Have you ever happened upon a crash that involves a sports car or supercar like a Lamborghini or Ferrari that has crashed with a regular car? You may have even thought, “That looks expensive.” Unfortunately, it usually is expensive. Is this a reminder to check your insurance coverage? Take it as you will.

What happens if you crash into a supercar?

If you are driving along in your modest car and happen to crash into a Ferrari, your insurance will be necessary. Some drivers have the least amount of coverage possible. This means no collision covered or comprehensive coverage to protect you or other drivers. Depending on your coverage, your insurance might not cover much.

According to CarInsurance.com, liability car insurance covers two things. Bodily injury liability (BI) insurance pays for injuries or deaths you (the policyholder) are responsible for. This includes medical expenses, funeral expenses, loss of income, pain, suffering, and legal defense (should that be necessary).

Policy limits are usually written to demonstrate the maximum payout per person. So if your policy says $25,000/$50,000 (or 25/50), the maximum payout per person is $25,000. The maximum payout for all injured parties is $50,000. Bodily injury coverage does not cover injuries to yourself, only others. You would need personal injury protection (PIP) for that.

Property damage liability (PD) pays up to whatever your policy limit is for damage to other’s property. This could be a Ferrari, a house, a tree, or a pole. Again, this won’t cover your vehicle. Collision or comprehensive coverage is needed. If you happen to crash the Lamborghini yourself, check your insurance.

The reality of a supercar crash is expensive

In most situations, your insurance company will pay for the property damage you have. That means if you hit a $400,000 Lamborghini, your insurance company will pay $50,000 if that’s what your policy offers. After that, the company will most likely drop you. The other car’s insurance company will probably come after you for the rest.

In addition to that, you could be on the hook if the other party is injured. This comes back to the bodily injury part of your insurance. However, these rates are usually too low to help in the case of a severe accident. A “no-fault” law is in place in some states like Florida and Michigan. This means that your personal injury protection can help pay, no matter who is at fault.

This is why it is an excellent reason to increase the limits on your policy. It costs more each month, but should something happen, it would be much more beneficial in the long run. This also depends on where you live. Some drivers in rural areas will probably require different insurance than someone living in Miami.

It isn’t all bad news for drivers.

Those who drive supercars like Ferrari, Bugatti, Lamborghini, or something similar likely have good insurance. There are many instances where these cars cause or get into an accident alone. Flying off a wet road, crashing into another vehicle due to speeding, or just a freak accident happens daily.

Having good insurance is a good idea, regardless of what you drive. Even if you only crash your car, having better insurance can help get you back on the road in better shape. Trucks get bigger every year, small cars get faster, and everything seems more expensive yearly. While that might include your monthly insurance payment, it also might give you peace of mind.