F12 to 812 insurance | FerrariChat

F12 to 812 insurance

Discussion in 'F12/812' started by ScottS, Feb 5, 2021.

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  1. ScottS

    ScottS F1 Rookie
    Owner Rossa Subscribed

    Mar 2, 2004
    2,900
    Winter Park
    Full Name:
    Scott S
    I’m updating my 2016 F12 to a 2018 812

    I called my USAA insurance person and and received a quote. Oddly my quote is $2000 less for the year ??? I confirmed all numbers coverage and vin.

    Same miles. Same driver no tickets falling off. No tickets. No additional discount applied.


    Anyone else have this transition experience


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  2. gilly6993

    gilly6993 Formula 3

    Aug 20, 2009
    2,475
    Longmeadow, MA
    Full Name:
    Eric
    Probably less accidents and incidents in their database 812 vs F12....


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  3. ScottS

    ScottS F1 Rookie
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    Mar 2, 2004
    2,900
    Winter Park
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    Scott S
    So it’s raw vs civilized ......


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  4. ryalex

    ryalex Two Time F1 World Champ
    Consultant Owner

    Aug 6, 2003
    24,957
    Las Vegas, NV
    Full Name:
    Ryan Alexander
    I would bet there are more wrecked F12, as a %. If only from what I know about the updated software and TC.
     
  5. ScottS

    ScottS F1 Rookie
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    Mar 2, 2004
    2,900
    Winter Park
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    Scott S
    I’ll agree but half ? That’s a lot.


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  6. Phillychoi

    Phillychoi Karting
    Silver Subscribed

    Apr 4, 2020
    162
    Lansdale, PA
    Are you paying $4000 a year for your F12? What's your coverage and deductible? I think that's pretty high.
     
  7. Pis7a2020

    Pis7a2020 Formula Junior

    Dec 17, 2019
    665
    I pay $4,160 per year for my 812. Does seem less than what I paid for my F12. Also with USAA.


    Interestingly enough, my M2 CS is twice the amount of my M2 Comp.



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  8. TomAZ

    TomAZ Karting

    Jun 3, 2019
    116
    Full Name:
    Thomas Ellis
    Interesting. I had the same pleasant surprise when I switched insurance company last year. I had 5 cars insured with State Auto in AZ which was costing me $1500 a month. I switched to State Farm who insures my home and personal articles policy and it’s dropped to $590 a month. Shows it pays to shop around. Same coverage!

    Cars insured

    18 GTC4 Lusso
    18 Panamera Turbo S
    19 X7 40i
    19 718 GTS
    19 330i



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  9. Ngcanada

    Ngcanada Formula Junior

    May 16, 2016
    622
    Ottawa Canada
    I just went through the same this week. I am selling my 2015 458 italia and getting a 2019 812SF and my insurance came in a little cheaper....I told the agent to double-check as it does not make sense. She inputted the information a second time and the same result. Strange, not going to complain though!
     
  10. ScottS

    ScottS F1 Rookie
    Owner Rossa Subscribed

    Mar 2, 2004
    2,900
    Winter Park
    Full Name:
    Scott S
    Agree.
    Yes I was paying 4 k per year androstenedione it as 1000 miles or less. No accidents or tickets. In my 50s.


    Yes switching to Hagerty got a significant reduction with equivalent coverage for my F8 and now migrating my other cars. For expediency I got the quote from USAA to complete the purchase. I will post the Hagerty rate for this one for comparison.



    I wonder if it’s something about that era cars from Ferrari that repairs were more ? That really doesn’t seem logical either.

    I mean 220 vs 350 total loss ?? Wouldn’t it be odd if the car itself dwarfed the driver for insurance rates which goes against What we’ve all been told.

    Any insurance agents on the board?


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  11. SeattleStew

    SeattleStew Formula Junior
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    Apr 10, 2020
    983
    In the rain
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    Stew
    I pay about $2700/yr for my 2020 812. $500k agreed value policy, $2k deductible, unlimited miles, above my states minimum insurance requirements, under and uninsured motorist coverages. I'm also 27, unmarried, and have no accidents or tickets on my record. I have 6 total cars on my insurance, but none other than the 812 exceed $100k in value. All of my cars are on agreed value except the 1 beater car.
     
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  12. 96redLT4

    96redLT4 Formula Junior

    Feb 20, 2009
    507
    California
    Full Name:
    Jim
    LOL. I was trying to figure out where androstenedione fits in here. Would pregnenolone be less? Your spell checker thinks you are writing a scientific paper!
     
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  13. Moopz

    Moopz F1 Veteran
    Owner Rossa Subscribed

    Jun 29, 2004
    5,348
    Orlando, FL
    I use Kelly Klee for my insurance. Full home/auto/umbrella coverage and their best bid was AIG. 2018 Lusso is $1600 year, 2006 430 is a little less. Up to 2k miles a year allowance. Stated value of $230k on Lusso, $125k on the 430. Kelly Klee is as close as it gets to a nation-wide insurer with small-town customer service. They're based in Colorado. I'm in Orlando.

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  14. Simon^2

    Simon^2 F1 World Champ

    Oct 17, 2005
    12,313
    At Sea Level
    My former F40 cost 20% less to insure than my wife's Volvo v70 at the time (USAA).

    It's all about the actuarial data. I always check rates before I get a new car...
     
  15. SeattleStew

    SeattleStew Formula Junior
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    Apr 10, 2020
    983
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    Stew
    Word of caution on stated value is that it is different from agreed value. You are paying for coverage at $230k and $125k, but in a total loss event they may choose to pay you less based on the actual cash value. The policy is likely worded as the stated value or the actual cash value, whichever is less. You may want to double check the actual written policy and confirm that, even if your broker says otherwise. I know about this because of people with modded cars getting stated value policies, and then not getting what they thought on a claim.

    Agreed value insurance you generally have to provide receipts or proof of value to the insurance carrier and for them to therefore accept that value. You are both in agreement on that value, and that is what will be paid in a total loss. It's much more of a process than just stating a value.
     
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  16. Alcav5

    Alcav5 F1 Rookie
    Rossa Subscribed

    Jul 28, 2012
    3,970
    Scarsdale, NY
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    Al
    I want to throw up after reading this thread , but truthfully I have not vetted out my dilemma yet , just been too busy.

    Long story short , my 2021 812 GTS came in at $10,000 / year . I only took possession about 2 weeks ago and had to agree to it to complete the deal but it's wrong. I will look into it further , no way does it make sense .
    My 2020 812 SF was $4400/yr so I figured the GTS would be similar . I don't recall what my deductible was , maybe the $500 ded. that I said yes to is too little? Could it be because the GTS was not in their system data base that it went to super exotic category , could it be because it's a convertible? (could it be it's $584 msrp vs. the SF's $484 msrp?) .

    That all said I use USAA they have all my other insurance and have always come out less than other carriers when I had checked , maybe their pricing model is changing ?
    I will check next week , maybe I will switch to Hagerty, I have heard good things about them.
     
  17. SeattleStew

    SeattleStew Formula Junior
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    Apr 10, 2020
    983
    In the rain
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    Stew
    Get a good insurance broker that works with multiple carriers. They'll be able to shop it around for you and find the best deal. Haggerty for me wasn't the best deal, but they weren't the worst either.
     
  18. kenvw

    kenvw Rookie

    Jul 16, 2016
    13
    Using two different insurance companies same agent.
    Local insurance KY Farm Credit for my 812SF was $4K a year value agreement $430K I had no accidents for my whole driving life until now Jan 6th - very cold rd the little lever (manettino)
     
  19. Moopz

    Moopz F1 Veteran
    Owner Rossa Subscribed

    Jun 29, 2004
    5,348
    Orlando, FL
    Thanks. I'll double check.

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  20. ScottS

    ScottS F1 Rookie
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    Mar 2, 2004
    2,900
    Winter Park
    Full Name:
    Scott S
    I was shocked when the price came in cheaper. I moved and am moving to hagerty as my broker has been price shopping and came upon these differences. She has many clients who make my 4-7 (Depending on deals, delivery) Ferraris look puny and has done the homework already. I ask that I am able to drive the cars to work or anywhere and in general I will drive each one less than 1000 miles per year.

    That’s where we wound up. The F8 on Hagerty was 3700 for 12 months.


    With a GTS coming now I have to check on that insurance as well. 10k for one car is much but usaa is very out of touch. That said the purchase price is mid 400 to high 500 for most which is moderately high.
     
  21. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    That is correct, you should NEVER go with stated value as that actually limits the maximum amount the insurance company will pay. You are far better off with a regular actual cash value than stated value but at the time of loss the burden is on you to prove the ACV to the insurance co. Agreed value is like adjusting the loss before the loss event. Both you and the insurance co agree on the total loss value at the time the contract is negotiated NOT at the time of the loss.
    That said partial losses are still some what of an negotiation but nothing is perfect.
     
  22. ryalex

    ryalex Two Time F1 World Champ
    Consultant Owner

    Aug 6, 2003
    24,957
    Las Vegas, NV
    Full Name:
    Ryan Alexander
    F12 is about $325/mo. Which is about the same as my 458 was, and, annoyingly, my 2018 Alfa. I have the Alfa as primary. The car worth $45k is the same to insure as the one worth $200k...
     
  23. gilly6993

    gilly6993 Formula 3

    Aug 20, 2009
    2,475
    Longmeadow, MA
    Full Name:
    Eric
    Comparing insurance costs from one person to the other is impossible. Even given the same vehicle there are SO MANY other factors involved....


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  24. ScottS

    ScottS F1 Rookie
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    Mar 2, 2004
    2,900
    Winter Park
    Full Name:
    Scott S
    True that’s why one’s own comparison(we are serving as our own controls unless something significant or a long time has passed) is what matters but it seems several of us have decreased insurance going from F12 to 812. What do you think?


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  25. Alcav5

    Alcav5 F1 Rookie
    Rossa Subscribed

    Jul 28, 2012
    3,970
    Scarsdale, NY
    Full Name:
    Al
    So far no relief for me. Insurance says GTS is way more different than SF.
    F12 rate was similar to SF, I couldn't have imagined GTS would have been almost double SF.
     

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