Insurance - the past comes to haunt | FerrariChat
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Insurance - the past comes to haunt

Discussion in 'New York Tri-State' started by kenny1022, Mar 14, 2008.

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  1. kenny1022

    kenny1022 Formula Junior

    Feb 10, 2008
    261
    Full Name:
    Kenny
    #1 kenny1022, Mar 14, 2008
    Boys:

    I'm ready to drop the hammer on a 360 but I cannot get insurance for the life of me - called NJM, Liberty, Geico. NJM and Liberty insure Ferraris but given my less-than-stellar record can't get insurance for the life of me. Should I just wait until my last incident drops off (1 1/2 years for my 3 year look-back to be clean)? Don't want to hold off but am I S.O.L.?

    Thanks.

    K.
     
  2. Black355

    Black355 F1 Veteran

    Feb 3, 2004
    5,255
    10036
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    Emil
    #2 Black355, Mar 14, 2008
    Call Hagerty. See if you can get a limited use collector policy.
     
  3. jhsalah

    jhsalah Formula 3
    Silver Subscribed

    Apr 10, 2006
    2,409
    Philadelphia, PA
    Full Name:
    Jawad
    #3 jhsalah, Mar 14, 2008
    +1 Great suggestion.

    I had them on the 308 (didn't have a bad record but they were easy to deal with anyway)
    Good luck.
     
  4. kenny1022

    kenny1022 Formula Junior

    Feb 10, 2008
    261
    Full Name:
    Kenny
    #4 kenny1022, Mar 14, 2008
    Haggerty said no and i thought finding the perfect car was tough...anyone have an agent I can appeal to?
     
  5. Black355

    Black355 F1 Veteran

    Feb 3, 2004
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    Emil
    #5 Black355, Mar 14, 2008
    Does your mom need a Ferrari?
     
  6. DodgeViper01

    DodgeViper01 F1 Veteran

    Oct 1, 2003
    6,867
    #6 DodgeViper01, Mar 14, 2008
    Unless your record is HORRIBLE and I mean REALLY REALLY BAD, Statefarm or Progressive will take you.
     
  7. kenny1022

    kenny1022 Formula Junior

    Feb 10, 2008
    261
    Full Name:
    Kenny
    #7 kenny1022, Mar 14, 2008
    Black:

    I hear you. I think that's the best way to go. Something about my mom being involved in this purchase just doesn't feel very growns up...

    Thanks again.

    K.
     
  8. kenny1022

    kenny1022 Formula Junior

    Feb 10, 2008
    261
    Full Name:
    Kenny
    #8 kenny1022, Mar 14, 2008
    Game on! Progressive has a very unique policy: $689 when I'm not driving it (6 months) & $1012 when I am - state & comprehensive (6 months).

    If I want to drive the car one weekend if its nice out in Winter, I just need to call them to turn back on the full coverage. Anyone know anything about this type of policy?

    Thanks again for the help.
     
  9. JOEA2

    JOEA2 Formula 3

    Feb 2, 2006
    1,225
    Staten Island, N.Y./ Sea Girt,N.J.
    Full Name:
    Joe A
    #9 JOEA2, Mar 14, 2008
    Another way is to contact your "Homeowner's" policy holder. They are generally more receptive. Good luck!
     
  10. DodgeViper01

    DodgeViper01 F1 Veteran

    Oct 1, 2003
    6,867
    #10 DodgeViper01, Mar 14, 2008
    Glad to hear that it worked for you. Policy sounds great!
     
  11. jsanocki

    jsanocki Formula Junior

    Aug 30, 2006
    785
    NJ
    #11 jsanocki, Mar 14, 2008
    Friend of mine had a similar policy.... its a good alternative from a cost prospective considering the rates you were quoted. But just to rub it in let me tell you how I insure my 360 Spider through NJM around $1000/yr with full coverage, and bumped up limits :) Sometimes it pays to be in the slow lane!
     
  12. 76Steel

    76Steel Formula 3

    Sep 8, 2007
    1,482
    New Jersey
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    Mike
    #12 76Steel, Mar 14, 2008
    Try also classic auto insurance - great company and rates are super
     
  13. Bavarian Motorist

    Bavarian Motorist Formula Junior

    Apr 10, 2007
    943
    Westchester/NYC
    Full Name:
    Mike
    #13 Bavarian Motorist, Mar 15, 2008
    Progressive will insure anyone :p Just at really high rates.



    $500 a month for my Lotus Elise....wheeeeeeeeeeeeeee!!!!
     
  14. peterp

    peterp F1 Veteran

    Aug 31, 2002
    6,687
    NJ
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    Peter
    #14 peterp, Mar 16, 2008
    Who are you insured with now? A while back I had difficulty adding a Maserati to my policy and I received a reply on fchat that there is an NJ law that requires your insurer to cover ANY car you add -- it doesn't mean they have to insure it at a reasonable rate, but they have to cover it. I never verified this, nor have I heard this anywhere else, but probably it's worth checking into if you have an existing policy.
     
  15. peterp

    peterp F1 Veteran

    Aug 31, 2002
    6,687
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    #15 peterp, Mar 16, 2008
    Just did a search and realized the note about the law came from a Maserati forum, I've cut & pasted the post from the Maserati forum thread below:

    I see you've been taken care of by your existing company, Liberty Mutual. That said however, maybe this can help for "next time" or for any other reader here from NJ. I went through incredible hoops the day I was to pick up my '04 CC several years ago and ultimately discovered that there is a law in NJ that prohibits insurance companies from denying an existing customer coverage for a car being added to the policy. So for anyone else out there in this situation, don't get sucked into any discussion about the "why's" and "wherefore's" as to whether the company provides coverage when you can now know going into it, that they absolutely MUST provide the coverage and start limiting the discussion to the matter of rates and types of coverage.
     
  16. kenny1022

    kenny1022 Formula Junior

    Feb 10, 2008
    261
    Full Name:
    Kenny
    #16 kenny1022, Mar 18, 2008
    Thanks for the NJ law update it was a BIG help!!! Contacted AIG my insurance co. for my jeep and informed them of the law. After doing researching they told me you were right, AIG insures Ferraris in NJ along with 3 other states. With a $2000 deductible, I was able to get a 6-month policy for...$1014!
     
  17. Bavarian Motorist

    Bavarian Motorist Formula Junior

    Apr 10, 2007
    943
    Westchester/NYC
    Full Name:
    Mike
    #17 Bavarian Motorist, Mar 18, 2008
    $2000 deductible? Jesus...
     
  18. mclc26

    mclc26 Formula Junior

    Apr 27, 2006
    250
    Long Island, NY
    #18 mclc26, Mar 19, 2008
    May want to check out one of those 'safe driving' type courses...Completion of the course will typically result in benefits from your insurance company (lower rates, etc.)
     

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