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Silver Wheel Insurance

Discussion in 'Canada' started by AceMaster, Oct 4, 2011.

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  1. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
    34,766
    Ontario, Canada
    Full Name:
    Mike
    #1 AceMaster, Oct 4, 2011
    Last edited by a moderator: Sep 7, 2017
    Hello my fellow Canadians, I am sure some or most of you are aware of the Silver Wheel Insurance Plan, but for those that are not I think you can save some money on your Ferrari insurance here.

    I just found out about these guys last week. A few conditions:

    1) Must have the car appraised
    2) Cannot track the car
    3) Cannot use the car for grocery shopping, or take it to the bank, or drive it to work, etc...must be purely for pleasure use.

    You don't need a squeaky clean driving record, I beleive they will overlook one accident and one ticket, possibly two tickets....but two accidents and you can forget about it...and this is full coverage for the entire year, which works out to be more cost effective than collision for 6 months with my regular insurance company...and the deductibles are $100 - that's right, $100...if you up that to $1,000 the rate will drop by about $100-$150.


    ***I HAVE ABSOLUTELY NO CONNECTION TO THIS COMPANY WHATSOEVER, NOT MYSELF, NO FAMILY MEMBERS OR FRIENDS WORK THERE, NOR AM I PROFITING IN ANY WAY, SHAPE OR FORM, I AM SIMPLY PASSING ON THIS INFO TO MY BROTHERS SO THEY CAN SAVE MONEY ON THEIR RATES.

    Check out the rates:


    EDIT - I can't figure out how to blow this up, so I took a second pic enlarged. In the second pic, the first column is the vehicle's value...the second column is the premium if it is 25 years or older, the third column is if it is 15-24 years old.
    --
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  2. brettgagnon

    brettgagnon Formula Junior

    Apr 2, 2011
    347
    Toronto
    Full Name:
    Brett Gagnon
    I have Silver Wheel insurance on my 308. Sub 400 a year and it was not overly difficult to get.

    Aka i can vouch for it.
     
  3. jqpd99

    jqpd99 Formula 3
    Silver Subscribed

    Jul 25, 2007
    2,449
    Ottawa
    Full Name:
    DFO
  4. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
    34,766
    Ontario, Canada
    Full Name:
    Mike
    Brett - how do they handle other driver's in the household? ie, Wife, son etc who may have a license but does not drive the Ferrari.
     
  5. F355_guy

    F355_guy Karting

    Jun 26, 2004
    206
    Hi Mike,

    The insurance broker will likely ask those members of your family to sign a OEF28A - Excluded Driver Endorsement..

    Cheers, Nick


     
  6. DenisC

    DenisC Formula 3

    Oct 11, 2009
    1,132
    Sorry guys, that's almost double my premium! I am insured with Zehr!
     
  7. MS250

    MS250 Two Time F1 World Champ
    Lifetime Rossa

    Dec 10, 2003
    26,541
    Full Name:
    Avvocato
    have been on this for years now - i pay $248 a year for my 308, and about $600 for the TR -

    they are are great, it works ver simple,

    you must have a daily driver and show proof - anyone in your family can drive the car (ferrari) as long as they are over 25 - and you should tell them and put them on the policy , its no extra charge.

    My daily insurance, has no idea i have the cars, or i have other insurance, does not interfere with there plan, nor do i have to disclose.

    I must recommend once you appraise the car, you make sure you insure at the 19a form which is the value of the car apprasial - therefore, in case of theft, burn or crash, you get your money from the appraisal value.

    you will have to have apprasial done every 5 yrs to reflect the market, thats a given, and they are strict on it -
     
  8. Toronto308

    Toronto308 Formula 3

    Sep 8, 2006
    1,008
    Toronto, ON
    Full Name:
    Esteban
    I have my car insured as a regular car as I drive it everywhere, but I'm thinking that might now be such a good idea anymore. I've had my centre caps stolen three times this summer and they're $50 a pop! Sucks as I like to take the Fcar once in a while to pick up milk.
    Thanks for the tip. I will check them out.
     
  9. marioz

    marioz Formula 3

    Nov 21, 2003
    2,025
    Cedar Mills,Ontario
    Full Name:
    Mario
    probably some of your students getting back at you for yelling at them Esteban
     
  10. Toronto308

    Toronto308 Formula 3

    Sep 8, 2006
    1,008
    Toronto, ON
    Full Name:
    Esteban
    Ha! I don't yell at them. I bill them :D
     
  11. ClassicFerrari

    ClassicFerrari F1 World Champ
    Lifetime Rossa

    Jan 7, 2004
    16,798
    Toronto
    Full Name:
    Vasco
    These guys are great and have used them years ago. But remember there is lots of rules and you must have full time insurance on a full time use car!
     
  12. rhyno

    rhyno Formula Junior

    Oct 3, 2006
    573
    Does these guys insure in BC?

    Sounds so much better then getting bent over by ICBC!
     
  13. GerryD

    GerryD Formula 3

    May 5, 2010
    2,440
    North of TO
    Full Name:
    Guido
    #13 GerryD, Oct 5, 2011
    Last edited: Oct 5, 2011
    I moved mine to silver wheels this year and im saving a ton. Should have done it earlier. If you are one of those guys that takes your F-car everywhere then its not for you. The other insurance mentioned is also underwriten by Aviva and the rates are probably close to the same. Silver wheels now has a new policy where they will insure any new car worth over $60gs.
     
  14. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
    34,766
    Ontario, Canada
    Full Name:
    Mike
    Yes - it is availabe to all Canadians.
     
  15. Rorie

    Rorie Formula Junior

    Oct 2, 2007
    450
    Toronto, Canada
    I looked at this and also Hagerty.

    Hagerty will do higher valued cars, and they do NOT require an appraisal. They work on the market value of the cars.

    So that saves you about $30 to $50 a year right there over Silver Wheels because you are not being asked, nor being cancelled, for failure to get an appraisal in a timely manner.

    I am also trying to get Hagerty to sponsor things if we can come to an agreement.

    They don't care about other drivers in the home, as long as they are not driving the car, and as Big Red says, they sign an OPCF 28A saying they won't drive the car. No one under 25 can.

    We are also looking at spare parts coverage thrown in. Just like Aviva's Silver Wheels. Aviva works with Hagerty by the way. Same company, but different arms of it.

    I'd like to see if I can get this thing going per my last message. Need some help from you guys so I can compare. I have Silver Wheels as well.

    Thanks.

    Rorie
     
  16. Rorie

    Rorie Formula Junior

    Oct 2, 2007
    450
    Toronto, Canada
    The process of insuring a Ferrari is fairly straight forward.

    They know you are not commuting with it on the 401 daily, and they know that it is nor bring parked in front of Walmart, or at work.

    So it all comes down to your record, where you live, and the value of the car.

    R
     
  17. Rorie

    Rorie Formula Junior

    Oct 2, 2007
    450
    Toronto, Canada
    I had never heard of these guys. They use a company called Echelon for their antiques, but the print at the bottom says this:

    "*Exotic and Special Interest vehicles underwritten by Aviva Insurance Company."

    So it's Silver Wheels. Or Aviva Elite, which also handles Silver Wheels.

    Silver Wheels as many of you probably know is a guy named Tony Lant, who I think did a lot of good when it came to collector car insurance. He really got the Silver Wheels name on everyone's tongue, and there was a long time where I swore he insured every collector I came across. I know that Aviva then bought it, and I don't know if Tony is there or not anymore. I never met the man, but I have much respect for what he did.

    Personally, I believe in Aviva Elite, and Hagerty. Both Aviva offered. I would just like to work out a plan so that they could sponsor an event, or a lunch, something to give back to the Ferrari enthusiasts around here.
     
  18. Rorie

    Rorie Formula Junior

    Oct 2, 2007
    450
    Toronto, Canada
    No, the rates you are looking at are filed for Ontario only.

    What you need to do is speak to a insurance broker in BC. I am sure they will offer something like this, probably via Aviva, but it may not be called Silver Wheels, and it will have different rates because BC has a different insurance system in place. I can't imagine something is not being offered like this in BC.

    Hagerty probably are also available in BC. But a BC insurance broker will know for sure.

    Thanks.

    Rorie
     
  19. Rorie

    Rorie Formula Junior

    Oct 2, 2007
    450
    Toronto, Canada
    I will bring some brochures to the fall drive, both Silver Wheels and also Hagerty.

    I've spoken to Alex at Daytona, and he would like something in place as well.

    Thanks.
     
  20. MS250

    MS250 Two Time F1 World Champ
    Lifetime Rossa

    Dec 10, 2003
    26,541
    Full Name:
    Avvocato
    Since on the topic of saving -

    anyone with a 30 yr old or older car apply at the ministry for a "Historic" plate, which is $18 a year for your sticker in Ontario -
     
  21. Fave

    Fave F1 Rookie

    Aug 12, 2010
    4,157
    Tarana
    Full Name:
    L. Ike Hunt

    +1

    I just got historic plates, saved quite a bit on stickers.
     
  22. Rock

    Rock Formula 3

    Nov 9, 2003
    1,652
    Toronto, Canada
    Full Name:
    Rocco
    We have been recommending silver wheels for years to our eligible customers. They have a list of conditions but most customers fit into their program. We do the appraisals for silver wheels and they need to be updated every five years or so.
    But let me tell you when it comes to a claim they are by far the best insurance company to deal with. I don't have to put my boxing gloves on when they come to the shop.T

    There is only one way to fix a ferrari correctly, any deviation is a waste of time and money.
     
  23. cf355

    cf355 F1 Rookie

    Feb 28, 2005
    4,208
    Full Name:
    chris
    How do their rates compare with vehicles valued 80g and higher?
     
  24. GerryD

    GerryD Formula 3

    May 5, 2010
    2,440
    North of TO
    Full Name:
    Guido
    80Gs car is $1270 per year.
     
  25. brettgagnon

    brettgagnon Formula Junior

    Apr 2, 2011
    347
    Toronto
    Full Name:
    Brett Gagnon
    Little more then a bit ;) I as well have historic, though i had not put them on yet and was still using the Cali plates the car came with.
     

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