Jay Leno is one of the most well-known enthusiasts in the automotive world. Being one of the biggest car aficionados on the planet, his collection of new and classic cars rivals just about anyone. Needless to say, his immense collection does indeed cost a fortune. But most people tend to forget that hidden behind the net worth of the collection there are many additional expenses to keep them in running order.
Someone calculated a rough estimate of how much Jay Leno pays to insure such an extravagant collection.
How Much Does Leno Pay For Insurance?
YouTuber Ari Cagan has attempted a rough calculation of the yearly cost of insuring such a massive quantity of vehicles and numbers coming out of it are quite shocking. Using Hagerty as the point of reference, Ari did a bit of number-crunching using the before mentioned 181 cars and 160 motorcycles. Not only taking the base insurance cost but also taking into consideration the property insurance and the cost of getting the collection insured under a film and production policy.
The end result for each individual vehicle comes down to $45,250 per month for the cars and $12,000 for the motorcycles. Keep in mind that the numbers used are the base insurance cost, most of the vehicles under Leno's ownership most likely cost more to insure than that. Factoring in the cost of the umbrella coverage for the property and the vehicles' registration fees of $420,000 and $10,571 yearly, respectively. The grand total to keep Leno's massive fleet running comes to roughly $1,117,571 per year.
Long story short, keeping such an enormous amount vehicles in running order at all times doesn't come cheap. This rough calculation is also done using the base cost of insurance and hasn't factored in the cost of maintenance and detailing. This information gives us an interesting behind-the-scenes view of the downside of owning such a big collection.
Jay Leno's Colossal Collection
Over the years, he has acquired more than a few vehicles. Unfortunately, there isn't an exact list available, but according to duPont Registry as of April 2021, Leno's Garage is home to roughly 341 vehicles, split between 181 cars and 160 motorcycles. But like any collector worth his salt, Jay Leno's garage is ever-growing.
This assortment of vehicles includes typical supercars, timeless classics, impressive manufacturer one-offs, and even some of his own making. Taking into consideration the value and rarity of the automobiles that are currently in his ownership, most are estimating the current value of his collection to be over $50 million on the lower end, even possibly reaching $150 million.
Taking this into consideration, we can already assume that the yearly insurance cost will not be a modest amount.