If you are like most people, you have probably dreamed about owning a Ferrari for a long time. Young celebrities walk off car lots with them every day and they havent had very long to imagine life with this luxury vehicle. You however, have likely worked a lot harder for your Ferrari and it is important to you to properly protect the investment of time, dreams, and hard earned money.

If you bought the 2011 Ferrari California, the least expensive 2011 model, youll set your bank account back a cool $192,000, plus taxes and fees. Moving up to the next model, the Ferrari 458 Italia, will cost you about $225,325. Or, if you are really into power, speed, and luxury, youll go for the Ferrari 529, a coupe that comes with 670 HP and a 12-cylinder engine, for a brisk $410,000. These numbers alone should convince you that this is an investment worth protecting.

Buying Ferrari Car Insurance is Your First Step

When it comes to protecting your investment, the first step is to buy adequate, quality Ferrari car insurance. Dealers will require you to have proof of insurance before youll be allowed to drive your new automobile off the lot. Not only is it state law, it is common sense to insure a car as valuable as this one. Ideally, you should research your insurance needs long before signing the final paperwork on your new car.

When you buy a Ferrari, you have to consider all the factors that go into setting auto insurance rates – the high cost of the vehicle; the fact that Ferraris are imported and parts will be harder to come by; how much you will drive your Ferrari; and the level of insurance you choose.

How Much Ferrari Car Insurance Should You Buy?

Typically, with luxury brands, you should opt for the higher levels of liability coverage to not only protect your car, but also to protect the life that you have built. In tort law states, other drivers are likely to see the owner of a Ferrari as a winning lottery ticket and are more likely to pursue legal action if there is an accident between you and them. This means you need to choose a solid insurance company with a strong history of handling claims fairly.

Ultimately, you need to make sure you purchase sufficient coverage to replace the vehicle; protect yourself from lawsuits; and meet any other needs you might have, including racing insurance, collectors insurance, or an equivalent replacement vehicle to use while your Ferrari is being worked on.

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