430 Insurance rate comparison

I always find it interesting to see what the rates are around the country. I had insurance quotes for several different vehicles recently with my insurance group. The quotes between $1200 and $1500 were what I was getting for a Ferrari f430 Ferrari California and a maserati Granturismo. Ironically I was quoted $880 a year for a Hellcat. When asked why the price discrepancy they said the Ferrari’s had too much power......... I’d have bought the explanation if it was they because too big of a distraction and a higher risk for accident but too much power? Ha I say!

 

My understanding is that rates are driven by history of losses. In the Hellcat vs Ferrari, the Hellcat must have a history of fewer losses. Nothing to do with power. A 20 year old male driving a clapped out pickup will have far higher rates than an old man in a 200K Ferrari for the liability portion of the premium. Maybe I am wrong? Surely an Ins expert can clarify this.

 

Right at $1200 annually for my 360 with $85k agreed value through Safeco with a $250 deductible and "standard coverages". Higher deductible didn't really change the premium that much so just left it low. Just saw I have "Enhanced Coverage" if I decide to go on a roadtrip to Mexico....not.

$2500 annually for my two DD through a separate company...

 

I just thought it was an interesting answer to my question when I noticed the discrepancy, especially considering the Granturismo and both Ferrari’s were pretty much the same quote. I guess I don’t consider the Granturismo quite the same as a Ferrari but it was just odd to me. Overall the actual amount didn’t bother me and it was actually less then I assumed.

 

The reason for the lower rates on the Hell Cat is for the cost of repair. Parts are much cheaper for an American mass produced body style vs a limited run Italian car. I asked my insurance agent why my wife's 2016 Mercedes insurance rates didn't drop after owning it 4 years and its worth less than half of what I paid for it. He told be that it still cost the same to repair it as a new one. Most insurance claims are not for total losses it for repairs.

 

About $1200/yr for the 360 Spider, but also have other collector vehicles and daily drivers on the same policy; Private Client Program from Grundy.


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