Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Jul 30, 2020

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Here's what you need to know...

  • The Ferrari California is an expensive, exotic sports car that the average American cannot afford
  • Ferrari California car insurance will be much higher than the average rates.
  • Average insurance costs for a high-end sports car will depend on a variety of factors but are usually $648/mo on average.

So, you’re on the search for Ferrari insurance. You’re asking, “How much is insurance on a Ferrari in California?” or “Ferraris: how much do they cost?” Before we begin, let’s take a look at some facts about car insurance costs for the Ferrari in California.

Finding the right Ferrari California insurance coverage can be complicated, just like finding the best auto insurance companies. For the sake of simplicity, we will go through facts about the Ferrari California step by step so you can figure out if it is the right car for you in terms of Ferrari insurance cost per month.

In the meantime, By entering your ZIP code in the box above you’ll be able to find rates in your area for Ferrari California car insurance.

Car Insurance Rates for the Ferrari California

The Ferrari California is a top-of-the-line sports car unsuitable for the garage of the average middle-class American.

Needless to say, driving a high-priced vehicle means you can expect insurance rates to be thousands of dollars annually.

Remember that there are a number of factors that affect car insurance rates, and they are combined to calculate their risk.

Among those factors are a vehicle’s safety features, safety ratings, and the tendency of drivers to use a given vehicle in a particular manner. Before we move on, here is a video review of the California.

Let’s move on to liability rates for Ferrari car insurance.

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What are the liability car insurance rates for the Ferrari California?

Liability insurance is what pays for the other person’s damages in the case of an accident where you are determined to be at fault. Bodily injury liability pays for damage to their person, whereas property damage liability pays for any damage to their possessions.

Here is a video further explaining the difference.

Let’s see a table showing liability coverage averages across the United States.

Average Annual U.S. Liability Car Insurance Rates
StatesAverage Annual Liability
Insurance Rates
North Dakota$282.55
Iowa$293.34
South Dakota$289.04
Wyoming$323.38
Maine$333.92
Vermont$340.98
Idaho$337.17
Kansas$342.33
North Carolina$357.59
Nebraska$349.07
Wisconsin$359.84
Indiana$372.44
Montana$387.77
Arkansas$381.14
Alabama$372.57
Ohio$376.16
New Hampshire$393.24
Tennessee$397.73
Missouri$399.41
Virginia$413.12
Illinois$430.54
Minnesota$439.58
Hawaii$458.49
Mississippi$437.38
Oklahoma$441.57
New Mexico$462.21
California$462.95
West Virginia$501.44
Utah$471.26
Pennsylvania$495.02
Arizona$488.59
Colorado$477.10
South Carolina$497.50
Texas$498.44
Kentucky$518.91
Countrywide$516.39
Alaska$547.34
Georgia$490.64
Oregon$553.43
Washington$568.92
Massachusetts$587.75
Maryland$599.48
District of Columbia$628.09
Connecticut$633.95
Nevada$647.07
Rhode Island$720.06
Louisiana$727.15
Michigan$722.04
Delaware$776.50
New York$784.98
Florida$845.05
New Jersey$865.55
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Let’s move on to comprehensive and collision coverage.

What are the comprehensive and collision car insurance rates for the Ferrari California?

Collision coverage helps you in the case of, you guessed it, a collision. Comprehensive is a bit more complex. It helps you in the case where your car is damaged in a situation that is not a collision. Think sleet or a tree branch falling onto your car.

Here’s a video explaining collision coverage.

And here is a chart showing collision coverage averages through the United States.

Average Annual U.S. Collision Car Insurance Rates
StatesAverage Annual Collision
Insurance Rates
South Dakota$200.10
Iowa$207.10
Idaho$209.00
Wisconsin$209.93
Oregon$212.47
Minnesota$214.02
Nebraska$223.50
North Dakota$227.44
Indiana$237.19
South Carolina$247.62
Maine$249.00
Washington$250.13
Florida$251.30
Kansas$251.46
Ohio$252.21
Utah$254.41
Montana$254.90
Kentucky$255.33
Arizona$259.31
Missouri$259.65
Colorado$263.36
North Carolina$264.58
Virginia$264.70
New Mexico$267.48
Wyoming$270.48
Vermont$278.38
New Hampshire$281.70
Illinois$284.92
Tennessee$290.39
Nevada$293.78
Delaware$296.60
Hawaii$297.75
Oklahoma$298.21
Alabama$299.10
Countrywide$299.73
Mississippi$302.96
Arkansas$304.87
Pennsylvania$307.31
West Virginia$319.10
Georgia$320.45
Maryland$331.72
Texas$340.51
Connecticut$348.70
New York$358.45
Massachusetts$358.68
Alaska$360.18
California$364.56
New Jersey$365.23
Rhode Island$377.06
Michigan$383.21
Louisiana$391.03
District of Columbia$449.27
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Now, here is a video further explaining comprehensive coverage.

And, finally, here is a table showing the average rates for comprehensive coverage throughout the United States.

Average Annual U.S. Comprehensive Car Insurance Rates
StatesAverage Annual Comprehensive
Insurance Rates
Oregon$89.66
Maine$96.66
California$99.29
Hawaii$100.09
New Hampshire$103.03
Washington$104.11
Utah$106.57
Florida$110.12
Idaho$110.78
Ohio$112.74
Delaware$113.23
Indiana$115.02
Nevada$116.79
Illinois$117.98
Vermont$118.31
Rhode Island$122.17
North Carolina$123.00
New Jersey$123.18
Connecticut$126.02
Wisconsin$126.34
Massachusetts$128.92
Virginia$129.89
Kentucky$130.15
Pennsylvania$132.01
Tennessee$135.62
Countrywide$138.87
Alaska$141.08
Alabama$146.28
Maryland$146.77
Michigan$147.02
Georgia$153.61
New York$156.66
Colorado$158.34
South Carolina$165.38
Missouri$166.34
New Mexico$166.89
Iowa$171.58
Minnesota$173.04
Arkansas$183.36
Arizona$184.20
Texas$186.70
Mississippi$194.74
West Virginia$195.04
Montana$199.87
Oklahoma$201.56
Nebraska$206.24
Louisiana$208.59
Wyoming$222.86
North Dakota$227.64
South Dakota$228.59
District of Columbia$230.25
Kansas$230.65
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Now, let’s see how the price tag of the Ferrari California can affect insurance premiums.

How the Value of the Ferrari California Affects Car Insurance Rates

It’s pretty simple, the more expensive your car, the more expensive your premiums. This is because, in the event of an accident of any form, your insurer will have to shell out more money to replace parts or have the vehicle fixed. This is why a Ferrari insurance quote from a Ferrari insurance agency may be quite high.

Let’s see how expensive the Ferrari California is.

If you were to buy a Ferrari California from a dealer, you would be facing a typical listing price of a whopping $152,408.

Keep in mind the Ferrari California is a sports car and these are the most expensive vehicles on the market. Even if you were to buy a 2017 model used, you will still be paying about $130,000.

Expect premiums that are far higher than your state’s average for collision, comprehensive and liability coverages. This is especially true of the quotes for Ferrari California insurance for young drivers from Ferrari insurance brokers.

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Car Insurance Claims and Losses on the Ferrari California

Up next we will go into loss statistics for various forms of coverage. These loss statistics will be in comparison to other vehicles of the Ferrari California’s class, which is a midsize sports car.

We have retrieved this information from the Insurance Institute for Highway Safety.

What are the loss statistics for bodily injury and property damage liability car insurance claims for the Ferrari California?

Because of a lack of testing, the IIHS does not have information on bodily injury and property damage loss statistics for the Ferrari California.

What are the loss statistics for comprehensive and collision car insurance claims for the Ferrari California?

Due to a lack of testing, the IIHS does not have information on loss statistics for the Ferrari California for comprehensive coverage.

For collision coverage, however, the Ferrari California T convertible is a whopping 225 percent above comparable vehicles in its class. This is substantially worse than average.

What are the loss statistics for PIP and MedPay for the Ferrari California?

Again, the IIHS does not have loss statistics in regards to Personal Injury Protection and MedPay for the Ferrari California.

Safety Ratings of the Ferrari California

The question of safety ratings is just one of many factors that make it nearly impossible to determine the Ferrari California’s average cost of insurance.

In the United States, the two agencies most trusted for highway safety ratings are the Insurance Institute for Highway Safety (IIHS) and the National Highway Traffic Safety Administration (NHTSA).

According to US News and World Report neither entity has tested the 2010 or 2011 models of the California, so there are no ratings for insurance companies to look at.

Why the Ferrari California hasn’t been tested is unclear.

It could be that since the market for such vehicles in the U.S. is limited, the manufacturer doesn’t see the need to make sure the California is subjected to the safety ratings tests.

Another possible reason for the lack of testing could be that the two organizations are not interested in investing their time and resources testing a car that will be purchased by so few people.

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What is the size and class of the Ferrari California?

As was seen earlier, the IIHS labels the California a midsize sports car.

The class of the Ferrari California is what is known as a Grand Tourer (S). A grand tourer is a type of sports car (which is what the “S” stands for) that is designed to travel at high speeds and long-distances.

It has since been replaced with the Ferrari Portofino, which is a similar vehicle in most ways. Here is a video comparing the two.

Let’s move on to the California’s safety.

How does the safety of the Ferrari California compare to other vehicles?

Even without safety ratings, car insurance companies do look at the equipment and features of a particular car when determining risk.

The Ferrari California car comes with some standard Ferrari safety features along with a couple of extra features that are rather impressive. Furthermore, you can get safety features car insurance discounts.

Among the standard features, the vehicle has front and side airbags, traction control, stability control, an ABS braking system, parking sensors on both the front and rear, and a backup camera. Does having anti-lock brakes affect insurance coverage?

One of the most impressive safety features is a roll bar normally hidden from view that deploys in the event of an accident.

We don’t know of any other exotic sports car on the market with a similar feature.

It should be noted that car insurance for the Ferrari California is extremely high in comparison to the standard car for a variety of reasons. First and foremost, consider the overall value of the vehicle.

When you’re paying hundreds of thousands of dollars for a car, you can expect premiums for collision and comprehensive coverage to reflect that.

If your Ferrari California is stolen or totaled in an accident, your insurance company must pay to have it replaced, so the high replacement cost will be reflected in your premiums.

From a safety standpoint, we also must consider the likelihood that Ferrari owners will drive less safely than their minivan counterparts.

The very nature of exotic sports cars suggests that most drivers will have a tendency to speed, take curves recklessly, and engage in other behaviors that insurance companies frown upon.

As a result, almost every exotic sports car implies a higher risk to insurance companies, resulting in higher insurance premiums.

Finally, don’t forget that insurance is a business just like anything else. Insurance companies know they can charge their wealthier clients more money.

It is of note that U.S. rates may be different from Ferrari insurance costs in the UK, Ferrari insurance costs in Australia, Ferrari insurance costs in Canada, so on and so forth.

If you do own a Ferrari California why not start searching for competitive car insurance rates by entering your ZIP code into the box below to get an insurance quote from a Ferrari insurance group.

Frequently Asked Questions: Car Insurance Costs for the Ferrari California

Do you still have some questions about Ferrari insurance? Look below for answers.

#1 – How much does a Ferrari cost?

How much is the average Ferrari? A Ferrari can run you anywhere from $100,000 to $300,000 per car depending on the model, including the Ferarri 648.

#2 – How much does it cost to service a Ferrari?

A typical service check for a Ferrari costs anywhere from $1,200 to $2,000.

#3 – What is the insurance for a Ferrari?

The average cost to insure a Ferrari is $5,325 for a coverage period of six months. The average cost of a Ferrari itself is about $200,000, hence the high premiums.

#4 – What insurance company will cover a Ferrari?

Only four companies will provide a quote for a Ferrari. These are State Farm, USAA, American Family, and Farmers.

#5 – How much is insurance on a Bugatti?

Insurance is anywhere from $2,000 to $4,000 per month for a Bugatti.

#6 – How much is insurance on a 2019 Lamborghini?

This insurance cost for a 2019 Lamborghini will run you about $570 per month.

#7 – Does Geico insure Ferraris?

No, Geico does not insure any type of Ferrari.

#8 – Why is the Ferrari California so cheap?

The Ferrari California is so inexpensive, by comparison to other sports cars, because it is considered to be the “starter” Ferrari.

#9 – How much is a Ferrari California car and what is the cost of a Ferrari California from 2011?

The 2017 Ferrari California costs $202,723. The 2011 Ferrari California cost was $192,000 based on MSRP.

#10 – Why is car insurance so expensive in California?

Car insurance is so expensive in California primarily because of the state’s high population density.

References:

  1. https://www.iihs.org/ratings/insurance-losses-by-make-and-model
  2. http://www.nhtsa.gov
  3. http://usnews.rankingsandreviews.com/cars-trucks/Ferrari_California/Safety/