Insuring your Ferrari | FerrariChat

Insuring your Ferrari

Discussion in '360/430' started by scoper, Nov 18, 2007.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. scoper

    scoper Karting

    Sep 23, 2007
    97
    Bethesda, Maryland
    Full Name:
    Alan
    Do normal insurance companies insure Ferraris? I know Geico for example doesn't even insure Porsches. Do companies such as State Farm, Progressive, Nationwide insure Ferraris or do you need to use smaller niche insurers? What company do you use and what's the typical range I should expect for the yearly premium? I just bought a 360 Spider with 8,000 miles (assuming a perfect driving record).
     
  2. fc2

    fc2 F1 Veteran
    Owner

    Nov 2, 2006
    5,263
    Silicon Valley Ca.
    Full Name:
    Frank C.
    I've always used Allstate and I've never had a problem insuring any of my sports cars, including a 360 and my new 430.

    Premiums will vary, of course, but with a clean driving record, multiple cars insured at once and no teen-age drivers (yet), my premiums were the same for the older 360 as they are for the new 430 at around $1600/year. IMO, not bad.

    Frank
     
  3. StoryBook

    StoryBook F1 Rookie
    Lifetime Rossa Owner

    Mar 1, 2003
    4,304
    PNW
    Full Name:
    MPL
    My Ferraris are insured through Geico. Have been for years.
     
  4. Polar Peter

    Polar Peter Karting

    Mar 4, 2006
    202
    Northeast
    Full Name:
    Peter
    Chubb, most recent was $1,700 per year for a 2007 430 spider
     
  5. newmembersteve

    newmembersteve Karting

    Jun 26, 2007
    50
    Northern Virginia
    State Farm. about $1000 year
     
  6. Joe Mac

    Joe Mac Formula 3

    I've used Atlas most recently. They allow you to insure for a cap number of miles per year. 3k, 5k and higher as well.

    My annual premium is $1,500
     
  7. zippyslug31

    zippyslug31 Formula 3

    Sep 28, 2007
    2,075
    PDX
    Full Name:
    Kevin M.
    Just had a convo w/ my agent (Farmers). He is quoting me $80/month for a 360, $60/month for a 355.... although I have an extra 10% out-of-pocket expense on my side for all claims; understandable given the price of the cars vs. the premiums that I'd pay.
    Says it should be no problem to insure though.
     
  8. Joe 575

    Joe 575 Karting

    Dec 18, 2005
    101
    So Cal/Carmel
    Full Name:
    Joe
    AIG Private Client Group, fantastic group, fantastic coverage.
     
  9. bernardo66

    bernardo66 The Crazy Cat Man
    Lifetime Rossa Owner

    Dec 14, 2003
    26,527
    Montreal Canada
    Full Name:
    Bernie
    Silver Wheel. Great for the older (collector) cars!

    Costs less to insure than my Neon. ;)
     
  10. marksp

    marksp Formula Junior

    Jul 10, 2006
    737
    Redmond, WA
    If your "normal" provider says no, push back. The cost of loosing what I suspect is a great client generally results in the ability to simply add your F-Car. At least it did in my case with Allstate. Cheers.
     
  11. RBK

    RBK F1 Rookie

    Jul 27, 2006
    3,105
    Calif and Nev
    Full Name:
    Bob
    There have been many threads. Go to State Farm first - price is very competitive. Best
     
  12. nerd

    nerd F1 Rookie

    Oct 12, 2003
    2,535
    Coronado, CA
    Full Name:
    RSK
    For the past 30 years, State Farm has insured everything except my race cars.
     
  13. brokenarrow

    brokenarrow F1 Rookie

    Sep 25, 2006
    3,737
    Txass
    Full Name:
    Bill
    I have USAA and they are very good--always pay claims without any grief. I've heard Chubb is very good also.
     
  14. abz

    abz Formula 3

    Aug 27, 2006
    1,439
    PA
    Full Name:
    Al
    My F430 is also insured through Geico. Al
     
  15. numisrx

    numisrx Formula Junior
    Silver Subscribed

    Jul 4, 2007
    460
    Pasadena, CA
    Full Name:
    Wayne
    I've had Mercury for years, but they wouldn't back off of $7400 a year. Now you'll see me on the Allied Insurance commercials... I just saved $6000.00 a year on my auto insurance!
     
  16. hamdog

    hamdog Formula Junior

    Mar 21, 2005
    729
    Northern VA
    Full Name:
    Hamdog
    +1
     
  17. CyclingPeaks

    CyclingPeaks Formula Junior

    Jun 11, 2006
    361
    Big Island, Virginia
    Full Name:
    Hunter Allen

    Same here. $1100 a year for 2000 - 360. Great price.
    Hunter
     
  18. Fmax

    Fmax Formula Junior

    Aug 16, 2007
    799
    Prague, CZ
    Full Name:
    Max
    8,882.00 is what I have to pay with the current USD exchange rate. Damn you guys get cheap insurance.
     
  19. mgtr1990

    mgtr1990 Formula 3

    Mar 30, 2005
    1,580
    Naples Florida
    Full Name:
    Martin Graham
    State Farm has insured all my Fcars and other Sports cars no issues no questions
     
  20. hg

    hg Formula Junior

    Dec 26, 2005
    425
    I agree. The numbers are similar to what has been already posted.
     
  21. jrdefeo

    jrdefeo Rookie

    Oct 11, 2007
    11
    chicago, il
    Full Name:
    john d
    yup...Allstate, no problem. One other tidbit (from my insurance agent of all sources!): he offered to temporarily 'suspend' collision coverage for the hard, dark winter months when I will not be driving my F430. Nice savings, and still covered if (God forbid) something happens in the garage...
     
  22. Modenafan

    Modenafan F1 World Champ
    Lifetime Rossa Owner

    Dec 19, 2004
    12,069
    Moorpark
    Full Name:
    Jon
    State Farm - $1,480 per year.
     
  23. dsevo

    dsevo Formula Junior

    May 7, 2007
    708
    Flower Mound, TX
    Full Name:
    Dustin
    USAA. $950 every year, even with all of the highest coverages they offer. Best customer service on planet earth too.
     
  24. nerd

    nerd F1 Rookie

    Oct 12, 2003
    2,535
    Coronado, CA
    Full Name:
    RSK
    Volunteering your insurance rates is at best meaningless and at worst misleading. You rates are dependent on many, many factors; driving record, claims history, deductibles, number of vehicles insured with the same carrier, other policies (home, personal articles, liability, etc.) with the same carrier, medical coverage, geography, etc.
     
  25. roccoriley

    roccoriley Karting

    Jun 24, 2007
    230
    So Cal
    Don't look only at the premiums. Compare the coverage carefully. You are insuring to compensate you for a physical loss and to provide you with defense in the case of a liability issue. The coverage varies a great deal from one company to another and in the case of an expensive car like a Ferrari, the differences in coverage become quite important.

    Some insurers will allow you to state a minimum value for the vehicle which, in the case of older Ferraris, is very useful, and some company's coverage provides you with true market value if you incur a loss.

    For anyone considering insurance I would suggest that you consider Fireman's Fund. They are a premium quality insurance provider and I can tell you from recent personal experience that they excel in handling claims.
     

Share This Page