Maserati Insurance: Who's Got You Covered?

Owning a Maserati is a dream for many, but it's important to remember that insuring one can be a costly affair. The make and model of the car, its safety ratings, repair and replacement costs, and the driver's history are all factors that influence the insurance rate. While Maseratis are not commonly targeted by thieves, their high price tag makes them expensive to insure. The cost of insurance also depends on the level of coverage desired, with most Maserati owners opting for more than just the minimum liability coverage. To find the best insurance policy for your Maserati, it is recommended to shop around, compare quotes, and consider specialty insurers of exotic vehicles and sports cars.

Luxury auto insurance

Maserati is an Italian luxury car brand that has been around since 1914. The cars are known for their elegance, power, performance, and speed. With a price tag of over $100,000, Maseratis are a significant investment, and proper insurance coverage is essential to protect that investment.

Insurance Coverage for Maseratis

Maseratis are not only expensive to purchase but also costly to insure. The high price tag means that they are expensive to repair or replace, which increases insurance costs. Additionally, Maserati owners typically choose more than just the minimum liability coverage, opting for comprehensive and collision coverage, which further increases insurance costs.

Factors Affecting Insurance Costs

Several factors influence the cost of insurance for a Maserati:

• Safety ratings: The safety ratings of a vehicle can impact insurance costs. While Maseratis are not crash-tested due to their high value, they do include standard safety features such as anti-lock brakes and stability control. Some models also have rear-facing cameras and forward collision warning systems.
• Claims frequency and potential for damage: The number of claims filed and the dollar loss experienced by drivers of a certain make of car can influence insurance rates. According to the Insurance Institute for Highway Safety, the Maserati Ghibli 4-door has a higher-than-average rate of collision and comprehensive claims.
• Age, driving record, and demographics: These factors can significantly impact insurance costs. The more often you drive, the greater the risk of filing a claim. A violation-free record can help keep insurance premiums low.
• Location: Where you live can affect insurance costs. Living in a congested area or a state with higher insurance rates can increase your premiums.

Specialty Insurance for Luxury Vehicles

Due to the high value and unique characteristics of Maseratis, it may be worth considering a specialty insurance policy or a provider that specializes in luxury vehicle protection, such as Chubb or PURE. These providers have the expertise to understand the specific needs and risks associated with insuring a luxury vehicle.

Tips for Finding Affordable Maserati Insurance

• Shop around: Compare quotes from multiple providers to find the best rates and coverage options.
• Discounts: Ask about potential discounts, such as low-mileage discounts, secure garage storage discounts, good student discounts, multi-car discounts, bundling discounts, and military discounts.
• Improve your driving record: Maintaining a violation-free record can help lower your insurance premiums.
• Driver safety technology: Utilizing driver safety technology or signing up for a driver safety mobile app offered by some insurance providers can result in discounts on your premiums.

Sports car insurance

Sports cars are often associated with speed, power, and luxury, and these attributes can make them more expensive to insure. This is certainly the case with the Italian luxury sports car brand Maserati, which is famed for its sleek, aggressive styling and powerful performance.

The Cost of Insuring a Maserati

Maseratis are expensive to buy, with prices ranging from $73,000 to $140,000, and this high price tag is reflected in the cost of insurance. The average insurance cost for a Maserati is estimated to be at least $2,945 per year, and possibly as high as $3,500 or $4,000 compared to similar vehicles. This is because the cost of repairs and replacements for a Maserati is high, and owners will likely want more than just the minimum liability coverage.

Factors Affecting the Cost of Insurance

There are several factors that influence the cost of insurance for a Maserati, or any other sports car. These include:

• The make and model of the car: The brand, model, and trim level of a car will all impact the cost of insurance. More luxurious add-ons will result in higher premiums.
• The safety rating of the car: Generally, the better the safety ratings of a vehicle, the lower the price of insurance. The 2020 Maserati Ghibli, for example, received a rating of "Good" in its four "Crashworthiness" categories, which may help to reduce insurance costs.
• The value of the car: The higher the value of the car, the higher the insurance costs.
• The location of the owner: The state in which the owner lives can affect insurance costs, as some states have higher insurance rates and more congested areas mean a higher likelihood of accidents.
• The owner's driving record: The more often the owner drives, and the more violations they have, the higher the insurance premium will be.

Ways to Save on Maserati Insurance

While it is important to have adequate insurance coverage for a Maserati, there are a few ways to save on insurance costs:

• Shop around: Compare quotes from multiple insurance providers to find the best rates and coverage options.
• Take advantage of discounts: Ask about good student discounts, multi-car discounts, bundling discounts, and military discounts.
• Install safety features: Confirm that the vehicle has the latest safety technology and features, which can help to reduce the cost of the premium.

Insurance Coverage for a Maserati

When insuring a Maserati, there are several types of coverage that owners may want to consider, including:

• Bodily injury liability: This covers the cost of any physical harm caused to someone else in an accident, including medical payments and lost wages.
• Property damage liability: This covers repairs to another person's vehicle, house, or building if the Maserati is involved in an accident.
• Medical payments/personal injury protection (PIP): This covers personal medical bills resulting from an accident, including ambulances, doctor visits, medication, and funeral expenses.
• Uninsured or underinsured motorist coverage: This protects the Maserati owner if they are in an accident caused by a driver without insurance or with insufficient insurance.
• Collision coverage: This helps to pay for repairs to the Maserati if it collides with another vehicle or object.
• Comprehensive insurance: This protects against damage to the Maserati from incidents other than collisions, such as theft, natural disasters, and storms.
• Glass coverage: This covers the cost of replacing the windshield or other broken glass in the Maserati, which can be expensive.
• Gap insurance: This is recommended if the owner owes more on the Maserati than it is worth, as it will cover the difference if the car is declared a total loss.

In summary, insuring a sports car like a Maserati can be costly, but by understanding the factors that influence insurance rates and taking advantage of available discounts, owners can find the best coverage options to protect their investment.

Safety ratings

The safety ratings of a vehicle are a key factor in determining insurance costs. Generally, the better the safety ratings, the lower the insurance costs.

The Insurance Institute for Highway Safety (IIHS) has tested the safety of the Maserati Ghibli, a large luxury car/4-door sedan. The 2014-24 models were put through a moderate overlap front test, a side crash test, a roof strength test, and a head restraint and seat test. The tests showed that the driver's survival space was maintained very well, with minimal intrusion into the driver's space, and all leg and foot injury measures were low. The Ghibli was also put through a side crash test, which showed that the driver and rear passenger dummy's heads were protected by the side airbags. The IIHS gave the 2020 Ghibli ratings of "Good" in its four "Crashworthiness" categories and a rating of "Basic" in its "crash avoidance & mitigation" category.

The Maserati Levante does not have any safety ratings available at this time. However, it is important to note that safety scores reflect crash test standards and ratings when the car was new and may not be comparable to current safety ratings.

Maserati vehicles are equipped with various safety features that can help reduce insurance costs. These include anti-lock brakes, stability control, rear-facing cameras, and forward collision warning systems. Some models also offer optional features such as blind-spot detection, lane departure warning, and lane departure prevention.

In addition to safety ratings and features, insurance companies consider the likelihood of theft and the cost of repair or replacement when determining insurance rates for Maseratis.

Repair and replacement costs

Maseratis are considered luxury and sports cars, and their insurance falls under the category of specialty or luxury auto insurance. The make and model of the car are significant factors in determining the insurance rates. The higher the price of the car, the higher the insurance rates will be. The safety ratings of the car also play a role in insurance costs; cars with better safety ratings tend to have lower insurance costs.

Maserati offers various models, including the Quattroporte, GranTurismo, Ghibli, Levante, and Grecale. The specific model and its features, such as trim packages and add-ons, will impact the insurance rates. The Ghibli, for example, has a higher-than-average rate of collision and comprehensive claims, which can drive up insurance costs.

In terms of maintenance and repairs, Maseratis are known to be expensive. On average, they cost about $1,600 per year for preventive maintenance, compared to $650 for the average vehicle. This high maintenance cost is due to the need for specialized parts and mechanics familiar with the brand. For example, an oil change can be costly because Maseratis require fully synthetic oil.

Some common issues with Maseratis include clutch malfunction and transmission problems. A standard clutch replacement can cost around $4,000, while transmission repairs can be incredibly expensive. To manage these costs, warranty protection is essential. New Maseratis come with a four-year/50,000-mile new car limited warranty, which covers most repairs during this period. However, once the factory warranty expires, you may want to consider an extended warranty or a prepaid maintenance plan to help manage the costs of maintaining and repairing your Maserati.

Overall, the repair and replacement costs for Maseratis are significant due to the high value of the vehicles, the specialized nature of repairs, and the potential for costly issues. It is important for owners to consider their insurance coverage and maintenance plans carefully to ensure they can manage the financial burden of owning and maintaining these luxury vehicles.

Specialist insurers

Owing to their high price tag, Maseratis are expensive to insure. Their costliness means they are also costly to repair or replace, which increases the insurance cost. Maserati owners will likely choose more than just the minimum liability coverage, which will also increase insurance costs.

You will need a high-end provider willing to underwrite your Maserati. While a few big-name providers offer coverage, you may need to look into specialist insurers of exotic vehicles and sports cars. This type of coverage is sometimes called luxury auto insurance.

The make and model of your car will determine your insurance rates. The make is the brand, like Maserati or Ferrari. The model is the specific type of car within that brand.

Maserati offers the following models:

• Maserati Quattroporte
• Maserati GranTurismo
• Maserati Ghibli
• Maserati Grecale
• Maserati MC20

Frequently asked questions