How Much Does Ferrari Insurance Cost in the UK?

How Much Does Ferrari Insurance Cost in the UK?

Ferrari insurance in the UK typically costs between £5,000 and £15,000+ per year. However, the actual premium depends on which model you own, your driving profile, and how you use the car.

Unlike standard car insurance, Ferrari policies require specialist underwriters who understand the risks and values involved. Most mainstream insurers won't touch them.

Ferrari Insurance Cost by Model

Different models attract vastly different premiums. Here's what you can expect:

• Ferrari California / Portofino: £5,000 to £8,000 annually for entry-level models with moderate performance
• Ferrari 488 GTB / F8 Tributo: £8,000 to £12,000 per year for mid-range sports cars
• Ferrari SF90 Stradale / 812 Superfast: £12,000 to £20,000+ annually due to extreme performance and value
• Classic Ferraris (Testarossa, F40, 250 GT, etc.): £10,000 to £25,000+ depending on rarity, agreed value, and collector status

The Ferrari Portofino sits at the more affordable end of the range, but even then, expect to pay several times what you'd pay for a high-end BMW or Mercedes.

What Affects Ferrari Insurance Costs?

Insurers assess Ferrari policies differently to normal cars. These are the main factors:

Model and Value

The more powerful and expensive the Ferrari, the higher the premium. A £180,000 Portofino costs less to insure than a £400,000 SF90 because the risk and replacement cost are lower.

Driver Profile

Age, experience, and claims history matter enormously. Most insurers won't cover Ferrari drivers under 30, and many require at least five years of claims-free driving. If you've written off a high-performance car before, expect steep premiums or outright refusals.

Mileage and Usage

Limited-mileage policies (typically 2,000 to 5,000 miles per year) are far cheaper than unlimited cover. If your Ferrari is a weekend car or kept in a collection, tell your broker. Daily drivers pay significantly more.

Security and Storage

Insurers almost always require:

• Secure garage storage overnight
• Thatcham-approved tracker (usually Category S5 or S7)
• Approved alarm and immobiliser systems

Some will also ask for CCTV or security patrols if you live in a high-risk area. Without these, you may struggle to get cover at all. For more on why some supercars are becoming difficult to insure, read Why Some Supercars Are Becoming Uninsurable in 2025.

Location

Your postcode has a major impact. Central London, Birmingham, and Manchester postcodes often carry higher premiums due to theft risk. Rural areas with low crime rates typically attract lower costs.

Cover Type

Most Ferrari owners choose agreed value cover, which guarantees a fixed payout if the car is written off. Market value policies are cheaper but can leave you underinsured if the car appreciates. Learn more about the difference between agreed value and market value policies.

Ferrari Insurance vs Other Supercars

Ferrari insurance is often more expensive than Porsche or Aston Martin cover, but comparable to Lamborghini policies. The brand carries a higher theft risk and parts costs are notoriously steep.

For comparison, Lamborghini insurance costs sit in a similar range, while Porsche 911 Turbo premiums are typically 20-30% lower.

How to Reduce Ferrari Insurance Costs

Even with high premiums, there are practical ways to bring costs down:

• Use a specialist broker: Mainstream comparison sites don't work for Ferraris. Specialist brokers have access to underwriters who understand the cars and the owners.
• Limit your mileage: If you only drive 3,000 miles a year, don't pay for 10,000.
• Improve security: Trackers, garages, and alarms all reduce premiums. Some insurers offer discounts if you store the car in a monitored facility.
• Multi-car policies: If you own several high-value cars, bundling them can reduce overall costs.
• Increase your excess: A higher voluntary excess lowers your premium, though make sure you can afford it if you claim.
• Build a claims-free record: Every year without a claim improves your profile and reduces premiums.

Can Young Drivers Insure a Ferrari?

It's extremely difficult. Most insurers won't cover drivers under 30 for Ferraris, and those that do charge prohibitive premiums. Even if you have the money, expect refusals unless you have significant supercar experience.

Some specialist brokers may consider drivers aged 25-30 with a perfect record and several years of high-performance car ownership, but premiums will be steep.

Do You Need a Tracker?

Yes. Almost every Ferrari policy requires a Thatcham Category S5 or S7 tracker. Without one, most insurers won't offer cover at all. Installation costs £400 to £800, with annual subscription fees of £200 to £400.

Can You Get Temporary Ferrari Insurance?

Yes. Some brokers offer short-term cover for:

• Test drives before purchase
• Track days or European tours
• Temporary loans or borrowing

Policies can run from one day to several weeks. Premiums are high on a per-day basis, but useful if you only need cover occasionally.

Is Ferrari Insurance Worth the Cost?

If you own a Ferrari, proper insurance is non-negotiable. The cost of repairs alone justifies the premium. A minor scrape can cost £10,000 to fix, and a serious accident can write off a car worth hundreds of thousands.

Agreed value cover is particularly important for appreciating models. If your F40 or 250 GT has doubled in value since you bought it, a market value policy won't pay out enough to replace it.

Get a Ferrari Insurance Quote

Ferrari insurance requires specialist knowledge and access to the right underwriters. Whether you own a Portofino, an 812 Superfast, or a classic Testarossa, our partners can help you compare policies designed for high-performance cars.

Get started by clicking the button on screen to compare quotes tailored to your Ferrari.