F8 Insurance company? GAP insurance?

Here’s the thing with USAA, they are very expensive for what coverage they provide. Compared to several carriers mentioned in this thread they have very generic coverage not intended for Ferrari. I went down this pathway recently as I have 9 cars with them and at one point 7 Ferraris. They cannot do agreed value through their main service and the collector arm is prohibitive.
The collector arm states:

Driven on a limited basis, for pleasure only.
Not used for racing or timed events.
Stored in an enclosed, locked garage (alternate garaging options may be available).
Certain driver qualifications also apply.

For the regular insurance they offer a feature as a hedge against value- the option for enhanced value. It’s something like if you suffer a loss they add 20% to let you buy one model year newer. So for my F8 it was about 280-3000USD for 6 months. Assume that is 600/year for about 60K extra coverage. To me that was expensive for the amount- not expensive but costly. Multiply by 7 and you see how these features do not help.

Here’s the other thing that you should consider which I learned from another owner. What is your deductible ? Let’s say you ding you right rear quarter and it needs 5K paint etc. Do you submit to insurance? Most owners that I know do not. Because it will show on carfax and you lose 10% on resale. So set it at what you would actually pay for collision and comprehensive. Most of us here would self insure up to 5-10K per event for collision because that is the breakpoint. Another aspect to think about.

I love the USAA but use CHUBB for other needs and personal liability. As others mentioned I will be using American Modern for my F8 and will be moving other cars over.

No accidents or tickets, 50 yo driver.

Shop around PURE is compelling. Never found Hagerty to be flexible enough or enough of a savings for regular Ferraris to use. I like to drive my cars in everyday uses which I was told is difficult with collector insurance- see above. If I am involved in an accident at work or on other non “pleasure” driving with collector insurance, I am afraid they will not cover as some other threads have mentioned. I do not know but insurance can be very specific. Happy to learn from others on this thread who have used them.


In the end without agreed upon value, you will be fighting for your value and diminished value claims.

Let us know what you do.


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