Car Insurance Costs for the Ferrari California

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Joel Ohman
Founder, CFP®

UPDATED: Nov 3, 2016

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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
  • For an unknown reason, the Ferrari California 2010 and 2011 models have not been tested for safety ratings
  • Average insurance costs for a high-end sports car will depend on a variety of factors

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 insurance companies base their premiums on a number of factors that 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.

By entering your ZIP code in the box above you’ll be able to see online car insurance quotes almost instantly.

What are the safety ratings for the Ferrari California?


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

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 else does an insurance company look at with the California?

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

The Ferrari California comes with some standard safety features along with a couple of extra features that are rather impressive.

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.

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.

Why does insurance for the Ferrari California cost so much more than the average car?


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.

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?

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