Insurance on Ferrari

What state do you live in, how many miles do you intend to drive each year, when will you drive it, where will you drive it, where will it be stored?

Entirely different world than driving a Porsche. If you are going to regularly drive the FF, then most likely you will want to stay with your current company, assuming you are happy with them.

 

Every time we have one of these a lot of people say they have State Farm. Check there first.

A lot depends on you, your driving habits, where your car is kept, your location, and how many miles you intend to drive.

IMO, Ferrari rates aren't much different than most other expensive luxury cars. I bet more Mercs get totaled or smashed than Ferrari's per mile driven. I don't recall anyone saying Mercedes parts are "cheap".

 

I am with State Farm.

You can get all kinds of coverage.

Your rate is based upon your ZIP code, and your Credit score, among other things...an FF should be easy!

 

I live in south Florida and I'm with State Farm. I pay about $125-150 month on a 07 430.

 

The Hartford.

Ferrari is our fifth car, and the cost is really no different than the other four, with full coverage.

Never requested a stated value policy.

 

No kidding? I have my house and some other cars with The Hartford but when I called them to insure the F-Car I was told that they don't insure exotics. Strange...

Have the Ferrari with State Farm, which I had just left to go to The Hartford.

 

+ 1

 

Liberty Mutual for me.

 

I was surprised myself.

When I called to add it to the policy, the person taking the call barely spoke
English and seemed to know nothing about cars: had no clue what my car was, other than just another car.

Still, you'd think there'd be softwear or something on their end to guide her.

 

All say this/that insurance is good for this/that amount but try to find out out actually what happens when the crap happens ... do they have a cap on labor hourly rate?, would they let you take it to your choice of body shop?, etc.

 

yes, state farm for me here in Texas... I surprising pay less for my 2005 f430 than I do for my 2014 e-class merc.. Mine is under $500 for 6 mouths.. over 55 with no tickets or accidents on records..

 

Lifelong USAA member, as career military. Not as good as it once was when it was restricted only to commissioned officers, but still significantly better than average. We pay
~$70/mo for our 04 360. We're way out in the sticks and that helps the premium. (Other advantages: No smog checks and challenging mountain roads if I get fetch and tote orders from the wife.)

Only one claim for the 360: windshield. Immediately advised to have the car repaired at my choice of shops. Hassle free, which has been my experience with USAA over the years.

Good luck.

 

Totally agree. Shopping for insurance by price is a losing strategy, which is why every time this topic comes up I make my pitch for Chubb.

 

I just checked. I pay $100/month. It's listed as less than 7K miles/yr. There is no lower premium for say <2500 miles a year.

I have a motorcycle and a daily driver with them also. Hell I even have a scooter.

 

2 claims with Liberty Mutual, smooth as butter, take car anywhere
and on the Vette, as I found things wrong, like wheel bearings,
they just cut another check without any hassle......

So yes, low rates are one thing, but how they handle a claim way more
important.

 

the agent can come into play, especially if the agent has a poor loss record

 

I use State Farm as well. Rates are good and I had one really big claim. No injuries but totaled my Lambo. It was not at fault and they paid off a fair value and my rates did not go up. It was a one car accident but another car ran me off the road. That car left.

 

A friend just got a 360, and he asked me. Said Hagerty quoted $4K. Wow!? I have Chubb too.

 

I inquired to Hagerty 6 years ago when I bought the 430. They implied that they only covered specialty cars that are rarely, if ever, driven.

IOW they didn't want to insure me.

 

I recently purchased a 2013 Gallardo and called Hagertys for a quote since Liberty, who I have had for the longest time, told me that they don't insure Lamborghinis. The Hagerty rep wanted to know if I have experience driving/owning high performance sports cars. I told him that I have owned various Porsches and currently have 911 C4S. He suggest that I wait a year before they consider insuring me as I don't have experience owning/driving a high performance sports car. I am mid 40's, clean driving record, etc, so I guess I am not skilled or responsible enough for Hagertys to drive a Lambo. I ended up getting insured by Grundys. Great rates and easy to deal with.


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$1400 for 6 months on 2014 458. USAA for Austin never a claim.

 

I have been using Grundy for a few years now. Started using them with my 02 Z06, now with the 91 Porsche. Agreed value. Unlimited mileage. I pay about $350/year on the Porsche with agreed value of $60k. They have a "Modern Classic" program for "newer" classic/collectible cars. The only caveat I have found is that you must have a "normal" car insured on a traditional policy and that you garage your collector/classic vehicle. I have a 3-series BMW insured with Geico as my "normal" car. Grundy's rates and service are excellent. I haven't had a claim on any of my cars, however.

 

I use grundy their rates were very attractive much better then Hagerty and they have a plan that lets me drive my F12 unlimited mileage and still insured for a specific value..