How Much Does It Cost to Insure a Ferrari?

Last Updated on October 7, 2026

By James Shaffer Reviewed by Thomas Rockford, insurance industry executive and financial analyst, on October 4, 2026 How we fact-check

Ferrari insurance is usually expensive because the cars are costly to repair, parts and labor are specialized, and total-loss payouts can be high. Still, many owners can lower premiums by choosing the right coverage structure, considering specialty insurers, and taking advantage of storage, mileage, and deductible strategies.

With the right approach—shopping around, qualifying for discounts, and selecting the right value basis—insuring a Ferrari may be cheaper than you think.

Ferrari Insurance Varies Widely: Pricing depends more on location, usage, and coverage structure than on the badge alone.
Valuation Terms Matter Most in Total Losses: Agreed value, stated value, and actual cash value can produce very different settlement outcomes.
Collector-Style Underwriting Can Improve Fit: If the Ferrari is stored securely and kept for pleasure driving rather than commuting, a collector policy may fit better than a standard one.
Lower Premiums With Proof of Lower Risk: Higher deductibles, low mileage, secure storage, and a clean record are the most reliable levers to pull.

Table Of Contents

The Average Cost of Ferrari Car Insurance
How to Buy Ferrari Car Insurance
How Collector Car Insurance Works
How Agreed Value Car Insurance Works for Ferraris
Other Factors That Raise or Lower Ferrari Auto Insurance Premiums
How to Save Money on Ferrari Car Insurance
FAQs on Ferrari Insurance Costs
Sources

The Average Cost of Ferrari Car Insurance

There isn’t one “average” Ferrari insurance price that applies to everyone. Premiums can swing dramatically based on where you live, how you use the car, and how you insure its value. Two owners with the same model can pay very different rates.

No insurer or regulator publishes premiums by make and model, so every Ferrari figure you see online comes from a rate study that prices one made-up driver. The most recent of those is MoneyGeek’s, updated September 7, 2026. It puts the Ferrari brand average at $3,996 a year, or $5,313 for full coverage and $2,685 for state-minimum liability. Its sample driver is a 40-year-old unmarried man with a clean record, good credit, no prior claims and about 12,000 miles a year, and its full coverage means 100/300/100 liability plus comprehensive and collision with a $1,000 deductible. Change any of that and your number changes.

By model, the same study puts full coverage at about $3,250 on an F430, $3,480 on a 488, $3,540 on an F8, $3,684 on a Roma and $3,936 on a Portofino. An SF90 comes in around $6,504. The limited-production cars are in a different league: $39,048 a year for a LaFerrari and $41,844 for an F80.

One more thing worth knowing about these numbers. Insure.com’s nationwide rate-by-car study, last updated April 17, 2026, does not list a single Ferrari, because it covers the models mainstream carriers actually quote. The most expensive car in that entire study is a Maserati Quattroporte at $7,090 a year. A Ferrari is not a car most standard insurers price off a rate table, which is why so much exotic coverage is placed by hand.

Most insurers price Ferrari policies by evaluating risk and potential claim severity—especially for collision losses, theft, and total losses. The most important pricing inputs typically include:

Pricing Factor	Why It Matters for a Ferrari	What You Can Control
Location	Rates often vary heavily by area due to theft, repair costs, and claim frequency. Your ZIP code can be one of the biggest drivers.	Garage location, storage type, security, and how often the car is parked outside.
Driving History	Tickets, at-fault accidents, and certain violations can raise premiums quickly. Insurers weigh driving history heavily on high-value cars.	Maintain a clean record and consider defensive driving where it qualifies.
Coverage Choices	Higher limits and broader physical damage coverage cost more, but can be essential with luxury claim severity. Your selected coverage limits and deductibles change the price substantially.	Limits, deductibles, add-ons, and whether you want OEM parts coverage (when available).
Vehicle Risk Profile	Different models have different repair complexity, performance risk, theft exposure, and parts availability. Your make and model impacts underwriting.	How you store and use the vehicle, plus whether the insurer offers model-friendly terms.
Other Rating Inputs	Insurers consider many variables beyond the basics—credit-based insurance score (where allowed), garaging, annual mileage, and more. See other factors that commonly affect pricing.	Annual mileage, garaging, driver lineup, and policy structure.

How to Buy Ferrari Car Insurance

Ferrari owners typically insure through either a standard personal auto insurer or a high-end specialty car insurer. Which one is best depends on how the car is used, whether you want agreed value terms, and whether you need options like limited-use or collector-style underwriting.

Many owners also work with agents or brokers who place coverage with carriers comfortable underwriting exotic and collector vehicles. In some cases, specialty providers (or specialty agents) can offer coverage structures that better match real-world Ferrari ownership, such as limited-mileage policies and agreed value settlements.

Some Ferrari drivers go to a high-value carrier such as PURE, formally Privilege Underwriters Reciprocal Exchange, a Florida-domiciled reciprocal insurer whose auto coverage is written “for everyday vehicles, one-of-a-kind collector cars and everything in between.” Because it is a reciprocal, joining has a step a normal insurer doesn’t: PURE says membership “requires an executed Subscriber’s Agreement & Power of Attorney.” Others use a private-client brokerage that places the car with a carrier on your behalf. Kelly Klee was one of those; as of October 2026 its web address forwards to FRP Private Client, which sells “Luxury Vehicle Coverage” for cars and auto collections.

How Collector Car Insurance Works

If your Ferrari is not a daily driver, a collector car insurance company may offer terms that fit better than a standard policy. The eligibility rules are mostly about storage and use, and they are more flexible than people expect.

Collector insurers underwrite mostly on how the car is used and stored. Common requirements:

Secure storage, though not always a locked garage. Hagerty prefers an enclosed structure but says it “will consider other storage types, including: Carports, Driveways, Parking garages, Car hauling trailers.”
A separate everyday car. Hagerty’s rule is that “all household members with a valid driver’s license must have a regular-use vehicle for daily driving.” Grundy does not publish this requirement.
Pleasure use. Hagerty limits the car to “club functions, exhibitions, organized meets, tours and even occasional pleasure driving,” and says occasional pleasure use “does not mean use for daily driving to and from work or school, routine shopping, etc.” Neither Hagerty nor Grundy publishes an annual mileage cap, so don’t assume one.
Clean records for everyone on the policy. Hagerty won’t take an applicant with a serious infraction in the last three years, and it names those as alcohol-related offenses, reckless driving and excessive speed violations.

The two collector specialists people name most are Hagerty and Grundy. Hagerty writes classic car insurance in all 50 states and promises you will be “paid every cent of your car’s insured value in the event of a covered total loss,” less any deductible and any salvage value you keep. Grundy’s agreed value “guarantees you’ll receive the full insured amount in the event of a total loss – with no depreciation.” Chubb belongs in a different box. It is a high-net-worth carrier, and it sells agreed value as an option on its regular auto policy rather than as a collector program.

How Agreed Value Car Insurance Works for Ferraris

Many Ferrari owners consider agreed value car insurance—especially for rare, appreciating, or heavily customized vehicles. “Agreed value” generally means you and the insurer decide on a value up front, and that amount is the basis for a total-loss settlement (subject to the policy’s terms and conditions).

That’s different from a typical standard car insurance policy, where total-loss payment is usually based on the car’s actual cash value at the time of the loss (often influenced by depreciation and local market pricing).

Agreed value can be a strong fit for Ferraris, and it comes with conditions. Expect to document the car with photos, build sheets or an appraisal, and expect questions about where it sleeps and what you use it for. What you should not assume is a hard mileage limit or a locked garage: neither Hagerty nor Grundy publishes a mileage cap, and Hagerty will look at a carport or a driveway. Get the actual conditions in your own quote.

Quick tip: When comparing quotes, ask whether the policy is agreed value, stated value, or actual cash value—and request the settlement basis in writing. The label matters most when a Ferrari is totaled.

Other Factors That Raise or Lower Ferrari Auto Insurance Premiums

Even with the same Ferrari, premiums can vary widely because insurers price driver risk and local claim severity differently. Key variables include:

Key Variables Insurers Commonly Use

State Insurance Requirements: Coverage minimums and required coverages vary by state. Some states require higher minimums than others, which can raise baseline costs. See state-by-state auto insurance requirements.

Uninsured Driver Exposure: Areas with more uninsured drivers often see higher premiums because claims are harder to recover through the at-fault party’s insurance. This can be especially costly when the damaged car has expensive parts and labor.

Age and Experience: Ferrari insurance is typically pricier for higher-risk age brackets. Drivers under age 25 and older drivers often face higher rates.

How You Use the Car: A weekend-only Ferrari usually prices differently than a daily-driven Ferrari. Some owners drive their Ferrari only seasonally, while others put meaningful mileage on the odometer. Insurers often rate based on annual mileage and commute patterns.

Driving Record Verification: Most insurers review motor vehicle reports and sometimes other databases when quoting and renewing. If you’re curious about how underwriting works, here’s what to know about insurers that check your driving record (or don’t).

How to Save Money on Ferrari Car Insurance

Saving on Ferrari insurance usually comes down to reducing claim frequency, reducing claim severity, and proving to the insurer that you’re a low-risk owner. Here are strategies that commonly make the biggest difference:

Strategy	Why It Can Help	Best For
Increase deductibles	Higher deductibles often reduce premiums because you retain more small-to-midsize loss risk. See how raising your deductible affects pricing.	Owners who can comfortably self-insure smaller claims.
Shop specialty and standard markets	Ferrari-friendly underwriting varies widely. Comparing a few insurers can reveal big pricing differences for the same coverages.	Owners who want the best value for their specific usage and storage setup.
Use agreed value when appropriate	If you qualify, agreed value can improve claim predictability for total losses and may fit collector-style usage rules.	Limited-use vehicles, collector ownership, or unique valuations.
Stack eligible discounts	Even Ferrari owners can qualify for savings like bundling, safe driver, and vehicle safety discounts. Review common auto insurance discounts.	Owners with multiple policies, strong driving histories, or qualifying vehicles.
Lean into low-mileage pricing	Driving less reduces exposure and can materially change premiums. Learn how low mileage discounts work.	Weekend cars, seasonal cars, or garage-kept exotics.

Ultimately, the “best” Ferrari insurance is the policy that matches how you actually use the car, protects your assets with the right liability limits, and has a clear settlement basis if the vehicle is totaled. Compare quotes carefully and make sure you’re matching the same coverages, deductibles, and valuation terms before choosing a carrier. My advice is to get one quote from a standard insurer and one from a collector specialist on the same day, then read the total-loss clause in both before you look at the price.

FAQs on Ferrari Insurance Costs

Why Is Ferrari Insurance So Expensive?

Ferraris are costly to repair and replace, and claims tend to be higher severity due to parts, specialized labor, and higher total-loss values. Insurers also consider theft exposure and the higher performance risk profile.

Is Agreed Value Insurance Worth It for a Ferrari?

It can be, especially for rare, appreciating, or highly optioned vehicles. Agreed value sets the settlement basis up front for total losses. Expect documentation, meaning photos, build sheets or an appraisal, and expect questions about storage and use. Don’t assume a mileage cap or a locked garage; Hagerty publishes neither, and it will consider a carport or a driveway.

Can I Insure a Ferrari With a Standard Auto Insurance Company?

Sometimes, yes. Some standard insurers will write exotic vehicles in certain states and for certain driver profiles. If a standard carrier won’t write it (or prices it aggressively), specialty or collector markets are often the next step.

Do Collector Policies Require a Garage?

Not necessarily. Hagerty prefers an enclosed structure but will consider carports, driveways, parking garages and car hauling trailers. What it does restrict is use: club functions, exhibitions, organized meets, tours and occasional pleasure driving, not the daily commute or the grocery run. Neither Hagerty nor Grundy publishes an annual mileage limit, so ask what yours actually says.

Does Ferrari Insurance Cover Track Days?

Read the exclusion rather than assume. A standard personal auto policy knocks out a vehicle “located inside a facility designed for racing, for the purpose of … competing in … or practicing or preparing for … any prearranged or organized racing or speed contest.” The same trigger appears under liability, medical payments and damage to your own car, so all three drop away at once when it applies. Whether a non-competitive track day falls inside that wording depends on the event and your policy, so get it in writing from your insurer before you go.

What’s the Best Way to Lower Ferrari Insurance Premiums?

The most reliable levers are higher deductibles (if you can afford them), reduced annual mileage, secure storage, a clean driving record, and comparing multiple carriers that actively insure exotics.

How Much Liability Coverage Should a Ferrari Owner Carry?

There’s no single right number, but higher liability limits are commonly recommended for high-asset households because lawsuits can exceed minimum state requirements. Match limits to your risk tolerance and overall financial situation.

Sources

Checked October 4, 2026

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