Just wondering what a ferrari 348 ts/tb would cost on insurance ? Within 3 years or so, I plan on buying one. I'll be 30 years old, no accidents so far. Car will be used only on weekends during the summer. I could also put it under one of my parents name too. How much you guys paying ? thanks
Call your insurance company and ask them for a quote and if your going to be 30 it will not matter if you put it under mom and dad account. Insurance is not the issue that you should be worried about, but you should be worried about the cost it will be to maintain a Ferrari.
I had a 328 and set aside 2k per year for services and 6 months of driving insurance. Parts alone can run into thousands of dollars and you then have the major service which they recommend every 3-5 years and this will usually cost 6k-8k (US DOLLARS). I sold my car because of the service cost, IMO no car is worth what they charge. I invested the money and invest that 2k per year and I am having more fun traveling. I don't regret owning it, but I will never buy another one.
I currently pay $800/year on my 92 348 ts; 36 y.o. and no accidents (San Diego). When I lived in Ontario I found the insurance rates to be a little less expensive than the US; but they vary regionally and metro Toronto will carry a premium. Call your insurance carrier and get a quote - there are too many variables to use other members premiums as a benchmark. Like Mark said, insurance isn't the issue you need to be concerned with - yearly maintenance costs and fuel are going to be several times more than your insurance bill. Many Ferrari's are sold right before the major service because the current owner doesn't want to spend the money - which means you will, or risk a timing belt blowing up and costing $12,000+ to repair the engine damage. I'd say have at least 5K available for maintenance prior to purchasing the car and then a minimum 2K/year, with a further 5K every 3 years/30,000 miles for the major engine-out belt service (USD - probably more in Toronto). If you end up spending less, that's great - but I think most owners will agree they wound up spending more than they initially counted on.
Ditto here, almost. I pay around $750 per year for my 89 348 with Allstate in South Florida, and I would say the extra $5k is every 5 years even though the factory NOW recommends the major service every 3 years. My mechanic says the major still only needs to be done every 5 years. I trust him more than the factory which seems to be either generating additional revenue from services / parts or just covering themselves from the rare potential failure at the 3 year interval. Good luck! BT
Insurance $763/year. $350 for dealer oil changes. Parts are expensive, but I still think it's worth it. Surprisingly, Insurance was the ONLY thing related to Ferrari ownership so far that I found to be quite reasonable. Good luck!
$660/year for a 89 Mondial t Coupe, multi-car discount plus HO with State Farm. More reasonable than I thought. -Peter
$696 per year for full coverage collision/theft/comprehensive/liability/uninsured motorist/etc...$450 deductable on my 1994 348 Spider. No limits on mileage. No restrictions against track use. No restrictions against business use. No restrictions against Canada and Mexico travel. Met Life rocks (hey, they do more than just life insurance)!
