Please help with car insurance

This is insane but Allstate won't carry my new Ferrari. I went down the Hagerty line and other collector car insurances but they are just a pain to get approved. Who are you guys using in Seattle, home is in Bellevue.

 

You should try State Farm. I've used them for the last 15 years on a variety of exotics, including my current Scuderia. The only thing they wouldn't insure was my Ultima GTR. Their pricing tends to be good, as you only pay full price for your primary car; secondary sports cars with limited use get pretty favorable rates even given the significant value of the car.

 

Try Chubb. Not the cheapest, but IMO the best.

 

Can you share specifics? I'm with State Farm and have 5+ vehicles insured at a time. The only break they would give me is to put some vehicles on some sort of 'on request' policy where I call them before I want to drive and they pro-rate me. But the problem was the cost of that policy was 24 days of driving a year = a full year's premium. And when on that temporary use policy, the vehicle isn't covered for comprehensive.

Thx

 

What Ferrari won't Allstate cover? I have had my F355 under them since I bought it.

 

Call Robbin at Midwest Classic Insurance in Illinois. 888 271-4000. He has all kinds of plans and companies, all of them specializing in classic and special interest vehicles.

 

What's the hassle with Haggarty? I have 4 cars with them. They called me to question the value I put for the 400i, but we discussed it, they approved it, etc. Easy as pie.

 

+1 on Hagerty. I have all my cars, except daily drivers, with them.

Hagerty has an office at the former Club Auto in Kirkland, if you want to sit down with them and deal directly. Contact Ashley Shoemaker <[email protected]>

 

Every couple years my wife and I check our insurance policies versus the market. All told I believe we have asked Haggarty for price quotes three times over the years. The last time I called them their quoted prices were several times more than I pay for similar coverage from State Farm.

 

When I got a quote from Hagerty for my car, they were at least twice as expensive as my existing policy through Midwest Classic.

 

Statefarm is good at collecting premiums and sourcing junk, aftermarket or reconditioned parts rather than replacing w/ OEM, not paying claims. They also refuse to pay exotic and aluminium labor rates and jig rental that all other insurance comapnies pay, leaving the claimant (sometimes you) paying the difference.

 

Try grundy I just switched to them, better coverage & much cheaper rates than Hagerty

 

This.

 

I've been with Grundy Collector car insurance for almost 20 years on various Ferraris and other sports cars and they are great to work with. Grundy Insurance

No yearly mileage limitations and zero deductibles.

 

State Farm will insure a Ferrari.

emissary, what was the reason they would not insure the Ultina GTR?

 

Yes, they will collect your premiums but not pay the full amount of any claims that include exotic labor rates. I review 300+ various insurance repairs per month. Chubb or Hagerty for the win.

 

Just wondering: how would an insurance company legally avoid paying ACTUAL labor and replacement parts costs?

Forget diminution of value issues.

 

Ace Private Risk. Best insurance company I've ever dealt with.

 

+1...

 

I had talked with my agent before purchasing the car, and he said No Problem. The car was added to my policy, but after a few weeks, word came down from "corporate" that they were not willing to ensure the car, and my agent found me a separate insurer. I thought it was bizarre as the car was worth less than my R8 and Gallardo, and substantially less than my Scuderia, all of which they have insured without issue.

 

Agreed, been there, done that with them.
A total loss is cut and dried, repairs is where they do the best job of cheating.

 

My grandfather insured his F355GTS and Quattroporte through AAA's insurance. He ended up totaling the Maserati, and they paid out very fairly for the car. My father called me (a sports car dealer with a Economics degree) to value the car for him, and they gave him more than I told them to take for it.

Jon

 

True about Allstate. I have 3 other cars with them, a boat, two homes, two life policies, and an umbrella with them. Never made a single claim and in route to Ferrari to pick up my Italia in last April my agent said they couldn't do it as the 458 is blacklisted. Dealer gave me a State Farm guy ( who has a 360) and he got me hooked up for less than I paid Allstate for my pani GTS.

If you are in Seattle you would only take your car to Queen City in Redmond and they aren't considered an "exotic shop" as they fix everything (Audi,BMW,MB) and of course all the exotics. It's just hourly rates by state law not by type of car. Granted it may take longer to get it right but you'd be safe with anyone as ins co can't force you to use a specific shop.

 

Got a link to this law?

Since when can a state or insurance lobbyist regulate the collision repair industry. A shop in city where real estate is expensive should not be forced to charge what a shop in BFE nowhere charges statewide. A shop that repairs exotics and pays extra to train professionals to become certified in exotic makes including sending them overseas for certifications and all the expensive equipment required should not be forced to charge what a domestic and Japanese makes hackshop gets paid. Like regulating anyone who sells beef to charge the same price so you can get a filet Mignon at the fancy steakhouse at a Big Mac price.

Also, the labor hours vary depending what estimating system is being used so they would also have to force all shops and insurance companies in the state to use one system which is not a free market.


Exotic rates just aren't for exotic cars. Structural aluminum (new Ford pickup), composite panels, is not just something anyone can do and the dealers won't sell those parts to collision shops not certified. Paint itself is very expensive. The cost of paint is calculated by painthours but the cost of paint on a exotic car is not the same as on a grocery-getter. What would be the initiative for shops to fork out big investment and carry the liability on all the luxury cars in their shop to get paid the same rate? If true, good luck finding anyone to fix anything but cheap easy Japanese cars.