The average monthly cost of insurance for a Ferrari 488 is $868, or $10,416 per year. Depending on your driving record, the number of miles you travel per year, and other considerations, your actual cost could be more or lower.
The average insurance rate for a 488 Spider is $868 per month, or $10,416 per year. This costs over $9,000 more per year than the national average of $1,426. In comparison, the average insurance rate for the GTB is $783 per month, or $9,396 per year. The price is, however, approximately $8,000 higher than the national average.
How much does it cost to insure a LaFerrari?
The Ferrari LaFerrari is a limited-edition hybrid hypercar that outperforms all previous Ferraris. Only 499 LaFerraris were produced, with another 200 being manufactured in the open-top Aperta version, each costing well over $1 million. The LaFerrari is a successor to the Ferrari Enzo and competes with the most powerful hypercars on the market. The Ferrari LaFerrari is a hybrid hypercar that comes with exorbitant insurance costs. The average cost of insurance for a LaFerrari is $1,926 per month, or $23,112 per year. If you choose an agreed-value policy, which insures your LaFerrari for its entire value, your final premium could be considerably more. To get a quote, sort automobile insurance firms by state.
For expensive supercars like the LaFerrari, insurance prices are determined differently, although they are generally based on the following parameters.
- Type of body. The LaFerrari was designed with one goal in mind: to accelerate from 0 to over 200 mph as quickly as possible, which takes roughly 15 seconds. Because this hybrid hypercar is constructed of carbon and appears to be able to fly across space, your insurance company will classify you as a high-risk driver.
- Fuel. The Ferrari LaFerrari is a hybrid with a 6.3-liter V12 engine and an electric motor. The LaFerrari isn’t built for fuel economy, with top speeds well above 200 mph, 950 horsepower, and total torque of 664 lbs. per ft. When the car is opened up for high performance, its 15 mpg drops dramatically, meaning the LaFerrari will not qualify for any fuel efficiency savings from your insurance carrier.
- Theft rates are high. With only 500 LaFerraris ever produced and a price tag of $1.5 million, you can be confident that each one is safely stored. Insurance companies aren’t concerned about theft in particular, but the car’s high price and restricted availability make it irreplaceable.
- Maintenance. Maintenance on the LaFerrari will cost thousands of dollars every year, which is standard for high-performance hypercars. As a result of the high cost of replacement parts and labor on this limited-production car, insurance rates will skyrocket.
- Coverage. Because the LaFerrari is worth well over $1 million and is anticipated to rise in value over time, you’ll want to acquire an agreed value insurance policy that guarantees coverage for a specific amount.
- Options for insurance companies. Because the LaFerrari is so expensive, most regular insurance companies will not insure it. Instead, it will need to be insured on an agreed value policy. AIG, Hagerty, Chubb, Nationwide, J.C. Taylor, or Grundy are examples of companies that specialize in luxury vehicles.
- Warranty. Ferrari’s basic warranty is three years long, with no mileage restrictions and the opportunity to extend it for a further duration. You won’t need to add roadside assistance to your insurance policy because it comes standard.
How much does a 488 Ferrari cost?
The 2019 Ferrari 488 GTB’s Manufacturer’s Suggested Retail Price (MSRP) has risen $10,000 over the 2018 model to a cool $262,800. That’s before you factor in the $3,750 required destination fee, bringing the total to $266,550 before alternatives. The Spider starts at $284,700, plus shipping. The new Pista, on the other hand, will cost you back $349,050.
At this level of play, the competition includes some well-known and equally powerful names. The Huracán Evo and Performante from Lamborghini have 630 horsepower and cost between $260,000 and $280,000, depending on the model and upgrades. The McLaren 720S is one of the most unusual cars in this class, and it offers an even more engaging driving experience, starting at close to $290,000 before options.
The Ferraris’ innate uniqueness, particularly the Pista, should maintain resale values exceptionally high. These are vehicles that do not depreciate rapidly.
How much is insurance on a Ferrari F12?
The F12 also known as the F12berlinetta, Berlinetta, and F12B has a high price tag and uses specific Italian parts, putting it at the top of insurance prices. You can, however, negotiate savings depending on the F12’s safety features.
The average insurance rate for the F12 is $1,015 per month, or $12,180 annually. This amount is $10,750 more than the national average of $1,426 per year.
Does Geico insure Ferrari?
- Exotic automobiles such as Ferrari, Lamborghini, Aston Martin, Rolls-Royce, and other such brands, regardless of age.
- Cars that are at least four decades old, are kept safely, and are not driven on a regular basis.
- Fire trucks, army vehicles, hearses, and other single-purpose vehicles are examples.
Will USAA insure a Ferrari?
Only four of the top ten vehicle insurance companies will provide you with a quotation for a Ferrari: State Farm, Farmers, American Family, and USAA.
Is the Ferrari 488 reliable?
Ferrari has earned a reputation for manufacturing cars that are dependable, and with regular maintenance, the 488 GTB should be trouble-free. Because there aren’t enough of them, the car won’t be crash-tested by Euro NCAP, but there are plenty of ingenious electrical systems keeping it steady, including a massive carbon-ceramic brake system derived from the LaFerrari hypercar.
How much do you pay monthly for a Ferrari?
Let’s start with the “pie-in-the-sky” option. The automobile in question is a 2019 Ferrari 812 Superfast, which has a top speed of 211 mph and a price tag of $315,000. To own anything like that, you’ll obviously need some cash and decent credit. Consider it similar to having a second house, but instead of paying it off over 30 years, you’ll pay it off in less than 8. Your monthly payment will be $5,831 if we choose an average loan period (60 months at 4.21 percent APR). That’s a significant sum of money, and the Ferrari is unlikely to be your first supercar in this scenario.
Let’s take a look at a more practical method to join the Ferrari family. For under $100,000, a 2012 Ferrari California Roadster is available. That’s half the price of a 2018 model, and because most Ferrari owners drive their cars carefully, the mileage can be as low as 15,000 miles.
With no money down and a 4.21 percent APR for 60 months, the payments for this automobile will be $1,851. That’s a number that’s a lot easier to handle. (Because the APR has such a big impact on your payment and total balance, it’s a good idea to shop around for the best auto loan rates you can find.) After three years on the market, the value of a new Ferrari often drops by $100,000. That is why used Ferraris are so valuable. Although the price has dropped dramatically, it is still a Ferrari.
The 2007 Ferrari F430 is another automobile that costs under $100,000. This has a more traditional Ferrari appearance to it, which we all know and love. Low-mileage models will cost a little extra, but middle mileage will only cost around 25,000. It’s a good idea to aim to remain around $100,000, not just to save money, but also because many lenders won’t lend anything more than that. There are 293 Ferraris under $100k on Autotrader at the time of writing (and browsing through will discover treasures as low as $50,000). So you have a lot of options.
How much is insurance for a Ferrari F8 Tributo?
The Ferrari F8 Tributo is an expensive sports car to insure. The Ferrari F8 Tributo is anticipated to cost $557 per month or $6,684 per year in vehicle insurance. The price-to-cost ratio is 2.42 percent, compared to the national average of 3 percent, with a starting MSRP of $276,550. Your actual cost will be determined by your location, driving history, F8 Tributo trim and options, and other considerations.
Theft rates, vehicle performance, maintenance costs, and other factors that vary by make and model determine insurance premiums for the Ferrari F8 Tributo. Here’s how the F8 Tributo stacks up against the competition.
- Vehicle type. The Ferrari F8 Tributo is a sports car, and sports cars are more expensive to insure.
- Theft. Theft rates for this vehicle are low, potentially lowering insurance costs.
- Repairs. The cost of repairs for this car is high, which contributes to high insurance premiums.
- Ratings for safety. This vehicle has good safety ratings, which means it will be less expensive to insure.
- Type of fuel. Gas-powered vehicles are usually slightly less expensive to insure than vehicles powered by other fuels.
- Trim. When you choose a more expensive trim level or more features upgrades, your insurance usually goes up. Depending on the model year, the Base trim is a popular trim option for this car.
- Coverage. For a sports car, you might want to seek a policy that includes the minimum coverage required by your state, as well as high liability limits and accident and comprehensive coverage. And the more coverage you have, the more expensive your insurance will be.
- Warranty. Ferrari offers a 36-month, unlimited-distance warranty on new F8 Tributos, as well as roadside support.
- Deals with the manufacturer Ferrari is currently offering a lease special. Check with your local Ferrari dealer to see if there are any other financing options available.