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8/9/2012 - Ferrari valued at $30M crashes in France


A rare Ferrari was involved in an accident.

In what could be the most pricey auto insurance claim in history, a $30 million vehicle was recently involved in a crash in central France.

Initially reported by British newspaper the Metro, the owner of the 1962 Ferrari 250 GTO, U.S. businessperson Christopher Cox, was on his way to a gathering celebrating the 50th anniversary of the pricey model in the French town of Le Mans when he collided with another vehicle that was also en route to the event.

The car is only one of 39 ever made of that model. Since the incident, many papers throughout the globe are calling it the "most expensive car crash ever," with some auto experts suggesting that the damage it endured could affect its value.

David Gooding, president of vehicle auction company Gooding and Company, noted that should the car be restored properly, the damage that it sustained should not affect its worth.

Collectible cars generally need specialized insurance plans to cover the cost of damage through an insurance policy.

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