Insuring a Lamborghini

If you have a real need for speed and plenty of money to spare, you can't go wrong with a Lamborghini. These are rides are prized for their gorgeous designs, superior performance and break-neck speeds. These sleek sports cars are definite status symbols, but they are works of art as well. Because they are so expensive, they are also pricey to insure. If you can afford to buy one, you should also be able to afford its premiums. Of course, price isn't the only thing that affects insurance costs. Several other factors come into play as well. The relative safety of a car has an impact on the amount of its premiums; its theft rate has an impact as well. Learn more about the factors that affect the cost to protect the average model by checking out the information below.

How the Company Began

People are often surprised to learn that the founder of the brand, Ferruccio Lamborghini, didn't start out making automobiles. In fact, the enterprising Italian originally made his fortune by producing tractors. In post-war Italy, tractors were hard to find. Lamborghini realized this and figured out how to produce tractors out of easy-to-find parts and materials. After making a fortune, he turned his attention to automobiles. He'd always had a passion for car racing, so he decided to produce a vehicle that would outshine a Ferrari. His auto-making venture was officially founded in 1963. The automobiles were wildly popular for some time but experienced a slump during the 1970s. The 1980s saw the company's fortunes revive again. Volkswagen acquired the company in 1998, and the company continues to make flashy, high-performance vehicles.

Safety has an Impact on Premiums

It makes sense that safety comes into play when a provider is calculating premiums. Lamborghinis are not designed to be safe. They are designed to be fast and powerful. As a result, they aren't considered to be especially safe. There are no crash test ratings available, so all bets are off. No official numbers are available about the average cost to protect one of these automobiles, but the annual price is surely at least $2,500 or so. A huge part of the reason for that is the brand's not-so-great reputation for safety.

Theft Rates Affect Rates

Vehicles that are apt to be stolen tend to have higher policy rates. Think about it, though: People who own these sports cars generally have the means to keep them safely locked away. As a result, these cars aren't stolen too often. You won't find a single Lamborghini model on the list of the most-stolen vehicles, which is compiled by the National Insurance Crime Bureau. If you can swing the cost to buy one, you should be able to keep it out of harm's way.

Outrageous MSRPs Send Rates Soaring

These cars are extremely expensive, and that's the main reason that they are so costly to cover. The Gallado, which is considered to be a rather affordable model, costs between $180,000 and $280,000. That information alone makes it clear that these cars are beyond the financial reach of the vast majority of people. The Aventador has an average selling price that hovers right around $400,000. With price tags like these, there's no way that you're going to spend less than $3,000 to cover one of these high performance machines annually.