According to reports, American investor and millionaire Christopher Cox and his wife were involved in a car accident while driving his 1962 Ferrari GTO. Cox was apparently rear-ended while he was turning, forcing him into a crash that resulted in front end to the vehicle as well.
The amount of the property damage? Well, it that hasn't been disclosed, but the vehicle is worth upward of $30 million dollars. Cox' Ferrari GTO is one of only 38 were built, between 1962 and 1964. The original owners were personally selected by Enzo Ferrari.
Although car collectors can get insurance through special "collector" or "hobby" policies, these policies usually allow the owners to drive the cars to car shows or event rallies and not on daily drives around town. It is unclear whether Cox had insurance for this car accident, but I think he will be alright financially.
Although you may never be involved in a car accident with a $30 million vehicle, it is still very important to get proper automobile insurance in case you or a loved one is injured in a car crash. Make sure that you purchase uninsured or underinsured motorist coverage since a very large percentage of Florida drivers do not carry any bodily injury liability coverage or adequate bodily injury liability coverage to protect you if they cause you injuries.
Drive safely and watch out for those who don't!
Personal Injury Attorney Matthew Noyes represents those injured in automobile accidents, motorcycle crashes, bike accidents and other types of accidents. If you have legal questions, call Attorney Matthew Noyes at 727-796-8282 or simply click here to schedule a free case consultation. Personal Injury Attorney Matthew Noyes has been caring for clients for nearly 20 years. His Clearwater law office - Perenich Caulfield Avril Noyes - is one of the oldest personal injury law firms in Tampa Bay. Benefit from their experience!