Though it’s no doubt expensive to insure, the Ferrari California was built to last and owners attest to its reliability. You’ll also receive an extensive maintenance plan to keep this luxury convertible on the road longer. Filter car insurance companies by your state to get a quote.
The average insurance rate for the Ferrari California is $648 per month, or $7,776 per year. The national average sits far lower at $1,426 per year, making this car a whopping $6,350 higher to insure.
How do I compare insurance for the Ferrari California?
Once the warranty wears off, this convertible may need extra coverage for its relatively high-priced repairs. However, Ferrari’s 7-year maintenance plan will help you keep it in good condition until then.
Body type. The California is a luxury convertible, which automatically makes it more expensive to insure. That fact is largely because convertibles come at a high ticket price and their soft tops are less safe than hardtop cars. The California does, however, have an unusual hardtop convertible feature.
Fuel. The vehicle gets between 16 and 23 mpg, which is standard for sports cars.
Maintenance. Maintenance costs can be expensive on this Italian supercar. However, Californias are built to last. For example, the brakes and clutch have reported long-lasting value among car owners as reported on various car forums.
Coverage. In addition to higher maximum coverage than the state minimum, you may want to include add-on coverage or luxury car insurance to protect your investment. Add-ons to consider: loan or lease gap, uninsured/underinsured motorist and agreed value coverage.
Insureroptions. Most insurance companies will provide coverage for convertibles. However, your options may get more limited if you’re opting for luxury car insurance.
Warranty. Ferrari offers a 3-year, unlimited mileage warranty to cover basic repair costs and a maintenance plan that lasts 7 years at no extra cost to you.
Why is insurance so expensive for the Ferrari California?
The Ferrari California T costs more to insure because it’s a convertible, and no hard top means higher risk for insurance companies. Also, this luxury brand requires expensive Italian parts making it a higher price to repair.
Does the Ferrari California qualify for discounts?
To offset this car’s high insurance cost, you may be able to get discounts for having these safety features.
Anti-theft system
Airbags
Anti-lock brakes
Electronic stability control
Parking sensors
Why is insurance so high for the Ferrari California?
Although you may love the idea of a sporty California, this car does have a high average insurance rate. That rate is affected by:
High MSRP. The car has a price tag ranging in the $200,000s, making it more costly to repair or replace after an accident.
Higher coverage. If you choose add-ons or luxury car insurance, these options will up your rates. But you’ll also get premium coverage as the tradeoff.
Powerful engine. The California comes with a powerful engine built for speed, and your insurance company knows that. Sports car drivers are more likely to use their cars at higher speeds.
Specialized repairs. This Italian sports car may need special parts or a Ferrari specialist for repair work.
Convertible top. The car’s breezy top-down ride makes for less protection during an accident than a car without a convertible top.
How reliable is the Ferrari California?
Ferrari California car owners love the car’s low maintenance and repair needs. The car has had a few recalls in past years, though.
Safety. This car hasn’t been reviewed by top safety organizations. That’s likely due to the car’s high price tag, making it a somewhat rare choice for consumers.
Reliability. The California was built to last. Car owners from review sites and forums sing its praises, including its minimum maintenance and minor repair problems.
Recalls. A few recalls have been issued over the years, including a dangerous low pressure fuel line connection, an improperly installed driver side airbag and airbag inflators that exploded upon deployment. These issues have been resolved in recent models.
Bottom line
The Ferrari California’s average insurance rates stand well above the national average. You may have its convertible body, recalls and high-cost parts to thank for that fact. However, owners express their love for its reliability and extensive maintenance plan.
Compare car insurance options for your Ferrari California. Still looking into different cars? Check out their insurance costs upfront.
Frequently asked questions about the Ferrari California
This car starts at the lower $200,000 range. However, adding various features can significantly increase that price. When comparing sports car prices, keep in mind this car’s 7-year maintenance plan offering.
The California can hit 62 mph from a standstill in 3.6 seconds.
This car features a turbocharged 3.9-liter V-8 engine with 557 pound-feet of torque.
Sarah George is a personal finance writer at Finder who’s spent the last four years wielding her digital pen on all things banking and insurance. Her know-how has been featured in such publications as CBS, CNET and Reviews.com, and she was a panelist in Finder’s 2020 money-saving webinar. Sarah earned an English education degree and is a Certified Educator in Personal Finance.
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