| Author |
Message |
Troy W Scrapchansky (Au_fan)
New member
Username: Au_fan
Post Number: 2
Registered: 5-2003
| | Posted on Thursday, May 22, 2003 - 4:39 pm: | |
John -
Thanks for the advice. I took it and added the car to my current auto policy. In the end, the cost was about the same as what Hagerty and Leland wanted anyway, without any restrictions. The check was sent out Fed-X today, so now I get to sit back and wait for my car to arrive. |
Ricky Nardis (Rickyn_f355)
Member
Username: Rickyn_f355
Post Number: 358
Registered: 8-2002
| | Posted on Wednesday, May 21, 2003 - 10:27 pm: | |
scott, call mike rosenberg at (212) 563-5800. A bunch of the guys here use him. I got my Chubb insurance through him. Tell him ricky nardis told you to call. |
Scott DeGhetto (Scott63)
New member
Username: Scott63
Post Number: 41
Registered: 4-2003
| | Posted on Wednesday, May 21, 2003 - 9:55 pm: | |
I tried to get a quote from Chubb today for a 355 and was told that they do not insure 355's because it is considered a "race car". My response was that all Ferrari's are race cars.... |
Terry Springer (Tspringer)
Member
Username: Tspringer
Post Number: 516
Registered: 4-2002
| | Posted on Wednesday, May 21, 2003 - 8:17 pm: | |
Mine is currently with Grundy/Chubb. I am probably going to dump it and go with insurance through JJ Best.
Grundy / Chubb restrictions are simply ridiculous. The policy restrictions state that the car may only be driven for club events, parades, exhibitions or "other functions of public interest". Just a pleasure drive by yourself in the countryside.... NOT covered.
Those of you with Grundy or Chubb... read your policy exclusions carefully. The wording leaves TONS of leeway for the insurance company to determine whether your use was allowed. They appear to have positioned themselves to easily deny a claim. Its enough of a question mark that I am leaving them. |
Mike Fisher (Mikef)
Junior Member
Username: Mikef
Post Number: 196
Registered: 11-2001
| | Posted on Wednesday, May 21, 2003 - 7:48 pm: | |
I have Hagerty and highly recommend them. Reasonable rates(have 5 collector cars with them) and have paid a couple large claims with no rate increases. One was $38,000.00 for fire to my Ferrari and the other was about $3,500.00 for my Mercedes which rolled over me and then down the hill into the trees! They have mileage limits, but they are reasonable. |
John Striegel (John328)
New member
Username: John328
Post Number: 16
Registered: 1-2003
| | Posted on Wednesday, May 21, 2003 - 7:11 pm: | |
Troy,
It's not a snowmobile, you will still need comp & coll coverage during the winter months. The bank will require this, plus if the car is stolen or your garage catches on fire, you will want the coverage. Your best bet is to add it to your current auto policy with out any mileage or use restrictions. You don't real have a 'collector car', so I would stay way from that type of insurance program.
John328 |
Troy W Scrapchansky (Au_fan)
New member
Username: Au_fan
Post Number: 1
Registered: 5-2003
| | Posted on Wednesday, May 21, 2003 - 4:08 pm: | |
This is a very timely topic for me. I just bought my first f-car ('88 328 GTS) and this is my first posting. Insurance is the last hangup in getting my car delivered from California (as I am financing the vehicle), and I thought I was set with Grundy. They had quoted a price and were sending out the paperwork. Called back when I hadn't received the paperwork, and they didn't seem to have me in their computer. When I gave them all my information again, I was told that they would not insure an '88 as it wasn't old enough. The only way they would insure it is if it were part of a 'collection'. Does anyone know what is going on here? There seem to be others that have similar cars insured through Grundy.
Anyway, now I begin the search for insurance again. American Collectors quoted me $833/year but will only give $300K liability and maximum of 2500 miles/year. I'd really prefer a company that understands that the car will be in the garage from mid-November until May and won't be charging me for it.
Thanks,
Troy |
Mr. Doody (Doody)
Intermediate Member
Username: Doody
Post Number: 1095
Registered: 11-2001
| | Posted on Wednesday, May 21, 2003 - 2:36 pm: | |
Chubb has nice overall umbrella stuff that will tie to your under-/un-insured motorist coverage. Even in the most auto-insurance-hostile state in the union, MA :-)
Doody |
Marq J Ruben (Qferrari)
Member
Username: Qferrari
Post Number: 367
Registered: 2-2002
| | Posted on Wednesday, May 21, 2003 - 2:18 pm: | |
I have Chubb through Grundy Worldwide. $900/year. No deductable, no mileage restrictions, and a 'better than average' agreed value. I find them very good to deal with but no claim experience here (thank God!).
Was with Great American Collectors but had a bad experience with them misrepresenting a policy to me. Changed to Chubb/Grundy immediately. |
Crusing (Crusing)
Junior Member
Username: Crusing
Post Number: 74
Registered: 10-2002
| | Posted on Wednesday, May 21, 2003 - 11:16 am: | |
I have found it amazing how many people are unaware of how at risk they actually are with their UIM coverage. It is usually tied to your liability limits so you cannot increase your UIM without increasing your Liability coverage.
I have Chubb, costs me $800/yr with 1MM coverage no restrictions and an agreed value of $40K. It is the best I have found. |
David Stoeppelwerth (Racerdj)
Junior Member
Username: Racerdj
Post Number: 190
Registered: 1-2003
| | Posted on Wednesday, May 21, 2003 - 8:22 am: | |
CRUSING-Thankyou for the heads up. That's what is so great about this forum is advise like you put forth. I have a 2M umbrella but just now realize it won't do any good for the uim claim over 100k. |
Ricky Nardis (Rickyn_f355)
Member
Username: Rickyn_f355
Post Number: 347
Registered: 8-2002
| | Posted on Wednesday, May 21, 2003 - 7:30 am: | |
steve, i have $1MM UIM with Chubb. |
Bart Duesler (The_bart)
Junior Member
Username: The_bart
Post Number: 66
Registered: 1-2003
| | Posted on Wednesday, May 21, 2003 - 12:43 am: | |
State Farm - So. Calif.
550
$1,100 a year |
Jason Fraser (Jfraser)
Member
Username: Jfraser
Post Number: 370
Registered: 3-2001
| | Posted on Wednesday, May 21, 2003 - 12:22 am: | |
I went with Progressive, and they insured me even though the car has UK tags (in California) and I have a UK driving license....I pay $3600 per year (no mileage restriction), but given the above, at least they gave me a policy.....My preference would have been Chubb. I wouldn't touch Leland...Not only was the policy ridiculously restrictive, I got the ditinct impression, they would try every weasel trick possible to avoid paying out on a policy....No thanks!! |
Steven J. Solomon (Solly)
Member
Username: Solly
Post Number: 473
Registered: 6-2001
| | Posted on Wednesday, May 21, 2003 - 12:08 am: | |
I'm in Westchester county, NY. Clean driving record, no other drivers. Shopped around a lot, Leland was cheapest but very restrictive. Went with Hagerty. About $4,000 a year for the 360 spyder (agreed value 250,000), with 300k liability, and $900 a year for my Dino (agreed value $90,000). Very few restrictions, 5,000 miles a year, easy to deal with. i just renewed with them after shopping around again.
Also have a 5M umbrella that kicks in after the 300,000 liability, but never realized the uninsured/underinsured motorist problem. Thanks to you lawyers and brokers for mentioning it.
What's the max you can get in uninsured motorist insurance? Is it expensive? |
P. Thomas (Ferrari_fanatic)
Junior Member
Username: Ferrari_fanatic
Post Number: 245
Registered: 4-2003
| | Posted on Tuesday, May 20, 2003 - 11:20 pm: | |
Nationwide will only insure in California. I have been with them for almost 10 years. I added my 1998 355 and they said it was on the non-insurable list. After I told them I already got a quote from them, prior to buying the car, they said, "Oh yeah, in California you can insure based on the cars value. (Versus model, year, VIN which they could not match to anything and my car is NOT a Euro). |
Brad Taylor (Btaylor74)
New member
Username: Btaylor74
Post Number: 6
Registered: 5-2003
| | Posted on Tuesday, May 20, 2003 - 9:40 pm: | |
I looked into Leyland for my 328. If you plan to do any driving other than pleasure driving or club events forget it. You go for a quick ride to the local Dairy Queen, you could be out of luck. I'm sticking with Hagerty. |
todd spencer (Todd)
New member
Username: Todd
Post Number: 2
Registered: 5-2003
| | Posted on Tuesday, May 20, 2003 - 7:47 pm: | |
Thanks for all the responces. It's been quite helpful.
Todd |
arthur chambers (Art355)
Intermediate Member
Username: Art355
Post Number: 1715
Registered: 6-2001
| | Posted on Tuesday, May 20, 2003 - 7:02 pm: | |
Nationwide, 500k coverage, about 800/year. They provide real insurance, and when I've had a claim, made it very easy to like them. I'm a plaintiff's lawyer, and I've seen just how bad most carriers are. These guys work at doing the right thing.
Art |
Steven R. Rochlin (Enjoythemusic)
Member
Username: Enjoythemusic
Post Number: 439
Registered: 4-2002
| | Posted on Tuesday, May 20, 2003 - 6:01 pm: | |
Hi,
Called MANY insurance companies and REFUSED to keep my car to ANY driving/parking limits. She is "born to run free". "Give me land, lots of land under starry skies above. Don't fence me in."
$1,400/yr full coverage they offer inc flat bed towing (no major milage limit for towing). i have some tickets for ALLEGED speeding.
Enjoy the Drive,
Steven R. Rochlin
|
Lee Pierce (Leepierce)
Junior Member
Username: Leepierce
Post Number: 98
Registered: 1-2003
| | Posted on Tuesday, May 20, 2003 - 5:52 pm: | |
Nationwide. Mine's like $300/6 months registered as an antique car I think, with full replacement value of like $24K.
I should know this. |
John Striegel (John328)
New member
Username: John328
Post Number: 15
Registered: 1-2003
| | Posted on Tuesday, May 20, 2003 - 4:56 pm: | |
I AM AN INSURANCE BROKER, I FULLY AGREE WITH THE LAST 2 POSTS. IF YOU CAN AFFORD A FERRARI 100K OF LIABILITY COVERAGE IS CHUMP CHANGE. AND DON'T SKIMP ON THE UNINSURED MOTORIST COVERAGE, IF YOU CAN AFFORD TO GIVE SOME POOR SLOB 1,000,000. FOR AN ACCIDENT YOU CAUSED, I THINK YOU DESERVE AT LEAST THE SAME AMOUNT FOR YOUR SELF. BUY THE EXCESS UNINSURED MOTORIST COVERAGE ON YOUR UMBRELLA POLICY.
JOHN |
Ricky Nardis (Rickyn_f355)
Member
Username: Rickyn_f355
Post Number: 345
Registered: 8-2002
| | Posted on Tuesday, May 20, 2003 - 4:33 pm: | |
exactly right, and the insurance companies dont tell u that its cheap to upgrade from 100K to 500K or $1M because they are better off if they dont have the liability. I thought allstate was great until i noticed my 30,000 limits...now with Chubb i have $1MM across the board. |
Crusing (Crusing)
Junior Member
Username: Crusing
Post Number: 73
Registered: 10-2002
| | Posted on Tuesday, May 20, 2003 - 4:23 pm: | |
David (racerdj):
Just a heads up... if you only have 100K liability protection and something happens you are only covered for the 100K. I will assume you have a huge umbrella otherwise you are hanging out in the wind.
The only problem with your set up with an umbrella is if someone hits you and they don't have any insurance (they usually don't) you will only get 100K (your UIM is only 100K). Not much if you are in a wheelchair. I'm a lawyer and see seriously injured people with way to little protection. I try to tell as many people as possible to up their UIM coverage as this is much more likely to be needed over liability (usually people who are responsible enough to be able to afford a Ferrari do not get into a lot of accidents). Something to think about. Interestingly it usually is not very much to increase from 100K to say 500K or 1M.
|
Arnaldo Torres (Caribe)
Member
Username: Caribe
Post Number: 495
Registered: 2-2001
| | Posted on Tuesday, May 20, 2003 - 2:58 pm: | |
If you are is California or Arizona, try 21st century Insurance. I pay $512/6 mos. for all maximuns (1990 TR) and I have more tickets than I care to say. |
bob snow (Resnow)
Junior Member
Username: Resnow
Post Number: 91
Registered: 5-2001
| | Posted on Tuesday, May 20, 2003 - 2:14 pm: | |
Ellington & Associates, in partnership with Chubb, sponsor several FCA events and have been very competitive and give excellent service. Try www.ellingtonandassociates.com or call them at 800-616-5510. |
Andreas Forrer (Tifosi12)
Intermediate Member
Username: Tifosi12
Post Number: 1043
Registered: 10-2002
| | Posted on Tuesday, May 20, 2003 - 1:47 pm: | |
I looked at Leland, but they require, that your vehicle is in a locked up place to which only the owner has access. A bit exaggerated and limited in their thinking IMHO. Leland gave me two other companies to try, but one required, that the car is at least 25 years old and the other, that I have second primary car.
So I stayed with Allstate, where the premium is actually not much more than on my previous Golf GTI. |
Lawrence Coppari (Lawrence)
Member
Username: Lawrence
Post Number: 614
Registered: 4-2002
| | Posted on Tuesday, May 20, 2003 - 12:54 pm: | |
Try USAA. |
Ricky Nardis (Rickyn_f355)
Member
Username: Rickyn_f355
Post Number: 344
Registered: 8-2002
| | Posted on Tuesday, May 20, 2003 - 12:44 pm: | |
i pay $2,000 a year in Westchester County, NY, $1MM across the board...$1,000 decuct and agreed value set for my 355 at $90K...clean driving record...27 yrs old....4 cars on the policy
|
DJParks (Djparks)
Junior Member
Username: Djparks
Post Number: 234
Registered: 2-2003
| | Posted on Tuesday, May 20, 2003 - 12:44 pm: | |
The Hagerty insurance I have is also 100k/300k/100k
DJ |
DJParks (Djparks)
Junior Member
Username: Djparks
Post Number: 233
Registered: 2-2003
| | Posted on Tuesday, May 20, 2003 - 12:42 pm: | |
I went with Hagerty. 550 a year/full coverage, 500 deductable for accident and damage, roadside assistance network with approved flatbed towing. Can't use the car as primary transportation but no mileage restriction either if I remember correctly. The best part is the 'AGREED VALUE COMPENSATION' clause.
This will change depending on what you drive and what your record is like.
I have a clean record and I drive a 25 year old 308.
DJ |
David Stoeppelwerth (Racerdj)
Junior Member
Username: Racerdj
Post Number: 183
Registered: 1-2003
| | Posted on Tuesday, May 20, 2003 - 12:38 pm: | |
I use State Farm for all my vehicles. The 360's semi-annual premium is $648.92 100k/300k Liability,100k property damage and medical, 100 deductable comp, 1000 ded collision. Indianapolis Area Accident free and mulitcar discount applied. |
Andrew (Enzo250gto)
Junior Member
Username: Enzo250gto
Post Number: 84
Registered: 2-2002
| | Posted on Tuesday, May 20, 2003 - 12:30 pm: | |
Try Grundy
http://www.grundy.com/ |
Eric Eiland (Eric308gtsiqv)
Member
Username: Eric308gtsiqv
Post Number: 824
Registered: 11-2001
| | Posted on Tuesday, May 20, 2003 - 12:05 pm: | |
Another very popular one, especially in the sport / collector car market, is http://www.lelandwest.com/
I currently use State Farm. |
Jay P. Ross (Eilig)
Junior Member
Username: Eilig
Post Number: 145
Registered: 8-2001
| | Posted on Tuesday, May 20, 2003 - 11:51 am: | |
Todd -- Good question especially for your first post. I need to research this as well... So here's a question for 360 owners: How much to you pay for insurance premiums, and who is your insurance carrier? And also, please include whether your live in rural, urban, or suburban locale, as this obviously tends to affect rates.
Thanks in advance for this info! |
Crusing (Crusing)
Junior Member
Username: Crusing
Post Number: 72
Registered: 10-2002
| | Posted on Tuesday, May 20, 2003 - 11:42 am: | |
I agree and I'm on the west coast. |
Ricky Nardis (Rickyn_f355)
Member
Username: Rickyn_f355
Post Number: 343
Registered: 8-2002
| | Posted on Tuesday, May 20, 2003 - 11:37 am: | |
I think most here in the northeast use Chubb. I have them and they have decent prices for lots of coverage. |
todd spencer (Todd)
New member
Username: Todd
Post Number: 1
Registered: 5-2003
| | Posted on Tuesday, May 20, 2003 - 11:31 am: | |
I've have had a chance to read the ferrarichat posts and threads recently and found them very interesting,informative and lively to say the least. Obviously, this is my first post and i'll try not to screw it up. I did a search on ferrari insurance and still am not clear which company to use. I need some advice.
thanks, todd |