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Ferrari’s stylish take on the sportswagon, the GTC4 Lusso has hit American roads. But the prestige of the Italian-made car comes at a price. Since it’s a speedy coupe that’s riskier to insure than a sedan or minivan, insurers protect themselves by charging a higher premium.
The average cost of insuring a 2017 Ferrari GTC4 Lusso is $1,396 a month — or $16,752 a year. Your exact rate varies depending on factors like your age, gender, location and driving record.
Discover coverage that’s broader than competitors, valuable discounts up to 30% off and perks like shrinking deductibles that reward no claims.
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 |
When you’re shopping around for a policy to protect your Ferrari, consider these factors.
The Ferrari GTC4 Lusso costs more to insure because of its premium quality and fast acceleration, 0-100 in 3.4 seconds makes this car a high-risk for insurers. This sports luxury vehicle also requires high priced Italian parts that contribute to high premiums.
Insurers use intricate algorithms that assess your driving history, where you live, the car you drive and how often you drive it. They weigh things like mileage, body styling and engine power differently, which is why rates vary between providers.
For a Ferrari GTC4 Lusso, the car insurance rate is affected by the following factors.
When calculating your premium, providers look at your age, gender and marital status. They’ll also consider your driving history and any violations, accidents and claims. If your driving record is free from major blemishes in the past three to five years, you’ll most likely get a better rate.
Your insurer also assesses your credit history and list of nominated drivers. With the Ferrari GTC4 Lusso, these factors are heavily scrutinized thanks to its luxury status and high premiums. Most insurers won’t cover teenagers or people with poor credit or less-than-stellar driving records who drive the Lusso.
Yes. Your provider may apply these discounts to your policy, which can cut the cost of your insurance by up to 30%.
The Ferrari GTC4 Lusso hasn’t undergone crash testing by the National Highway Traffic Safety Administration (NHTSA) or the Insurance Institute for Highway Safety (IIHS). While it’s been widely reviewed, it’s yet to be rated by US News and JD Power, but that’s not unusual for luxury cars like this.
So far, there are no recalls or consumer complaints on file with the NHTSA.
The car is fitted out with advanced safety features like antilock brakes, stability control, traction control, front and side impact airbags, pretensioners, daytime running lights, LED brake lights, low tire pressure warning and parking assist. It’s also equipped with sophisticated security devices like a theft deterrent alarm and ignition disable, which prevents the car from starting without the correct key. It has a toggle switch with modes for different driving conditions: snow, wet, comfort and sport. If you invest in extra safety features, your insurance carrier may reduce your premium.
With its powerful V12 engine, the GTC4 Lusso burns up a lot of fuel. According to Fuel Economy, the average fuel cost is $3,950 per year based on current fuel prices and a mix of highway and city driving. You can expect to pay $12,000 more to fill the 24-gallon tank over five years than the average new car.
Lusso means luxury in Italian, and this Ferrari is the epitome of luxury. The attention to detail is so exquisite it won the Most Beautiful Supercar of the Year Award at the Festival Automobile International in 2017.
Ford almost bought Ferrari in the ‘60s for $10 million, a whopping price for that period. But Enzo Ferrari rejected the offer at the last minute when he discovered Ford wanted him to give up control of the Ferrari racing program. That was the source of his pride and passion, and as the story goes, Enzo stormed out after spitting out a passionate speech in Italian.
Still searching for a luxury car? Compare similar makes and models.
For insurers, the Ferrari GTC4 Lusso is risky to cover. It’s expensive, fast and attracts a certain kind of car enthusiast. While most providers are happy to insure the car, they protect themselves by charging a higher premium and imposing restrictions on teens and people with blips on their driving record.
Ferrari’s warranty and maintenance program is more generous than other luxury car brands, which helps to balance out the costs of insurance.
To get the most bang for your buck, compare car insurance providers before signing off on coverage.
Compare car insurance companies near you.
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