Ferrari F40 supercar, valued at more than £1.5million, is towed away by police because it has no insurance

A £1.5million supercar has been seized by police and towed away after being driven without insurance.

The Ferrari F40 was towed in Lowestoft, Suffolk on March 31, leaving the owner to pay a £150 recovery fee and daily storage costs until he could collect it.

Police shared images of the luxury vehicle, with a top speed of 201mph, being taken away while strapped to a tow truck.

Officials said the driver only recently bought the Ferrari when they were caught illegally driving.

According to the law, the driver will only get back the spotless red vehicle if he has taken out an insurance policy.

But until then, they will be billed for storage every day until the car is picked up.

And they also get slapped with a £150 recovery fee.

The police team posted a series of images on Facebook of the moment the Ferrari was towed away.

They accompanied it with a post that read, “After a few checks, this really expensive car that was recently bought turned out to have no insurance… oh boy, bad times.”

The team added: “The driver was treated with no insurance and the vehicle was impounded… The salvage looked quite panicked when they showed up!!

‘Well done team.’

A Suffolk Police spokesman said: “The vehicle has been removed by a salvage company and the driver can have it back once they show proof an insurance policy has been purchased.

“They also have to pay a £150 recovery fee and daily storage costs until they collect them.”

According to Ferrari’s website, the F40 was first built in 1987 to celebrate the 40th anniversary of the Italian luxury sports car manufacturer’s production.

What makes the vehicle so incredible and coveted is that, according to the company, only 1,311 were made.

For those lucky enough to own one, it has a top speed of 201 mph (324 kph).

The cars regularly sell for in excess of £1million, with some examples fetching in excess of £2million.