Hey all, I’m possibly looking to switch up my insurance provider. I’m currently with Progressive, paying about $439/month for my F430 Spider and Stelvio Quadrifoglio. (Policy does not include collision.) I’m hoping to find a policy that includes collision coverage without getting absolutely robbed on premiums. So my question is — which provider are you guys using? Who’s good, who’s not? Any recommendations for companies that offer competitive rates on exotics? I’m 25 years old with a clean record (no tickets, no at-fault accidents). I’ve heard Hagerty might be good — anyone here have experience with them? TIA!
Try Chubb collector car insurance I have it and had American modern home before .. Both good but fit differently depending on driving habits
Ok thanks, will check them out. Getting quoted like $5200/year for the F430 only with Hagerty which sounds absurd.. lol
Yeah.. when I was 21-22, I somewhat justified it in my head.. said “Oh, I’m still not 25 - that’s why I have a premium” but now that I’m 25 with not a single ticket on my record, this does not make sense at all to me. I’ll check auto owners as well, thank you!
I went with them when I got my viper at 26 after progressive wanted $6,000/yr despite a clean driving record.
I’m 35 and switched to hagerty this year, but from when I got my car 5 years ago until this year, they were not competitive. The local hagerty rep said he didn’t even want to send me the quote bc it was stupid. I used safeco for both Ferraris and they were reasonable with collision. I had high deductibles bc I was not going to file a claim until the car was undriveable. gl
I use Erie insurance on my 360 and R8 premiums on the 360 is $560a year. The R8 is a little more expensive at $710 a year. I have all of my other cars with them along with my house, boat and umbrella policy. Highly recommended if Erie is available in your state
Just checked, looks like they’re not available in Georgia which sucks! At least it’s promising to hear that people are getting number that makes a lot more sense than $5000!
Let me just understand here, you have a F430 spider and a Stelvio Quadrifoglio without any collision insurance??????
I'm been using American Modernfor my '08 F430, no issues, good price, let me set and agreed value. Thank god I haven't had to use them yet though, so not sure how they are if there is an issue.
Yes I can if it has collision and actual liability coverage. Insurance is not a checkbox item. The first time you have to use it you will be thankful you spent the 6k or whatever the going rate is for a 25 year old to have appropriate insurance driving on public roads.
I’m at $1,300/year on our 430 with Hagerty, no mileage restrictions. But I’m 52 and my wife is 38. They’ve also increased our agreed value each year with really low cost increases.
I asked for a few quotes from the companies above. I’m still planning on giving Hagerty a call to see if the quote differs from what I see online. I’m not expecting $1300/y, but also not 6000. I think I’d be happy if I could land around ~ $3000
Age and horsepower. You’re not going to get a good rate no matter where you look. Best is to shop around the brands and see what they come back with. Maybe see what hidden discounts might be available. Allstate was giving me a “professional” discount because I have an engineering job. Don’t know how that makes me a better driver, but it gave me better rates. I’m sure most of the discounts are never mentioned.
At 72, i pay about £350 a year with a £900 excess. Gives me up to 4000 miles a year and covers me for all risks- 3rd party and my own car.
Erie for the win. My f430 costs me $800 a year for 100/300 and a $500 deductible. I have 4 cars (and a teen driver) on my policy and the total premium is about $5500 per year. Granted my wife and I are both in our 40's, haven't had a claim in over 20 years, and have our home owners policy with them. But still, I haven't been able to find anyone who even comes close to them. For comparison, Hagerty was $1600 a year with a $5000 deductible.
The biggest factors in your insurance price will be Insured Vehicle claim rate State you live in (someone in NY will pay more than someone in Kansas) Your Driving history (you have less than 10 years of driving), it's not the age of 25 anymore, according to my insurance agent Your Credit Rating Your Zip Code and the Zip code where the car is kept (most people underestimate how this can affect your rates, but it does) Your Claim history (i.e., accidents) Then, with all that, there are discounts available from some providers. For example, I have a policy at Allstate for my "daily" cars, which gets a multi-car and multi-policy discount. I have other non-vehicle insurance with Allstate. Before the discount, I am at $28,000 per year for auto insurance for 5 cars. After the discount, I am at $13,000 per year for auto insurance ($6500 every 6 months). I have had no accidents in the past 20 years, knock on wood, which my insurance paid out. The only incident was a 90-year-old woman backing into my Cayenne about 8 years ago at a stoplight; she thought she was in drive. Her insurance paid for everything, including diminished value on the Cayenne. I was told in NJ that this does not count against you if you go through the other person's insurance and they accept responsibility. FYI: My rates did not go up at my next renewal. I do have maximum liability insurance and $1000 deductible. The maximum liability does make my policy a little on the higher side. I have shopped around for insurance, and it's about the same for State Farm after their discounts. For the Ferrari and my GT3, I pay an additional $7000 per year for a stated value policy with American Family with similar liability coverage. As of this year, they have removed my 25-year-old from the policy, as they want 10 years of driving experience for all drivers now. This is something new because of all the claims they received during COVID, according to my agent, on "younger" drivers in exotic cars. It did suck, as we used to go on drives together, taking both the GT3 and the Ferrari. When he is 27, this restriction will be removed with his 10 years of driving experience, but he has his Lotus now. BTW: In NJ, Allstate won't cover my 430; they have a cap on the original MSRP for an insured vehicle. I know the total amount of $13,000 per year after discounts sounds high, but there are 5 cars on the Allstate policy. I just added my 2026 GV80 black edition, which is $4000 on its own after discount per year. And my son's Lotus, which is $2000 per year after discount. Before my 18-year-old started driving last year, my Allstate policy was about half. This nearly doubled the price for all my cars, since technically, he could drive any of the cars on the policy. I do want to double emphasize, unless you can afford to replace your car in cash, you should never drive a car without collision. Even if you are the safest and most careful driver, the other guy could be a complete idiot and cause you to hit someone else. This cash rule works even for old, worthless cars. If you have a 5k beater, you don't need collision, because if it gets totaled, you could buy another one cash. If you financed the 5k beater using your credit card, I know people who have done that, and the car got totaled, they really couldn't afford to put another 5K on their card to buy another car. For them, it would have paid to have a collision, even at $500 a year more so they could get another beater without charging up their credit card. Once again, I know people this has happened to, and the insurance they could barely afford allowed them to buy a car to get to work when their car was totaled.
