430 Wo do you use for insurance and what aggreed value would you have for a F430?

I have it insured with State Farm, can't remember valuation as I haven't looked it since I insured it a few years ago, but the value they gave me was much more than my car is worth by about 30%. It's not a daily, and it's an extra vehicle, so I pay something like $80-$90 a month on it.

 

I am in NJ also, I have Condon Skelly (American Family Home Insurance) for my 2009 F430 with a $175,000 agreed-upon value. I pay about $1600 per year, which isn't bad considering what normal car insurance costs in NJ. I thought I had unlimited mileage but apparently, I'm on a 2500-mile plan, not that I would ever really go over that as I have been averaging a little over 1K per year since I split my time between my GT3 and the Ferrari during the warm seasons. If I lived someplace like Florida where it is warm year-round, then I expect I would need a higher mileage plan.

 

Hagertys with 135K agreed value. Cost about $1600 a year. This is for an 08 F430.

 

Grundy. 08 F430 $1800/yr in Arizona. 150k agreed value with no yearly mileage cap.

 

And I promise you that they will never pay you what they say the car is worth if it is a total loss or stolen. I've experienced it first hand. And yes it was State Farm.

AGREED VALUE is the only policy you should have for a car you value. I currently have American Southern for all my cars. All are Agreed Value. Anything else is a risk I'm not willing to take not to mention the absolute runaround from the others who offer a "guaranteed value" that assure me what my car is worth-- until it becomes time to pay for the loss.

 

These are really great prices but I have dealings with State Farm before. Their "agreed value" as @KC360 FL mentioned, is crap. They'll never pay that. If they are not willing to pay for a total loss of a vehicle only at $28K Kelly value then there is no way they'll pay for your $150+K F430.

GEICO insured me through their luxury/classic branch and I pay $2,600/year with no mileage restriction, full coverage and $500 deductibles. I do have a perfect *knocks on wood* driving record. A bit much I know, but I rather go with big companies that have strong track record. State Farm is a big company too but they are notorious with their "terms and conditions" with when s*** hits the fan.

Progressive doesn't have a luxury/classic branch unfortunately.

 

Your best bet Chubb

 

Good timing for this.

I called American Collectors today to reinsure my 2006 430 with 20,800 miles I just bought back last month.
The rate was $1700 last year with $130,00 agreed value. (18,500 miles)
Today the rate is $2950.33 with $150,00 agreed value. ($2550 today with $130,000 agreed value)

I will start calling around the folks y’all recommend. In can’t see the reason for the for that massive jump and neither could the lady on the other end of the phone. I have no tickets and no car loans, neither does my wife.

Mat

 

Insurance market is insane right now. I have 7 vehicles insured between two carriers, including an F12. When I recently picked up an 07 F430, my existing carriers wouldn't touch it. They have stopped writing policies on their view of "high-end expensive cars." Porsches yes, but Ferrari, Lambo, McLaren, Bentley, AM, RR...forget it.

I ended up with a standalone policy with Hagerty. Even for that I had to fill out a form on my experience with high performance vehicles, driver training, etc.

I use a broker. He has warned me I'm going to have to switch to Chubb or AIG to insure these cars and my house on the next renewals. My homeowners went up 50% in November. I'm 51, married, no points, no claims, employed, and a FICO score regularly bouncing off 850.

 

AFAIK, state farm does not have an agreed value policies.

 

I found Grungy to be the winner at around $1800 for the year. I used your basis as this is exactly what I have/need.

 

Grundy / ACV $130K/ $1600 per year/ $0 deductible/ windshield replacement covered/ free towing up to 150 miles/ not sure about mileage restriction.
The price may drop since I left CA..

 

The last time I checked they did not. I'd advise folks to not believe their lies and promises about a "Guaranteed Value" policy.

As It was told to me by my agent at the time of my loss, "Guaranteed Value" meant that it was the maximum they were "guaranteed" to pay. Which is worthless and allows them to hold all the cards.
I fought them for 2 years with appraisals, receipts (it was a restored car), and a verified Certificate of Authenticity-- all of which they simply ignored.

This is a cautionary tale if ever there was one.

 

For the past couple years I have not been able to find good rates. I am still with Grundy. Originally I was fully insured at $1,100 a year. A couple years ago it randomly changed to $2,400. Bit annoying as I have had no speeding tickets or claims.


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Anybody else using Allstate? My Allstate rep was setting me up with a Haggerty policy, but Haggerty wanted documentation that I have previous experience driving high horsepower vehicles. Even though I have, I've never owned one "more than 500 hp" so Haggerty refused to cover until I have one year of ownership under my belt. One year of coverage is $2600 for the F430 with no mileage limits through Allstate currently.

 

Allstate in NJ wouldn’t cover my F430. They had an issue with cars which had a base MSRP over $150k regardless of age. Strangely they have insured my 996 GT3 since new but the base price was less than $150k even though the price with options was above it.


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You guys wouldn't believe how much I pay on my F430 on an agreed value of 180k with Grundy.

 

Give us a shot at believing or not.

None of this means anything until you have a big claim. Insurance companies are not your friend. Never have been and never will be. I am in Louisiana and the Ins companies have been loosing their ass because of storms so our rates are going through the roof for anything and every thing that we try to insure. Many companies went belly up and many just left the state. Hard to blame them. Ins companies exist to make money and collect premiums from you. Not to pay money to you.

 

Yup, true that ....but we can only go on what polices that are available. I've heard nothing but good things about Grundy....the underwriter is Cincinnati.
180k agreed value, full coverage, 4k miles a year (I'm in the Seattle area and drive mostly in Summer) , 1k deductible , 4 cars and 1 home, along with 1 million personal coverage. turning 54 in march.
$260 a year.

 

Wow, great pricing.....I pay 1200 year 3m coverage and my 5m umbrella follows suit on top. State farm, had them for 30+ years. My understanding, in calif, is that they have to go out on the market and find cars to replace my loss. Good luck on a 360 spider, gated, in great shape. I have been treated fairly well well by state farm..

 

I am in Maui with an 07 430 and pay $593/year with First Insurance. My new Tesla Model3 is $876/yr.

It helps a lot that we insure two cars and our house with them. That alone took 30% off all the rates.

It makes a big difference where you live and how much they have paid out in your area on other cars.

We have little crime ,traffic, or accidents in Upcountry Maui

 

They don't, and any agent that says so is lying. What they do in a total loss is establish market value and pay that. I trust that my agent of 20+ years is honest about how they pay out. The rates from the specialty insurers is just eye watering.

 

Grundy are .... crooks. I tried to ensure with them, and they mentioned that the car cannot be used for "chores". So if you get a bump in the parking lot (Walmart, supermarkets, etc) they will not pay. Anything that is not "occasional and leisure use" will not be covered on a Ferrari. And it's their latitude to decide what that means when you make the claim.

 

Sad to say that almost all insurance companies are Dishonest at best, will do anything and everything to keep from paying a legitimate claim, and will threaten to cancel your policy on a whim.

I just read that State Farm is now refusing to insure Hyundai and KIA automobiles because, in their opinion/estimation, they are not equipped with the proper anti-theft devices.
Yet on the other hand, they have raised homeowners insurance in some cases nearly 90% beginning late last year.

Keep raising premiums relentlessly. Fight every legitimate claim. Payout as little as possible --- whether fair or not. Knowing full well you cannot drive without insurance required by law.