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DIFFERENT Insurance question

Discussion in 'Ferrari Discussion (not model specific)' started by tesseract, Dec 6, 2004.

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  1. tesseract

    tesseract Karting

    Dec 24, 2003
    173
    Charlotte, NC
    Full Name:
    Jeff W.
    #1 tesseract, Dec 6, 2004
    My oldest will be getting his license in less than a year. What has been your experience with the insurance companies when this comes along?

    I know they will jack me up pretty good, but I have some concern about them even insuring the F-car. I (and my wife) have a pretty clean record and have all the multi-discounts (house, life, 3 other vehicles), but I still had to threaten to take them all away for them to even cover my 308 (ended up at $502 per year, with a $49,999 replacement value). Nationwide is the insurer.

    I do not intend to let my son drive the 308 (for awhile, at least), and was thinking I could get a carve-out whereby the insurer wouldn't have to pay if he was driving that car and had an "insurable event".

    Any thoughts?
     
  2. Auraraptor

    Auraraptor F1 World Champ
    Lifetime Rossa Owner

    Sep 25, 2002
    14,111
    MO
    Full Name:
    Omar
    #2 Auraraptor, Dec 6, 2004
    Some insurance cos will give you a lower rate if you say that only you are the registered driver and only you will be driving the car and not your wife/kids/etc.
     
  3. FarmerDave

    FarmerDave F1 World Champ
    Consultant

    Jul 26, 2004
    15,782
    Full Name:
    IgnoranteWest
    #3 FarmerDave, Dec 6, 2004
    I'll post a short answer here, if you want more detail, PM me.

    Kids have accidents. Whatever you will pay in insurance will be cheap, because the odds are, there is a claim coming in your future. And yeah, they will definately want to exclude your son from being a driver on that vehicle.

    Last week, in our office, we had a long-time client argue with us over how much it was going to cost to add her newly licensed kid. There's not alot we could do, she already got all the discounts. Today, we got an accident report. Kid had wreck over the weekend. :(

    How does your setup with Nationwide work. Do you have an agent, or is it a 1800 number kind of deal?
     

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