Hello All,

I know this has been asked previously, but I wanted to start a new thread to get input on insurance rates/insurers in a more recent time relevance.

I'm thinking about taking the plunge to buy my first Fcar. I'm doing some due diligence and need some help/advice in the insurance dept

1) What insurance companies are you guys using?

2) What are you paying roughly (vehicle type + 6month rate)

My insurance company told me the weirdest thing. He said that regardless if you buy a Ferrari new or used (ie, $250K sticker or $100K purchase price), the insurance company uses the list price $250K, but if you wreck the car, they only payout the market value.... this simply does not make sense to me.

Thanks in advance guys

 

1) Statefarm
2) $970 every 6 months 07 430

 

1. statefarm
2. 2000 456 $750/ 6mo w/m $1000 and 5 other cars.

what the agent stated is irrelevant. If you wreck the car the inco will pay the "market value" which will be open to interpretation on a fcar or any other low production car. However, there are speciality incos like Haggertys, and Llyods that will insure the car as a investment w/ a stated value, kinda like a piece of art.
If youre sensitive about the cost, consider consolidating your insurance to 1 inco.

 

What your agent said might be true. When I got my pre-owned 550 Maranello the first year was reasonable then when it came for renewal the premium almost tripled. When I contacted my agent the renewal was based on the original MSRP, we went round and round for months with management (provided e-bay and autotrader listings, up to date appraisal, NADA printout) with no resolution.

In regards to premiums it might to important to list coverage and deductibles.

My Stradale is 650/6 months with Farmers (250L/500K coverage with a $2.5K deductible). The Stradale is to be used less than 3K miles/year and there are 4 other cars on the policy. The higher coverage limits were required for my umbrella policy.

I hope this helps!

 

1) me too
2) even way less for my F40 and CGT in CA/WA

If your record is clean, it sures pays to shop around. I have no problem moving policies (all of them) if I don't get good rates.

It used to be that staying with the same company for 30 years had benefits, but I've been offered the exact same benefits from different companies trying to get my business over to them.

Tim

 

My record may be clean but others in my family are listed under the same policy hence my rates being a bit high

 

My '99 360 is with State Farm, I forget the exact amount, but it's less than $300/6 mos.

 

I use USAA and I believe it is somewhere in the $900 for 6 months

 

When I had my 99 360, I paid about $600/6 months through Allstate.