Best Insurance company for FF | Page 4 | FerrariChat

Best Insurance company for FF

Discussion in 'FF/Lusso' started by islandtrader, Aug 30, 2016.

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  1. May I ask what state you are in? And also is the 1500 on your 458 with StateFarm? I am in process of buying 458 right now and have not had good luck so far with insurance co's. All my cars are with progressive and they won't insure Ferrari.
     
  2. Leon Redensky

    Leon Redensky Rookie

    Jul 22, 2019
    39
    Full Name:
    Nototrader
    with PURE, i was paying $360 annually full covered. My Mclaren is $600 The Tesla is like $1000!
     
  3. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    What state do you live? I assume from your premiums that it is not a metropolitan area, otherwise the premiums would be much higher
     
  4. Leon Redensky

    Leon Redensky Rookie

    Jul 22, 2019
    39
    Full Name:
    Nototrader
    North jersey. Pretty metropolitan! With hard replacement values. PURE deals with the high end of the market and they understand you can’t drive more than 1 exotic at the same time. Also they know that most people don’t do 10k miles a year on them. Happy to introduce you to my rep. Just PM me.


    Sent from my iPhone using FerrariChat.com mobile app
     
  5. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    I live in CA so NJ rep is not going to work for me. I did notice that they have a couple of brokers in Santa Barbara which is not so far away. Thanks for the info.
     
  6. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    As it turns out my old firm also does business with PURE. Evidently, they aren't as competitive on homes/ranches as some of their other markets. But I am going to have my old firm give me a quote on PURE’s exotic auto program when those cars renew. I was surprised that my old firms name did not come up when I did a broker search on the PURE website but one of my former partners gave me some info on them. Again, thanks for the info but not so sure they are nearly as competitive in CA?
     
  7. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,772
    If you have multiple homes and a car collection pure wins every time. A dozen guys i know have switched from chubb to pure in the past 2 years.
     
    randkin likes this.
  8. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    Out hear (CA) where brush fires are a yearly occurrence both Chubb and AIG have pulled back from insuring homes/ranches in the rural areas so it doesn’t surprise me that some of that business is flowing away from these two insurers since it is by their design. I have my ranchette and homes with Encompass along with my driver cars and they have been hanging in with me. So my issues are more multi faceted rather than just cost. I will try my collector cars currently with Hagerty with a PURE quote.
     
  9. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,772
    Makes sense - similar to get insurance in the hamptons. Hagerty cldnt touch pure on the cars. Look forward to hearing what you find- good luck!
     
  10. timjen88

    timjen88 Karting

    Aug 20, 2015
    239
    Colorado/Palm Springs
    My '14 FF in Colorado with Hagerty, $1800/year
     
  11. papou

    papou Formula 3
    Silver Subscribed

    May 18, 2012
    1,567
    plantation Fla
    Full Name:
    daniel ross
    My FF 2015 $1800 South Florida..
     
  12. HBstig

    HBstig Karting

    Nov 3, 2019
    164
    Full Name:
    HBstig
    I use Hagerty at $2200 per year with $0 deductibles and $165,000 value.
     
  13. dgoldenz94

    dgoldenz94 Formula Junior

    Apr 13, 2020
    542
    Las Vegas
    Full Name:
    David Gold
  14. TommyTheV

    TommyTheV Karting

    Sep 17, 2022
    221
    San Diego, CA
    Full Name:
    Tommy T.
    A long shot here since this activity is a while back, but by chance, that agent can still help with a quote for CA? Thanks :)
     
  15. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    I did go to market on my three cars with Hagerty -1977 P 930 TC (1000-1500 miles/yr), 2022 P 992 TTS (4000 miles/year est) & 2008 F 612 OTO (2500-3000 miles/year) , $500,000 CSL liability, 1,000 MP, 500,000 UM/UIM, Comp/Coll 1,000 Ded. Agreed Amount @ $150,000, $260,000 & $150,000 respectively - annual premium $4,200.
    Pure would not quote (?).State Farm quoted much less coverage liability limits and no agreed amount and no comp/coll in one vehicle for $6,300 annual premium and Allstate was even higher also less limits and no agreed amount on the Ferrari and Porsche 992 only the 1977 P 930 TC. Several other offered quotes on some of the vehicles but not all three for more than Hagerty was charging for all three vehicles. These quotes were in June 2022.
    Bottom line no market gave me a quotation that was exactly comparable either coverage wise or limits wise as the specifications I gave them which was the coverage I had with Hagerty and all the prices were more than Hagerty’s premium. Also none of the agents/brokers pointed out the differences or short comings where their proposals did not conform with my specifications. Something to remember when you are soliciting bids for insurance, you need to know what you are buying as most likely is not exactly what you requested!:rolleyes:
    Both Chubb and AIG are in the process of with drawing from the CA insurance market for personal lines (so obviously they would not quote), guess they have had too many significant losses from the brush fires and Pure doesn’t want to pick up their book of business which is perhaps why they declined to quote my vehicles since my MVR is clear of tickets and accidents & I live in a rural low crime area.
    I never got a quote from GIECO as they wanted to talk to me over the phone and would not quote based on the underwriting information I gave them by email even though it was most complete, as I do know what kind of underwriting information they need to underwrite and quote.
     
  16. TommyTheV

    TommyTheV Karting

    Sep 17, 2022
    221
    San Diego, CA
    Full Name:
    Tommy T.
    After a few calls, I got to GEICO underwriting directly. Initially, they weren't willing to but after emphasizing I insured multiple cars with them for over 10 years, and I have one "non-exotic" that is about $100K already so what does $30K on top of that could really change other than it's just classified as "exotic".

    I was transferred to the right person, and for 250K/500K with only a $500 deductible for an F430 @ 3K per year driving - which sounds about right for a weekend driver - they quoted $2,952 roughly. I could increase my deductible to $1K and probably get closer to $2,500. That is if I want the LOWEST rate but I'll probably settle for the $3K, that's only $250/month, don't think I can get cheaper than that anywhere.

    What do you guys think?
     
  17. dustywusty

    dustywusty Karting
    Silver Subscribed

    Jan 11, 2017
    133
    Florida
    I’ve gone through State Farm for the last 10+ years with many different exotics. Having a convo with a good rep in your area is the way it’s always worked for me.
     
  18. TommyTheV

    TommyTheV Karting

    Sep 17, 2022
    221
    San Diego, CA
    Full Name:
    Tommy T.
    I will definitely check them out if they can beat my quote since GEICO's collector car policy is completely separate so I don't need to stick with them for the best rate on my other cars :)
     
  19. papou

    papou Formula 3
    Silver Subscribed

    May 18, 2012
    1,567
    plantation Fla
    Full Name:
    daniel ross
    Image Unavailable, Please Login
    Friday 595 FtLauderdale drove straight to Ferrari FtLauderdale called Grundy insurance been with them fo ever,
    Spent one hr on the phone with them , Had to redo the call today still waiting for inspection.
    By the time this will be ok at least 10 days .
    So my point don’t go with Grundy.
     
  20. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,407
    Southlake, TX
    Full Name:
    Rob Lay
    Anyone that still chooses Hagerty hasn't compared rates.
     
  21. randkin

    randkin Formula 3
    BANNED

    Aug 2, 2015
    1,497
    Somis, CA
    Full Name:
    Randy
    Oh yes I have at the end of June 2022 and Hagerty was wayyyyyyyyy lower than any of the other 8 companies I tried, Allstate, State Farm, GIECO, AAA and others who responded to the online request for quotations. While Hagerty was over $1k+ lower they also had broader and more comprehensive coverage than all others quotating. So I would comment that it is difficult to compare other parties quotations to your own situation. Also of note NONE of the other companies quoted to my exact insurance specifications and not one acknowledged that their quotations were different and less comprehensive than my specifications!!! I live in So CA in a rural area and have a good MVR for tickets/accidents with 3 vehicles on the Hagerty policy. So Roy, suggest you cease making broad and incorrect statements. I was an insurance broker for 39 years so, I would suggest that I have far more ability to make exact comparisons than you…. Your rebuttal?
     
  22. Sunshine1

    Sunshine1 F1 Veteran
    Silver Subscribed

    Jan 22, 2011
    7,778
    Miami
    Sorry to hear what happened on 595. Was it a rock from a truck? Asking as the same thing happened to me on I95 in the Maserati several months ago: no truck around, few cars around (it was reported in the news that sometimes people use a device to throw rocks from bridges, …, just wondering…).


     
  23. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,407
    Southlake, TX
    Full Name:
    Rob Lay
    We had 10 users submit to Hagerty, AIG Private, and Grundy. Hagerty was 50-75% higher in EVERY case! The good argument Hagerty has is customer service and more personal reps (kind of like a private banker vs. Bank of America).

    So I suggest YOU be careful with accusing me of incorrect information when it was FACT based.
     
  24. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,407
    Southlake, TX
    Full Name:
    Rob Lay
    Also, my name is Rob dip ****.

    You posted the above just a month ago, so you are a ****ing liar!

     
  25. papou

    papou Formula 3
    Silver Subscribed

    May 18, 2012
    1,567
    plantation Fla
    Full Name:
    daniel ross
    Landscaping truck.
     

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