News

Merged: What insurance company do you use to insure your Ferrari?

Discussion in 'Ferrari Discussion (not model specific)' started by Mike328, Feb 3, 2004.

?

What insurance company do you use to insure your Ferrari?

  1. State Farm

  2. Progressive

  3. Geico

  4. Allstate

  5. Nationwide

  6. USAA

  7. Chubb

  8. Grundy

  9. Hagerty

  10. Leland West

  11. Thum

  12. State Auto

  13. 21st Century

  14. Direct General

  15. Other (specify below...)

Multiple votes are allowed.
Results are only viewable after voting.
  1. ghost

    ghost F1 Veteran
    Lifetime Rossa

    Dec 10, 2003
    9,857
    Singapore
    For those that have GEICO, could you comment upon how they have treated you. Given my particular situation (live in NYC, no second car, etc., etc.), they seem to be offering the best insurance, but would like to hear from others that use them (all seven of you that voted! :)).

    Thanks.
     
  2. To remove this ad click here.

  3. Steve King

    Steve King F1 Rookie

    Feb 15, 2001
    4,366
    NY
    Just got my insurance bill for 2004 today. I use "American Collectors Insurance inc." (americancollectors.com) and here is the coverage and cost. This is for 1 year.
    - Bodily inj. & prop. damage liability $250k/500k/100k
    -Uninsured $300k
    -O.B.E.L. $25k
    -Comp. 0 ded. agreed value $31k
    -Collision 0 ded. full value $31k
    -towing and labor 25.00
    -spare parts 500.00

    Cost is $267
     
  4. ghost

    ghost F1 Veteran
    Lifetime Rossa

    Dec 10, 2003
    9,857
    Singapore
    Just so you know, I'm paying more than 10x that. It sucks to be young, single, and living in New York. Wait a minute...what am I saying! :D But seriously, I can't believe how outrageously expensive it is to have insurance if you live in the City and don't have a second car.
     
  5. Bobert

    Bobert Formula Junior

    Jan 17, 2004
    277
    Oak Hill VA
    I have been with USAA for over 30 years. Each of my daughters has one speeding ticket, (no accidents!) and two years ago I grazed the side of a guys Volvo with a Caddy loaner car...total damage to him $1200 to repaint two doors. I paid for the repaint out of my own pocket for the bumper of the Caddy ($283). First at fault claim in 25 years with them ...my only other accident was in 1975. Total lifetime speeding tickets 3 for me. Last one was 7 years ago. I own F-355 plus 3 Vettes, Viper GTS others....Total of 11 vehicles insured with them including two kids cars (kids are 23/20 both girls). When my claim hit they raised our rates by moving me into the "next class". I have paid in thousands to them for insurance...but they immediately raised rates claiming state of Virginia allowed them to do it.

    I sell Real Estate in Northern Virginia...we are seeing the same problem with all companies when folks have made a homeowners claim in trying to get new insurance.

    My point in this is before you even call your company to ask any question about your policy, coverages, or to report an accident...be careful because they are tracking everything and a simple call can cost you thousands...when you could pay for it yourself. I am beginning to wonder why we have insurance any more...unless it is a major claim...they are just taking our money.
     
  6. Mike328

    Mike328 F1 Rookie
    Rossa Subscribed

    Oct 19, 2002
    2,655
    Boulder, CO
    Full Name:
    Mike
    Back to the top... Vote if you haven't yet ;).

    --Mike
     
  7. To remove this ad click here.

  8. bernardo66

    bernardo66 The Crazy Cat Man
    Moderator Owner

    Dec 14, 2003
    21,822
    Montreal Canada
    Full Name:
    Bernie
    I just switched insurance company this year, and am now with the Silver Wheel Plan, which specilizes in collector and vintage automobiles.

    deductible: 100$
    replacement value 46 000$
    liability: 1 000 000$


    premium.......400$

    Keep in mind, that this is in (humble) Canadian dollars.

    Plus...they are allowing me to remove my Boomerang II (satellite tracking) alarm system, which ING (former insurance) obliged me to install, and which has been going off repeatedly in the last two weeks. This also represents a savings of 200$ annually.
     
  9. tubeguy

    tubeguy Formula 3

    May 21, 2003
    1,036
    Upland California
    Full Name:
    Kevin Deal
    Firemans Fund...wayyyy cheap...no "must be garaged" or mileage limits. But they want ALL the cars you own to do this.
     
  10. REM9

    REM9 Karting

    Jun 17, 2001
    175
    Finger Lakes NY, USA
    Full Name:
    Russ Moore
    I use JC Taylor for the two Ferraris I have in addition to the 12 other non-F cars. Rates are pretty good and service is excellent. I have used them for some 15 years, had 1 claim and it was handled very quickly and professionally. I recommend them.

    Russ
     
  11. Smiles

    Smiles Moderator
    Moderator Owner

    Nov 20, 2003
    14,775
    Pittsburgh, PA
    Full Name:
    Matt F
    The recent post on Hagarty speaks really highly of their service, and their prices can't be beat.
     
  12. To remove this ad click here.

  13. Ron328

    Ron328 F1 Rookie
    Silver Subscribed

    Mar 10, 2003
    2,584
    Willamette Valley, Oregon
    Full Name:
    Ron
    $488/6 mos, Country Mutual (based in Bloomington, IL), '89 328.
     
  14. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
    Rossa Subscribed Owner

    May 4, 2001
    31,738
    Birmingham, AL
    Full Name:
    Tommy
    I'm with State Farm
     
  15. branko

    branko F1 Rookie
    Owner

    Mar 17, 2003
    3,710
    Birmingham, Alabama
    Full Name:
    Branko Medenica
    Me too. I pay about 270.00 every 6 months with 1000.00 deductable.
     
  16. RumorDude

    RumorDude Formula Junior

    Dec 16, 2003
    507
    Woodinville, WA
    I've used chubb for several years now and pretty much put everything i can under them. they re pretty much the only company that will even bother insuring some of my vehicles without milage restrictions and the like. It's nice and they're cool.
     
  17. superyota

    superyota Formula Junior

    Mar 29, 2004
    349
    Newport Beach
    My new 360 should be here in 4-5 weeks and I need to shop for insurance. I am 26, single, have my house with farmers. 2 points on my record for an over 100 mph ticket 3 years ago (stays on my record for 7 years) but I havent gotten any tickets since, no accidents. Live in Orange county CA (newport). Any suggestions on what insurance company to go after and what my rates will be. I have another car as my daily driver. I have a feeling the rates will be very high.
     
  18. Mike328

    Mike328 F1 Rookie
    Rossa Subscribed

    Oct 19, 2002
    2,655
    Boulder, CO
    Full Name:
    Mike
    Well this sucks! I decided to give Hagerty a call to quote my new 87 328 GTS (arrives today!).

    Bottom line is, for 85 or newer cars, I was told they won't write a policy unless it has a 2500 mile per year mileage restriction! They "weren't set up for that kind of risk"!!!! Cars older than that are apparently insured in a different manner and don't have mileage restrictions.

    Well that was frustrating.

    The representative was nice, though. He also said something about "Stated Value Policy" NOT being the same as an "Agreed Value Policy," and then explained. Agreed Valued is, we pay you the agreed value if the car is totalled. He explained Stated Value as what I just went through with a totalled car under REGULAR POLICY with State Farm--the "Market Value" and the Kelly Blue Book / NADA / CPI prices. I'm not sure if he knew what he was talking about or not...
     
  19. mr308gtb

    mr308gtb Formula Junior
    Rossa Subscribed

    Sep 12, 2004
    569
    Full Name:
    MeestahBig
    I have one 4 point tickets so most of the standard guys are a no go for me. i.e. Leland West, Grundy, Hagerty.... does anyone deal with a carrier that can price the risk.

    thx.
     
  20. scott1967

    scott1967 Karting

    Jul 12, 2004
    148
    Tampa, FL
    Full Name:
    Scott
    I use Farmers. I have no points, but I find them very reasonably priced and I recieve a multiple car discount.

    Good luck. Scott
     
  21. The Mad Hatter

    The Mad Hatter Formula Junior

    Feb 27, 2004
    257
    Maryland
    Full Name:
    The Mad Hatter
    I use State Farm and back in 1993 when we first moved into the People's Republic of Maryland I unknowingly drove past a school bus (it was a cement-divided median with trees and grass and the bus was on the other side of the divider!) and was "informed" by the officer that I just landed a $365 3-point ticket...my State Farm stuff NEVER changed...I still think I get raked over the coals by them monthly though...call Geico...the gecko is cool :D

    Cheers,
    Travis
     
  22. funshipone

    funshipone Formula Junior

    Jan 2, 2002
    618
    Harrison Twp. Mi. US
    Full Name:
    John Bicsak
  23. RacerX_GTO

    RacerX_GTO F1 World Champ
    Silver Subscribed

    Nov 2, 2003
    12,051
    Oregon
    Full Name:
    Gabe V.
    I use whoever keeps the lowest price, when I get that envelope about "Due to the rising costs of..." they get dropped. I find another. I'm not interested in games, just give me the straight scoop. Company names do not mean a thing to me, because insurance companies all operate on the same frequency. I'm very put out with the neccessary evil of insurance.
     
  24. Erich

    Erich Formula 3

    Sep 9, 2003
    1,138
    Poway CA
    Full Name:
    Erich Coiner
    No points

    USAA
     
  25. garysp7

    garysp7 Formula Junior

    Mar 28, 2004
    436
    Florida
    Full Name:
    Gary
    I use allstate.
    Here in Florida, it is a ***** finding good insurance.
    Allstate seems reasonable. I pay $900 per year for a 2000 55o with a 1000 deductible.
     
  26. Artherd

    Artherd F1 Veteran

    Jun 19, 2002
    6,588
    Bay Area, CA
    Full Name:
    Ben Cannon
    "I pay $900 per year for a 2000 55o with a 1000 deductible."


    wow, that's very good for comprehensive.
     
  27. Morrie

    Morrie Karting

    Nov 4, 2003
    207
    Sarasota/Asheville
    GEICO takes part of the premium that you pay and uses it to buy laser guns for police departments. One ticket will get you a healthy price increase from GEICO.

    The last time I dealt with GEICO, which was ten years or so ago, the company refused to insure any car with a turbo. \
     
  28. M.James

    M.James F1 Rookie

    Jun 6, 2003
    2,721
    Worcester, MA
    Full Name:
    Michael.C.James
    I use Progressive, and I probably have the worst driving record in FerrariChat, hands-down.

    No comprehensive yet, just liability right now. In two months, I'll probably be able to upgrade for more comprehensive coverage.

    Eight months of just liability runs me $750. Hey, I'm legal....
     

Share This Page