How Much Does Ferrari Insurance Cost?

The average cost to insure a Ferrari is $5,377 per year, making it more than two and a half times more expensive than the average cost of car insurance in the U.S.

Find Cheap Ferrari Car Insurance Quotes

Currently insured?
It's free, simple and secure.

Ferrari owners may be better off buying a policy from an insurer that specializes in high-end policies, which are more likely to provide coverage and are often cheaper than a standard insurance company.

Getting Ferrari insurance at all may be a challenge, as not every mainstream insurer provides coverage. Specialty insurers sometimes charge less than standard carriers for Ferraris, 41% in some cases, and may help drivers save on car insurance.

Average cost of Ferrari insurance

Ferrari insurance is very expensive. Across four insurers and 10 Ferrari models, we found an average rate of $5,377 per year. However, the cost varied dramatically depending on whether the quotes were from a standard insurer or from a company that specializes in coverage for classic and collector cars.

The standard insurers we compared rates from gave us an average quote of $5,508 per year for coverage. Meanwhile, the specialty providers quoted an average price of $5,246, with a wide range of rates.

Let an expert find your best rates:

The difference between average rates among companies is more than $4,000 per year, so shopping around can lead to major savings.

Average annual cost of Ferrari insurance by model

Standard insurance company
Specialty insurer
2021 Roma Coupe Turbo$341,545$5,503$6,700
2019 Portofino Convertible$255,008$5,028$5,023
2018 812 Superfast Coupe$335,275$7,204$6,580
2018 488 GTB Coupe$252,800$5,980$5,003
2018 488 GTB Spider Convertible$333,005$6,165$6,536
2017 GTC4Lusso Coupe$298,900$6,058$5,884
2015 458 Italia Coupe$270,000$5,513$5,004
2015 458 Spider Convertible$245,715$5,140$5,186
2009 F430 Convertible$149,830$4,077$3,116
2004 360 Coupe$171,250$4,417$3,430
Compare rates

The primary reason for a Ferrari's high insurance rates is the cost of repair. Fixing a Ferrari after a crash can be expensive, so the costs of collision and comprehensive coverage, which pay to repair your Ferrari if it's damaged, are high as well.

Collector car insurance for Ferraris

When you're thinking of insuring your Ferrari or other high-end luxury car, you may want to consider an insurer that specializes in coverage for exotic, collector and antique cars.

For owners of high-end vehicles, there are many benefits with a collector car insurance company. In some cases, collector car insurance can be cheaper. The cheapest and most expensive companies we analyzed, Grundy and Hagerty, respectively, were specialty companies.

Pros and cons of collector car insurance for a Ferrari

Price may be lower than standard policyMileage limits
Agreed valueMay not insure mainstream cars
Specialized coverages and expertise

Another benefit is that insurance companies for exotic cars also use agreed value. This is the price that you and your insurer agree the car is worth, and it's the amount you'll be paid if your car is totaled or stolen. With a regular car insurance policy, your insurer determines the maximum amount you'll be paid based on its purchase cost and depreciation.

But exotic cars like Ferraris don't depreciate in value like standard vehicles. Some are actually worth more over time. With an agreed value policy, you know the total amount you may be reimbursed before your policy goes into effect.

Specialty insurance companies also often include specialized coverages that are only applicable to high-end cars. This might include coverage that protects your vehicle while it's on display at a car show or protection for extra parts like racing tires.

There are some drawbacks to collector car insurance companies, though. Most significantly, they often have low mileage limits: you can only drive your car a certain number of miles per year. While most owners of Ferraris and other high-end cars primarily use their vehicles for pleasure driving, people who want to use their Ferrari to commute and run errands may be limited by these mileage caps.

Additionally, some collector insurance companies don't provide coverage for standard cars, so you may need a separate policy to protect your daily driver.

Where can I get Ferrari insurance?

Not every mainstream car insurance company sells car insurance for Ferraris. We checked with the top 10 car insurance companies and found that only five will give you a quote for a Ferrari: State Farm, Farmers, Allstate, USAA and Geico. Having fewer options to buy Ferrari insurance means you may have a more difficult time insuring your car.

Sells Ferrari insurance?
American FamilyNo
Liberty MutualNo
State FarmYes


We collected quotes from four insurance companies for our survey: two standard insurers (State Farm and Farmers) and two collector car insurers (Hagerty and Grundy). Rates are for a 30-year-old man who lives in the San Antonio, Texas area, drives his Ferrari 1,000 miles per year and owns another daily-driver car on a separate policy.

Editorial Note: The content of this article is based on the author's opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.