To ensure a Bugatti Chiron Sport “110 Ans” Edition, it will cost you over $50,000 per year.
It’s no surprise that a Bugatti Chiron Sport is costly to insure. The cars themselves are priced at well over $2 million, and insuring anything at that price isn’t going to be cheap. But it’s still really shocking to see just how much is spent on mitigating the eventual (some might say inevitable) time when that Bugatti gets driven into a lake.
We turn to Value Penguin for our deep dive into the world of car insurance. The financial website recently posted an enlightening piece on insuring the recently unveiled 2020 vehicles, and one car in particular stood out.
The Bugatti Chiron Sport “110 Ans” Edition made its public debut at this year’s Geneva Motor Show. It featured a blue carbon fiber exterior as well as side mirrors and a rear wing painted in the colors of the French flag to celebrates 110 years of Bugatti heritage.
Production was said to be limited to just 20 units at $3,260,000 each. The cost of insuring that car: $50,251 per year.
On the surface that sounds like a lot, but it’s actually a really good deal. At $50k per year, that amounts to an insurance rate of just 1.54% of MSRP. Compare that to the 2020 Ford Escape, which starts at around $25,000 and costs $1,051 to insure, and you have a rate of 4.2%. The Hyundai Venue is even worse: MSRP $18,000 and $1,250 per year to insure is a rate of 6.95%.
However, 50 grand is still enough to both purchase and insure two Hyundai Konas. Value Penguin also notes that hypercars like the Chiron don’t have regular car insurance and instead have something called “collector” car insurance. Unlike regular insurance which will pay for the replacement of a vehicle (usually), collector car insurance will only pay for the repair or replacement of a vehicle up to a negotiated value.
Still, if you can already afford a $3.2 million car and the $50k per month it’d take to insure it, you can probably afford another $3.2 million car in case it breaks. Or you could just save the money and buy two Konas.