how much is your Lusso insurance?

just curious how much is car insurance around the globe......ill start with mine, its US$10,000/year for a new Lusso V12.

 

Uhhhhh, get a new insurance broker. I pay $2400/yr for my 812 insured at $500k agreed value with unlimited miles.

 

Same for my lusso. 2400. 478k replacement. The FF was only $360 a year.


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360 a year? 30 dollars a month? Or u mean car value


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$30 a month. Use PURE. My Mclaren is $600 a year with a $185k replacement value. I think they understand that you can’t physically drive more than one car at a time. All are garaged. So insuring one of these cars or 10 of them is pretty much the same risk.


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Insane ! Insure will consider them!


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insurance companies are making a killing here in that case, a $2,400 policy here is equivalent to a $150,000 more or less my $10,000 policy covers around $500,000

 

pure rocks - lots of big collection guys have done the chubb --> AIG --> Pure migration

 

PURE requires a million dollar replacement primary home coverage with them. Also stated/agreed value policies all have a total loss clause that allows them to pay fair market value, whichever is less. ask your provider if you don't believe me.

"In the event of theft or a total loss we will pay the Stated Value
or the Actual Cash Value, whichever is less."

 

Good to know, I’ll have to check my policy.

Also, a $1m house in my neck of the woods is a shack/closet, so that isn’t too difficult to do sadly

 

1 million replacement value, not for sale value. so it won't include land value. 1 million construction cost is a high end 7000 sqft build.

 

I don’t remember the $/sq ft construction costs at the moment, but it’s pretty high. It won’t take a 7,000sq ft house to get there. I want to say the rates are around $350+ at the moment

 

Agreed amount and stated value are NOT the same thing. You don’t wanted stated amount you do want agreed value. With agreed value that is what the insurance company will pay for a total loss - no haggling just check writing. With stated amount that is the maximum they will pay after haggling, usually a lot less which is actual cash value or fair market value. Make sure you have a good insurance broker.

 

Kind depends where you live $350/sq ft for a 7,000 sq ft home is likely low for CA but may high or right on for the mid west. Keep in mind when a single home is reconstructed not as part of a tract of homes there are no economics of scale and you are actually paying custom home rates for labor and materials, even though the original was a tract constructed home.

 

Just emailed this verbiage to my agent and she confirmed this is NOT language in my policy.


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Mine says “agreed value”. Pretty straight forward. And where do i move to build at 150/sq ft? We can’t get under $500/sq ft here.


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haha maybe i should've specified builder cost not what you would pay. tract homes are 75/sqft, higher end is around 150/sqft, that's Atlanta. Labor/union costs for other cities will affect price but material costs should be the same. Contractor markups 20%.

 

There are vastly different quality tract homes. Some are very highly upgraded over the very base level of construction while others are the lowest basic of materials and often low level of labor used as well. I just am not believing that you get much home for $75 cost or $90 with profit added. Maybe low cost multi tenant public housing but not average quality single family housing.

 

$360 per year?? Which company?

 

Same. I think the policy terms depends on your net worth and total insurance with them (homes, multiple exotics, etc).

 

Same for me here in Miami, $11000/year

 

Please advise if USD who's your carrier? Contact info please Thanx

 

Well if they are in the same building and that burns down, every car is at risk. Moreover you cannot drive a car without road-insurance on the road, so every car must be insured.

 

Try Hagerty. Your broker is very high.
Good luck,

 

I think I pay about $1400/yr in CA for a 2017 Lusso through Costco, but it's not an agreed value policy. Planning on switching to PURE but our house is being renovated and they won't write policy until that's finished.

Everyone else I tried was over $4k/yr for agreed value policy, but SoCal is not known for cheap anything when it comes to cars.