Lamborghini Car Insurance

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Joel Ohman
Founder, CFP®

UPDATED: Dec 16, 2018

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Here's what you should know...

  • Lamborghinis are luxury vehicles, so their insurance rates are much higher than average cars
  • Lamborghinis usually need more than just liability coverage, so be prepared to buy comprehensive and collision coverage as well to fully protect your investment
  • It costs between $10,000–30,000 a year to insure a Lamborghini

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Many people dream of owning a Lamborghini someday. If you’re one of the lucky ones who can afford one, then you’ll have to factor the price of car insurance into your overall investment.

With costs up to half a million dollars, Lamborghinis aren’t vehicles that you buy on a whim. Because of their exorbitant price tags, Lamborghinis also carry very high insurance premiums.

When you purchase a Ford minivan, you might spend $30,000 and pay about $1600 a year for your auto insurance, so you can imagine how much the price will increase when your new ride’s MSRP starts at $200,000.

How much you will pay for your Lamborghini car insurance will depend on many of the same factors that affect regular car insurance premiums like the following:

  • your age
  • where you live
  • your driving record
  • your credit score

The biggest difference is the starting rates when insuring Lamborghini as opposed to a standard vehicle.

Keep reading to learn more about the costs of Lamborghini car insurance, where to find the best deals and how you can save money on your premiums.  Be sure to entire your ZIP code above as well to compare free Lamborghini insurance quotes!

The Costs

As mentioned above, it is impossible to say for sure just how much you will pay because your rates will depend on various factors.

With that being said, you can expect to pay between $10,000 to $30,000 annually depending on which model of Lamborghini you drive.

Here are the current Lamborghini options available for purchase:

ModelVehicle TypeEnginePerformanceCost
UrusSuper Sport Utility Vehicle4.0-Liter V80-62 mph in 3.6 secondsStarts at $200,000
Convertible (Spyder)
610 CV aspirated V100-62 mph in 3.2 secondsStarts at $242,000
V120-62 mph in 2.9 secondsstarts at $399,500

Lamborghinis are often excluded from studies ranking car insurance costs because they are considered to be an outlier, which means the results are so different from other vehicles that their data would have changed the outcomes of the studies dramatically.

Another reason that Lamborghinis are excluded from studies is that many insurance companies won’t insure Lamborghinis, which reduces the amount of information available for studies.

The cost of Lamborghini insurance will be based on how much insurance you purchase as well. Most Lamborghini drivers won’t opt for liability only, which would reduce your rates dramatically.

Liability insurance doesn’t cover the cost of the Lamborghini if you are the cause of the accident.

That is why nearly every Lamborghini owner chooses to buy both comprehensive and collision coverage, setting their insurance rates at a much higher level.

You might think that Lamborghini car insurance is so expensive because of the cost of the car, but this is only one factor that the insurance company considers.

Because Lamborghinis are exotic cars, insurance companies assume certain things about the lifestyle of the person who owns the Lamborghini.

While this may not seem fair, it is no different from an insurance company charging more for a midrange sports car than they do for a minivan.

Statistics show that drivers who buy certain types of cars tend to drive certain ways, and let’s be honest. You don’t plan on just taking your Lambo for a 35mph trip to the supermarket.

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Where to Buy Lamborghini Car Insurance

Here is where things can get tricky. Not every insurance company sells specialty car insurance, and not every company that sells Lamborghini insurance will provide insurance for every type of Lamborghini available.

In fact, many insurance companies will only offer a max value on the vehicles that they insure.

What this means is that if you spent $240,000 on your new Lamborghini, and your insurance company’s max value is $100,000, you’ll be left to pay the balance out of pocket if your car is totaled.

If that is the case and you have an accident that causes a total loss, then you will have to pay the difference between your policy and the actual value of your vehicle out of pocket. Because of this, you may want to look for companies that offer luxury vehicle GAP coverage.

Fortunately, not every insurance company restricts your Lamborghini coverage in this manner.

You may find that your best option is to choose a specialty company that specializes in providing insurance for exotic cars.

Interestingly, these companies are often less expensive than a regular insurance company in terms of the costs for Lamborghini.

You may also find that in your area there are no regular companies that sell Lamborghini insurance. In this case, you may have to turn to a high-risk company for your insurance needs.

As mentioned above, insurance companies make certain assumptions about Lamborghini drivers, which may put you in a high-risk category in the state where you live.

As a quick note, when you are looking for Lamborghini car insurance, you need to make sure that the insurance company includes delivery of your Lamborghini to an authorized mechanic for repairs.

Many small towns don’t have Lamborghini-licensed mechanics.

Lamborghinis are specialty vehicles that require Lamborghini mechanics to work on them. You could void your warranty or even face having your car ruined if the right mechanic doesn’t work on it. What’s more, if the parts are used, it could devalue your vehicle.

Lamborghini Car Insurance Discounts

Saving money on your Lamborghini car insurance is much like saving money on any other type of vehicle. You can qualify for many of the same discounts that you could get if you were driving a less expensive car.

Discounts you could qualify for are:

  • Safe driver
  • Good student
  • College graduate
  • Anti-theft devices
  • Multiple policies (stacking)
  • Safety driving course
  • Secure parking (applies when you park your Lamborghini in a brick building with security)

Another way to reduce your Lamborghini car insurance premiums is by increasing your deductible. While most people opt for a $500 deductible for their cars, you can choose deductibles as high as $5,000 for your Lamborghini.

If it’s in your budget, doing so could save you thousands in the long-run.

Shopping around will also ensure that you save money on your Lamborghini car insurance. Although not every insurance company provides Lamborghini insurance, there are still enough to comparison shop.

Enter your zip code to compare Lamborghini car insurance quotes now!

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