Gang, I am researching possible insurance carriers for the 550 that I will eventually pull the trigger on (once I find the right one). My primary carrier won't cover Fcars. I hear a few names bandied about (i.e. Leland West, etc) but was wondering what the forum members like, use and would recommend. All responses appreciated. ketel
The search tool can be your friend. http://ferrarichat.com/forum/showthread.php?t=175019 State Farm has insured all of my cars (modern, exotic and vintage) except my race cars for 30 years. Good luck!
Here we go again. I will say what I always say when this thread comes up. Insurance is regulated by State. Therefore, companies are not consistent from State to State. One may be very competitive in Alaska and terrible in Hawaii. With F-cars, you usually have two choices, leverage other lines of coverage or buy from a specialty like Leland West, Hagerty or Grundy.
Wawanesa is good in California but only insures up to $85K value per car so likely not the best for a 550/575.
Yes, you are right. I bought my 456 for $92K, but since my other cars have been insured with Wawanesa, and did not want to change my insurance co, so I went ahead and insured my 456 at 85K.
I really need to point out that it's a good idea to have your homeowners and auto with the same carrier and buy an umbrella. Some of these specialty companies will only insure you for $100K/$300K or $500K at most. T-bone an Enzo or even a 430 at a club event and you are under insured, not to mention bodily injuries. It's also very important to read the policy and find out what you are getting for your money. Cheaper rates usually mean less coverage. Most common is the way a car is valued. ACV on a Ferrari, especially an older one, is a really bad idea. You want "agreed value." Some of these companies exclude track events. Others do not. Depends on what you are going to do with your car.
There are many companies out there that people will recommend and have recommended in past threads.. However I would like to simply indicate the two most well known insurance carriers for exotic cars: Hagerty and Grundy. www.hagerty.com www.grundy.com
I use Chubb and insured for mutally agreed upon price. Which is good since I bougt my 550 before the price drop. John
I use AGI Private Client services for all my insurance, including general liability. I think that the insurance on the 550 is about $1,200 for everything, including comp. Hope this helps. Dale
