Ferrari 488 GTB Car Insurance Rates

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The average cost of a Ferrari 488 GTB is $868 a month— $10,416 a year. Your true expenses may be more or less depending on your record, the number of miles you travel in a single year.

How do I compare insurance for the Ferrari 488?

Ferrari 488 GTB Car Insurance Rates - Ferrari Logo

The 488 comes in both versions with high average insurance costs. But the 488 Spider is a tad priest because of the convertible head. You may also pick an additional cover to raise the cost of your insurance.

  • Body type. The Ferrari 488 comes with a tough convertible as a sports cup (GTB) (Spider).
  • Fuel. This car is fuel efficient, but higher than many sports cars because of its V8 engine. The ratio of 488 is 18 mpg for town and road.
  • Maintenance. As expected with any Ferrari, maintenance and repair expenses are expensive. It is a maintenance package that provides you with a seven-year break from the expenses.
  • Coverage. You have spent a lot of love in this sports car. Consider further protection for luxury insurance vehicles or regular add-ons for insurance. Currency of search: agreed value, complete, motor vehicle uninsured and sub-secured/loan gap.
  • Options insurance. Not all insurance providers are covered, but there are plenty of choices to browse about.
  • Warranty. Ferrari offers a three-year unlimited mile warranty. For seven years, don’t forget the maintenance plan.

Why is insurance so expensive for the Ferrari 488?

The Ferrari 488 GTB is more costly since it is a speed sports car. The danger for V8 engine strength accidents is considerable. Moreover, with this beautiful Italian car, the price is rising to ensure the expensive parts and repairs.

Does the Ferrari 488 qualify for discounts?

This car includes a variety of safety features that might qualify you for insurance rebates:

  • Anti-theft system
  • Airbags
  • 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 can be held either in the circuit or around it. Their insurance prices, therefore, stay much above average. The expense of insuring additional causes is extra:

  • Sales price. Depending on the model you choose, the 488 will back a big $200,000 or $300,000. This means that it is more expensive to fix or replace in an accident.
  • Requirements for coverage. Consider premium vehicle insurance or supplements? Greater coverage corresponds to a higher price.
  • Cabinet top. If you pick a Ferrari Spider to provide you a greater premium, anticipate the retractable hardtop. The convertibles impair passenger safety in case of an accident.
  • Motor power. The 488 is speeding over the road with its 600 or 700 hp engine. By boosting the fee, insurance firms are offsetting the risk of high-speed driving.
  • Reparations specialized. A European part specialist or a Ferrari specialist may be involved, leaving your insurance carrier’s budget with a greater hole.
  • A little body. Little body. Sports cars have smaller car body sizes than other automobiles and are more appealing for driving at high speeds. They might incur substantial damage during a larger vehicle crash.

How reliable is the Ferrari 488?

Both the GTB and Spider had recalls in their first years on the market. However, after several rounds of production, Ferrari has improved production. The information on the safety and reliability of these cars is little other than a few cautions.

  • Safety. Normally, Ferrari have no significant security classification, and the 488 has no further qualification by IIHS nor NHTSA. Please bear in mind the speed and performance of this car. Therefore, there would be a need for appropriate safety equipment.
  • Reliability. There is no confidence in the car. Recent Ferraris models are usually known as reliable cars.
  • Recalls. The 488 included many recalls in its first years, including a software problem which might not notify the driver about wear of brake drives. A flawed gas pipe that might lead to a fire was also inserted.

Bottom line

The Ferrari 488 is an expensive insurance car that extends to thousands over the national insurance average. At the top, you may choose a cup version of lower quality, and cars give reduced safety.

Visit our review of Ferrari GTC4 Car Insurance Rates for another car insurance review.