Short-Term Insurance? | FerrariChat

Short-Term Insurance?

Discussion in 'New England' started by jdb, Mar 24, 2005.

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  1. jdb

    jdb Formula Junior

    Nov 16, 2003
    273
    Northern California
    Full Name:
    Jeremy
    Hey everyone,

    So it's starting to warm up in Boston, and I'm getting excited to put my 355 back on the road. However, I'm only going to be driving it for the month of May, and then maybe again in September/October, as I'll be in New York for the summer without car. :-( I was wondering if anyone knows a company that underwrites monthly insurance policies in Mass? I'd hate to pay for 6 months of insurance if I'm only driving one or two of those months.

    Thanks!

    -Jeremy
     
  2. PMDDMD

    PMDDMD Formula Junior

    Apr 1, 2004
    362
    Hey,

    I used to be in P&C insurance in a prior life. I doubt that you'll be able to find a reasonable monthly policy (if you can find one at all)..simplest thing to do is obtain coverage under a normal 6-mo pol and simply cancel it once you take the 355 off the road..they'll refund you the balance of the premium paid. The worst part of the whole thing is you only get to drive her for a month this summer!
     
  3. BigHead

    BigHead Formula Junior

    Oct 31, 2003
    995
    Outside of Boston
    Full Name:
    Dennis
    Ditto to what Paul said. Insurance in MA is regulated. I asked around a couple of years back, and found out that the carriers will issue only a "year-round" policy. If you want to take the car off the road, you actually need to return the license plate and cancel the registration, then re-register it when you get insurance again. This is done because MA will allow registration only if you have insurance.

    vty,

    --Dennis
     
  4. PMDDMD

    PMDDMD Formula Junior

    Apr 1, 2004
    362
    True...I have been out of Mass for a few years and forgot the nuances of their RMV with regard to insurance(i.e. plate return, etc.) That's why Maine's so great..no emissions testing, plates go in the trash when you're done with them, etc.
     
  5. jdb

    jdb Formula Junior

    Nov 16, 2003
    273
    Northern California
    Full Name:
    Jeremy
    Thanks for the feedback. I'm fairly dissatisfied with my current insurance agent (not sure they did a good job finding a good price with an underwriter), and it seems that no major insurance underwriter (Progressive, Geico, Allstate, State Farm, etc.) does auto insurance in Massachusetts, so there are no online quotes I can look at directly.

    Does anyone in Massachusetts have an insurance agent / underwriter who they can recommend?
     
  6. Hunters360

    Hunters360 Formula Junior

    Nov 18, 2004
    330
    Massachusetts
    Full Name:
    James Wardwell
    Massachusetts Auto insurance companies are regulated by the State of Mass. so GEICO and Progressive cant sell in Mass. My agent is great he searches the good companies... Ferrari's are tough alot of the companies wont insure them.. I use Commerce Ins. my policy for my 360 spider is $1550.00 and my 348 Tb is $975. 00 Full coverage 100/300 liability with 1000 deductable.
     
  7. scott61

    scott61 F1 Rookie

    Feb 11, 2004
    2,606
    North of Boston
    I would also recommend Commerce. I have had them for years and when I bought my new Maserati last year I tried checking out a few other prices. Commerce was the only carrier that was able to give a quick quote as all the others said Maserati was not in their system and would take a few days for price. Have full coverage with 250/500 liability and premium was $2,180 but knocked down to about $1,500 with my step 9 safe driving points. On the other hand cost is about $4,000 for my teenage step-daughters 1993 Jeep. Since she is in college most of the year I just put it on the road in May and cancel it at the end of August. Yes I have to pay for new registration every year but at least my agent does all the RMV running for me
     
  8. FarmerDave

    FarmerDave F1 World Champ
    Consultant

    Jul 26, 2004
    15,782
    Full Name:
    IgnoranteWest
    Is he a "captured agent" meaning he represents one co? Or is he a broker writing with whatever companies he can get appointed with?
     
  9. Doody

    Doody F1 Veteran

    Nov 16, 2001
    6,099
    MA USA
    Full Name:
    Mr. Doody
    just to be clear, they COULD sell in MA (if they agreed to the terms and paid into the idiotic kitty) but they are smart enough not to ;)

    and because of this it is WILDLY difficult to insure an unregistered car in MA. i had to deal with this when i got my 355 sans title. i was told you could purportedly buy an "inland marine policy" to cover damage to the car as it sat in your garage, but my agent was never able to find such a policy to sell me.

    moronic auto insurance rules here. just idiotic.

    doody.
     
  10. PMDDMD

    PMDDMD Formula Junior

    Apr 1, 2004
    362
    I agree, Mass is tough...for many reasons. Having lived there for many years, here is a comparison of rates between Mass and Maine. In my last year there (1999) I was a student driving a 1988 Nissan Pulsar. No Coll/Comp, just 100/300 liab limits ran me nearly $1400/yr on a step 9. Here in Maine, six years later, my premiums are about double that, but for 250/500 liabs, full comp/coll with $100 deds on the 328 GTS, BMW X5 4.4, 540I, Winnebago and car carrier combined! I cringe to think how much that would run me back down there!
     

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