Total loss claim - how did it affect your premium or ability to get insurance? | FerrariChat

Total loss claim - how did it affect your premium or ability to get insurance?

Discussion in 'Ferrari Discussion (not model specific)' started by iheartf430s, Dec 2, 2024.

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  1. iheartf430s

    iheartf430s Karting

    Joined:
    Feb 17, 2023
    Messages:
    216
    Location:
    TN
    Full Name:
    Ed
    I've paid the premium in full July 2024. Car was totalled oct 2024. I kept the policy active to hopefully replace it soon. But I'm concerned about the impact of the claim at renewal.
    As anyone been in this situation?
     
    iheartf430s, Dec 2, 2024
    #1
  2. mkraft3003

    mkraft3003 Formula 3 Silver Subscribed

    Joined:
    Aug 20, 2016
    Messages:
    2,387
    Location:
    Tampa, Fl
    Was it an at fault accident? Depending on at fault or not, and which insurance company, you may get non-renewed or a huge premium increase.
     
    mkraft3003, Dec 3, 2024
    #2
  3. 3POINT8

    3POINT8 F1 Veteran Rossa Subscribed Silver Subscribed

    Joined:
    Jan 23, 2014
    Messages:
    5,271
    I rear ended someone in my Porsche and bent the frame so it was a total loss. They paid me out more than I paid for the car. My rates were higher but not that bad if I recall correctly. I did not get dropped surprisingly. This was GEICO.
     
    3POINT8, Dec 3, 2024
    #3

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