How Much Does It Cost to Insure a Lamborghini?

Last Updated on May 4, 2021

Insuring a Lamborghini is expensive. A Lamborghini is worth substantially more than the average vehicle. It’s also much more powerful than the average vehicle.

The average cost of car insurance for a Lamborghini is around $6,000 to $11,000 per year. Rates vary based on state, model number, driving habits, insurance coverage, and other factors.How Much Does It Cost to Insure a Lamborghini?

Some Lamborghini owners are unable to obtain car insurance from an ordinary insurer. Instead, they need to work with a specialty insurer. Some insurers specialize in insuring specialty cars, luxury cars, sports cars, and performance vehicles.

How much does Lamborghini car insurance cost? Keep reading to find out everything you need to know about car insurance for Lamborghinis.

Table of Contents:

The Average Cost of Lamborghini Car Insurance

The average cost of Lamborghini insurance varies according to several factors. For the calculations below, we assumed the driver with a middle-aged person living in an urban area of the United States. After collecting Lamborghini auto insurance quotes across several model driver profiles, here are the average rates we found for different Lamborghini makes and models:

  • Lamborghini Gallardo: $5,832 per year
  • Lamborghini Murcielago: $5,993 per year
  • Lamborghini Huracan: $6,981 per year
  • Lamborghini Urus: $7,536 per year
  • Lamborghini Aventador: $8,021 per year

For comparison, the average full coverage car insurance policy in the United States is around $1,450 per year. As a Lamborghini owner, you could pay five to six times more per year for car insurance than the average American.

How to Get Car Insurance for a Lamborghini

Getting car insurance for a Lamborghini could be different than getting car insurance for another vehicle. Some of America’s largest insurance companies sell insurance policies to Lamborghini owners, while others do not.

State Farm, Farmers, and Allstate, for example, all sell Lamborghini car insurance policies.

GEICO, Progressive, and Liberty Mutual, however, do not offer car insurance for Lamborghinis.

Depending on your state, a specialty insurer might be your best option for Lamborghini car insurance. Some insurers, like Kelly Klee, specialize in insuring high-end vehicles. These insurers understand high-end vehicles better than the big box insurance companies listed above. They might charge cheaper rates while providing better car insurance than other insurers.

How Collector Car Insurance Works

Some Lamborghini owners work with collector car insurance companies like Hagerty or Chubb. Some companies specialize in insuring collector cars, antique vehicles, high-end sports cars, and other cars with unique insurance requirements.

Collector car insurance may be the right choice for your Lamborghini. A Lamborghini can appreciate in value over time, and collector car insurance reflects the unique value of your vehicle.

Lamborghinis are also expensive. They’re more valuable than an ordinary vehicle, which means they could cost significantly more to repair. The MSRPs of Lamborghini models above range from $120,000 to $420,000.

When you buy collector car insurance, you’re working with an insurer that understands unique vehicles. Instead of shoehorning your Lamborghini into a plan with State Farm, you can buy car insurance from a company that insures thousands of Lamborghini owners across the United States. They understand the cost of repairing a Lamborghini. They understand accident rates and risk factors for Lamborghinis. They know the average theft rates and vandalism costs for Lamborghinis. Because they know all of these risk factors, they’re able to charge the most accurate rates for Lamborghini car insurance.

How Agreed Value Car Insurance Works

One of the biggest advantages of collector car insurance is that you can use an agreed value for your vehicle.

Instead of insuring the entire $420,000 value of your Lamborghini Aventador, for example, you can set up an agreement with your insurer to cover a portion of that amount.

Instead of covering the full cost of the vehicle, you might set an agreed value of $250,000. Your insurer agrees to cover the cost of repairing or replacing your Lamborghini up to this amount. If your Lamborghini is a total loss after an accident, then your insurer will pay a maximum of $250,000.

With agreed value car insurance, you can get good coverage for your vehicle while reducing the cost of premiums. Instead of paying for a $420,000 car insurance policy to cover the full cost of your Lamborghini Aventador, you can pay for a $250,000 policy. There’s less risk for the insurer and more risk for you.

Other Factors that Affect the Cost of Lamborghini Insurance

The average Lamborghini insurance policy ranges in price from $6,000 to $11,000 per year, with most policies falling within the $7,000 to $8,000 per year range.

However, several factors can raise or lower the cost of Lamborghini insurance, including:

ZIP Code: Your insurer checks your ZIP code before assigning premiums. Some ZIP codes are associated with higher accident rates or crime rates. Drivers in big cities tend to pay more for car insurance than drivers in small towns. If you’re insuring a Lamborghini in downtown Los Angeles, for example, then you might pay more than you would if insuring a vehicle in Santa Barbara.

Age: Younger drivers pay more for car insurance than older drivers. With high-end luxury vehicles, this difference can be substantial. According to our research, drivers who are 17, 18, and 19 years old pay $16,000 to $25,000 per year to insure a Lamborghini. Drivers who are older than 70 may also pay higher rates. Your reaction time and vision get worse with age, which could make it increasingly difficult to safely drive a high-end vehicle like a Lamborghini.

Driving History: If you have a clean driving history, then you’ll pay significantly less for Lamborghini insurance than a driver with a bad driving history. A single DUI, at-fault accident, or even a speeding ticket could raise rates by 10% to 40%. That might not make a huge difference on a standard car insurance policy, but it could add thousands per year to your Lamborghini insurance premiums.

Annual Mileage: If you use your Lamborghini as a daily driver, then you’ll pay more for car insurance than someone who only drives their Lamborghini on weekends. Insurers may ask for your average annual mileage before assigning rates. Some collector car insurance companies also offer customized quotes for weekend drivers, summer drivers, or low mileage drivers.

How to Get Cheap Car Insurance on a Lamborghini

Yes, it’s possible to get cheap car insurance on a Lamborghini. By taking advantage of discounts, checking car insurance quotes online, and finding the perfect quote for your needs, you can find the best rates on car insurance regardless of your make and model.

Use Discounts: All insurers offer discounts – even when it’s a Lamborghini. You can bundle multiple car insurance policies together to save money. Or, you can bundle your home and auto insurance with a single company to drop premiums by 20%. You could also qualify for safe driving discounts or loyalty discounts.

Compare Quotes: There are plenty of options for Lamborghini insurance. Some insurers specialize in insuring Lamborghinis and may provide the best quotes. In other cases, it’s best to work with a mainstream insurer like State Farm for your Lamborghini car insurance.

Use the Right Insurer: Some insurers avoid insuring high-end vehicles because of risk. They charge high rates to Lamborghini drivers. Other insurers welcome high-end vehicles into their insurance pool to balance out the pool, charging comparatively low rates to Lamborghini drivers. You can also find specialty insurers – like specialty car insurers.

Get Agreed Value Insurance: If you want to lower the cost of Lamborghini insurance, then get agreed value insurance. With agreed value insurance, you set up an agreement with your insurer to cover a specific value of your vehicle, regardless of the total value of that vehicle. Instead of covering the full $300,000 value of your Lamborghini, for example, your insurer might cover $150,000 while charging lower premiums.

Whether looking for cheap Lamborghini insurance or high-end Lamborghini insurance, you can find a policy that matches your unique needs. Compare quotes today to find the ideal Lamborghini car insurance for your unique needs.

James Shaffer
James Shaffer James Shaffer is a writer for InsurancePanda.com and a well-seasoned auto insurance industry veteran. He has a deep knowledge of insurance rules and regulations and is passionate about helping drivers save money on auto insurance. He is responsible for researching and writing about anything auto insurance-related. He holds a bachelor's degree from Bentley University and his work has been quoted by NBC News, CNN, and The Washington Post.
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