How Much Does Ferrari Car Insurance Cost?
The average monthly insurance cost for a Ferrari is $650, which adds up to about $7,800 per year.
We’ve saved shoppers an average of $600 per year on their car insurance.
The cost to insure a Ferrari varies based on several factors, including your age, driving history, and where you live. Car insurance companies use these details to evaluate the risk and set your premium.
Insurance Cost Per Ferrari Model
| Ferrari Model | Average Yearly Insurance Cost |
| Ferrari 488 GTB | $7200 |
| Ferrari 812 Superfast | $8,400 |
| Ferrari Portofino | $7,500 |
| Ferrari F8 Tributo | $8,100 |
Keep in mind that these numbers are averages, and your actual insurance cost may differ based on where you live, your age, driving record, and the type of coverage you select.
Ferrari Car Insurance Cost – By Company
| Insurance Provider | Average Monthly Premium |
| GEICO | $1,000 |
| State Farm | $1,050 |
| Progressive | $1,100 |
| Allstate | $1,150 |
| Farmers Insurance | $1,200 |
Ferrari Car Insurance Cost – By U.S. State
| State | Average Annual Rate |
| Alabama | $7,000 |
| Alaska | $7,000 |
| Arizona | $7,000 |
| Arkansas | $6,800 |
| California | $10,000 |
| Colorado | $7,000 |
| Connecticut | $8,000 |
| Delaware | $8,200 |
| Florida | $10,250 |
| Hawaii | $8,750 |
| Idaho | $6,800 |
| Illinois | $7,500 |
| Indiana | $7,000 |
| Iowa | $6,800 |
| Kansas | $6,800 |
| Kentucky | $7,000 |
| Louisiana | $8,750 |
| Maine | $6,500 |
| Maryland | $7,500 |
| Massachusetts | $8,000 |
| Michigan | $8,750 |
| Minnesota | $7,000 |
| Mississippi | $6,800 |
| Missouri | $7,000 |
| Montana | $6,800 |
| Nebraska | $6,800 |
| Nevada | $7,000 |
| New Hampshire | $7,000 |
| New Jersey | $8,200 |
| New Mexico | $7,000 |
| New York | $9,000 |
| North Carolina | $7,000 |
| North Dakota | $6,800 |
| Ohio | $7,000 |
| Oklahoma | $7,000 |
| Oregon | $7,000 |
| Pennsylvania | $7,500 |
| Rhode Island | $8,750 |
| South Carolina | $7,000 |
| South Dakota | $6,800 |
| Tennessee | $7,000 |
| Texas | $7,000 |
| Utah | $7,000 |
| Vermont | $7,000 |
| Virginia | $7,000 |
| Washington | $7,000 |
| West Virginia | $7,000 |
| Wisconsin | $7,000 |
| Wyoming | $6,800 |
| Georgia | $7,000 |
How to Save Money on Ferrari Car Insurance?
Owning a Ferrari involves several costs, and car insurance is a significant one. However, there are ways to cut down on these expenses. Here’s how:
1. Keep a Clean Driving Record
Your driving history affects your insurance rates. By avoiding accidents and traffic tickets, you demonstrate to insurers that you’re a low-risk driver, which can help lower your insurance premiums.
2. Bundle Your Policies
Many insurance companies offer discounts if you combine different types of insurance, such as home and auto. This can make managing your policies easier and reduce your overall insurance costs.
3. Increase Your Deductible
Raising your deductible—the amount you pay before your insurance coverage kicks in—can lower your premium. Just make sure you can afford the higher deductible in case of an accident.
4. Add Safety Features
Ferraris come with many safety features, but adding extras like anti-theft devices can further decrease your insurance costs by reducing the risk of theft and damage.
5. Look for Discounts
Insurance companies often offer discounts for things like being a good student, having a clean driving record, or completing a defensive driving course. Check with your insurer to see what discounts you might be eligible for.
6. Compare Quotes
Insurance rates can vary significantly between different providers. Get quotes from multiple insurers to find the best deal for your situation.
7. Consider Usage-Based Insurance
If you don’t drive your Ferrari very often, usage-based insurance might be a good option. This policy type sets your premium based on how much you drive, which can save you money if your Ferrari isn’t your primary vehicle.
