Ferrari GTC4 Lusso car insurance rates | finder.com
Ferrari GTC4 Lusso car insurance rates

Ferrari GTC4 Lusso car insurance rates

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Just like the sticker price, it’s expensive to insure this luxury station-wagon coupe.

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.

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.

Compare insurance providers that cover the GTC4 Lusso

Name Product Roadside assistance New car protection Available states
Allstate
Included free
Yes, cars under 2 years old
All 50 states
Enjoy having your own dedicated agent to help you get the best discounts and coverage.
Liberty Mutual
Optional
Yes, cars under 1 year old & 15,000 miles
All 50 states
Car insurance through Liberty Mutual will give coverage options for almost any situation.
Root
Optional
No
AZ, AR, DE, IL, IN, IA, KY, LA, MD, MI, MS, MT, NM, ND, OH, OK, OR, PA, TX, UT
Root offers simple, affordable insurance that’s ideal for good drivers. Try the Root app for 2 weeks and see how much you could save. Available in 20 states.
Esurance
Optional
Yes, cars under 1 year old & 15,000 miles
All states except AK, DE, HI, MT, NH, VT, WY
Esurance offers a modern online and mobile experience that helps you take your insurance on the go. Available in 42 states.
Metromile
Optional
Yes, cars under 1 year old & 15,000 miles
CA, IL, NJ, OR, PA, VA, WA
Drive less than 30 miles a day? Save on the coverage you need with pay-per-mile insurance from Metromile. Get a low monthly rate then pay just a few cents per mile. Available in CA, IL, NJ, OR, PA, VA and WA.
USAA
Optional
No
All 50 states
USAA offers affordable car insurance with highly rated customer service to millions of military members and their families. Only available to military members, veterans and affiliated military members.

Compare up to 4 providers

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.

Driver factors that affect insurance rates

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.

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

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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.

What you didn’t know about the award-winning Ferrari GTC4 Lusso

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.

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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

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