Insurance for your Lamborghini can be expensive if you have a poor driving history and have a number of penalty points and history of claims. However, there are certain characteristics of high performance cars which make them subject to high premiums as follows:
Being high-end luxury vehicles, the cost of replacing key car parts for a Lamborghini such as alloys, wing mirrors, convertible tops is more expensive that your standard vehicle. Thatcham states that there are 23 common parts and the more expensive it is to replace these areas, the higher your insurance.
So not only are the parts more expensive than your average Ford Focus but there is less accessibility to specialist mechanics that can replace parts and do repairs. As a result, replacement parts may need to be imported and fixed by specialists and your insurance premium is therefore more expensive to cover this.
Risk of accident
With turbocharged engines and being able to reach 0-60 in less than 4 seconds, the likelihood of being involved in an accident is greater than a less sophisticated car and engine. With this risk in mind, insurance companies have to charge more in the event of making a claim. If you damage another person’s vehicle or cause injury, your insurance should be able to cover any compensation to pay for their vehicle and any medical bills.
Greater risk of theft
With the status and reputation that comes with a Lamborghini, there is a greater likelihood of your vehicle being targeted by thieves. Your insurance will be able to replace your car or at least contribute towards it, but considering the cost of replacing a Lamborghini compared to standard car, your monthly insurance is therefore always going to be higher than average.