Best insurance for F8 Spider

I’ve had Chubb in the past but switched to Cincinnati on my F8. Rates will depend on where you are registering it. Make sure you insure for market value. That’s the most important. Good luck


Sent from my iPhone using Tapatalk

 

Insurance premiums are specific to the person and it is not very helpful to see what others are paying. The variables that affect your premium are: your age, location, members of household, driving history, prior claim history, other cars, etc.

someone here may pay $2000/year with no kids, no prior claims, clean record and live in Kansas. Another person could pay $10,000/year because they have male kids and a they have a bad driving record.

What’s important is do you want a Agreed Value policy or an ACV policy? I’d first have your agent shop around. You could also Try Hagerty as they are competitive with agreed value policies. Since you are in Miami, unfortunately your rates are going to be significantly higher than most every place in the country. The theft/accident ratios is extremely high and you will be rated accordingly. If it is “garaged” someplace else that would be helpful.

 

I am a long time ferrarichat subscriber as well as ferrari owner. I own an insurance agency and we specialize in auto insurance for exotics. Thanks please call our office and 800-752-0150 and ask for Scott. He will be happy to answer all your questions and if you are in one of our footprint states provide you with a competitive quote

 

It would be a diminution of value clause. Every insurance company has a different method of valuing that claim. You are better off with a specialty company such as Hagerty as they understand the affects of the loss.

 

Be sure to install a dash cam.. Unfortunately exotics tend to be attractive targets..

Example - Some motorcyclist scammers take advantage of the "no-contact accidents".. I've heard stories of motorcycle guys who yield their way on purpose, to later "fall" behind and claim the exotic failed to yield their way..

 

Likewise for me as I also switched to Cincinnati Financial when I received my F8 - I switched from Amica when we did a general overhaul on our insurance program. Happy with the rates and coverage. No claims yet.



Sent from my iPad using FerrariChat

 

I insure all my cars with Cinci, so far I’m very happy. Rates are great, all my valuable cars are on agreed value, and the coverage is good. I lost one of my keys for my 812, I asked if there was coverage for it and there was. They just sent me a form, I filled it out, had the money to pay for it in my bank a couple days later. No fuss from them at all

 

I went through this search recently with my 458 Spider purchase. I had American Modern on my Porsche, and they were pretty good except on the Ferrari they wanted to limit mileage to 3k a year. I have ended up with Grundy. Both American Modern and Grundy do Agreed Value.

 

Is State Farm or Geico an option for exotics? I'm curious as to why they aren't mentioned in this post..

 

They wouldn’t insure an 812 when I was shopping a couple years ago. Looking back, not that I’d want them to

 

I had State Farm for my 458 Spider initially until I get my Grundy policy active. The drawback with SF is it was an ACV policy.

 

Just went through the process with my F8 spider and went with Haggerty. No one else wasn't willing to do an agreed value of 200k over sticker including Grundy. For me the annual cost about 1% of the car value with no deductible. That's with a clean record and living rurally in the northeast.

 

Usually they won’t insure and no agreed value policies (some states are an exception and will underwrite and/or have agreed value)

 

I have my 488 and a Aston Martin Vantage with State Farm...no issues and for me good rate,

 

I used Cinncinati for my cars (F8 Spider, Cayenne Turbo and Audi A6) and bundled with my homeowners insurance. Excellent rates (Colorado).

 

I have AIG. I have a 2020 F8 and 2018 488 GTB. Agreed value. I paid 30k over for the F8 and they let me include that in the agreed value. I'm 60, married, no kids in the house, multiple cars but not the house. I have uninsured/underinsured motorist for $500,000/$1,000,000 per person. Bodily injury per person $1,000,000 each. Property Damage $1,000,000 (need to look at that) $1,000 deductible. I'm way over insured, so your premiums will probably differ from mine by at least half depending on what you get. Surprisingly, the 2018 488 GTB is less than the 2017 Audi A4 per year and only $100 more than the 2020 VW Atlas, so the cost must be related to how much BI and PD I have. Maybe they use a national average per vehicle type/brand or something. It all depends on what you choose and your circumstances.