360 owners w/ bad driving records, insurance?

Some insurance companies only check when you first get a car on your policy so maybe you should hurry and buy the 360 now while your record is still clean. Other companies check periodically and your'e screwed.

But maybe you should not have a 360, they accelerate VERY fast into the car in front of them

 

Are you SURE you want a Ferrari? ;-)

I'm 37 and my insurance is about $1200 here in South Carolina. Sorry but last ticket was 10 years ago or so..

I'd expect it to be a little above normal..

 

Regardless of your record even if spotless some insurers are not interested in these cars due to their rating. My carrier initially declined the 430 Spider due to its 27 insurance rating. Took a lot of arm twisting with underwriting for the company to reconsider losing our entire book of business. Remember it can burn up, be stolen or wrecked by a worthless driver with a common 25k policy and no assets.

With your record I would wait as it is going to make a bad situation worse. See if you can bind coverage before making any offer, you'll need the VIN.

 

So, just to recap..

a) Reckless driving
b) 2 speeding tickets
c) 2 lane violations
d) You're sort of 'young' ..compared to some of us.
d) ....and you just rear ended someone

I reckon you'll still get insurance, but you'll pay top $ for it. There are a couple of recent threads about people being dropped for quite a bit less.

 

Why don't you just call a couple insurance agents in your area for quotes...???

Or any independent agent who can search the insurance companies he represents?

Insurance premium have so many variables that come into play that this question most likely can't be answered sufficiently unless someone with your same exact situation lives in your zip code.

 

My Allstate agent didn't even want to insure my car. They don't want to insure anything that is over 100k when new. They made an exception for me because I am 43 years and married. I've been with them for 19 years and never had less than 3 cars and 1 house on the policy. I have never made a single claim, the whole time either. With a $2000 deductible and full coverage 100/300 protection, I'm paying $900/ 6 mo. I still think its high, but I'm on Long Island, NY. The rates here are statistically higher than other places. I am getting all the gpod driver discounts, multi car, accident prevention course etc. the only discount I'm still missing is the low milage discount because I have to have it for a year, so they can see the pattern. So next year it will probably be slightly lower.

 

Per year.

 

You can read about my difficulties in my thread: http://www.ferrarichat.com/forum/showthread.php?t=363577

The short of it is that I've had Geico for several years for my G35 coupe and 996tt, they let me add the Ferrari 360 when I bought it, but then dropped it after 6 months simply b/c it was a Ferrari and I am too young for them (27 M, single until November). However, getting new insurance elseware was a major PITA b/c of a few minor tickets ( no accidents or claims, 2 points on license, 3 speeding tickets reporting about about a year apart each, 8mph, 9mph, and 4mph over). For these three cars in OH, I went from $1208 annual with Geico, to $2100 with State Farm (who dropped me 3 days after approving me and violated some Ohio statues in the process...lawsuit pending), and after a splattering of denials or $3.5k+ quotes with competitors, I have ended up keeping the G35 and 996tt at Geico and got Barrett Jackson (American Modern) to insure the Ferrari for agreed value, 250k/500k, and no deductible glass insurance with $1k deductibles for $1479 annual + Geico's increase to $1050 for theother two = $2,529. It's really not that big of a deal in the big picture, despite the 200%+ incease, but it was annoying dealing with underwriters.

 

I have geico currently, have an accident and a speeding ticket on my record, and I am 20 years old. I pay $1400/6 months full coverage with Geico currently, but just as mentioned above I am being dropped on the first of august, so I will be forced to find another company.

 

Thanks for sharing, and that is pretty much exactly as what I'd expect. $2800 for just the F car is painful, but that is still pretty good for your age with an accident. I hope you don't experience too much pain with further rate increases when you are forced to switch.

Believe it or not, despite Geico dropping me after 6 months, I was only paying $420 annual rate to insure the F car with $1k deductible and $250/$500 coverages. Obviously that was too good to be true and last.

 

$420 annual rate, wow, barely get that on a honda civic let alone a Ferrari. You made out like a champ.....

 

Saying Geico car insurance is cheap is an understatement.

I forgot to mention that for my $1400 my girlfriends G37 is insured also, and both have a $150 deductible, full coverage, etc. Oh and geico also paid out almost $11k a few months ago when the trans went out in my S550 (but it wasn't considered my fault, so it wouldn't have effected the rate) Either way geico is great, and I wish I could keep them for the Ferrari.

 

haha....i wish that was true....truth is most insurance co look 3-5 years back on your driving record.

I have a similar driving record and its not cheap. I am paying around 3000 a year for just the ferrari....keep in mind i have a 2k deductible and this is a second car discount....im 34

 

I'm 32. I have Allstate at $120 a month for my 2000 360. Totaled my first Ferrari which was my fault, which they paid for. They didn't drop me, now I pay I think an extra $180 every 6 months. I don't have any moving violations. If you plan on driving expensive cars it is worth getting a lawyer when you are pulled over for any infraction. Like it was stated above, Ferrari's seem to accelerate a lot faster than other cars...

 

I am 30 and have 2 10-15 miles speeding tickets and 1 small accident. I am paying $3500/ 6 months for 430 and $2500 for gallardo through progressive. Rest of cars are pretty cheap. I guess it's time to switch to a different company!
Any recommendation for good and cheaper insurance?

 

I am 54 with no tickets in over ten years, and I'm enjoying this thread. ;^)

Cheers,

George

 

Holy cow. State Farm quoted me $1500 a year for an 08 430. I do have 4 other policies with them however.

 

Holy Freeholie Batman! $3500 for 6 months! Wow.. I'm def getting a lawyer for any issues...

 

Am not in the US, however I paid 5,000 USD for insurance last week after 3 months of negotiations.

I can see why an insurance company is not willing to take much risk insuring a Ferrari or any other exotic in its class, if someone bumps me in the back in traffic and cracks my rear bumper (with Carbon grill), that alone is 15K.

 

Lol, only for 6 months until they dropped the Ferrari .

 

You REALLY need to get quotes for higher deductibles and find the sweet spot. $150 is just a silly deductible to have b/c you do not want to make a cheap claim (say $200-$1k) that will show on your record (not to mention the car's) and for exotics may increase your annual premiums higher than they covered for your paid claim. Usually $1k is the sweet spot and what I go with, can save $300-$400 per year over $500 deductible. $2k or $2.5k vs $1k deductible usually only drops annual cost by $100 or less and is not worth it. Insurance should just be for major loss.

Just ask for the different price points at to evaulate which you want to go with. It just takes a second to check this out online or over the phone.

 

What you should do is go to court to contest the tickets still showing and plead non-guilty at pre-trial. Mail in discovery requests to see recent calibrations of the radar gun used to get you. They will set a trial date, and you can try to get that extended for work or other conflict. Extend as long as you can, try to negotiate, and the benefit is that until they find you guilty, the tickets will not show up on your MVR and you can get setup with insurance on your Ferrari first. Many insurers do not recheck MVR, at least not often and you could easily slip under the radar.