Ferrari Classic Car Insurance | FerrariChat

Ferrari Classic Car Insurance

Discussion in '365 GT4 2+2/400/412' started by jacques, Nov 12, 2015.

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  1. jacques

    jacques Formula Junior

    May 23, 2006
    876
    Los Angeles/Florida
    It's my annual
    Ferrari insurance renewal time again. As usual I'm checking out various companys' rates. Who are we all insuring with , and how do you like them? I would just love to hear your stories. Thank you all so very much. Jq.
     
  2. Part Time

    Part Time Formula Junior
    Silver Subscribed

    Dec 16, 2013
    494
    Port St. Lucie, Fl
    Full Name:
    Gary Shore
    As luck would have it, I am also shopping for insurance.
    Hagerty qoute at $579 plus $50 for the "Premium Plus plan"...towing, battery jump, fuel, etc.
    American Collectors at $600. Grundy sez $464.
    1985 400i with agreed value of $30k, which might be too low.
    Still looking......

    Gary
     
  3. Ak Jim

    Ak Jim F1 Veteran
    Owner Rossa Subscribed

    Dec 23, 2007
    8,451
    North Pole AK
    You need to really look at the fine print on some of those policies. I forget what company it was that I was looking at but you were only "allowed" to take the car to the store or restaurant two times per month.
     
  4. Il Tifoso

    Il Tifoso Formula 3
    Owner Silver Subscribed

    Oct 22, 2013
    1,546
    SF Bay Area, CA
    Full Name:
    Ruben
    +1 for Hagerty - been quite happy with them, although I've never needed anything more than a tow (their roadside service is great, btw, allowing for something like 125 miles of guaranteed flat bed towing).

    Their rates depend on agreed upon value and they have a really great valuation tool.

    Cheers!

    Ruben
     
  5. Temerian

    Temerian Formula Junior
    Silver Subscribed

    Jun 17, 2014
    432
    Manhattan
    Full Name:
    Rick Temerian
    I'm with Hagerty and I just moved my motorcycles to them as well.
     
  6. dakharris

    dakharris Two Time F1 World Champ

    Jun 7, 2001
    29,441
    Sleepy Hollow
    Full Name:
    Cavaliere Senzatesta
    +1 Most of these program policies have limitations on use and/or annual mileage. You generally get what you pay for. I saved a bunch when I dropped Hagerty and combined my Ferrari with my other vehicles, homeowners, umbrella, etc. Nice to have everything with one insurer and you leverage higher premium dollars on the total account. Most who buy one of these stand alone auto policies forget to schedule that policy under their umbrella and end up driving around with $150,000 of total bodily injury liability insurance and only $50,000 of property damage coverage. Rear end a La Ferrari and you may be underinsured.
     
  7. Ashman

    Ashman Three Time F1 World Champ
    Owner Silver Subscribed

    Sep 5, 2002
    31,629
    MA
    Full Name:
    John
    I used to have Chubb for the Ferrari with my other cars, house and umbrella until I got tired of the steady annual rate increases well above the inflation rate despite no claims. Chubb has a premium reputation for service but the disparity between their rates and "normal" rates just got too high for me.

    When I switched to State Farm, they wouldn't cover the Ferrari (in CT at least) and so I switched to Hagerty for that car with an agreed value at a good rate. Since I never had a claim with Hagerty, I can't tell you how they performed in a claim situation but I was happy with the coverage. I don't recall the specific usage language but was comfortable that I could drive the car whenever and wherever I wanted to recreationally without worries.

    Hagerty did not have any specific mileage limitations, just that I have at least one other car as a "daily driver" and that the car be kept in a locked garage when not being used, which was not a problem.
     
  8. rzinger

    rzinger Rookie

    Jun 17, 2014
    34
    Boston
    Full Name:
    Dave
    I have four classic cars insured with Hagerty. Stated value, towing coverage, high liability coverage that meets the needs of an umbrella policy, etc. The rates are ridiculously low (someone mentions near $600 earlier in this thread, I'm paying a fraction of that per car).

    I did (unfortunately) have a comprehensive claim (something fell on one of my other cars) and they were fantastic about it.

    Zero complaints - I would highly recommend them. In fact I wish they insured more than my classic cars - as they are a pleasure to deal with. Dealing with the biggies for home insurance and the daily drivers is a pain in the neck!
     
  9. dwhite

    dwhite F1 Rookie

    I had Hagerty for over 20 years. Their rates skyrocketed on me 2 years ago and I went to Condon & Skelly. I just renewed and went to Grundy, as they gave me the agreed values I needed to be comfortable and they were less than others. No minimum mileage, no use as primary vehicle, ect - same as Hagerty.

    I'm in NY and maybe Hagerty got slaughtered from Sandy, but their price are double compared to everyone else I spoke with and I'm 57, no accidents and no speedings tickets.
     
  10. dstacy

    dstacy F1 World Champ
    Owner Rossa Subscribed

    Jan 23, 2006
    11,769
    GMT -5 & GMT +1
    Full Name:
    Dave
    Hagerty here. Had a claim with them and told them what I thought it would cost to fix it. They didn't even send an adjuster; they just wrote a check.
     
  11. OttoB

    OttoB Formula Junior

    Aug 17, 2013
    699
    Palm Beach, FL
    For those of us without a garage, collector car/reduced prices insurance is not feasible. I live in a condo with assigned parking for all my cars but they won't insure vehicles that are kept in apartment buildings...
     
  12. bjwhite

    bjwhite F1 Rookie

    Mar 17, 2006
    4,675
    Seattle, WA
    Full Name:
    Brian White
    Hagerty here too for all of my classics....
     
  13. sidtx

    sidtx F1 Rookie
    Owner

    Feb 9, 2014
    4,454
    Frisco, Tx
    Full Name:
    Sid
    2 cars

    85 Mondial QV Coupe. 25K Agreed Value
    67 Karmann Ghia CV. 10K Agreed Value

    Total Policy - $450/year

    Never had a claim, so can't relate any experience there.

    Sid
     
  14. dwhite

    dwhite F1 Rookie

    I'm sure you could find a storage facility or rent a garage space from someone, if it makes financial sense.
     
  15. OttoB

    OttoB Formula Junior

    Aug 17, 2013
    699
    Palm Beach, FL
    The option to walk out of your front door, and within seconds, have several options on which vehicle you feel like driving for that moment of the day, for whatever purpose it may be, is very much priceless, actually... And, to know they are being protected from the elements, having reserved parking, under 24/7 video surveillance, and knowing that neighbors would bring up anything unusual should something occur, gives me peace of mind. Where I live, even a real 2 car garage is completely out of the question due to old construction.

    If you're ever in Palm Beach, please let me know so I can share with you the unbelievable view I'm blessed to see every day right out of my living room! At the end of the day, don't we all do the most we can with what we have? I'm certainly no exception and I'm okay knowing that I won't qualify for classic collector car insurance for the time being nor until I win the lottery and can afford a 6-10 covered car dwelling.
     
  16. LARRYH

    LARRYH F1 Veteran
    Owner Rossa Subscribed

    Jun 3, 2011
    9,142
    virginia usa
    Agreed the view can be wonderful I have a second home on Singer island.. the one item I do not iike is not having a private garage just common garage (like most condos)but the view makes up for all of that...BUt at my full time home i do have the luxury of a very nice garage which Hagerty has approved they even sent an inspector to view my cars etc. I am about to switch to grundy though do to lwer rates and less restrictive....check out Grundy...
     
  17. Ashman

    Ashman Three Time F1 World Champ
    Owner Silver Subscribed

    Sep 5, 2002
    31,629
    MA
    Full Name:
    John
    Dave, was that claim by any chance for the rainstorm event? ;)
     
  18. dstacy

    dstacy F1 World Champ
    Owner Rossa Subscribed

    Jan 23, 2006
    11,769
    GMT -5 & GMT +1
    Full Name:
    Dave
    No, I haven't had a return call on that one yet. Since it melted I think I might have some trouble with that one.
     
  19. full_garage

    full_garage Formula 3
    Owner

    Feb 15, 2010
    2,241
    Sarasota Florida
    Full Name:
    Jay
    Don't decide based on the difference of a couple of dollars. I've made claims with Hagerty and they are the best. They have car guys working there and if you have an issue they'll actually have a dialogue with you, which I've never experienced with another carrier.

    Get the premium roadside package which includes 125 miles of towing per incident with NO LIMIT per year.
     
  20. Part Time

    Part Time Formula Junior
    Silver Subscribed

    Dec 16, 2013
    494
    Port St. Lucie, Fl
    Full Name:
    Gary Shore
    Hello all.......I just yesterday submitted my app and payment to Hagerty, now I wait.
    As luck would have it, Tuesday evening while getting a haircut, there was an insurance agent in the next chair over, she added her opinion and I listened, along with all of you.
    $579 a year, $35k as a value, which I may bump up in 6 months when "everything" is done on 55027.
    I had them delete the tow/road service package, I have "free tow" business cards in my wallet from the guys that haul cars into the dealership.
    Next is a new tag....thinking of a couple that are still available here in FL. Stay tuned.

    Gary
     
  21. Part Time

    Part Time Formula Junior
    Silver Subscribed

    Dec 16, 2013
    494
    Port St. Lucie, Fl
    Full Name:
    Gary Shore
    Boy, that was quick and easy....my Hagerty agent called with an approval and emailed temp id cards, I went to the tag office this afternoon and bought a plate......I am "street-legal" !!!!
    I did have to order a special plate......she said 60 to 90 days, I will let you all know when I get it.

    Gary
     

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