Insurance is very important in the world of cars. However, because of the high purchase cost of Lamborghinis, the maintenance cost is equally high, and definitely, the cost of insurance.
A couple of insurance companies regard insuring a Lamborghini as very risky and hence, avoid it. However, insurance is important and necessary for expensive vehicles like the Lamborghini.
That’s why we have done a lot of research on companies that have taken up the responsibility of insuring Lamborghinis despite the huge cost of these exotic super cars.
While it is impossible to give a fixed price because prices vary and most insurance companies have not made the information public, we would provide you with an average figure that you can work with.
How Much Does it Cost to Insure a Lamborghini?
Getting an accurate figure for insuring a Lamborghini is almost impossible until you get to the company you want to insure with.
This is because there is no fixed price for any of the models as they are all dependent on different factors. However, the monthly average for recent models of Lamborghini is about $500 a month and can go up to $5,000 annually.
The insurance rate for each model is usually linked to the cost of the car, and so you can expect that the cheaper models like the Lamborghini Urus that costs about $200,000 would attract a lesser insurance cost compared to the Lamborghini Aventador that costs about $450,000.
Generally, the insurance of Lamborghini vehicles is usually up to 3 times the cost of insuring a standard car.
Factors that could decrease or increase your insurance rate have been listed and you can get an estimate quote for your specific details and model online.
Before getting into those factors, you can check out this list to see the average insurance rates for some of the most common Lamborghini models according to companies in the US.
Please note that these figures are subject to change, depending on all the factors listed further below.
As mentioned earlier, these figures can either be more or less. These costs were arrived at by comparing quotes from different non-gender biased insurance companies for a driver with a perfect record and over 25 years old. You can also check for other models to get the average cost applicable to you.
Why Lamborghini Insurance is so Expensive
As we mentioned earlier, many insurance companies do not bother insuring Lamborghinis. However, for some, it’s not only because they are expensive. The reason those companies refuse to insure is the same reason companies that insure do so at very high prices.
One obvious reason why the insurance costs of Lamborghini cars are expensive is that the car itself is expensive.
One of the cheapest and recent Lamborghini model is the Urus which is about $211,321. This means that it will be very expensive for insurance companies to repair or replace.
The insurance rates for Lamborghinis are also high because they are fast cars, and so have higher accident rates.
Insurance companies understand that drivers can be tempted to enjoy the speed this car offers to the maximum and also understand the risk that comes with that, so they have to include that risk in the cost of insurance as well.
Another reason insurance companies either back off or charge high is that this type of vehicle fits into the category of a high target vehicle. This means that they are prone to be stolen or damaged by vandals.
These basic reasons account for why insurance companies run away and those that do not are forced to consider all these and include the risks into their insurance cost.
Factors That Increase or Reduce Your Insurance Cost
The amount you get to pay for insuring a Lamborghini can increase or decrease based on your age.
Some car insurance companies entirely restrict drivers aged under 25 and will not grant insurance to them, while those that allow insurance for lesser aged drivers do so at more expensive rates.
For example, an 18-year-old insuring a Lamborghini might pay up to 120% higher than a 35 to 40-year-old person.
- Car Model
Your car model is another factor that affects how much you will be required to pay for your Lamborghini insurance.
Some models are more expensive than others. For example, insuring the 2019 Lamborghini Huracan costs an annual average of about $4,632 whereas the 2019 Lamborghini Urus costs an average of $2,112 annually.
These figures are based on typical and ideal American situations assuming that all other factors such as age, driving record, etc., are met.
- Year of Manufacture and Insurance Company
Asides from the model, the year of manufacture plays a vital role, and also beyond the year, different insurance companies value the models in different ways.
Giving an average insurance price based on year of manufacture is almost impossible because there are different factors to consider for each Lamborghini.
However, you can check out this comparison of different company’s annual prices based on the model year (2019-2021). You can also check for older models here!
- Payment Method
Another thing that determines the amount you pay for your Lamborghini insurance is your intended method of payment.
Drivers who opt for monthly payment methods usually have to pay a higher percentage than those who make outright or annual payments.
This is a huge factor when it comes to insurance. This is because some states are rougher, busier, and more dangerous than others. It means that the chances of accidents differ based on location.
- Insurance Type
There are different types of insurance available for Lamborghinis. There is the standard insurance and another type of insurance called Collector Car Insurance.
The latter is more advisable for expensive cars like the Lamborghini because such cars appreciate, rather than depreciate, in value.
This type of insurance, therefore, involves you and the concerned company having an agreed value that would be paid in the case of any incident. With this, you can save up to 40% of what a standard plan would have been.
Your Questions & Answers
How much is insurance on a 2019 Lamborghini?
The cost of a 2019 Lamborghini, like all other models, depends on all the factors listed earlier. However, it’s an average of $2,500 across the existing 2019 models.
The 2019 Lamborghini Huracan is an average of $4,632, the Lamborghini Urus is an average of $2,112, and the Lamborghini Aventador is an average of $2,516.
What is the most expensive car to insure?
When talking about the most expensive car to insure, the available figure is only provided as a minimum because like we have said, getting an accurate figure is quite impossible without the exact details of the person that wants to insure.
However, the car that takes the number one spot by that standard is the Maserati Quattroporte starting at a minimum of $2512 for a six-month premium and $5,024 for a year.
It is followed by the Audi R8 with a minimum of $2,284 for a six-month policy.
While it might not be possible to immediately know the cost of insuring your Lamborghini until you perform a search specific to your location and other mentioned factors.
What you should know is; the more expensive your Lamborghini is, the more expensive your insurance cost will be. However, insurance is not something you can easily pass by, so the earlier you check and start the process, the better for you.
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