Hey guys.... I've started researching insurance on a 2007 F430 and I've found this is going to be a bit difficult to "shop around". I ran in to this same issue with my 911 Turbo's. I had been with Nationwide for many years and when I bought my first Turbo, they wouldn't insure it and recommended Hagerty. I then moved all my vehicles over to Farmers. Fast forward to yesterday.... I called Farmers and they won't insure a Ferrari in South Carolina. Next I called a buddy who sells Liberty Mutual and was able to get a quote from him. In the past Liberty has always been higher than most for me so I've never gone with them. Next I tried State Farm and they weren't too far off from Liberty. My question to you is.... Who do you use for car insurance? Foot notes: ------------ Libery: $2,200 per year (roughly for F430 only) State Farm: $2,300 per year (roughly for F430 only) Limits: 100/300 Deductible: 500/500 Thanks Drew
Geico accepted coverage on my 911 Turbo and then my F430 without hesitation. I classified both as pleasure vehicles.
try chubb, they are one of the best, I pay 1700 per year, on 2013 458 sider, you can also try raising your deductible a bit to save some cost
Thanks for all the info guys! Perkins, I called Geico and they said they don't insure Ferrari's at all. I asked specifically for my state or at all and he said they don't at all. You're the third person with Geico to tell me to try them.
I have a 07 430 and am with state farm. I pay 125/mo for it alone. You can save a lot by raising your deductibles. I'm at 1000/2000.
I have all my cars insured with State Farm. My 09 430 Spider bill just came in. Cost for six months is $624.46. I have 250/500 liability and 1,000 deductible comp and collision. Never had them turn down any car I wanted to insure.
Hi Drew. I posted the following in the Northwest section when I was shopping for insurance for my 360 (thread link below...might be some helpful information). Ultimately, I went with Travelers because PEMCO didn't pan out. Although my Traveler's agent is in the Northwest, he might have buddy in your parts. Let me know if you would like Jeff's contact info. $879 for 12 months (the 360 is my second car). AND, the following plusses vs PEMCO: 1) coverage increase from current 100/300k to 250/500k 2) Comprehensive and collision deductible from $1,000 to $500 3) No mileage limit Thread link... http://www.ferrarichat.com/forum/northwest/503165-insurance-rates-360-modena-2004-a.html Good luck. Cheers. Frank
I am with Geico... Have both 911 Turbo S and Ferrari. On top of that S8 and SL AMG and 2 other cars without any problems... I think I pay $650/year on my Ferrari... Of course it is a pleasure vehicle... Your quote is high... Wow... I pay a lot less both in NY and CA which are very high insurance rate states. I happened to shop around thinking I pay too much for insurance... Farmers was terrible but State Farm is also very competitive. They insure Ferraris... If you try websites, it doesn't even show up but when you call, they will give you a quote right on the spot. Maybe it is SC. I have never had problem insuring in FL, NY and CA. You could try to ask Ferrari dealdership for their recommendation. They should give you some sort of help. Good luck.
I was with Geico for 1.5 yr and switched to Allstate. Geico can insure Ferrari, you just need to call them.
I am with American Collector's insured as a "collectible" car with restrictions on use and mileage (<5000/yr) at $1200/yr in New Jersey. Your intended use does have an effect on cost, but since I only use the car for pleasure (in insurance terms and figurative terms as well) the restrictions don't bother me. I tried another collector car insurance company, but was refused because this was my first "exotic" car. That was an interesting catch 22. Had to have had one to get insurance but could not get insurance because I hadn't had one.
I would recommend an "agreed value" policy with whomever you choose. This avoids any unpleasantness if you are in a serious accident and there is a question on valuation. If you use a traditional insurer like Farmers or State Farm and total the car, you WILL get in a big fight with their valuation on the car...guaranteed you will have to get an attorney to avoid getting shorted. I currently use Grundy Worldwide. Their policies have no mileage restrictions, but do require you have a garage and a primary car for daily use. Their only requirement is the Ferrari is not used to drive to work and back on a daily basis. Only used for pleasure use, club outings, etc...the stipulation is not very restrictive... I did have a claim with them in the early 2000's when my 308 was totaled, they settled at the agreed value without question. I've continued to be with them...they really are excellent from my experience. A google search will get you to their website where you can get an online estimate. BTW, everyone should have their limits set at 500/500 not the minimums 100/300 or whatever. And get an umbrella policy as well. You are a big target driving a Ferrari....it doesn't cost that much to cover yourself with additional coverage.
I have been with State Farm for years. Currently have two drivers on a VW, a Mazda, two Ferraris and a Lotus for slightly over $500/month. No complaints here.
Similar to f355spider... I just moved to Grundy WW and away from hagerty. I have 4 cars on the policy.. my two Ferraris (2002 , F360 , 6sp gated and a 2005 F430, 6spd gated... both Berlinettas). I was able to increase my values so that I am comfortable for replacement costs. Rates with them saved me $1600 per year with higher valuation and equal deductibles versus Hagerty. Good luck...
I have USAA- just shy of $1200/yr (300/500 and $1k deductible) on my 08 430 in NC. I've been shopping around and Hagerty was outrageous at $2500/yr. Liberty mutual was $1400/yr- many others wouldn't insure it.
I can assure you I'm telling the truth! My VIN doesn't come up on their website, so I had to call. No special underwriting or anything. It must be your state.
Hi, I'm with American collector as well, just at a curiosity whats your deductible? I have a 2008 F430 spider with them as well as my Modena.
Hi Mike - my deductible was set at $1k, I guess part of the tradeoff to keep rate down. That's for my 2005 430. I also insure another collector with them and have been in that case for 30+ years.
State Farm insured my 360 F1 without batting an eye...lifetime customer though. 360 is the next 275GTB
