With its sleek European design, the little red Ferrari "screams opulence and exclusivity," the sales blurb says. "Its extraordinary looks are the first thing that hit you." Perfect midlife-crisis vehicle? Nope, this dreamy supercar is for preschoolers. The $450 Feber Ferrari California 12-volt ride-on car features realistic alloy-like wheels, a sporty steering wheel, wing mirrors and deep-injected paint so scratches can be buffed away. Made in Italy under license from Ferrari and designed in conjunction with the automaker's engineers, the car can go from 0 to 5 mph in mere seconds. With wheels like these, it might seem like your child needs full auto insurance coverage. Combine kids with anything that moves, after all, and accidents are bound to happen. But auto insurance companies haven't discovered this emerging market. The insurance burden still falls to the parents. Battery-powered ride-on cars have been around for decades, from pink Barbie Jeeps to flashy red fire engines. More than 25 million of the Fisher Price Power Wheels -- among the best-known brands -- have hit the road since they were rolled out in 1971. Today's kiddie cars are fancier than ever. The Power Wheels Cadillac Escalade, for instance, features a real FM radio, sound-boosting rear speakers, chrome wheels and grill and a power-lock brake system so the vehicle stops whenever the gas pedal isn't pushed. If your kid has a lead foot, you can set the high-speed lockout so the top speed is 2.5 mph, versus the daring 5 mph. Even the basic plastic orange Cozy Coupe, when combined with some strong little legs, can cause dents and injuries. Here's how insurance can help parents financially recover from toy-car crashes.
Your child crashes a toy car in the driveway and dents your car.
You could file a claim under the collision portion of your auto policy to repair your car, says Loretta Worters, vice president of the Insurance Information Institute.