Ferrari 488 GTB Car Insurance Cost 2025

Insuring a Ferrari 488 GTB typically costs $3,358 per year on average. However, the actual cost can vary based on factors like your age, the car’s model year, and other details. You can use the quote tables below to get a personalized estimate of your insurance costs.

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Updated: 26 April 2025
Written by Bob Phillips
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Insuring a Ferrari 488 GTB is considerably more expensive than insuring standard vehicles, primarily due to its high value, performance capabilities, and specialized repair costs. The average annual insurance cost for a Ferrari 488 GTB is approximately $3,358, with Plymouth Rock offering the lowest rates at around $755 per year.

However, premiums can vary significantly based on factors such as the model year, driver’s age, location, driving history, and chosen coverage levels. For instance, older models like the 2022 Ferrari 488 GTB may have average premiums as high as $6,044 annually. To obtain the most accurate and competitive rates, it’s advisable to compare quotes from multiple insurance providers tailored to your specific circumstances.

How Much Does Ferrari 488 GTB Car Insurance Cost?

Typically, Ferrari 488 GTB drivers pay an average of $3,358 per year for car insurance.

While Plymouth Rock’s rate provides a useful starting point, it’s important to understand that car insurance costs can vary significantly due to various factors. These factors include your location, driving history, car age, and the specific coverage options you choose. Maintaining a clean driving record often results in lower premiums, while a history of accidents or traffic violations can increase your rates.

Additionally, living in a bustling urban area typically leads to higher insurance costs compared to quieter rural areas. The type of coverage you select also impacts your premium—comprehensive coverage, which includes both comprehensive and collision coverage, will be more expensive than basic liability coverage.

At Insuranceopedia, we’re here to help you shop around and compare quotes from different insurance providers to ensure you find the best deal.

Average Insurance Cost Of Ferrari 488 GTB By Model Year

Model Year Average Premium
2023 Ferrari 488 GTB $960
2022 Ferrari 488 GTB $6,044
2021 Ferrari 488 GTB $3,509
2020 Ferrari 488 GTB $3,639
2019 Ferrari 488 GTB $2,597
2018 Ferrari 488 GTB $2,214
2017 Ferrari 488 GTB $5,070
2016 Ferrari 488 GTB $1,399

2023 Ferrari 488 GTB Insurance Rates

The average annual insurance cost for a 2023 Ferrari 488 GTB is $960. However, Plymouth Rock offers the cheapest rates, averaging $755 per year.

Insurance Provider Average Annual Cost
Dairyland $1,165
Plymouth Rock $755

2022 Ferrari 488 GTB Insurance Rates

The average annual insurance cost for a 2022 Ferrari 488 GTB is $6,044. However, Unitrin offers the cheapest rates, averaging $1,663 per year.

Insurance Provider Average Annual Cost
Unitrin $1,663
Metropolitan $3,211
National Farmers Union P $3,464
Farmers $3,513
Travelers $3,559
Mercury $6,098
Direct General Insurance $10,071
Safe Auto $16,772

2021 Ferrari 488 GTB Insurance Rates

The average annual insurance cost for a 2021 Ferrari 488 GTB is $3,509. However, State Farm offers the cheapest rates, averaging $717 per year.

Insurance Provider Average Annual Cost
Home State Ins Group $2,745
Nationwide $1,054
Metropolitan $4,152
Safe Auto $10,833
State Farm $717
Mercury $1,551

2020 Ferrari 488 GTB Insurance Rates

The average annual insurance cost for a 2020 Ferrari 488 GTB is $3,639. However, Nationwide offers the cheapest rates, averaging $973 per year.

Insurance Provider Average Annual Cost
Nationwide $973
American Family $1,111
Hastings Mutual Insurance Co $1,982
Allied $2,576
Victoria $2,590
21st Century $4,362
Safe Auto $5,345
Farmers $5,357
Travelers $5,923
Metropolitan $6,170

2019 Ferrari 488 GTB Insurance Rates

The average annual insurance cost for a 2019 Ferrari 488 GTB is $2,597. However, Hanover offers the cheapest rates, averaging $1,142 per year.

Insurance Provider Average Annual Cost
Direct General Insurance $5,270
Metropolitan $2,686
Mercury $2,594
Travelers $2,613
Nationwide $1,274
Hanover $1,142

2018 Ferrari 488 GTB Insurance Rates

The average annual insurance cost for a 2018 Ferrari 488 GTB is $2,214. However, State Farm offers the cheapest rates, averaging $726 per year.

Insurance Provider Average Annual Cost
Mercury $1,277
Farmers $2,516
Home State Ins Group $2,404
Safe Auto $6,546
State Farm $726
Travelers $1,775
Unitrin $1,860
Nationwide $907
Metropolitan $1,913

2017 Ferrari 488 GTB Insurance Rates

The average annual insurance cost for a 2017 Ferrari 488 GTB is $5,070. However, Plymouth Rock Assurance offers the cheapest rates, averaging $1,416 per year.

Insurance Provider Average Annual Cost
Plymouth Rock Assurance $1,416
Nationwide $3,620
Unitrin $4,260
Travelers $4,607
Hanover $11,447

2016 Ferrari 488 GTB Insurance Rates

The average annual insurance cost for a 2016 Ferrari 488 GTB is $1,399. However, Virginia Farm Bureau offers the cheapest rates, averaging $834 per year.

Insurance Provider Average Annual Cost
Virginia Farm Bureau $834
Allstate $843
Victoria $1,000
Travelers $1,190
Unitrin $1,516
Permanent General $1,558
Bristol West $1,658
Nationwide $1,747
Mercury $1,810
Metropolitan $1,844

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Are Ferrari 488 GTBs Expensive To Insure?

Insuring a Ferrari 488 GTB is notably more expensive than average vehicles due to its high value and specialized repair costs. The average annual insurance premium for a Ferrari 488 GTB is approximately $3,358, equating to about $279 per month. However, premiums can vary significantly based on factors such as the model year, driver’s age, location, and driving history. For instance, a 2022 model may cost around $6,044 annually, while a 2023 model might be as low as $960 per year. Specialty insurers like Grundy and Hagerty often offer tailored policies for exotic cars, which can sometimes be more cost-effective than standard insurers. To obtain the most accurate and competitive rates, it’s advisable to compare quotes from multiple insurance providers.

Cheapest Car Insurance Companies For A Ferrari 488 GTB

Among these, State Farm offers the lowest monthly premium at $60, making it the most cost-effective option. On the other hand, Metropolitan has the highest monthly premium at $346 among the listed companies. These rates are influenced by various factors, including the driver’s profile, location, and coverage options. It’s advisable to compare quotes from multiple providers to find the best rate tailored to individual needs.

Insurance Company Average Monthly
State Farm $60
Nationwide $88
Mercury $130
Unitrin $139
Metropolitan $346

Common Ferrari 488 GTB Insurance Discounts

Discounts are a great way to reduce your car insurance costs. While each insurance provider may offer different discounts, some of the most common ones you can check your eligibility for include:

  • Multi-policy: Bundle your home and auto insurance policies with the same provider to often receive a discounted rate.
  • Pay annually: Some insurers offer savings for customers who pay their premium in one lump sum instead of spreading it out over monthly payments.
  • Defensive driving: Completing defensive driving courses from a certified institution can make you eligible for lower premiums.

There may be additional discounts available depending on your situation, so it’s a good idea to speak with your insurance agent. They can help you identify which discounts you qualify for.

Our Methodology

To calculate average car insurance costs, Insuranceopedia collected thousands of quotes from top auto insurance providers. The sample profile used was for a 40-year-old male driver purchasing full-coverage insurance with coverage limits of $100,000 in property damage liability, $100,000 in bodily injury liability, and a $1,000 deductible. Keep in mind, however, that these figures may not reflect your own specific results, as insurance rates can vary based on individual factors.

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FAQs

Do You Need Insurance Before You Can Purchase A Ferrari 488 GTB?

Yes, you will need to provide proof of insurance before driving your Ferrari 488 GTB off the dealership lot. The best approach is to purchase a policy first, then inform your insurance company that you are about to acquire the vehicle, rather than getting insurance directly through the dealership.

How Can You Get The Cheapest Insurance For Your Ferrari 488 GTB?

The best way to find the most affordable insurance rates for your Ferrari 488 GTB is by shopping around and comparing quotes from different auto insurance companies. Luckily, Insuranceopedia makes it easy by allowing you to compare quotes from multiple providers directly on our website.

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