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Insurance Mass.

Discussion in '360/430' started by POS0513, Feb 27, 2008.

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  1. POS0513

    POS0513 Rookie

    Feb 12, 2006
    10
    Topsfield, Edgartown
    Full Name:
    Paul
    #1 POS0513, Feb 27, 2008
    I am in the process of buying a 360 Spider and just got a shock. Called my insurance agent for an estimate of the annual premium on the car. I currently pay $1200 for an '07 Porsche Carrera S cab, $1200 for an '07 S550 and have been quoted $1800 for an '08 Porsche Turbo. Carrera. The quote for the 360 with $1000 deductible, assuming $170K valuation, was $6000. Collision and comprehensive were $5000 of this. Does anyone else have experience with insuring a 360 or 430 in Mass.? I have to believe that there was an error. Any suggestions on alternative?
     
  2. LookingForACure

    LookingForACure Karting

    Apr 9, 2006
    82
    Boston environs
    #2 LookingForACure, Feb 27, 2008
    Make a call to Liberty Mutual. I insured my 360 Modena (garaged in Somerville, no less...) with them for about $2400/year. Of course, I don't know what your driving record is like, so we may not be talking apples to apples....
     
  3. POS0513

    POS0513 Rookie

    Feb 12, 2006
    10
    Topsfield, Edgartown
    Full Name:
    Paul
    #3 POS0513, Feb 27, 2008
    Thanks for the reply. My driving record is very good. $2400 seems much more reasonable.
     
  4. Modenafan

    Modenafan F1 World Champ
    Lifetime Rossa Owner

    Dec 19, 2004
    12,069
    Moorpark
    Full Name:
    Jon
    #4 Modenafan, Feb 27, 2008
    I pay $1,100 annually with State Farm for my Stradale. Perfect record and $1,000 ded.
     
  5. jsanocki

    jsanocki Formula Junior

    Aug 30, 2006
    785
    NJ
    #5 jsanocki, Feb 27, 2008
    I'm located in NJ, which is right next to Mass in high insurance rates.....nationally I believe we are the highest though. Regardless, I carry a $500 deductible full coverage on my 360 Spider and pay around $1200/yr. I use NJM (New Jersey Manufactors) which is a great company which pays dividends back to its customers at the end of the year. The only catch was I have to take the car to a NJM authorized body shop...not a big deal because my local Ferrari dealership is on the list. And, should the car ever be totaled out, the max payout on the car is 150k....again, not an issue because I paid less then that when I bought the car 2yrs ago.

    Shop it around....
     
  6. modena1_2003

    modena1_2003 F1 Rookie

    Aug 17, 2005
    3,954
    Full Name:
    Jon
    #6 modena1_2003, Feb 27, 2008
    As far as I have heard, NationWide is one of the worst...

    Is there any insurance company that caters to Exotics in the same way Hagerty caters to Classics and collectibles?



    -J
     
  7. Full-blooded

    Full-blooded Rookie

    Nov 13, 2007
    29
    Maine
    #7 Full-blooded, Feb 27, 2008
    Move to Maine, I bought a 99 360 in Nov 07 . I pay $1010 for 12 months with $1000 deductable. Probably the only positve about living in Maine .
     
  8. vdb

    vdb Karting

    Jun 3, 2007
    118
    Indiana
    Full Name:
    Virgil DiBiase
    #8 vdb, Feb 27, 2008
    I pay $800/yr, with $1000 deductible for 99 360 with USAA, in Indiana. Of course, I have a multi-car discount.
     
  9. SDChris

    SDChris Formula 3

    Mar 8, 2006
    1,840
    Sioux Falls, SD
    Full Name:
    Chris
    #9 SDChris, Mar 2, 2008
    We refere to Jason Pond at HUB International! He is a FCA/LCA club member and sponsor, has no mile restrictions and many of our current customers insure with Hub!
     
  10. BigHead

    BigHead Formula Junior

    Oct 31, 2003
    995
    Outside of Boston
    Full Name:
    Dennis
    #10 BigHead, Mar 3, 2008
    Remember, in the People's Republic of Massachusetts, automobile insurance is completely and utterly REGULATED. The government sets all of the policy terms, and sets the rates. If you live in this town and you bought this car and you want this level of coverage, then you shall pay this much money. Same quote from each company.

    Thankfully, the current insurance commissioner has been on a quest to at least semi-deregulate this industry, so come April 1, there will be some competition on rates. But right now, you'll get the same quote for all the companies - they look it up in one master book (though you may save a few bucks if your company offers a discount to your "special association").

    Note that for CURRENT MA insurance holders, this de-reg may not take effect for YOU until such time as your policy hits its renewal date. You may want to look into that (possibly be forced to change companies) if you want to take advantage of discounted rates at April 1.

    vty,

    --Dennis
     

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