Insurance for a 430 Scuderia | FerrariChat

Insurance for a 430 Scuderia

Discussion in '360/430' started by luccio, May 3, 2021.

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  1. luccio

    luccio Rookie

    Feb 10, 2021
    46
    San Francisco
    Full Name:
    Luccio
    Hello and my apologies if this isn't the right sub-forum to post this question.
    I just purchased a Scud and reached out to my insurance (Hagerty) and they quote close to $3000 for the annual insurance premium - including all the discounts which I find a bit pricey.
    But maybe I'm too naive on this one?

    Living and driving in California, which group do you folks recommend to consider? Are there any Ferrari loving brokers amongst you :rolleyes: ?

    Thanks
    Luccio
     
  2. flash32

    flash32 F1 Veteran

    Aug 22, 2008
    5,562
    Central NJ
    Full Name:
    Dominick
    Try American modern or chubb

    Sent from my moto g power using Tapatalk
     
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  3. ShineKen

    ShineKen F1 World Champ
    Silver Subscribed

    Aug 3, 2007
    16,412
    Southern California
    Full Name:
    Nostradamus
    Grundy. $1900/year. Thank me later.
     
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  4. gw32

    gw32 Formula Junior

    Apr 6, 2017
    942
    Sonoma, CA
    Full Name:
    Gary
    It all depends on stated value. My Scud is with Grundy at $2,515 as of 11/20. Value is $200K, the lower the value the lower the premium. I'm in No. Calif.
     
  5. ShineKen

    ShineKen F1 World Champ
    Silver Subscribed

    Aug 3, 2007
    16,412
    Southern California
    Full Name:
    Nostradamus
    $175k stated value since 2015. The good thing is they don’t seem to be increasing rates once you’re on assuming you don’t make any changes. A good driving record helps to. Get in early!
     
  6. flash32

    flash32 F1 Veteran

    Aug 22, 2008
    5,562
    Central NJ
    Full Name:
    Dominick
    Quoting rates really doesn't help since everyone has different scenarios - age, credit, kids, location, where stored, how many cars in total, if insuring other items etc

    My rates in NJ are half of my friend ..same car, same town

    OP needs to call the three - four places and get the rates for his scenario and then compare - make sure you get agreed value, same mileage ( or unlimited etc) - apples to apples

    Also what is important to OP

    Chubb - has unlimited use and mileage whereas American Home has limited use ( show car, pleasure) and limited mileage - but rates will be different
     
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  7. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    Try doing a couple of searches for insurance. There have been many threads on the subject but Dominick’s comments are spot on, just so many variables such that comparisons are not really valid except in the very broadest terms. I used to be a broker and made several comments on the various threads that are universally valid.
     
  8. luccio

    luccio Rookie

    Feb 10, 2021
    46
    San Francisco
    Full Name:
    Luccio
    Thank you folks.
    That gives me a few pointers and I asked for multiple quotes. I'll let you know what I find...
     
  9. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    Grundy only insures if you have the title in hand no lien, so not good for everyone


    Sent from my iPhone using Tapatalk
     
  10. ShineKen

    ShineKen F1 World Champ
    Silver Subscribed

    Aug 3, 2007
    16,412
    Southern California
    Full Name:
    Nostradamus
    Must be a new policy. I had a loan on the Scud in 2015.
     
  11. ShineKen

    ShineKen F1 World Champ
    Silver Subscribed

    Aug 3, 2007
    16,412
    Southern California
    Full Name:
    Nostradamus
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  12. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    I don’t know if it’s new I just know they don’t


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  13. luccio

    luccio Rookie

    Feb 10, 2021
    46
    San Francisco
    Full Name:
    Luccio
    I paid the car cash but Grundy won't cover us with 2 claims over the past 5 years... bummer
     
  14. gw32

    gw32 Formula Junior

    Apr 6, 2017
    942
    Sonoma, CA
    Full Name:
    Gary
    I have my Scud with Grundy....no loan and no claims, accidents or tickets last 7 years.
     
  15. luccio

    luccio Rookie

    Feb 10, 2021
    46
    San Francisco
    Full Name:
    Luccio
    My mistake was to let my wife drive my cars :D
     
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  16. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    I have also made that mistake but I have to let her drive her car and paid for three “incidents” out of pocket or we would have 4 accidents. Three were with stationary objects that jumped out at her in her car and one, the worse one, was a parking stepping on the accelerator rather than the break which was one of my cars. None involved a cell phone so go figure?
     
  17. MikeMonty

    MikeMonty Karting

    May 28, 2004
    122
    Nashville TN
    Full Name:
    Mike
    Not Grundy but Hagerty quoted me $2800 for the Scud. I added it to my existing State Farm policy which has my other cars with $200K agreed value for $1400 so half price.
     
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  18. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    Probably OK, since you may not need “stated value” on a reasonable new car as long as you are fine with an “actual cash value” basis of settling claims. Not sue what State Farm’s policy is on using OEM parts on repairs which could affect the value if non OEM parts are used for repairs. Might be worth asking what there policy is for using OEM parts so you know before there is an issue and don’t have a misunderstanding after a lost.
     

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