Any recommendations for Insurance on a Ferrari? | FerrariChat
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Any recommendations for Insurance on a Ferrari?

Discussion in 'Ferrari Discussion (not model specific)' started by DylinPrestly, Sep 27, 2015.

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  1. DylinPrestly

    DylinPrestly Rookie

    Sep 27, 2015
    2
    New York
    Full Name:
    Dylin Prestly
    #1 DylinPrestly, Sep 27, 2015
    Hey everyone. I have a 2008 430 Scuderia and I always used AIB Insurance in the UK. Now that I'm back home in the States (New York), does anybody recommend a reliable insurance?

    What insurance companies are you guys using? What are you guys paying roughly in a 6 month rate?

    My old insurance company here in the u.s. told me that regardless if you buy a Ferrari new or used and regardless on how much it cost, the insurance company uses the list price $250,000 but if you total your car, they only payout the market value.... wondering if this is true or just total BS.
     
  2. Voda

    Voda Formula 3

    Oct 10, 2013
    1,808
    Seattle
    #2 Voda, Sep 27, 2015
    Look into an "agreed value policy".
     
  3. GTS Bruce

    GTS Bruce Formula Junior

    Oct 10, 2012
    804
    Orchard Park NY
    Full Name:
    Bruce Roche
    #3 GTS Bruce, Sep 28, 2015
    State Farm. Insure the house,other vehicles and get an umbrella. They will take the F car gladly. Get the vehicle properly appraised. Someone like for example James Sandoro Buffalo Car Museum (Pierce Arrow). You keep a copy,he keeps a copy, your Ins person gets a copy AND signs it and it goes into your file. Take it off for the winter but keep it insured in a garage for 1/2 price. No on road ins but you get to keep the plates and if anything happens to it or the garage you are covered. I have friends with lambo etc including one that had a saleen S7. No ins problems with state farm. Grundy/Haggerty 4-5x more expensive. I have heard of people having a problem with is C----- S-----. but no personal knowledge. GTS Bruce
     
  4. cheesey

    cheesey Formula 3

    Jun 23, 2011
    1,921
    #4 cheesey, Sep 28, 2015
    Natiowide Ins now owns Hagerty Ins... could be a good place to start, if placing all your insurance under a single provider... with Hagerty representing the collector car side... makes it seem that Natiowide would have all aspects covered
     
  5. Voda

    Voda Formula 3

    Oct 10, 2013
    1,808
    Seattle
    #5 Voda, Sep 28, 2015
    Last edited by a moderator: Sep 7, 2017
    Three words: "Agreed Value Policy"
    There is a reason that Hagerty, Grundy, Condon Skelley, etc. cost more.... I mean really, do you guys actually think that collectors pay additional costs just to say they are insured by a given company??? Come on. Think about it. The policies are DIFFERENT!!!
    IF YOU DO NOT HAVE AN AGREED VALUE POLICY, YOU WILL GET SCREWED AS IT WILL PAY OUT AS IF YOU HAVE AN EVERY DAY ECONO-BOX POS!!! SHEESH!!!

    Read these:
    Car Damage, Insurance and Agreed-Value Policies
    Good Insurance Is Your Car?s Best Friend
    https://www.hagerty.com/articles-videos/Ask-Hagerty/Whats-the-difference-between-Agreed-Value-and-Stated-Value-coverage
    Stated Value or Agreed Value Insurance for Classic Cars? - Auto, Home, Life Insurance Reviews & Shopping TipsAuto, Home, Life Insurance Reviews & Shopping Tips
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