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Insurer Wants FBI to Pay $750,000 for Crashed Ferrari

Agents may have wrecked F50 on a joyride.

by on Feb.25, 2011

A Ferrari F50, like this one, was wrecked while impounded by the FBI.

You break it, you bought it.

That’s what Motors Insurance Corp. is telling the FBI after learning that an agent apparently wrecked a Ferrari F50 that was supposed to have been stored in a government impound lot.

The story starts out in September 2003, when the $750,000 supercar was stolen from a dealership in Rosemont, PA.  The insurance company paid off on the loss while police went looking for the car.  While it might seem difficult to hide such an exclusive automobile, the Ferrari F50 wasn’t recovered until August 2008, when authorities discovered it in Kentucky.

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Oddly, the story gets even more murky once the supercar landed in police hands.

The F50 was supposed to remain in a secure storage lot while authorities prosecuted the thief.  But it appears that at some point, it was taken out for a ride and had a close encounter with a tree.  Learning that the car was wrecked, Motors Insurance sent the FBI a $750,000 bill, which the feds have repeatedly rejected.