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The average price for a Ferrari 488 Spider is $868 a month—$10,416 a year. Your actual costs may be more or lower depending on your record, the number of miles you drive in a year, and other things.
How do I compare insurance for the Ferrari 488?
In both models, the 488 versions have high average insurance prices. But the 488 Spider is a wonderful priest due to its convertible top. You may also consider expanding the coverage to cover your insurance payments more extensively.
- Body type. The Ferrari 488 may be used in a gym (GTB) (Spider).
- Fuel. This car is fuel efficient because of its V8 engine, however it is less efficient than certain sports vehicles. The 488 is classified at 18 mpg by combined urban and road.
- Maintenance. As expected with any Ferrari, maintenance and repair expenses are expensive. What you receive is a maintenance plan that provides you a break of 7 years with these additional pocket costs.
- Coverage. This sports car was very affectionately invested. Then consider adding luxury car insurance or additional insurance to standard insurance. Search coverage: agreed value, large loan/lease gap for the uninsured/underinsured driver.
- Options insurance. Not all insurance companies are going to offer coverage, but there are many options when you look around.
- Warranty. Ferrari provides an unlimited 3-year mile guarantee. Remember that seven years of maintenance plan.
Why is insurance so expensive for the Ferrari 488?
As a speed sports car, the Ferrari 488 GTB is costly to insure. Due to the V8 engine power, it is quite dangerous to accidents. This Italian luxury automobile contains expensive components and repairs for insurance.
Does the Ferrari 488 qualify for discounts?
This car includes a number of safety features that might qualify for insurance discounts:
- 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?
This car may be on the road or track. Therefore, its insurance costs remain much above average. For additional reasons, it costs more to insure:
- Sales price. The 488 gives you 200,000 dollars or 300,000 dollars depending on the model you choose. This means that it is more expensive to fix and replace in an accident.
- Requirements for coverage. Consider premium vehicle insurance or add-ons? Greater coverage is the same as a higher price.
- Cabinet top. Your hardtop provides you with a higher premium should you opt to use a Ferrari Spider. Convertibles make occupants less secure in the case of an accident.
- Motor power. The 488 zips around the road with its 600 or 700 hour power unit. Insurance companies handle the danger of excessive speed driving by raising the rate.
- Reparations specialized. Special European parts or a Ferrari specialist, which leaves a bigger hole in your insurance firm’s purse, may be included.
- Small body. Small body. Sports cars have smaller rates than other automobiles and make driving more attractive at greater speeds. It might possibly cause more damage in an accident with a bigger automobile.
How reliable is the Ferrari 488?
Both GTB and Spider had recalls in their early years on the market. However, after many rounds of manufacturing, Ferrari improved its output. The safety and reliability data on such cars are limited in addition to a few reminders.
- Safety. Ferraris does not generally have leading security agency ratings and the 488 is no exception. Note that this car is intended for performance and speed. Adequate safety equipment would thus be required.
- Reliability. There is no confidence in the car. Recent Ferraris models are well known as trustworthy cars.
- Recalls. In his first few years, the 488 had numerous reminders to the driver of the wearable breaks, including a software malfunction. Another was a badly coated petrol line, which might lead to a fire.
The Ferrari 488 is expensive automobile insurance which is thousands more than regular insurance. The cup version is offered at a lower price and car safety features are reduced.
Check out our review of Ferrari 488 GTB Car Insurance Rates for one more car insurance review.