Any recomendations on a car insurance company? | FerrariChat

Any recomendations on a car insurance company?

Discussion in 'General Automotive Discussion' started by Ferrari Monkey, Oct 6, 2014.

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  1. Ferrari Monkey

    Ferrari Monkey Karting

    Sep 29, 2014
    91
    Don't know where to post this, so I am putting it here. Sorry if it is not in the correct forum. Are there any recommendations as to a good insurance company for a Ferrari, or any other high end car for that matter. Anytime I google an insurance company, it inevitably comes back with 2 stars or something. I have come to realize that people who are happy with their insurance companies probably don't post reviews, it is the unhappy people who post. Either that, or all insurance companies are evil bloodsucking parasites - hmmm. :)

    My insurance company won't insure a Ferrari because it is an exotic car. They recommended American Modern Insurance. The price is about half that of Progressive, but I have never heard of this company. Does anyone know anything about American Modern? Can anyone recommend a good insurance company that has good customer service and that won't gouge me? Thanks.
     
  2. texasmr2

    texasmr2 Two Time F1 World Champ
    BANNED

    Oct 22, 2007
    22,232
    Houston
    Full Name:
    Gregg
    #2 texasmr2, Oct 7, 2014
    Last edited: Oct 7, 2014
    Check with Hagerty and Grundy. Be aware that your age, driving record, history of coverage and projected use and mileage will effect you quote, good luck.
     
  3. toggie

    toggie F1 World Champ
    Owner Silver Subscribed

    Nov 30, 2003
    19,036
    Virginia
    Full Name:
    Toggie (Ron)
    I went with American Modern for the past 4 years for my 458 Italia. No issues with them.
    My regular car insurance company (Nationwide) didn't want to insure a new Ferrari back then.

    I never had a claim with my 458, so can't give any feedback on American Modern on that side of their business.

    I use Nationwide for the daily driver cars, Progressive for the motorcycles, and Hagerty for my 65 Corvette and 98 Ferrari 550. Hagerty works well for older cars.

    .
     
  4. Ferrari Monkey

    Ferrari Monkey Karting

    Sep 29, 2014
    91
    Thank you for your responses. Will check them out and see what they say.
     
  5. Ferrari Monkey

    Ferrari Monkey Karting

    Sep 29, 2014
    91
    So, just an update. Did an online quote last night at Hagerty insurance (as well as 2 others). Price was about twice of American Modern, but I see them recommended, so I figured I would call and talk to them. Called the guy today. It felt like an inquisition (reminds me of Monty Python)! Anyways, he asked me a bunch of questions. One of them was that I needed to have a car less than 6 years old. I informed him that I had 3 other cars, and this would definitely not be a daily driver - just for weekends and pleasure and such. I told him that I can't even see me putting 3,000 miles on it per year. Then he asked if I was part of a car club. I said, we don't have one here, but a few of us get together with our cars and have coffee, B.S., and look at each other's cars and such about once every 2 months or so. He said, well, that is splitting hairs, so they may not be able to insure me. Mind you, I have never had an accident (cross fingers), and haven't had a speeding ticket in 10 years! I told him that he must be joking. He said I can file an application and see what happens. I said I haven't bought the car yet, just wanted to be ready for when I did. Unbelievable. All this just for car insurance. So, I then called American Modern and it was way easier. Just amazing!!!
     
  6. dmaxx3500

    dmaxx3500 Formula 3

    Jul 19, 2008
    1,027
    have you tried ''GEICO''
     
  7. Ferrari Monkey

    Ferrari Monkey Karting

    Sep 29, 2014
    91
    Yea, about twice that of American Modern. I will probably go with AM unless anyone has bad things to say about them.
     
  8. dmaxx3500

    dmaxx3500 Formula 3

    Jul 19, 2008
    1,027
    IM GOING TO CALL am TOMOROW ON MY 1969 427 CORVETTE
     
  9. Ferrari Monkey

    Ferrari Monkey Karting

    Sep 29, 2014
    91
    Let me know what they say. I am not insured with them, so I don't know what their customer service is like if you have a claim. I have my car and home insurance with Ameriprise through Costco. I called them, and they said that they do not insure Ferraris, but they gave me a quote with AM, and it was about half of Geico and Hagerty for the same coverage. I asked the Costco rep if AM was A+, and she said that all the insurance companies that Costco works with are A+. I don't know if the price was low because I am with Costco and have my home and other cars insured with them, or if they are always lower. I had Costco check with Geico, and they were about twice as much. Guess it doesn't hurt to take a look. Let me know what you find out.
     
  10. parkerfe

    parkerfe F1 World Champ

    Sep 4, 2001
    12,887
    Cumming, Georgia
    Full Name:
    Franklin E. Parker
    #10 parkerfe, Oct 10, 2014
    Last edited: Oct 10, 2014
    For a car you will use regularly, drive to work, ect..., USAA or Amica are the best if you qualify. For a weekend toy, Hagerty is great. I have my 2012 997TTS DD, 3 Mercedes and a VW insured with USAA and 1988 911 Cab, and 4 vintage motorcycles insured with Hagerty and have been well pleased. I have been a MVC PI attorney for 30 years and can attest that USAA, Amica and Hagerty treat their insureds fairly with claims. Allsnake, Snake Farm, Progressive, Southern General, Safeway are the worse in my eperience. And, be sure you get at least $1,000,000.00 in uninsured/underinsured motorist coverage...I have $3mil. You would not believe how many drivers on the road have no insurance at all or minimum coverage. I have had cases where people who live in a million dollar + house and drive a $100k car with minimum coverage auto insurance. That's what you get when buy on price rather than coverage.
     
  11. bundas

    bundas F1 Veteran
    Owner

    Dec 31, 2005
    7,090
    lexington ky usa
    Full Name:
    mitchell barnes
    I have used them for ten years. Great! I had one issue that ended up not their problem. But they were willing to step in. I have collector car policy with them. I could not own the cars if not for them.
     
  12. Ferrari Monkey

    Ferrari Monkey Karting

    Sep 29, 2014
    91
    Did they ask you about being a member of a car club and so on? They seem to make it difficult to "get in." Also, parkerfe, what are your thoughts on American Modern Insurance? Thanks.
     
  13. bundas

    bundas F1 Veteran
    Owner

    Dec 31, 2005
    7,090
    lexington ky usa
    Full Name:
    mitchell barnes
    collector car insurance. I may drive, with coverage, to any sanctioned event anywhere in the world. I cannot drive to work, dinner(non club event) or work and be covered. stated miles are part of the coverage. secure area needed. seriously cheap cost. $200 a year to cover all the cars, plus stated value. they let me put a new Viper on this!
     

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