A Ferrari 488 GTB car insurance rates on average, $868 per month, or $10,416 per year. Depending on your track record and the number of miles you travel in a year, your actual costs may be more or lower than you think.
- How do I compare insurance for the Ferrari 488?
- Why is insurance so expensive for the Ferrari 488?
- Does the Ferrari 488 qualify for discounts?
- Why is insurance so high for the Ferrari 488?
- How reliable is the Ferrari 488?
- Bottom line
How do I compare insurance for the Ferrari 488?
The 488 is available in two trim levels, both of which have very high average insurance prices. In contrast, the convertible head on the 488 Spider makes it seem a little sacramental. To make your insurance more expensive, you may put on an extra coverage option.
- Body type. There is a robust convertible sports cup (GTB) included with the Ferrari 488.
- Fuel. The V8 engine in this vehicle saves gasoline, but it also raises the price compared to other sports cars. The combined city/highway mileage is 18 mpg with the 488.
- Maintenance. Maintenance and repair costs are high, as one would expect with a Ferrari. A seven-year respite from maintenance costs is included with this plan.
- Coverage. This sports vehicle has been a labor of passion for you. Consider additional insurance coverage for high-end cars or standard insurance add-ons. Vehicle uninsured and sub-secured/loan gaps are among the search criteria.
- Options insurance. It isn’t possible to cover all insurance companies but there are many available options to look into.
- Warranty. For the first three years, Ferrari provides an unlimited-mileage warranty. Don’t forget the maintenance schedule for the next seven years.
Why is insurance so expensive for the Ferrari 488?
Because it’s a fast sports vehicle, the Ferrari 488 GTB costs more money. It’s very risky to drive a car with a V8 engine if anything goes wrong. Furthermore, the cost of maintaining this stunning Italian automobile is increasing due to the need for costly components and maintenance.
Does the Ferrari 488 qualify for discounts?
If you buy this vehicle, you’ll be eligible for insurance discounts because of the many safety features it has:
- Anti-theft system
- Anti-lock brakes
- Electronic stability control
- Driveline traction control
- Low tire pressure warning
- Parking sensors (488 Spider)
Why is insurance so high for the Ferrari 488?
It may take place within or outside of the circuit. As a result, their insurance rates are much higher than the national average. Insurance for other reasons comes at a cost that’s separate:
- Sales price. The 488 can cost up to $200,000 or $300,000, depending on the model you select. As a result, in the event of an accident, the cost of repair or replacement will be higher.
- Requirements for coverage. Consider purchasing additional or premium car insurance. More protection costs more money.
- Cabinet top. Expect the retractable hardtop if you go with a Ferrari Spider to get a better deal. Convertibles reduce crash safety for passengers.
- Motor power. With a 600 or 700 horsepower engine, the 488 rips down the road. Insurance companies compensate for the increased danger of high-speed driving by raising the premium.
- Reparations specialized. Your insurance provider’s budget may be slashed even more if a European component expert or a Ferrari specialist is involved.
- A little body. In comparison to other vehicles, sports cars have a smaller body size and are thus more fun to drive at high speeds. In the event of a more serious car accident, they may sustain serious injuries.
How reliable is the Ferrari 488?
In their initial years on the market, the GTB and Spider both experienced recalls. Ferrari, on the other hand, has improved manufacturing after many iterations. Other than a few warnings, there is little information available on the safety and dependability of these vehicles.
- Safety. As is customary with Ferraris, the 488 has no additional security classification both from NHTSA and IIHS. Please be aware of the vehicle’s high speed and power. Consequently, safety gear would be required.
- Reliability. The vehicle has lost all credibility. Recent Ferrari models have earned a reputation for dependability.
- Recalls. In its early years, the 488 had a slew of recalls, including one for a software issue that may have prevented the driver from being alerted to brake drive wear. Also, a faulty gas line was installed, increasing the risk of a fire.
When it comes to insurance, the Ferrari 488 costs thousands more than the national average. You may get a lower-quality cup at the top, but vehicles have less safety.
You may check out our review of Lamborghini Huracan Insurance Rates.