When it comes to stars and their cars, it’s always fun and games. With seemingly endless riches and larger than life personalities, the world’s famous faces often have rides as bold as their personas. For example, Jay Leno has upwards of 150 cars. Here, we delve into the insane additional costs that can come with owning such a steed as well as taking a look at some of the figures in question and their pride-and-joy vehicles.
Insurance is wholly different for such expensive toys – or is it?
When you own that many, you’re entering the same realms as a business that needs commercial insurance. Naturally, we don’t know what Leno’s deal is, but he may have been able to negotiate a better price with his insurance company by taking out one policy that covers his entire fleet. Indeed, that’s what any savvy business owner would do. When a company is looking to purchase commercial auto insurance, the best policies cover all eventualities and, of course, all cars named as part of the business. Meeting the cost of repairs is, of course, important. However, commercial companies also need to consider medical expenses for their employees, other motorists and, potentially, any legal expenses that may factor into the overall cost of insuring a fleet of vehicles.
As for Leno – and other car-fanatic celebs – as well as having a lot of cars to insure, he’s a celebrity and, therefore, an easy target for anyone looking to make a false insurance claim. Beyond that, the wisecracking former talk show host also has a whip worth $12 million that absolutely needs to have the best insurance cover possible.
A rare 1994 McLaren F1, the supercar is not only sleek and stylish but capable of reaching speeds in excess of 230 mph. At that speed, even the best drivers in the world will struggle to stay on the road. Fortunately, Leno hasn’t run into trouble in his priceless ride but another celebrity has. In 2011, British actor and comedian Rowan Atkinson crashed his McLaren F1.
Although he emerged from the wreckage with nothing more than a painful shoulder, his beloved car wasn’t in great shape. According to reports at the time, the Brit’s insurance payout and subsequent repair bill was over $1 million! Because of that, his annual insurance premium soared to more than $60,000 a year. That’s a lot, even for a celebrity. However, given that many stars often purchase expensive cars, comprehensive insurance is critical.
Stars and their Luxury Cars
For celebrities, it’s a similar story. Because they’re in the public eye, they can often become the target of insurance scams. Therefore, having a watertight policy is essential. Of course, once all the paperwork is out of the way, it’s time to have some fun and, as you’ll see, it’s not just Mr. Leno who has impressive cars. In closing out this piece, we’ve listed some of the hottest celebrity rides out there:
Jerry Seinfeld – 1955 Porsche 550 Spyder
The super-rich comedian has a car collection that’s almost impressive as Leno’s. However, instead of McLaren’s, the New Yorker is a fan of the Porsche. With more than 40 in his collection over the years, the rare 1955 Porsche 550 Spyder he had was his most impressive.
Lewis Hamilton – Ford Shelby Cobra
As a Formula One icon, it’s hardly surprising Lewis Hamilton has an impressive collection of cars. Among his rides, the Brit has everything from a Pagani Zonda to a McLaren P1. However, perhaps the best cars he owns are the Shelby Cobras. Both originals in red and black, these American classics are virtually priceless.
50 Cent – Rolls Royce
Like all hip-hop stars, 50 Cent has got his car game down to an art form. In fact, that’s how you’ll know it’s him rolling up. Regardless of whether it’s his Lamborghini Murcielago or his Rolls-Royce, the rapper likes to customize his cars in a signature blue. Indeed, when you’re as rich as he is, you can afford to paint even the most expensive cars in any color you like!