Ferrari LaFerrari car insurance rates

The LaFerrari is a limited-production hybrid hypercar that bests all other Ferraris in performance. Ferrari built only 499 LaFerraris, with another 200 built under the open-top Aperta version, each one costing well over $1 million. Built as a successor to the Ferrari Enzo, the LaFerrari rivals the highest-performing hypercars on the market. The Ferrari LaFerrari is a hybrid hypercar with sky-high insurance rates. The average insurance cost for the LaFerrari is around $1,926 a month, or $23,112 a year. Your final premium could be even higher if you opt for an agreed-value policy that will insure your LaFerrari for its full worth. Filter car insurance companies by your state to get a quote.

Insurance rates are calculated differently for luxury supercars like the LaFerrari, but are generally based on the following factors.

• Body type. The LaFerrari is built with one purpose: to get from 0 to over 200 mph as fast as possible — which ends up being about 15 seconds. This hybrid hypercar is made from carbon and looks like it can travel through space, which means you’ll be considered high-risk from your insurance company.
• Fuel. The LaFerrari is a hybrid that boasts a 6.3L V12 engine backed by an electric motor. With top speeds well over 200 mph, 950 horsepower and total torque at 664 lbs. per ft., the LaFerrari isn’t built for fuel economy. Its 15 mpg becomes much less when opening the car up for high performance, meaning the LaFerrari won’t get any discounts on fuel economy from your insurance company.
• Theft rates. With slightly under 500 LaFerraris ever built and at a price of $1.5 million you can be sure that each one is securely locked away. Insurance companies won’t be too worried about theft specifically, but the high price tag and limited numbers means the car is irreplaceable.
• Maintenance. You can expect to pay thousands of dollars a year for maintenance on the LaFerrari, which is normal for high-performance hypercars. As a result, insurance rates will soar, since replacement parts and labor on this limited production vehicle are ultra-expensive.
• Coverage. The LaFerrari is valued at well over $1 million and likely will appreciate with time, so you’ll probably want to find an agreed value insurance policy for it, where the insurance company will guarantee to cover it for a certain amount.
• Insurer options. Most standard insurance companies won’t insure the LaFerrari since the car is so expensive and typically needs to be insured on an agreed value policy. You’ll want to find an insurance company that specializes in luxury cars, such as AIG, Hagerty, Chubb, Nationwide, J.C. Taylor or Grundy.
• Warranty. Ferrari’s basic warranty is good for three years with no mileage restrictions and an option to extend for a longer period of time. It comes with roadside assistance, meaning you won’t need to add this to your insurance policy.

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Why is insurance so expensive for the LaFerrari?

The LaFerrari is a top-performing supercar that is built to reach top speeds with maximum acceleration. While these high-performance luxury cars aren’t usually driven for your daily commute, they require high-expense repairs and are irreplaceable as a limited-production vehicle. This means that any loss is likely to cost the insurance company a lot of money.

Additionally, these cars tend to appreciate in value over time, which means only a specialty insurance policy can properly cover it.

Does the LaFerrari qualify for discounts?

Because you’ll need to buy a specialty insurance policy for this luxury vehicle, you may not be able to get the standard vehicle discounts. But if your insurance company does offer vehicle discounts, you can expect the LaFerrari to qualify based on these features:

How reliable is the LaFerrari?

The LaFerrari is a hypercar built for speed and performance rather than safety and reliability. With only 499 ever built, it’s also never been officially tested for safety and reliability.

• Safety. The LaFerrari comes equipped with standard safety features such as airbags and seatbelt pretensioners.
• Reliability. The LaFerrari is known for its speed and power, not its reliability. Expect to pay thousands of dollars each year to keep the vehicle in tip-top shape.
• Recalls. Surprisingly, there have been recalls on the LaFerrari for fire concerns, despite its limited build. The open-air LaFerrari Aperta model was included in these recalls.

Bottom line

The LaFerrari lives up to its name and so far is the definitive Ferrari made by the Italian carmaker. Its powerful hybrid engine allows it to reach speeds of well over 200 mph in seconds and its price tag means your regular insurance company won’t touch the LaFerrari.

If the LaFerrari’s too rich for your blood, compare other car models and their insurance costs.

Frequently asked questions about the LaFerrari

• How will a claim play out for the LaFerrari, since it's a limited production model?

  Since there was only 499 LaFerraris made, it’s unlikely yours would be replaced in the event it gets totaled. In most claims involving unique cars that can’t be replaced, an agreed value policy ensures that you’ll receive the full dollar amount that you bought the car for, but you won’t get a new LaFerrari.

• Does a luxury car insurance policy cover my LaFerrari in other countries?

  It might, but you’ll need to double-check with your specialty insurance company. Standard auto policies only cover you in the US and its territories plus Canada, so you’ll need to find an international insurance company that will cover your car wherever you take it.

• Why is the LaFerrari a hybrid if it's built for high speeds and performance?

  Hybrid vehicles aren’t only built for better fuel economy, they are also commonly built in high-performance supercars to provide extra power. An electric battery can provide extra torque that can boost the acceleration of these supercars.

Written by

Andrew Flueckiger

Writer

Andrew Flueckiger is a licensed insurance agent and Certified Insurance Counselor with experience in insurance and finance. A graduate of Indiana University, Andrew contributes a wealth of knowledge and experience to Finder. When Andrew isn’t writing, reading or practicing insurance, he can be found spending time with his family and playing the guitar. See full bio

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Andrew has written 21 Finder guides across topics including:

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