignition or lightning strikes to your Ferrari. This includes total loss replacement if the car is burnt beyond repair.

  6. Coverage for transit damage protects against losses while the Ferrari is being transported by road, rail, air or elevator. This covers incidents like collisions, overturning, etc., during transit.

What is not covered by Ferrari GT Racing car insurance? (Exclusions)
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There are certain exclusions in comprehensive car insurance policies for your Ferrari GT Racing:

  1. Regular wear and tear of parts.

  2. Mechanical or electrical breakdown.

  3. Damage caused when driving without a valid license.

  4. Losses outside the geographical limitations of the policy.

  5. Damage caused when under the influence of drugs or alcohol.

  6. Losses arising from illegal activities.

Add-ons for Ferrari GT Racing car insurance
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You can enhance your Ferrari GT Racing's insurance coverage by opting for useful add-ons like:

Benefits of buying car insurance for your Ferrari GT Racing
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Purchasing comprehensive car insurance for your Ferrari GT Racing comes with numerous advantages:

  1. No Hidden Charges: Top insurers have a completely transparent pricing policy. You pay only the premium amount without any hidden costs or commissions. This saves you money.

  2. Digital Process: The entire process from purchase to claims is digital. You can buy, renew or raise a claim anytime, anywhere via the website or mobile app. No paperwork is required.

  3. 24/7 Accessibility: You can access your Ferrari GT Racing's insurance policy, raise claims or reach out for assistance 24/7 through your insurer’s online portal and mobile app. Highly convenient.

  4. Prompt Claims Settlement: Top insurers have an efficient claim processing system. Minor damage claims are approved instantly. For major damages, experienced surveyors assess the damage and ensure swift settlement.

  5. Cashless Garage Network: Take your Ferrari GT Racing to any of the insurer’s wide network of garages across India for cashless repair/servicing. Saves you effort and money.

  6. Roadside Assistance: Breakdown support for your Ferrari GT Racing is just a call away. Major insurers provide assistance through vehicle towing, minor repairs, fuel delivery, etc.

  7. Expert Assistance: Dedicated customer support teams are available 24/7 to guide you on the ideal insurance plan for your Ferrari GT Racing, policy upgrades, add-ons, claims, etc. Take the guesswork out of insurance.

How to Buy/Renew Ferrari GT Racing Insurance
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Follow these simple steps to buy or renew Ferrari GT Racing insurance:

  1. Visit your insurer’s website or download the app.

  2. Enter your Ferrari's registration number and click on "Check Prices".

  3. Fill in policy details, select the plan and add-ons, and make payment to instantly purchase/renew.

4 easy steps to raise a claim
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Here is how you can easily raise a claim:

  1. Login to your account on a website or app.

  2. Tap on 'Raise Claim' and provide the necessary info.

  3. Upload documents required for verification.

  4. For minor damage claims, approval is instant. For major damage, your insurance company’s representatives will contact you.

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Getting comprehensive coverage for your prized Ferrari GT Racing is crucial. Choose a top insurer for a seamless online insurance buying/renewal experience. Stay rest assured that your Ferrari GT Racing is protected even as you enjoy driving it on full throttle!

Frequently Asked Questions on Ferrari GT Racing Car Insurance
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Does the Ferrari GT Racing insurance cover regular servicing and maintenance?

No, regular servicing, like oil changes, tune-ups, wheel alignment, etc., are not covered under a car insurance policy. These are maintenance expenses that the owner has to bear.

Will there be a change in the Ferrari GT Racing insurance premium when I modify the car?

Yes, informing the insurer about any modifications, like engine tuning, body kit additions, etc., is important. It will impact the Insured Declared Value (IDV), which will increase the premium.

Does the Ferrari GT Racing policy cover damage caused during motorsports events?

No, any damage occurring during racing, rallies, or other motorsport events will not be covered by a standard car insurance policy.

Will there be a discount on the Ferrari GT Racing insurance premium if I install an anti-theft device?

Yes, installing ARAI-approved anti-theft devices can make you eligible for a discounted premium on your Ferrari GT Racing insurance.

How soon should I renew an expired Ferrari GT Racing insurance policy?

An expired should be renewed immediately to maintain policy continuity benefits. However, no coverage is provided during the lapsed period.