Insurance

Hi. I have several cars and a clean driving record. I use USAA but feel like Im paying way too much.

I got a quote from Heath through AMerican Modern for Collector Insurance. Its less than half the yearly for the Ferraris.

They offer agreed upon value and different miles.

I do not put more than 1000 miles per year so I figured why pay for more.

Any experience, thoughts or advice on insurance vs collector vs......?


Thank you for any thoughts

 

I switched my Vantage and 458 to Hagerty mainly due to the agreed upon value. My daily drivers are with Progressive. For reference the 458 is at 250k value, with 5k driven per year and Vantage is 80k value 5k driven, Premium 4200/yr.

 

I use Grundy with agreed-upon value, saved a lot. Search the htreads on this forum for a lot of good advice

 

I am an insurance broker as well as a ferrari owner. I may be able to help you as I have a good policy at a reasonable price. what state do you live in?

 

I have State Farm... checked with Hagarty and Grundy etc... they were both about $1K more per year.... I have two cars and my house with SF, and agreed value on the 599... with 7,500 miles pay about $3K a year.

 

USAA is too costly for exotics. State Farm was $1100 cheaper a year than USAA for my F430 and Hagerty $1200 cheaper than State Farm so naturally, Hagerty agreed value with towing and no deductible was the way to go.

 

I am with State Farm on a 360 Spider. It's $53 a month, and I think I get up to 5000 miles a year?

 

Condon Skelly. My premium on the F355 for $75k agreed value is $230. per year!!

 

With USAA I get a return of premium in November and another for being a senior member in February.

 

Hagerty for 1985 308.

 

My collector cars are all insured with Chubb Classic Car insurance. They have a great reputation for paying claims.

Alan
N.J.

 

Anyone have experience with State Auto (NOT State Farm):
https://www.stateauto.com/

 

They held my homeowners insurance on my first home (5 years)

Beyond an outdated website, I had no issues with them (granted we didn't have any claims in that time period, but they didn't f with paperwork or do anything unethical during their time as our insurer, and when I did need to pay bills or get paperwork they were timely)

I have used Geico (Mondial 3.2) and Hagerty (308 GTS, 308 GT4 and Mondial 8) so far for car insurance on FCars, no issues with either, Hagerty is cheap IMO and let you dictate the agreed value with photos and etc. to a reasonable amount

 

Geico is much less than others, at least here in Massachusetts ... they were 1/3 the cost of Liberty Mutual. $1100 annually on a 2015 Cali T — 250/500.

 

It’s all unique and situational. For some abc company is cheaper. For others xyz company. Make your agent shop for several and then you will know.

fwiw, Chubb has a great reputation for large/high end collections in terms of coverage and service and claims handling. I had them for years with the ferrari and maser and Jeep and houses etc. they were a fraction of the cost of the traditional retail carriers and were half of haggarty (with no silly conditions or limitations). So it was an easy choice for me.

But ymmv (pun intended)

 

I think my exotics were insured through American Modern through my local insurance broker. I got with Hagerty as I need to change my old Porsche to a stated value policy. Ended up putting all 3 of my cars on with Hagerty. Due to the combined value of all the cars (which I am sure your cars' total value would qualify), this put me into a higher category with them with additional deductions as well as much fewer restrictions. Saved over 4K per year

 

Andrew at Grundy has saved me many thousands of dollars. Very happy I found him after trying all the usual companies, Hagerty included.

 

Just got off the phone with Geico; they told me they don't cover F cars. I'm in PA so I'm wondering if their policy is different state by state...

 

I’m in / was in PA too...I would try Grundy.

 

Interesting. Massachusetts may not allow them to exclude manufacturers, they heavily regulate the insurance industry here, to the point where until a few years ago, none of the national insurers would offer car insurance.

 

Every state is different, I am sure.

I had my Ferrari covered by GEICO in Oregon.

 

I’m going with Cincinnati for my house/vehicles/umbrella. I was happy with my quote on the 488 for an agreed value policy.

 

Sorry. Preoccupied with a sale.

Florida

Had Chubb for all else but it’s funny they wouldn’t do agreed value. They wanted to value my 430 manual at 60k!! Then they upped my proposal from December u til now by 4K.


I worry with collector that one loses everyday drivability.

Going with American modern. Getting a 8k yearly break.

My broker deals with some very known collectors in our area. This is what they use she has assured me. You know stables that dwarf my little guys.

I’ll let y’all know what happens.

ScottS

 

USAA wasn’t bad until my 17 yr old had two wrecks. Now have the Ferrari under Modern America


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Check with GEICO, they were the cheapest for my 2009 F430. They have a Quote function on their website that makes it easy.


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