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Insurance for new 488 Spider

Discussion in '458 Italia/488/F8' started by Bojote, May 24, 2018.

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  1. Bojote

    Bojote Rookie

    Apr 22, 2018
    20
    Doral, FL
    Full Name:
    Jesus A
    #1 Bojote, May 24, 2018
    Greetings! first post here, Waiting for my first Ferrari (a red 488 Spider) that should arrive first week of July. I've been following progress in the my ferrari website, received my PIN, setup my account and I've been checking photos from the factory, very exciting... but while I'm waiting I'm also thinking about some important aspects of ownership such as insurance.

    I was a State Farm customer for 12 years and recently dumped them and switched to Progressive due to ridiculous and unreasonable rates. I now pay around $150/mo for my 2017 Porsche Turbo S and $120 for a 2018 Range Rover HSE with progressive. I believe those rates to be excellent compared to what I was paying with State Farm, unfortunately, I just noticed that in the pull down menu when you are trying to add a car to your policy there is NO option for "Ferrari". Is anyone here a Ferrari owner that uses Progressive? I know State Farm 'does' have the option to add a Ferrari, I just don't want to go back after dumping them!

    Whats the general consensus when it comes to insure a Ferrari? do people use 'specialized' companies or just the regular ones?
     
  2. MANDALAY

    MANDALAY F1 World Champ
    Owner Silver Subscribed

    May 23, 2013
    14,645
    AUSTRALIA
    Full Name:
    ANGELO
    #2 MANDALAY, May 24, 2018
    Cant comment as your in a different country but one item i would definitely consider in making a decision is how many years will they give you for a new replacement in the event of a write off.

    Mine is 3 years. The longer the better.
     
  3. rocketman

    rocketman Formula 3

    Oct 1, 2009
    1,487
    NY & Miami
    #3 rocketman, May 24, 2018
    Best to use a “specialty” carrier who will offer you Agreed Value coverage. You don’t want ordinary coverage that depreciates the cars value over time should you have a claim.
    Plenty of threads discussing the available carriers.
     
  4. Cigarzman

    Cigarzman F1 Veteran
    Owner Rossa Subscribed

    May 7, 2014
    8,208
    Sarasota , Florida
    #4 Cigarzman, May 25, 2018
    I’ve used State Farm for all my Fcars and my DD s. I had a claim with my old MBZ SL 63 a few years back for 53k. I flooded my engine going through deep water. My rates did NOT go up at all. The new 488 spider is about 1500 per year with no mileage exceptions. Best , Kirk.
     

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