Ferrari GTC4 Lusso car insurance rates

Ferrari GTC4 Lusso car insurance rates

• How we got this rate

  To determine our estimated cost, we aggregated quotes from insurance companies using this profile:

  • A 30-year-old woman in Los Angeles, California
  • Drives a 2017 Ferrari GTC4 Lusso
  • Drives between 10,000 and 12,000 miles per year
  • No accidents in the past five years
  • Parks car in secure garage

How to compare insurance for the GTC4 Lusso

When you’re shopping around for a policy to protect your Ferrari, consider these factors.

• Price. Just like the sticker price, it’s expensive to insure a luxury car. To get the most value for your money, compare premiums between providers. Figure out how much coverage you need, and then use that sample to get quotes.
• Coverage types. For a luxury car like the Ferrari GTC4 Lusso, you might want to purchase more than the minimum liability protection. Ideally, your policy should cover the cost of damages in an accident. Many traditional providers cap their liability coverage at $300,000 to $500,000 per accident. If that’s the case, it may be worth looking into luxury car insurance with higher coverage limits.
• Extras. To enhance your policy with extras like accident forgiveness and vanishing deductibles, ask your provider for a list of available add-ons. If you choose luxury car insurance, you may have access to additional perks, like carjacking coverage or gap coverage.
• Restrictions. Luxury car insurers tend to have stricter driver requirements, which means your teenager might not be covered by your policy. You may not be able to register the car to a business or LLC, and some providers may restrict you from driving your Ferrari overseas. Find out about the restrictions now to avoid any denied claims in the future.
• Manufacturer offer or unique discounts. Ferrari unsurprisingly doesn’t have any special programs, but the Ferrari Club of America (FCA) does. As a member, you may be privy to discounts on parts and labor at Ferrari dealerships across the US. The FCA also has partnerships with car insurance companies like Hagerty Insurance, which offers a 5% discount for members in all states but California, Massachusetts and Tennessee. Depending on your provider, you might be eligible for limited-use and multi-vehicle discounts.
• Warranty. A three-year, unlimited-mile warranty comes standard with any new Ferrari GTC4 Lusso. The brand’s warranty program includes three years of roadside assistance and seven years of general maintenance. This is generous, even in the luxury car realm.

Why is insurance so expensive for the Ferrari GTC4 Lusso?

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.

What factors affect car insurance for the Ferrari GTC4 Lusso?

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.

• Body type. The GTC4 Lusso is a luxury, three-door shooting brake — a two-door station-wagon coupe. Though it seats four, these two-door hatchback models tend to have higher premiums, since smaller cars are at greater risk of damage in an accident.
• Fuel option. The car runs on premium gasoline and has a 6.3L, V12 engine, which could increase rates.
• Type of car. The Ferrari GTC4 Lusso is classed as a grand tourer, a high-end, high-performance car that’s capable of speed and long-distance driving. With these specs, it’s an expensive car to insure.
• Theft. In general, Ferraris have low theft rates, but luxury car insurers usually offer carjacking coverage just in case.
• Repairs. It’s costly to replace the interior or repair body damage, and that drives up the price of insurance premiums. Ferrari has a strong warranty program for maintenance issues though.
• Safety features. The car is equipped with sophisticated safety features, like antilock brakes, stability control, traction control, pretensioners, ignition disable and multiple airbags. These features reduce the risk of injury in an accident and can lower the cost of insurance slightly.

Does the Ferrari GTC4 Lusso qualify for discounts?

Yes. Your provider may apply these discounts to your policy, which can cut the cost of your insurance by up to 30%.

• New car discount
• Antitheft discount
• Safety device discount

Reliability and safety ratings for the Ferrari GTC4 Lusso

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.

Compare Ferrari GTC4 Lusso competitors

Still searching for a luxury car? Compare similar makes and models.

Bottom line

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.

Frequently asked questions about the Ferrari GTC4 Lusso

• What is the difference between the GTC4 Lusso and GTC4 Lusso T?

  The GTC4 Lusso T is a more subdued version of the GTC4 Lusso. It’s rear-wheel drive only and has a 3.9L twin-turbocharged V8 engine. It has a top speed of 199 mph and can accelerate from 0 to 62 mph in 3.5 seconds.

• What car-related factors can impact the cost of insurance?

  These factors can affect the price of your policy:

  • The car’s safety and reliability record
  • The cost to repair interior or exterior damage
  • The cost to maintain the car
  • The likelihood of the car being stolen

• Should I insure my car for an agreed value or its market value?

  It depends what the car is worth. Many luxury auto insurers use an agreed value instead of the car’s actual cash value to determine the maximum payout in the event of a total loss or extreme damage. With market value, the car is insured for its current market value at the time of the claim — including depreciation.

• What is carjacking coverage?

  Also known as carnapping coverage, it offers medical care or counseling if your car is stolen with the use of intimidation, force or violence. Carjacking is a federal offense and a bigger concern for drivers of high-end and exotic cars. This kind of coverage is often included in luxury car insurance policies.