Ferrari insurance

9 grand per year!
We have Safeco, and the premiums are about a sixth of that for our Cali, which is a 2011.
Premiums may reflect your age, where you live, whether you are bundling home & auto, etc. But, that seems high...T

 

That last is what is costing you. The teen is probably forced to be listed as a driver of the Ferrari.

 

call pure - DM if you want a referral

 

I’m an oldie, my premium is £480.00 pa multi car policy, 2 Ferrari’s and an s63 AMG
Why is your insurance $9K ? Wow

 

Thats 101 stuff - gotta move every 5 yrs


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We discovered likewise. Just make sure the coverages are similar...T

 

In the UK the ferrari owners club has a deal with lockton who broker a specialist chubb insurance, if you are a member of ferrari owners club in your county give them a call. The price is was quoted on the insurance was far less expensive then any others and far more comprehensive

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Hi,
First post

I used to drive a Ferrari, a few years ago (a wonderful 456M). I have set my mind on buying a Portofina and just got a quote back from Geico. They are quoting me a $6.6K increase per year over my Maserati Gran Turismo (I currently live in California).

Carthusiast, any chance you could share who you ended up with for your car? I am going to shop around for sure but would appreciate any recent feedback on the costs/experience/quality of insurance.
Many thanks,
Chris

 

Wow! I insure my Cali T with Geico -- with high limits due to my umbrella policy (250/500) -- and it's $1300 per year, or about the same as for my other car, a leased 2020 Alfa Romeo Guilia.

 

I have been with State Farm for decades. I pay $ 1100/year for my Portofino with an umbrella policy.

 

Is it fair to assume non of the stated premiums above are for "Agreed Value" policies and, if not, why aren't folks looking into that type of policy ?

 

All my vehicles are on an agreed vehicle value, you would be bonkers not to as the book price on a California in the UK at least £30k less than you can actually purchase a car anywhere.
I have also just this last week reviewed the insurance values and INCREASED the value of the California as the UK prestige car market has gone bonkers and the values are up £10K on last year!

Cheers Andrew

 

A lot of the big insurers in the US will not write agreed value policies. In my past experience dealing with a totaled low mileage Porsche 993, which had an absurdly low book value at the time but was worth far more, I was able to negotiate the settlement with the insurance company by providing online ads from dealers and private parties demonstrating a much higher value, and they wound up paying me more than I actually had in the car. That may well vary with insurers and the state you happen to reside in, however.

 

I live in Romania. Just so you don't feel bad about your contracts, I went to all insurance companies when I tried to get an offer for my 2020 Portofino. 4 out of 7 companies just said: "No, we don't sign contracts for such vehicles!" One said 15k EUROS/year, one said 14k, the third one 9k. So yeah, I pay 9k EURO/year, which is 10k USD give or take. And that's for just one car. I pay 2.5K on top of that for my 2015 BMW x5.

 

I had State Farm and it was VERY reasonable in Georgia...

 

I really can't agree with you. I've been following the California market for about 18 months, waiting for the right one to come along, and the prices have gradually been falling. When I started looking the type of car I was looking for was around £80k, now it's around £65-75k. I've even seen a couple under £60k in the last few weeks.

I can't believe the staggering US premiums being talked about here - I got a quote for about £650, which I thought was OK, but I'm very impressed by the multi-car premium you mentioned in an earlier post. Which company is it with?

 

You need a specialty company that insures exotics and vintage cars.
Most "big name insurers" have someone they work with for this.

 

Insure the Ferrari separately from the other cars to get away from the teenage driver. Geico was very accommodating to do this and my 2019 Portofino was very reasonable to insure.

 

As I found out. State in which it will be registered, who's a driver in the household matter & vary a great deal .

I think NY (lower) it's worse. I have USAA for the longest time for 5 - 6 cars as I rotate . Last month when I picked up an '21 812 gts they wanted over $10k a year for it (the '20 812 sf was $5k / year !?) . A few other carriers said not interested . Hagerty came in at $5k per year with restrictions , but since I am also giving them 2 other sports cars the savings will be a total of $8k per year so I could live with those restrictions , for now.

I might consider @ttforcefed suggestion and shop the policies out more often rather than be a loyalist.

 

I went through Grundy agency and they hooked me up with Cincinnati insurance company on a declared value policy.
A 2014 458 spider with stated value of $220,000 is only $955/year $2000 deductible. This is about 30% cheaper than geico.

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BHMSOCCER, I tried but it seems that in California you have to register all the drivers in your household, even if you're not planning to let them drive the car

 

Geico quoted me 1500/yr for a 2016 Cali T (was just researching) in California with 500 deductible. But they don’t pre-determine car value.


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