$2200 per year for insurance | FerrariChat

$2200 per year for insurance

Discussion in '360/430' started by Noel, Jun 11, 2010.

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  1. Noel

    Noel F1 Veteran
    Owner Rossa Subscribed

    for a 2007 430 spider...is that price any good? I have not price compared in years and thought I 'd check with you guys to see if I'm getting stiffed. any feedback is welcome, thanks.
     
  2. snoble

    snoble Karting

    May 10, 2010
    118
    San Jose/Shanghai
    Full Name:
    Steve Noble
    Age, Location, Other Cars, Driving History, Coverage level.. all of these things play a part.. Some people pay $500 a year, others pay obscene amounts :)

    If 2200 seems reasonable to you vs what your other cars cost then it's probably good.

    My 360 Spider is only $100 more a year then the car that it replaced (a simple Toyota)
     
  3. Skidkid

    Skidkid F1 Veteran
    Owner Rossa Subscribed

    Aug 25, 2005
    8,683
    Campbell, CA
    Full Name:
    John Zornes
    I don't know Noel. I just paid the 360 and it is ~$700 per year with State Farm (250/500 coverage).
     
  4. Camdon53

    Camdon53 Formula Junior

    Jul 18, 2006
    507
    Texas, USA
    Full Name:
    Jim
    Besides the usual factors noted above, price also depends greatly on whether it's a conventional "depreciated value" policy or the more collector/exotic friendly "agreed value" policy. The former is always much cheaper but is usually a huge problem if you ever actually need it (i.e., need the car fixed or replaced). Vendors of the latter type are typically worlds better to work with when something goes wrong but cost more along the way. The price you've quoted sounds like an agreed value policy with something around half that or less for a depreciated value policy.
     
  5. TheMayor

    TheMayor Nine Time F1 World Champ
    Rossa Subscribed

    Feb 11, 2008
    98,539
    Vegas baby
    State Farm: $1300 year with $500 deductible (2 car policy) full coverage.

    2008 F430 spider bought new.

    But I have an excellent driving record.
     
  6. moby242

    moby242 Karting

    Apr 1, 2010
    56
    Charlotte,NC
    Full Name:
    Mark Brummond
    650 a year for me, 35 year old, 2002 spyder with state farm. 4 car policy
     
  7. Ingpr

    Ingpr F1 Rookie

    Jun 30, 2009
    2,619
    PR
    Full Name:
    David
    Here everything is to expensive! I pay $2,600.00 a year and it is that low because a have 20 more cars in my account.
    What a bastards!!!
     
  8. steve0601

    steve0601 Karting

    Oct 22, 2009
    62
    Scottsdale, Arizona
    1800/year for 2009 scuderia 1000 deductable 4 cars insured with State Farm
     
  9. hardtop

    hardtop F1 World Champ

    Jan 31, 2002
    11,285
    Colorado
    Full Name:
    Dave
    I'm paying about 900. year for my '05 430 with 1K deductible. State Farm. I understand So. CA is very expensive.

    Dave
     
  10. delta2210

    delta2210 Karting

    Aug 15, 2009
    128
    Las Vegas
    Full Name:
    Jason
    I pay $900 per year for a 1999 360 with $1000 deductible through Farmers insurance. Rates in Vegas are about 30-50% higher than many other cities. 24 hour drinking, theft, etc....
     
  11. Hitch-Hiker

    Hitch-Hiker Formula Junior

    Jan 1, 2010
    373
    Live at the Office
    Full Name:
    HH
    07 spider, +/- $750, state farm also, many cars with them as well.

    Key... talk to your agent, and make sure you are covered properly. They will consider it as replacement value. I was not happy with this classification at all, so I had them jump thru a few hoops for me. They ran a "what if" and I was happy with the value results. Keep records and photos up to date! Those that often say they were screwed by their insurance company 99% of the time never knew what their coverages were, and what they were paying for.

    On the down side..... If I chose to not have it insured thru them, my umbrella policy would nearly double in price. I was a but upset with this, but after a little conversation, I understood why.
     
  12. Hitch-Hiker

    Hitch-Hiker Formula Junior

    Jan 1, 2010
    373
    Live at the Office
    Full Name:
    HH
    Since we are talking insurance.... just a little reminder to take pics or video inventory of EVERYTHING in your house, every room, inside cabinets, closets, drawers, the mess in the basement, EVERYTHING and store the photos or video in a safe place. If you ever have a loss, photo documentation will most likely save your butt with proof totaling tens of thousands of dollars that you would otherwise forget.
     
  13. Chupee

    Chupee Formula Junior

    Jul 10, 2009
    828
    Between Trust funds
    Full Name:
    Blair
    Location location location Encino 1720 and thats the best Ive ever seen . i called a few of the guys who had ben recommended her and they were all higher or had MILEAGE restriction's which aint any good to me.. ave 3 cars perfect record but its LA county and people steal **** here What can i say
     
  14. Hitch-Hiker

    Hitch-Hiker Formula Junior

    Jan 1, 2010
    373
    Live at the Office
    Full Name:
    HH
    Quoting myself just to clarify, I wasn't thinking about cost of coverage, rather this was to make sure others have the proper coverages and don't get screwed if there is an incident. Some say specialty insurance is the only way to go, an state farm is not good. That can be the case if you don't know what they are providing you.

    Sorry if this sounds a little remedial, but there was another post on fchat that made me question my insurance guy, and there was some gray areas in the policy that I had resolved.
     
  15. reuland

    reuland Karting

    Jan 15, 2010
    95
    tyler,texas
    Full Name:
    kurt
    $850/yr full coverage USAA clean driving record at time of purchase!
     
  16. mjw599

    mjw599 Formula Junior
    BANNED

    Jul 30, 2008
    510
    A Chinese Democracy
    I'm selling my Scud for the same reason, far too much to insure
     
  17. NPWMD

    NPWMD Karting

    Apr 16, 2006
    80
    NY,FLA
    Full Name:
    Neal P Wittels, MD
    Being cancelled by Chubb need insurance, any thoughts.
     
  18. vincenzo

    vincenzo F1 Rookie

    Nov 2, 2003
    3,373
    can you please elaborate here a bit?
    Rgds,
    Vincenzo
     
  19. Oengus

    Oengus F1 World Champ
    Rossa Subscribed Silver Subscribed

    $750 for my CS
    State Farm
     
  20. m.roberts

    m.roberts Formula Junior

    Nov 2, 2009
    907
    USA
    2007 430 spider. Oklahoma. 28 yr old single male.. $110.00 per month, state farm. I personally think this is VERY fair.
     
  21. tazandjan

    tazandjan Three Time F1 World Champ
    Lifetime Rossa Owner

    Jul 19, 2008
    37,985
    Clarksville, Tennessee
    Full Name:
    Terry H Phillips
    Way too much variability to compare. Depends on state, miles driven annually, storage location, driver age and record, number of cars, home insurance with same company, deductibles, etc, etc. Not the same as the price of a Hi Def TV.

    Taz
    Terry Phillips
     
  22. RayJohns

    RayJohns F1 Veteran
    Silver Subscribed

    May 21, 2006
    7,398
    West Coast
    Full Name:
    Ray
    On my 360, I think I was paying $260 every 6 months.

    Ray
     
  23. brokenarrow

    brokenarrow F1 Rookie

    Sep 25, 2006
    3,737
    Txass
    Full Name:
    Bill
    Rip-off. Shop around.
     
  24. Chi-Town

    Chi-Town Guest

    Mar 30, 2010
    17
    California
    Wow you must have any excellent driving record:)
     

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