Insuring your Ferrari | FerrariChat

Insuring your Ferrari

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

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  1. scoper

    scoper Karting

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    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

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    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

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    My Ferraris are insured through Geico. Have been for years.
     
  4. Polar Peter

    Polar Peter Karting

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    Chubb, most recent was $1,700 per year for a 2007 430 spider
     
  5. newmembersteve

    newmembersteve Karting

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    State Farm. about $1000 year
     
  6. Joe Mac

    Joe Mac Formula 3

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    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

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    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

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    AIG Private Client Group, fantastic group, fantastic coverage.
     
  9. bernardo66

    bernardo66 The Crazy Cat Man Lifetime Rossa Owner

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    Silver Wheel. Great for the older (collector) cars!

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

    marksp Formula Junior

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    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

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    There have been many threads. Go to State Farm first - price is very competitive. Best
     
  12. nerd

    nerd F1 Rookie

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    For the past 30 years, State Farm has insured everything except my race cars.
     
  13. brokenarrow

    brokenarrow F1 Rookie

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    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

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    My F430 is also insured through Geico. Al
     
  15. numisrx

    numisrx Formula Junior Silver Subscribed

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    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

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    +1
     
  17. CyclingPeaks

    CyclingPeaks Formula Junior

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

    Fmax Formula Junior

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    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

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    State Farm has insured all my Fcars and other Sports cars no issues no questions
     
  20. hg

    hg Formula Junior

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    I agree. The numbers are similar to what has been already posted.
     
  21. jrdefeo

    jrdefeo Rookie

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    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

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    State Farm - $1,480 per year.
     
  23. dsevo

    dsevo Formula Junior

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    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

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    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

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    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.
     

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