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355 Insurance?

Discussion in '348/355' started by dgpIII, Mar 7, 2007.

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  1. dgpIII

    dgpIII Karting

    Jun 23, 2006
    148
    Los Angeles
    Full Name:
    DGP
    #1 dgpIII, Mar 7, 2007
    As part of my due diligence while taking a serious look at a '98 355 GTB, I called my auto insurance company (AAA) to investigate premium rate increases and I'm a little dismayed after speaking with 5 different folks in different departments that no one can or will give me any indication of what the payoff amount would be if my car were totalled.

    All I can get is "it would be fair market value" but no clear understanding of how they would come by that number and whether it would be truly "fair". I don't like the way they hedge with phrases like "fair market value is not replacement value" or how they "research national averages."

    Have any of you actually filed a claim and was the resulting settlement "fair" or is it just understood that if your car is totalled or stolen, you'll take a beating no matter what company you insure with and it's just part of deal if you want to drive a Ferrari?

    I live in LA.
     
  2. Gershwin

    Gershwin F1 Veteran

    Feb 21, 2005
    6,415
    Kentucky
    #2 Gershwin, Mar 7, 2007
    I tend to believe you get what you pay for w/ insurance, like everything else in life. Sure you can save a few hundred here or there but you want to be able to do two things at the end of the day:

    First when you have a problem you want to speak w/ a warm body that can manage the "crisis" in your life at that time. When you need insurance it is usually when the sh*t has hit the fan, right.

    and two you want to know what to expect in terms of settlement before a "crisis" ever arises, in other words give me a heads up.


    I fired my last insurance guy because he was unavailable on a weekend after my wife and kids were hit by a drunk driver on a Saturday evening. Did I mention I saved money going w/ him. My new agent is a guy I should have done business w/ years ago. I fish with him in Florida, I socialize and have a relationship with him. I keep his cell phone right next to my doctors and lawyers.

    Find someone you can trust and establish a long term realtionship w/. Someone you can trust and have them find ins. companies that fit your criteria.

    There are plenty of insurance companies out there that will give you what you want find the agent that will cover your back and bridge the gap.

    Good Luck.
     
  3. Mark_M5

    Mark_M5 Karting

    Nov 14, 2006
    115
    Ventura County, CA
    Full Name:
    Mark
    #3 Mark_M5, Mar 7, 2007
    I have AAA/ACSC insurance also, and it didn't occur to me to ask that. With Kelly Blue Book not listing Ferrari, that's a really good question. I guess I've never been screwed by a reputable insurance company, which I believe AAA to be.

    I'm curious about this too. Unfortunately, I don't have the answer.
     
  4. gixxer

    gixxer Rookie

    Sep 15, 2006
    1
    #4 gixxer, Mar 8, 2007
    Just curious how is the insurance rate compared to "lets say 911 turbo"? Is the insurance rate very high for this car?
     
  5. Gershwin

    Gershwin F1 Veteran

    Feb 21, 2005
    6,415
    Kentucky
    #5 Gershwin, Mar 8, 2007
    higher
     
  6. dgpIII

    dgpIII Karting

    Jun 23, 2006
    148
    Los Angeles
    Full Name:
    DGP
    #6 dgpIII, Mar 8, 2007
    don't know about the Porsche but it's $650 a year more (total all coverages)than my '06 Corvette Coupe.
     

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