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The average annual insurance premium for a Ferrari 488 is $10,416 or $868 per month. Depending on your driving history, how many miles you drive annually, and other factors, your actual cost may be more or lower.
The typical insurance cost for a 488 Spider is $868 per month or $10,416 annually. The price is almost $9,000 above the $1,426 annual average cost in the country. Contrast that with the average insurance premium for the GTB, which is a bit cheaper at $783 per month or $9,396 annually. The cost is still around $8,000 more than the yearly national average.
We gathered quotes from insurance firms using this profile to get our anticipated cost:
- Pennsylvania driver, 30 years old
- operating a 2018 model
- drives between 10,000 and 15,000 miles per year.
- No mishaps in the previous five years.
- Vehicle anti-theft device
- decent credit
- single-family residence
In This Article...
How much is insurance for a Ferrari?
The annual cost of Ferrari automobile insurance is about $3,456. This implies that the monthly insurance premium for your Ferrari will be at least $288. In actuality, there is no affordable Ferrari insurance. Fortunately, shopping around for insurance can enable you to save money.
Numerous national insurance companies will not even insure Ferraris because of their excessive cost. Finding an organization that specializes in exotic automobile insurance is necessary in order to obtain a Ferrari insurance quote. Not all businesses offer Ferrari auto insurance.
Are you curious about the cost of Ferrari 488 insurance? Prices vary from $204 to $373 per month.
What You Should Know About the Costs of Ferrari Insurance
Your monthly insurance costs will be most affected by the average price of the Ferrari; the more expensive your Ferrari, the more you will have to pay in insurance. Ferrari insurance typically costs $450 a month or $5,400 a year.
Additionally, the model of your car and where you live will affect your auto insurance. For instance, the average monthly insurance cost for a Ferrari 488 is $458, but the rate for a GTB Spyder is higher at $529.
Although the cost of Ferrari vehicle insurance is high, you can keep your monthly premiums cheap by comparing quotes from several insurers for the best protection. Most insurance providers give discounts to motorists who don’t have any accidents and commit few or no traffic infractions. You can also lower your premiums by cutting back on your mileage.
Editorial Policies: Anyone looking to learn more about auto insurance can use our free online resource. Our mission is to serve as a neutral, third-party resource for all things including auto insurance. We continuously update our website, and all content is examined by specialists in auto insurance.
The Typical Ferrari Car Insurance Cost
Your insurer utilizes risk to determine premiums when you get auto insurance. Your insurance company has committed to paying for the cost of mending or replacing your Ferrari. Your insurance accepts that risk in exchange for a fee from you.
The typical Ferrari is valued roughly $200,000, while some versions are considerably more expensive. Due to insurers’ acceptance of this value, Ferrari car insurance is pricey.
However, depending on your make and model, Ferrari insurance rates change. According to our model driver profiles, the following are some examples of typical Ferrari automobile insurance premiums:
- 360: $4,671 annually
- in California, $8,967 annually
- 480 GTB: $10,001 annually
- $10,616 annually for a 488 spider
- F12 TDF and Berlinetta: $11,784 annually
- GTC4 Lusso annual cost: $11,791
- FF: $12,412 annually
- 812 Superfast costs $14,791 annually.
- Portofino yearly cost: $13,091
Insurance for sports cars
Sports car insurance policies often contain comprehensive and collision coverage (sometimes known as “full coverage”), with limits that are likely to be significantly higher given the value of your automobile. If the insurance company agrees to cover your Ferrari, your insurance payments will most certainly be significantly higher than those for a more affordable sports car (such a Chevrolet Corvette) due to the cost disparity.
For instance, a full coverage insurance policy for a 2019 Chevrolet Corvette with an MSRP of $56,590 costs, on average, $2,220 annually. A 2019 Ferrari 488 Spider, in contrast, costs roughly $280,900 and features a significantly more potent engine (496hp vs. 660hp, respectively). In comparison to a typical sports car, the cost of insurance would be significantly impacted by the value of the vehicle, repair expenses, and hazards related to the engine capabilities.
How much does Ferrari California insurance cost?
The Ferrari California was intended to last, and owners swear to its dependability even though insurance is very pricey. Additionally, you’ll get a thorough maintenance schedule to keep this high-end convertible on the road for longer. To get a quotation, sort vehicle insurance providers by your state.
The average annual insurance premium for a Ferrari California is $7,776 or $648 per month. This car costs a staggering $6,350 more to insure than the national average, which is $1,426 each year.
Do Ferraris cost a lot to insure?
The average annual cost of insurance for a Ferrari is $5,377, which is more than 2.5 times the cost of auto insurance in the United States.
Ferrari owners may be better suited purchasing a policy from a high-end insurance specialist since these plans are more likely to provide coverage and are frequently less expensive than those offered by a normal insurance provider.
It can be difficult to obtain any Ferrari insurance at all because not all major insurers offer protection. Specialty insurers occasionally charge Ferrari drivers 41% less than normal carriers for coverage, which could result in insurance savings for drivers.
How much does a McLaren’s insurance cost?
According to Carsurer, the typical annual insurance premium for a McLaren supercar is $2,052 for adults, $3,405 for teenagers, and $1,702 for seniors.
How much does a Ferrari cost?
For many of these cars, the retail pricing of a Ferrari are more of a starting point than an end point, although the starting prices of some of Ferrari’s most recent models are as follows: Ferrari 812 Superfast Retail Price: $335,000. Retail cost for the Ferrari 812 GTS is $404,494. Retail Price for the Ferrari F8 Tributo: $270,530
How much does Porsche 911 insurance cost?
The smallest Porsche SUV, the Macan, is the least expensive to insure; a full-coverage policy typically costs $190 per month. On the other hand, insurance for Porsche 911 sports cars is the most expensive. The average monthly insurance premium for a 911 Carrera is $323, while that of a 911 Turbo S is $373.
Porsche models with lower MSRPs and faster 0-60 times typically have reduced insurance costs. There are two exceptions, though: the Panamera and Taycan Turbo.
Porsche’s electric sports car, the Taycan Turbo, accounts for its rapid 0-60 time. Due to their expensive equipment, which can be expensive to fix, electric automobiles typically cost more to insure. The Taycan Turbo, in contrast, offers more cheap insurance rates than the Panamera and 911 variants.
How much does a Bugatti’s insurance cost?
Most people who purchase a Bugatti Chiron Sport “110 Ans” have more than enough cash to cover the cost of the hypercar’s insurance. They might not have known, though, that it would cost $50,000 year. Yes, the insurance on the limited-edition Chiron Sport costs that much. ValuePenguin estimates the car’s annual insurance cost to be $50,000.
Fair enough, the Bugatti Chiron Sport “110 Ans” is a pricey automobile. Although some sellers are charging considerably more than that, the MSRP is almost $3.2 million. According to Carscoops, a build slot costs $4.5 million at one dealer in Munich, Germany.
You presumably aren’t too concerned about the $50,000 in insurance premiums each year if you’re spending that much on a new Bugatti. However, $50,000 a year sounds utterly absurd if you’re not used to spending millions of dollars on an automobile.
A 30-year-old male residing in New York City who wants full coverage on the car was used to determine the insurance. It seems to reason that, depending on the person’s location and information, the $50,000 yearly cost might be waived. Considering that, it’s unlikely to significantly reduce the cost. I hope you’ll be able to pay your insurance if you have your heart set on the new Bugatti.
Which Ferrari is the cheapest?
The brand of supercars that is perhaps best known worldwide is Ferrari. This Italian carmaker has gained notoriety for its outstanding performance and domination in motorsports. In order to make their sports vehicles even more thrilling, Ferrari has started using turbocharging and electricity.
The Portofino is the least costly Ferrari currently on the market, yet no Ferrari can be classified as entry-level. The base price of this classy roadster is around $215,000 before options, and like any Ferrari, extras are available in abundance.
Most Expensive: The SF90 Stradale is a display of Ferrari’s performance prowess. Its hybridized twin-turbo V-8 produces close to 1,000 horsepower. The SF90 is considerably over $1 million in price, but you can’t just go into a dealer’s lot and purchase one. To add an SF90 to your collection of Prancing Horses, you must receive a personal invitation from Ferrari.
The most entertaining Ferrari to drive is impossible to choose, just as the preferred pizza variety. Nevertheless, we were in awe of the 812 Superfast. We won’t soon forget the 812 “Stoopidfast’s” V-12 song since emissions regulations cast doubt on the future of 12-cylinder engines.
As soon as a car is released, we want to test and rank as many of them as we can. We’ll rank new models as we periodically update our rankings and we might even change the scores for some models. Vehicles with insufficient testing data, however, are not scored.
The Ferrari 488 is dependable.
Safety and dependability Ferrari has earned a reputation for building dependable automobiles, and with routine maintenance, the 488 GTB should function without any significant issues.
How much does a Lamborghini’s insurance cost?
The secondary flagship of Lamborghini is the Huracan, a car that is smaller and less potent than the Aventador. The Huracan is still one of the fastest vehicles on the road, so don’t think that makes it a poor vehicle or justifies its high insurance rates.
Driving a Huracan carries the risk that the vehicle’s high power to weight ratio will tempt the driver to drive more recklessly. Although it won’t be as affordable as a standard car, you can anticipate to pay less for insurance because the car is a touch less expensive than the Aventador.
A Lamborghini Huracan will typically cost $440 per month in insurance. For this specific car, the annual cost of Lamborghini auto insurance is roughly $5,000. This vehicle costs roughly $200,000, however the cost of insurance will vary depending on the extras you choose.