Ferrari Car Insurance Prospectus

Founded by Enzo Ferrari in 1929 the company began building race cars then started to produce a street-legal production car to fund the motor racing. The first streetcar was the V12 engine 125 S, launched in 1947.  Ferrari truly hit the scene with the supercar program, starting in 1988 with the creation of the F40. Ferrari has a very good reputation among the industry’s most exclusive motor enthusiasts. Many racing and car enthusiasts drive Ferraris due to the nature of this type of design attribute.

2016 Ferrari Cars currently offer four main models which include:

• 458 Italia
• F12berlinetta,
• FF
• California
• Watch soon there will be a hybrid supercar ‘La Ferrari’

Ferrari Car Insurance Cost in Canada

It is difficult to provide exact insurance costs for Ferrari models in Canada as they are high-end luxury sports cars with a high value and unique features. Insurance companies often provide individualized quotes for such vehicles based on several factors including the driver’s age, driving record, location, and other details specific to the car. However, here are some estimated annual insurance costs for popular Ferrari models in Canada, based on a 30-year-old driver with a clean driving record:

1. Ferrari 488 GTB –

• British Columbia: $10,000 – $15,000
• Alberta: $8,000 – $12,000
• Ontario: $12,000 – $16,000
• Quebec: $6,000 – $9,000

2. Ferrari 488 Spider –

• British Columbia: $10,000 – $15,000
• Alberta: $8,000 – $12,000
• Ontario: $12,000 – $16,000
• Quebec: $6,000 – $9,000

3. Ferrari California T –

• British Columbia: $9,000 – $13,000
• Alberta: $7,000 – $11,000
• Ontario: $10,000 – $14,000
• Quebec: $5,000 – $8,000

4. Ferrari Portofino –

• British Columbia: $9,000 – $13,000
• Alberta: $7,000 – $11,000
• Ontario: $10,000 – $14,000
• Quebec: $5,000 – $8,000

5. Ferrari F8 Tributo –

• British Columbia: $10,000 – $15,000
• Alberta: $8,000 – $12,000
• Ontario: $12,000 – $16,000
• Quebec: $6,000 – $9,000

6. Ferrari SF90 Stradale –

• British Columbia: $10,000 – $15,000
• Alberta: $8,000 – $12,000
• Ontario: $12,000 – $16,000
• Quebec: $6,000 – $9,000

7. Ferrari GTC4Lusso –

• British Columbia: $9,000 – $13,000
• Alberta: $7,000 – $11,000
• Ontario: $10,000 – $14,000
• Quebec: $5,000 – $8,000

8. Ferrari GTC4Lusso T –

• British Columbia: $9,000 – $13,000
• Alberta: $7,000 – $11,000
• Ontario: $10,000 – $14,000
• Quebec: $5,000 – $8,000

9. Ferrari Roma –

• British Columbia: $10,000 – $15,000
• Alberta: $8,000 – $12,000
• Ontario: $12,000 – $16,000
• Quebec: $6,000 – $9,000

10. Ferrari 812 Superfast –

• British Columbia: $10,000 – $15,000
• Alberta: $8,000 – $12,000
• Ontario: $12,000 – $16,000
• Quebec: $6,000 – $9,000

Please note that these are only estimates and actual insurance rates may vary based on multiple factors, including the driver’s age, driving history, location, and other details specific to the car.

Ferrari Car Insurance Impact

Of course, the cost of car insurance is variable and depends upon several factors. If it is in a high crime area, a Ferrari’s insurance premium could be extremely high based on that factor.

You may be able to reduce your insurance costs more by keeping your Ferrari in storage for part of the year. An insurance premium discount is also possible if you only drive the Ferrari as a collector car or antique vehicle. In this case, you would have to prove that your vehicle is more than 25 years old and you drive it less than a prescribed number of kilometers per year.

Ferrari Accident Benefit Performance

Unfortunately, there is currently no safety rating for Ferrari vehicles.  Safety features do include:

• Auto delay headlamps
• Dual front side-mounted airbags
• Dusk sensing headlamps
• Self-leveling headlamps
• Front head airbags
• Xenon high-intensity discharge headlamp

Ferrari Collision Costs

Since Ferraris are so very expensive, they can also be so very expensive to repair. While most of the brand’s vehicles enjoy very good safety record results and compared to other similar vehicles Ferraris may be driven for a long time without requiring servicing or repair, Ferrari owners do eventually pay many times more than more economical car brand owners to fix their cars mechanical repairs and typical maintenance and upkeep.

Comprehensive Claim Costs for Ferrari

Auto insurance is usually based on a driver’s record, location, personal information, and status, as well as credit rating, the make and model of car one drives, is also a determining factor. As anyone would think more expensive vehicles tend to carry higher premiums than more economical ones. As well, it stands to reason that a more expensive car the is also more costly to repair. Ferrari being limited in the market, however, serves them well in remaining off the top ten list of stolen vehicles. A small break when it comes to insurance premiums.