Insurance help needed - new car, can't find anyone to cover it!

Very Strange..!
I am a first time Fcar owner my insurance is with Grundy...so far so good..!
Good Luck..
K//

 

i was first timer and got gieco you may try them

 

Perhaps your using non Ferrari friendly companies. Offiicial Ferrari owners clubs around the world typically offer decent insurance deals, might be worth doing some enquiries. I wouldn't touch a mainstream company myself...

 

I used State Farm and it wasn't an issue. There are a lot of threads on this but admittedly they are mostly about price.

 

I have my 360 Spider and two Corvettes insured through American Modern insurance. I've been with them for years and have a "Collector Car" policy. Which means you should not drive them to the "Walmart Parking lot" but allow you up to 5,000 miles annually per car. We use our cars for pleasure drives and club events.

 

Travelers super cheap


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I lined up insurance before I even completed the deal (in PA, it's a requirement for buying a car). I received multiple quotes from all the usual companies (Liberty Mutual, State Farm, Farmers, Geico, Progressive, and a couple regional companies like Erie Ins. Co.) In the end, I ended up bundling auto and home owners with Travelers. They had the best rate, and second best policy after Liberty Mutual. Also, make sure whoever you end up going with will insure for a declared value, in the event there is a total loss. Mine is set to $135k, based on market at time of purchase just over two years ago.

 

I’ve had State Farm Insurance for 30+ years. I’ve had many high horsepower cars during the whole time and it’s never been an issue. Maybe because I have all my vehicles (4) and my house (2) with them. Funny, my Ford Superduty F350 has more value (at the moment), more horsepower, more torque, more weight and it reflects in the cost of coverage. Still strange they will not insure you. Do you have a friend or family member that is in the insurance business? Maybe a friend of a friend???

 

Maybe they sensed your "defunct neurons"? Just kidding. I like your handle.

You can always get liability and forget the comp and collision if you own the car outright. I dislike insurance co polices and general actions to avoid paying claims so I always go with best liability policy and forget the rest. Even my liability only policy has an uninsured motorist provision. So the only way I pay is if the crash is my fault. Risk is like placing bets with knowledge. I bet on myself.

 

Allstate has always been willing for me. It may be dependent on the office and/or agent you happen to contact.

 

https://www.amig.com/insurance/collector-car/

Info on American Modern Collector Car coverage. I've never had one of my daily drivers insured with them. Only my Collector cars. One benefit I get is that I can obtain an Emissions Waiver with this policy. A consideration if you are in an area where emission testing is required.

 

I too got the "you haven't had an exotic before, so we can't write you a policy for an exotic" spiel from Hagerty. Bizarre. I got and have stayed insured with American Collector's. From what I've seen on other threads, Grundy could be a good option if you do the M car switch over.

Now that I think about it, I had called Hayden Wood Insurance in Southboro Mass and they got me set up (even though I am in NJ). www.hwimotorsports.com

 

Call Andersen Associates here in town. They are the broker for Cincinnati Insurance.

An agreed-value $100K insurance for my 360 costs me $600/year, with no mileage or use limitations.

 

There's got to be more to the story. I've had numerous other supercars, bur never with them, and they ended up approving me. It is damn expensive, but oh well.

The Geico policy I have for my daily drivers would add it for $100/mo. No agreed upon value, but comprehensive 100/300/500 coverage. I went the expensive route because I don't want the adjusters using the value of an early F1 for my late gated.

Never had anybody turn me down. Only thing I can think of is I buy all my stuff outright in cash. Maybe they'd get antsy if it was financed to the hilt.

 

Maybe you already mentioned it, but how old are you?? Maybe they are just using your “lack of experience” in connection to your age


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I had no problem with Grundy, and they only have my F430. I never heard of needing multicar on a collector policy. I also had Hagerty but didn’t like their customer service. Grundy process was very slow though.

Another factor is where you live and the risk associated with your city. In Detroit I had a hard time with insurance even with perfect record.


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Don't take this the wrong way, but every hairdresser and real estate agent in Charleston drives either an M3 or an M5. "Qualifications" with either don't really mean anything.

And if I were you, on a public forum posting about sliding an M-series around a track won't exactly win confidence in anyone reading it. Nobody cares about track time when an uninsured old lady in a Prius will crash into your 430 and give your insurer a $10,000 bill. Or maybe, track time and being able to slide an M3 around the track statistically tells insurance companies that you're a higher risk for insurance.. I've used State Farm for the last 8 years and there was no issue, even with my euro 360.

 

I have the 360 (a Euro version) and my Z32TT on Grundy Collector Ins.


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I just recently bought an F430 and was shocked when my Allstate Agent told me Allstate would not cover it.
I had Allstate coverage for 30 years!
Not anymore... Now have all 4 of my cars (including the Ferrari) covered by Travelers.

Also, The price for all 4 of my cars through Travelers is the same as Allstate was charging for my 3 cars before the Ferrari!
I'm in process of canceling all my Allstate policies.
Rant over...