How Much Is Ferrari Insurance by Model?
Discover how much you can expect to pay to insure your Ferrari.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Ferrari is an Italian luxury sports car brand. The company began producing cars in 1947, eventually producing supercars, grand tourers, and an SUV. Some early Ferraris are among the most expensive cars ever sold at auction, while a current model can range in price from $230,000 to $540,000, depending on the model and its unique configuration.
Whether you’ve invested in a new Ferrari or a classic, you’ll need the best car insurance you can find to protect your investment.
Our guide to Ferrari insurance provides cost information for a selection of Ferrari models, and some information on how to get Ferrari insurance, which can be hard to find. In most cases, you’ll need to get coverage from an insurance company that specializes in coverage for high-end or collector cars.
With the help of a local independent insurance agent, you can get quotes for Ferrari insurance.
In this article:
How Much Does a Ferrari Cost to Insure by Model?
Are Ferraris Expensive to Insure?
What is Collector Car Insurance for Ferraris?
Why Do Insurance Costs Differ Between Ferrari Models?
What Other Factors Affect Ferrari Insurance Costs?
Where to Get Ferrari Insurance
How Can an Independent Insurance Agent Help You Get Ferrari Insurance?
How Much Does a Ferrari Cost to Insure by Model?
The cost to insure a Ferrari can vary depending on the model and its unique features. But you’ll find that no matter what model or model year Ferrari you drive, your insurance costs will be quite high. What’s more, you’ll likely need to look to a specialty insurer to cover your Ferrari. Most standard insurers don’t cover Ferraris, and if they do, the premiums may be higher than you’ll find with a specialty insurance company.
Our research found that the average cost to insure a Ferrari is $5,377 per year. Keep in mind that the national average for car insurance is $1,311 per year.
We’ve looked into the cost to insure a variety of Ferrari models and model years and found the following.
| Ferrari Model | Average Cost of Car Insurance Per Year |
|---|---|
| 2021 Ferrari Roma Coupe Turbo | $6,700 |
| 2019 Ferrari Portofino Convertible | $5,023 |
| 2018 Ferrari 812 Superfast Coupe | $6,580 |
| 2018 Ferrari 488 GTB Coupe | $5,003 |
| 2018 Ferrari 488 GTB Spider Convertible | $6,536 |
| 2017 Ferrari GTC4Lusso Coupe | $5,884 |
| 2015 Ferrari 458 Italia Coupe | $5,004 |
| 2015 Ferrari 458 Spider Convertible | $5,186 |
| 2009 Ferrari F430 Convertible | $3,116 |
| 2004 Ferrari 360 Coupe | $3,430 |
An independent insurance agent near you can help you find Ferrari insurance for whatever model you invest in.
Are Ferraris Expensive to Insure?
Ferraris are very expensive to insure. Here are some reasons why:
- Vehicle value: Ferraris are not cheap to purchase, ranging in price from $230,000 to $540,000 for a new model to over $1,000,000 for certain rare collector cars. The high value of Ferraris is reflected in high insurance costs. If your Ferrari were damaged or totaled, your insurance company expects to make a significant payout.
- Repair costs: Ferraris are expensive to manufacture and repair, with specialized, costly parts often having to be shipped from overseas. Any vehicle with expensive parts will cost more to insure.
Besides the costs related to replacing or fixing a Ferrari, the personal characteristics of the Ferrari owner also play a role in Ferrari insurance costs. Your driving record, past claim history, age, gender, marital status, annual mileage, and other aspects of your driver profile can all contribute to higher (or lower) insurance costs, depending on how much risk you are perceived to have.
What Is Collector Car Insurance for Ferraris?
Most Ferrari owners should consider a car insurance company specializing in exotic, collector, or antique cars. While your exact needs will depend on the model and age of your Ferrari, a specialty insurer will usually be able to properly insure it. Plus, specialty or collector car companies often offer better rates for these types of cars than most standard insurance companies.
Some other benefits of using a specialty or collector insurance company for your Ferrari include:
- Agreed value coverage: Standard insurance companies determine the maximum amount they will pay on a vehicle based on its purchase price and depreciation. But Ferraris don’t depreciate like other cars, and in some cases, their value actually increases over time. An agreed value policy pays out an amount that both you and your insurance company agree that the car is worth.
- Specialized coverage: Collector insurance companies may be able to offer special coverages that are only applicable to high-end cars, such as coverage for when your car is on display at a car show or protection for special parts.
You may have a hard time finding Ferrari insurance from most standard insurance companies. An independent insurance agent has access to a wide variety of insurance companies. A local agent can help you find the right insurance company to protect your Ferrari.
Why Do Insurance Costs Differ Between Ferrari Models?
Car insurance costs differ by model depending on several factors. The age and value of the vehicle have a huge impact on insurance costs. You can assume that, in general, a newer Ferrari will cost more to insure than an older one. But if you’ve got a rare, classic Ferrari, insuring it could cost more than insuring a brand-new model.
What Other Factors Affect Ferrari Insurance Costs?
The make and model of your car are two of the most important factors for determining your car insurance premiums. But numerous other factors also play a role in your car insurance premiums, including:
- Your age, gender, and marital status
- Your credit score
- Where you live
- The amount of coverage and deductible that you choose
Every insurance company has its own proprietary method for calculating insurance rates, which is why you’ll see a range of premiums for the same make and model. But most companies also offer a wide range of car insurance discounts that can help you save money on your car insurance premiums.
An independent insurance agent can help you find the best rates in your area and can help you make sure that you take advantage of all the discounts for which you are eligible.
Where Can I Get Ferrari Insurance?
Many standard car insurance companies do not cover Ferraris. Here are some highly-rated insurance companies that do offer insurance for Ferraris.
An independent insurance agent in your area can help you find the best insurance company for your Ferrari.
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FAQs about Ferrari Insurance
Our research shows that the average cost of insurance a Ferrari is $5,377 per year. This is well above the national average annual insurance cost of $1,311. Your Ferrari insurance costs will be above or below the average for the brand, depending on the model, model year, and your driving profile.
Ferraris are expensive to insure mainly because of their high value and high cost to repair or replace. Ferraris are also very fast, making Ferrari drivers more likely to be involved in an accident.
Ferrari insurance can be hard to find in some cases. Many standard car insurance companies do not cover Ferraris, so you may need to find a policy from a carrier that covers luxury, exotic, or collector cars.
How Can an Independent Insurance Agent Help You Get Ferrari Insurance?
You can get Ferrari insurance by working with an independent insurance agent in your area. Independent agents can help you shop around and compare quotes from companies that specialize in insuring luxury sports cars.
With access to numerous insurance companies nationwide, an independent agent can ensure you get the coverage you need for your Ferrari.
https://www.ferrarilakeforest.com/manufacturer-information/how-much-is-a-ferrari/#:~:text=Ferrari%20812%20GTS%3A%20MSRP%20from,Ferrari%20Roma%3A%20MSRP%20from%20%24243%2C360
https://www.valuepenguin.com/ferrari-car-insurance#cheap
https://www.bankrate.com/insurance/car/ferrari/