Modern Maserati Insurance--advice and tips

Try State Farm....I have 8 cars, House and umbrella insured with them. Cars can be stated miles, no hassle.


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Hmm, I just switched to progressive earlier this year and I got a quote from them when I was looking at a 2009 GranTurismo and it wasn't that expensive. Was it more than a collector car policy would be, yeah, but it wasn't bad I didn't think.

 

There isn't going to be "modern maserati" specific answer to this...meaning its going to be the usual suspects.

You say "charging me too much" but don't give us a sense of what they are charging? (have you gotten alternative quotes? Are those cheaper and thus you know your policy is too high?)

I've had ACE and Chubb for a decade or more. They are great and have never hesitated to insure any car I have bought. My 2014 GT is on there currently. There are no silly mileage or show-use only rules or other limitations. Its just car insurance as on any regular car. IIRC for $100k/$500k liability (whatever the min requirements are for your umbrella to work) and $1000 deduct C&C and full under/un-insured idiot coverage and agreed value at more than I paid...I think my annual premium is $900. But so much of that is driven by your age, your record, your other drivers in the household, your other cars, your other policies, your zip code and the weather in Burundi, that its not much use to compare. But there it is fwiw.

I have shopped State Farm, ACE (before Chubb bought them), Fireman's, Allstate and Haggarty. I won't use Haggarty except as a last resort (its a pain with their restrictions and requirements).

 

I have PURE Insurance for home and cars, some of which are 1960s and exotic.
Collectible cars are stated value.

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Mine is under my normal Geico policy. I have my Ferrari under American Modern, agreed value but mile restriction.

 

Geico is affordable, but when it comes to living up to their end of the bargain, they r very questionable. I'm about to file my lawsuit
Geico 1400
Wawaness 2800
School Union per wife 3500
Your case may very

 

Yep. AIG private client is expensive, but they pay claims like a slot machine. It doesn’t do any good to save money on premiums when the insurance company doesn’t pay claims.


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Recognize what you are asking for: You are asking to be over-insured.

It isn't a standard product for your average Insurance Company.. or your specialty 'Collector Car' companies. Any insurance product that isn't standard will always come at a higher cost.

Yes, Hagerty (and most any other Collector insurer) won't insure any late model car, because it's not their market: We can appreciate a mint 2010 Maserati GT S, but all they see is it is still depreciating, unlike your MGB or 1960 Land Rover. I suspect Hagerty is offering you a work-around: If you take performance driving classes, they can define you as a 'race car' driver and fit you into one of their racing insurance products.

Your average 'big name' insurance companies don't offer 'agreed value' policies on late model cars because the cars' values are undeniably depreciating. Few clients, including yourself, want to pay the cost of over-insuring a car. That's what you are asking for. That car will depreciate below the policy's payout. Again - no offense to your mint 2010 low mileage Maserati GT S, but - to an insurer, it's just an asset that follows a certain value trajectory, which for the time being is downward.

My advice is don't get an agreed value policy on a late model car that is depreciating - no offense to your mint 2010 Maserati GT S. Just insure it along with your other daily drivers and be done with it.

Best,
- Art

 

Great advice from a lot of folks here, and this is prompting me one day to give Chubb a call (when I find the time). Currently with Ameriprise through Costco. Home, umbrella and standard auto with 6 vehicles including 2 Maseratis (Quattroporte and Gransport). 4 other vehicles with American Modern/Heacock at agreed value.

A lot of factors into play here as others mentioned, including what state you are in.

 

Chipping in as I'm looking into an MC myself. But just came from having an Aston insured through Grundy for 2.5 yrs at an agreed value of $60k and annual premium of $730. My issues w/it ultimately were all the rules/purposes on what it could/couldn't be driven for.