Owning a Ferrari changes the insurance conversation entirely. This isn't a car a mainstream insurer prices confidently, and treating it like an expensive version of a standard sports car quote is one of the most common mistakes new owners make.
This guide is for general information only. Where vehicle marques, insurers or brands are named, references are based on publicly available information and general market context. Prestige Cover is not affiliated with, endorsed by, or representing any third-party brand named here.
Why standard insurers struggle to price a Ferrari properly
Mainstream insurers work from broad statistical models built around high-volume, everyday vehicles. A Ferrari sits far outside that dataset, low production numbers, specialist parts, and a very different theft and claims profile to almost anything a standard insurer typically prices. The result is often either a declined quote, an unreasonably high premium, or, more worryingly, cover that looks adequate on paper but is arranged by someone who doesn't actually understand the car.
A cheap Ferrari quote from an insurer with no genuine supercar experience is not a bargain. It's usually a sign the risk hasn't been assessed properly, which tends to surface at the worst possible moment, when you actually need to claim.
What genuinely drives the cost
- Model and specification , a 296 GTB, an SF90, and an older 458 carry meaningfully different premiums, driven by parts cost, repair complexity, and current market value
- Agreed value , Ferrari values can move significantly, both up and down depending on model and market, so an accurate, current agreed value matters more here than on almost any mainstream vehicle
- Security , tracking devices are frequently a condition of cover, not an optional extra, given the theft targeting certain models attract
- Storage , secure garaging is heavily weighted in underwriting decisions, more so than for most other vehicle categories
- Driver age and experience , younger or newer drivers face substantially steeper premiums, and some insurers simply won't offer cover below a certain age on higher-performance models
- Annual mileage , genuinely low, declared mileage is one of the more reliable ways to bring a quote down
Track days and performance driving
If track day use is part of how you actually use the car, this needs declaring specifically. Standard road cover does not extend to track driving, and a specialist Ferrari or supercar policy will typically offer this as an add-on or a separate arrangement rather than assuming it's automatically included.
Multiple Ferraris, or a wider collection
If a Ferrari sits alongside other high-value or performance vehicles, it's worth looking at a collection or multi-vehicle arrangement rather than insuring each car in isolation. Specialist private client insurers frequently price a coordinated collection more sensibly than several standalone policies arranged separately.
What to actually look for in an insurer
- Genuine, demonstrable experience specifically with Ferrari or comparable supercars, not just "performance vehicles" generally
- An agreed value process based on current market data, not a figure fixed once and left unreviewed
- Clear terms on track day use if that applies to you
- A claims team that can source genuine parts and approved repair specialists without unreasonable delay
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Request Information →Frequently Asked
Why is Ferrari insurance so much more expensive than standard car insurance?
It reflects specialist parts and repair costs, higher theft targeting for certain models, and the fact that mainstream insurers' statistical pricing models don't reflect this category of vehicle accurately.
Does Ferrari insurance require a tracking device?
Frequently yes. Many insurers treat a tracking device as a condition of cover for higher-value or higher-theft-risk models, rather than an optional extra.
Is track day driving covered under standard Ferrari insurance?
No, not automatically. Track use needs to be specifically declared, and is usually arranged as an add-on or separate cover through a specialist insurer.
Can young drivers get insurance for a Ferrari in the UK?
It's possible but significantly more expensive, and some insurers won't offer cover to very young or inexperienced drivers on higher-performance models at all.
Should I insure multiple high-value cars, including a Ferrari, under one policy?
It's worth considering. A coordinated collection or multi-vehicle arrangement through a specialist private client insurer is often priced more sensibly than several standalone policies.