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The average insurance costs for a Ferrari 488 is $868 per month — $10,416 per year . Your actual cost could be more or less depending on your driving record, the number of miles you drive in a year and other factors.
The 488 Spider’s average insurance rate is $868 per month or $10,416 per year. That cost is nearly $9,000 above the national average of $1,426 per year. Compare that to the GTB’s average insurance rate, a slightly lower $783 per month, or $9,396 per year. However, the price is still nearly $8,000 above the annual national average.
| Model | Monthly insurance rate | Base car Price |
|---|---|---|
| 488 GTB | $783 | $245,400 |
| 488 Spider | $868 | $272,700 |
| 812 | $1,188 | $335,275 |
| California T | $648 | $202,723 |
| F12 Berlinetta & TDF | $1,015 | $319,995 |
| FF | $935 | $295,000 |
| GTC4 Lusso | $953 | $300,000 |
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Both versions of the 488 come with high average insurance rates. You’ll find the 488 Spider a tad pricier, though, due to its convertible top. In addition, you may consider add-on coverages for wider protection, which will raise your insurance cost.
The Ferrari 488 GTB costs more to insure because it’s a sports car made for speed. It’s V8 engine power make it high-risk for accidents. Also, this luxury Italian vehicle has costly parts and repairs hiking up the price to insure.
This car comes with a variety of safety features that may qualify you for safety discounts on insurance:
This car can hold its own around the racetrack or on the road. Because of that, its insurance rates stay well above average. Other reasons it costs more to insure:
Both the GTB and Spider have had recalls in their first years on the market. After several rounds of making these cars, though, Ferrari has improved its production. Other than a few recalls, these cars have little safety and reliability data to work with.
The Ferrari 488 is a pricey car to insure, going thousands above the national insurance average. On the upside, you can choose the coupe version for a lower premium, and the car comes with discountable safety features.
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