News

Ferrari Insurance Recommendations?

Discussion in 'Ferrari Discussion (not model specific)' started by mrmckay, Nov 28, 2003.

  1. mrmckay

    mrmckay Formula Junior

    Jul 14, 2003
    488
    MD, USA
    Full Name:
    Chris
    Can anyone recommend a good company w/ reasonable rates for insurance on a Ferrari. I currently have my insurance w/ USAA but they're starting to make me a little nervous. I've had an ongoing dialogue w/ their underwriters for almost a week and they've yet to give me a quote. I planned on taking delivery of a 2000 550 tomorrow but I fear that I won't be able to do so. This has caught me by surprise since I didn't have any problems insuring my 355 or 911 Turbo w/ them.
     
  2. ttforcefed

    ttforcefed F1 World Champ

    Aug 22, 2002
    10,088
     
  3. BWS550

    BWS550 Wants to be a mod

    Apr 1, 2002
    8,933
    NEW JERSEY
    Full Name:
    BRUCE WELLINGTON
    leyland west in cali

    very happy with them

    ask for andrea.......
     
  4. spike308

    spike308 F1 Rookie
    Silver Subscribed

    Nov 8, 2003
    3,852
    Austin TX!
    Full Name:
    Mike Z
    Maybe BWS88TR has an older policy with Leyland West...
    I got the paperwork from them (they had GREAT rates)...
    HOWEVER- they wanted me to list EVERYONE who would drive the car. I inquired about this... they said that if the car is wrecked by someone not listed, there is NO COVERAGE. I asked "what if the car is at the dealer getting fixed, they take it out and it is wrecked?" --- NO COVERAGE. I called my local dealer, asked what would happen if they wrecked my car on a test drive after service... they said MY insurance would cover it. So beware.... read the fine print.
    I am getting Hagarty for my 308. They have no such restrictions, reasonable rates.
     
  5. sparetireless

    sparetireless Formula 3

    Nov 2, 2003
    1,319
    I have heard only good things about USAA.
     
  6. BWS550

    BWS550 Wants to be a mod

    Apr 1, 2002
    8,933
    NEW JERSEY
    Full Name:
    BRUCE WELLINGTON
    SPIKE

    I HAVE NO TERMS LIKE THAT

    MY CAR IS COVERED BUMPER TO BUMPER 100%, WHOEVER DRIVES IT

    THERES NO RESTRICTIONS ON MILEAGE. JUST THAT THE CAR HAS TO BE IN A LOCKED GARAGE

    ITS ALSO INSURED FOR TOP/HIGH VALUE


    I PAY 814.00 A YEAR, IM MARRIED, OVER 40, AND NO PRIOR ACCIDENTS OR TICKETS....

    THANKS,
    BRUCE
     
  7. philh

    philh Rookie

    Sep 29, 2003
    25
    Just bought a 2003 360 Spider. Insurance with State Farm. Rate for the 360 is lower than any other car we own.
     
  8. G-force

    G-force F1 Rookie

    Aug 4, 2002
    3,053
    so california
    Full Name:
    wayne skiles
    I have USAA also. I just insured my 550 with them. It previously was a routine phone call to get
    coverage with them. I remember in 1987 or 88 calling to insure my 288 GTO told them I paid 205 k. they were cavalier about it and said "your covered".
    Now all Ferraris have to get underwriters approval.
     
  9. ttforcefed

    ttforcefed F1 World Champ

    Aug 22, 2002
    10,088
    phil, there is a reason for that...what levels of insurance do u have? 50k? 100k? Also, State Farm does not have an agreed value policy...so what does that mean? that you get a number alot smaller than your car is worth if u total it....chubb will give you $1 million across the board and an agreed value and its well worth it...unless State Farm has changed, i would run away from them like the plague.
     
  10. Tyler

    Tyler F1 Rookie

    Dec 19, 2001
    4,274
    dusty old farm town
    Full Name:
    Tyler
    Agree with Ricky Nardis, Chubb is the way to go.
     
  11. FerrariFrank1

    FerrariFrank1 F1 Rookie

    Aug 15, 2003
    3,887
    Chicago-Phoenix-L.A.
    Full Name:
    Frank
    We have an "Agreed Value" Policy,with State Farm. No driver limitations,Married,over 40,no tickets or accidents,car has a security system,and a hidden "Kill Switch",kept in a locked,secure Garage. We pay $145.00/6 Months for Full Coverage,100K/300K liability,etc...Road Service for a Flatbed Tow. But,that is if we only drive it less than 3500 miles per year,which we do.(Shame on me! But,I have several cars,including a 'Vette,that share the mileage) If we drive OVER 3500 miles per year,it only goes up to about $325.00/6 Months,same coverage.
     
  12. ttforcefed

    ttforcefed F1 World Champ

    Aug 22, 2002
    10,088
    yup, $100K and $300K is way to low in my opinion....chubb is one of the few who will write $1M, and even that is on the low side...
     
  13. scott63

    scott63 Formula Junior

    Nov 1, 2003
    393
    I have USAA also, but remember, you have to be an active duty or former military officer or spouse of military officer to get it...
     
  14. WILLIAM H

    WILLIAM H Three Time F1 World Champ

    Nov 1, 2003
    34,891
    Victory Circle
    Full Name:
    HUBBSTER
    Accordia targets the FCA, I believe they also state they cover any track incidents at FCA or FOC events
     
  15. Steve Darrah

    Steve Darrah Rookie

    Nov 5, 2003
    35
    Midlothian, Virginia
    Full Name:
    Stephen C. Darrah
    I have had all my auto insurance with USAA for many years. Good company, service etc. However, the car insurance business is now a lot more competitive. Check out Ellington Assoc. at 1-800-616-5510, ask for Angela.They insure through Chubb and will be very competitive with USAA for the same coverage-and will insure your Ferrari for replacement value, will cover track days etc.
     
  16. whart

    whart F1 Veteran
    Honorary

    Dec 5, 2001
    6,485
    Grandview NY
    Full Name:
    Herr Prof.
    Chubb ain't cheap, but you do get what you pay for. A savvy agent can help you get collector car treatment with reduced rates and no mileage cap.They don't seem to be in the business of hondling their clients when an event arises. Since you pay the premium for coverage in case of an " event," its good to know that they actually do their end when the occasion arises. I have dealt with a number of companies who take the money, but when it comes time for them to part with it, its a struggle. Not worth it, particularly when you consider why you are paying them in the first place.
     
  17. G-force

    G-force F1 Rookie

    Aug 4, 2002
    3,053
    so california
    Full Name:
    wayne skiles
    Scott that was a LONG time ago!! They have been taking enlisted for years.
     
  18. judge4re

    judge4re F1 World Champ

    Apr 26, 2003
    13,234
    Never home
    Full Name:
    Dr. Dumb Ass
    Chubb is the way to go. Especially if you also have an art collection or jewlery. Very easy to deal with and top notch in their field.
     
  19. mw575

    mw575 F1 Rookie

    May 30, 2001
    2,924
    Lake Oswego,Or
    Full Name:
    Martin J Weiner,M.D.
    have been insured by USAA for 30 plus yrs.IMO best ins co in the USA.
    All my cars including '03 575 was covered with just a phone call.
    I wonder if the delay may be due to other factors?(driving record etc?)
     
  20. mw575

    mw575 F1 Rookie

    May 30, 2001
    2,924
    Lake Oswego,Or
    Full Name:
    Martin J Weiner,M.D.
    correction--"were"covered.
     
  21. G-force

    G-force F1 Rookie

    Aug 4, 2002
    3,053
    so california
    Full Name:
    wayne skiles
    They probably are one of the best..but have a major loss and I think they are just another insurance company.I've been with them since 1967, I had a Rolls P5 stolen years ago and had to take them to arbitration and still came up short!
     
  22. 355fiorano

    355fiorano Formula Junior

    Oct 21, 2003
    773
    London
    Full Name:
    Philip
    ALthough I am in Europe and I am not familiar with USAA I have my insurance with CHUBB and they are fantastic in terms of what they cover, how they cover it, service and no quibles claims. I recommend them 100% .
     
  23. Napolis

    Napolis Three Time F1 World Champ
    Owner Honorary

    Oct 23, 2002
    32,118
    Full Name:
    Jim Glickenhaus
    I agree totally.
     
  24. Tennlee

    Tennlee Formula Junior

    Feb 10, 2002
    645
    Great Smoky Mountains
    I use SF for all my cars including the Ferrari for years. No problems. Haven't wrecked a sportscar yet, though ;).
     
  25. Tennlee

    Tennlee Formula Junior

    Feb 10, 2002
    645
    Great Smoky Mountains
    I use SF for all my cars including the Ferrari for years. No problems. Haven't wrecked a sportscar yet, though ;).
     

Share This Page