Best Auto Insurance for Ferrari

USAA

 

I am an insurance agent and this should be easy. Taz has USAA, a fine company but I think is limited to persons with a military background. Contact an independent agent who has access to many carriers and have them shop around for you. That's what they do. Personally, I have my insurance with Progressive but in Wisconsin the limit for a stated value vehicle is $150K. Stated value differs from agreed value or ACV. Depending on the vehicle year and use, a "classic car" policy might make sense.

 

I have Safeco and they cover both my 1972 365GTC/4 and my 2000 550 Maranello for agreed values.

Chuck

 

The Hartford.

No higher premium for my Ferrari than for my other (non-exotic) vehicles.

 

Heacock/American Modern is an excellent choice if you drive your vehicle regularly and/or have multiple special vehicles to insure. Unlike Hagerty, etc., they don't have strict mileage limits but, more importantly, they only have one liability charge no matter how many vehicles you insure with them. Prices are very reasonable.

 

KO23 - Taz is correct on USAA, good company if you have a military background but I am not sure they have "agreed value" which may be important to you. Also there is a whole thread on insurance from a guy in PA (Fchat - F430 F1 Car insurance quote – Philadelphia area). But you live in Massachusetts which is a very difficult state for auto insurance (well any insurance really) from my previous life as an insurance broker for decades.

Puckybadger, makes a good suggestion about finding a good local insurance broker with lots of markets to have them search for you. But I certainly would not go with Progressive if I didn’t have to (not just because George Sorros owns the company) but they will offer a market if no one else will. Also never go with stated amount it is not the same as agreed value. Actual cash value is better than stated value – stated value limits the maximum the company pay not the minimum at least ACV can go up and down not just down.

Some of the regular companies will take Fcars with other cars if the Fcar is not too expensive usually a value under say about $200k. I believe the Maranello would be OK with most regular companies that will write sports cars at all. But they usually do not offer agreed value as do the specialty markets.

There are several specialty markets all of which have their own individual quirks which you need be aware. Each company is different – some requiring an appraisal, requiring more than one car be insured, mileage limits, use of vehicle limitations (i.e. no daily driving or to work etc.), method of valuation, difficulty handling claims, etc. A good broker can help you sort out all those issues. Most of the specialty companies offering “agreed value” are very good handling claims and you get the car repaired correctly but you need to know what their limitations are and if you can live with them. Good luck

 

I've been with Grundy Worldwide collector car insurance for my various sports cars over the past twenty years.

Agreed value, zero deductible, no mileage limitations, glass coverage, etc...

Great people to deal with.

Collector Vehicle Insurance - Grundy Worldwide

 

State Farm has has all my cars and I have been very happy with them, easy to deal with

 

+1 Not to mention that my agent is a "car guy"...

 

I second Terry on this. USAA.

I have been with them for 40+ years, with all my insurance needs.

Dennis

 

I have Allied now. I Switched from Safeco and saved approx %25,

Now I pay $1200 year for 2008 Scuderia 100/300 agreed value $220k
Will add $3000 year for 2016 488 Spider Value $440k when it arrives in Feb

 

It's pretty hard to compare insurance premiums with the owners living in different parts of the country, having different driving records and limits of coverage.

But generally speaking Safeco does not like sports cars. They mainly want garden variety standard performance vehicles, so I am not surprised that you were able to save money switching. They don't want to be competitive on sports or exotic cars. Your agent should have told you that and suggested you change carriers IMO.