Ferrari 488 Insurance.
Specialist Ferrari 488 Insurance.
Ferrari 488s can be difficult to insure because of their aggressive, high performance combined with the high value of models such as the Pista. At Elevate we arrange tailored insurance for Ferraris not available online. Ferrari insurance is based on several factors such as your driving experience in performance cars, how you intend to use your car, the car’s value, storage and security.
We are a small, boutique brokerage who spend time with our clients to understand their situation and present their details to our panel of insurers who specialise in supercars. At every renewal we review the market again to ensure you get the right coverage and the best price, we do not simply send out renewals from the existing insurer.
We are an independent specialist insurance brokerage with a highly skilled team that has been providing Ferrari Insurance for over 20 years. We offer an extensive range of supercar insurance policies, including Agreed Value or Extended New Car Replacement and Ferrari-approved repairs.
About the Ferrari 488.
The Ferrari 488 combines race car performance with the balance and agility of a Ferrari coupe.
The 488 owes its ancestry to the 360 Challenge Stradale, 430 Scuderia and 458 Speciale. The 488’s 3.9-litre twin-turbo V8 generates 661bhp for the GTB. The 711bhp for the Pista makes it very fast, 0-62mph in 2.85sec, 0-124mph in 7.6sec. F1 driver Charles Leclerc has been seen driving a custom Pista.
Specialist Ferrari insurance generally includes;
- Fully comprehensive covers whatever car you are driving, even those not owned by you.
- Any driver cover is available, so anyone can drive your cars comprehensively with your permission.
- Our Ferrari insurance policies include theft/damage to the vehicle’s audio/visual equipment
- An unlimited number of foreign trips with some insurers offering no time limits.
- A dedicated 24/7 client manager
- Immediate cover
- Discounts for limited mileage
- Use of Original Equipment Manufacturer (OEM) parts only
- Full UK & EU breakdown cover – including Home Start
- Premium discounts when you insure more than one vehicle
- Unlimited Glass replacement cover
- Annual or monthly payment
- A guaranteed value in the event your car is written off or stolen and not recovered. This will pay you a minimum of the agreed value with some insurers offering extended agreed value to cover you if the vehicle value has appreciated.
If you prefer please give us an outline of the cover required in the contact form here and we will call you back.
Insuring a Ferrari FAQs.
How much does it cost to insure a Ferrari?
Insurance premiums will depend on multiple factors such as the exact make/model of the car, age & driving experience, parking, security and estimated mileage. The value of Ferraris the technical expertise required to repair them, and the scarcity of replacement vehicles all combine to make insurance more expensive than standard vehicles. Elevate can advise on what cover is suitable and ensure you get the best cover at the best price.
Can Modified Ferraris be insured?
Many Ferraris have aftermarket modifications which makes online insurance very difficult to arrange. Specialist insurers accessed via brokers like Elevate will usually cover these cars.
Can young drivers insure a Ferrari?
Younger drivers would have to illustrate a strong driving record in performance cars and supercars. They would also need a clean license, no history of claims and be able to keep the car securely off the road.
How do I insure a Classic or Rare Ferrari?
Elevate regularly arranges insurance for these cars including £ multi-million vehicles such as the F40, F50, Enzo and Laferrari.
How much does a Ferrari 488 cost?
After 2019, Ferrari stopped production of the 488 but the used car market remains strong. A GTB can be purchased from £125,000 but a Pista is likely to be £250,000-£300,000.
We treat all of our clients as individuals. We have time to talk, we listen and understand what you need. We are here for clients throughout the insurance process, arranging customised cover, adapting policies as things change, reviewing the market every year and supporting them with any claims. Your personal advisor is available on a direct dial.