Ferrari 488 GTB Insurance Cost

An average costs of Ferrari 488 GTB insurance cost is 868 dollars a month—10,416 dollars a year. Depending on your record, the number of miles you travel in one year and other reasons, your real costs might be higher or less.

How do I compare insurance for the Ferrari 488?

Ferrari 488 GTB Insurance Cost - Ferrari Logo

The 488 comes with high average insurance premiums in both variants. However, because of the convertible head, the 488 Spider is a tad priest. You may also select add-on protection coverage that would increase your insurance costs.

  • Body type. As a sports cup (GTB), the Ferrari 488 comes with a hardtop convertible (Spider).
  • Fuel. Due to its V8 engine, this automobile is fuel efficient, but higher than many sports cars. The 488 has a city and highway ratio of 18 mpg.
  • Maintenance. Maintenance and repair expenditures are costly as expected for any Ferrari. It’s a maintenance plan which offers you seven years’ respite from these out-of-pocket expenditures.
  • Coverage. In this sports automobile, you invested a lot of love. Consider additional protection for luxury vehicle insurance or standard insurance add-ons. Search coverage: agreed value, full, uninsured/sub-insured motor vehicle and loans/lease gap.
  • Insurer options. Not all insurance companies will be covered, but when you search around you will have lots of alternatives.
  • Warranty. A 3-year, unlimited mile guarantee is available from Ferrari. Don’t forget that maintenance plan for seven years.

Why is insurance so expensive for the Ferrari 488?

It is more expensive to insure the Ferrari 488 GTB, because it is a speed sports vehicle. It is high-risk for accidentes with V8 engine strength. Moreover the pricey parts and repairs in this luxurious Italian automobile hike the price to insure.

Does the Ferrari 488 qualify for discounts?

This automobile has a number of security features which might qualify you for insurance discounts:

  • Anti-theft system
  • Airbags
  • Anti-lock brakes
  • Electronic stability control
  • Driveline traction control
  • Low tire pressure warning
  • Parking sensors (488 Spider)

Why is insurance so high for the Ferrari 488?

This car may be held on or around the circuit. As a result, its rates of insurance remain significantly above average. It costs extra to insure other reasons:

  • Sales price. The 488 will back a large $200,000 or $300,000 depending on the model you pick. This implies that repairing or replacing in an accident is more expensive.
  • Coverage needs. Consider insurance for premium cars or add-ons? Increased coverage equals an increased premium.
  • Convertible top. If you choose with the Ferrari Spider, anticipate the retractable hardtop to give you a larger premium. In the event of an accident, the convertibles reduce safety of passengers.
  • Powerful engine. With its 600 or 700 HP engine, the 488 is zipping over the road. The danger of high speed driving is compensated by insurance companies by increasing the charge.
  • Specialized repairs. Reparations might include a European part specialist or a specialist for Ferrari, which leaves a larger hole in the budget of your insurance carrier.
  • Small body. Sport cars feature smaller automobile body sizes than other vehicles, making driving at high speeds more attractive. During a bigger vehicle collision they might potentially suffer significant damage.
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How reliable is the Ferrari 488?

In their initial years on the market, both the GTB and Spider experienced recalls. However, Ferrari has improved manufacturing after numerous rounds of creating these cars. These automobiles have minimal security and dependability information to operate on, other than a few reminders.

  • Safety. Normally Ferraris have no ratings with prominent security groups, and the 488 is no other. Keep in mind that this automobile is designed for speed and performance. Consequently, sufficient safety equipment would be required.
  • Reliability. Nothing on the trustworthiness of the vehicle exists. More recent Ferraris models are generally recognized as dependable automobiles.
  • Recalls. In its initial years, the 488 has featured many recalls, including a software issue that may not alert the driver against wear of brake disk drives. Another included an incorrectly coated gasoline line that might lead to a fire.

Bottom line

The Ferrari 488 is a costly insurance vehicle that goes beyond the national insurance average by thousands. On the top, you may pick a lesser quality cup version, and the automobile offers discountable safety.

Check out our rates review of Lamborghini Huracan Insurance Rates.