Insuring an exotic car isn't just a more expensive version of ordinary car insurance. The main difference is how the car's value is set. Get that right and a claim is simple. Get it wrong and you could be paid far less than the car is worth.
Key numbers
- Typical cost
- Roughly $4,000–$5,300 a year for full coverage on a Lamborghini or Ferrari, per MoneyGeek averages.
- Key choice
- Agreed-value cover from a specialty insurer, or actual cash value from a standard one.
- Biggest discounts
- Limited mileage, secure garaging and a clean record.
- When selling
- Keep cover until payment clears and the car is collected.
Agreed value, stated value and actual cash value
- Actual cash value. Standard policies pay what the insurer decides the car was worth at the time of the loss, after depreciation. On an exotic, that number can be well below the market price.
- Agreed value. You and the insurer agree the car's value upfront. If the car is a total loss, that's what you're paid. This is the standard choice for exotics and collector cars.
- Stated value. It sounds similar but isn't. The insurer may pay the stated amount or the actual cash value, whichever is lower. Read the wording carefully.
What it costs
| Brand | Full coverage, per year | Per month |
|---|---|---|
| Lamborghini | $4,068 | $339 |
| Ferrari | $5,313 | $443 |
Averages from MoneyGeek, updated August and September 2026, for a 40-year-old driver with a clean record driving about 12,000 miles a year. Your quote will differ.
See the model-by-model figures in the Lamborghini and Ferrari insurance guides.
Specialty insurer or standard insurer?
Specialty and collector-car insurers focus on cars that are driven sparingly and stored securely. They typically offer agreed-value policies, and their prices can be lower than a standard insurer's for the same car, in exchange for conditions such as:
- An annual mileage limit
- Secure, enclosed storage
- A separate daily-use vehicle in the household
- A clean driving record and a minimum age
If you drive the car daily or want no restrictions, a standard insurer or a high-net-worth insurer may suit you better. Get quotes from both kinds.
How to pay less
- Choose a mileage plan that matches how much you really drive.
- Keep the car garaged and fit a tracker if the insurer rewards it.
- Raise your deductible to a level you can comfortably afford.
- Review the agreed value every year so you're neither under- nor over-insured.
- Ask about multi-car and multi-policy discounts.
Insurance when you sell or ship the car
Keep your policy active until the buyer's payment has cleared and the car has been collected. If the car travels by transporter, ask the carrier for proof of cargo insurance and its coverage limit before pickup. Cancel or move your policy only after the sale is complete.
See How selling works for the rest of the steps.
Common questions
How much is exotic car insurance?
It depends on the car and the driver. As a guide, MoneyGeek's averages for full coverage are about $4,068 a year for Lamborghinis and $5,313 for Ferraris, for a 40-year-old driver with a clean record.
What is the difference between agreed value and stated value?
Agreed value pays the amount you and the insurer agreed upfront. Stated value may pay the lower of the stated amount and the actual cash value.
Do I need a specialty insurer for a supercar?
Not necessarily, but it's worth a quote. Specialty insurers offer agreed-value policies and can be cheaper if you accept mileage and storage conditions.
Is my car insured while it's being transported to a buyer?
Check before pickup. Ask the carrier for proof of cargo insurance, and keep your own policy active until the sale is complete.
Sources
- MoneyGeek: Lamborghini car insurance costs (updated August 31, 2026)
- MoneyGeek: Ferrari car insurance costs (updated September 7, 2026)
Figures were checked against these sources in October 2026. Prices change, so confirm before relying on them.