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Car Forum / Ferrari Cars / September 2004Insurance Idiots?
I'm going to pick up a nice, first time buyers, 308, maybe the GSTi or another flavor. My insurance agent has already told me to be sitting down when I get the quote. What's up with this? Why should a 205 hp car costing maybe $30-$50K and getting driven for 2-3K miles a year cost more to insure than my M5, which cost more, has 400hp and is driven daily? Any advice or insights into insuring a Ferrari would be greatly appreciated, especially from Canadian owners. Thanks >I'm going to pick up a nice, first time buyers, 308, maybe the GSTi or >another flavor. [quoted text clipped - 10 lines] > >Thanks Use a speciality company - one that focuses on writing policies for collector cars. Costs me less than $500 a year on my 308QV, I live in NYC. Check out Hagerty or one of the others. Typically, as long as the car will be garaged, and you have another daily driver, there will be no issue. Also, your driving record and credit score will count towards your premium (in most places). Phil <<My insurance agent has already told me to be sitting down when I get the quote.>> Get more than one quote. <<What's up with this? Why should a 205 hp car costing maybe $30-$50K and getting driven for 2-3K miles a year cost more to insure than my M5, which cost more, has 400hp and is driven daily?>> Because it costs more to repair? C. > My insurance agent has already told me to be sitting down when I get the > quote. Get a new insurance agent. My '82 400i costs less to insure each year than a 1993 Dodge pickup through State Farm. -Steve  SignatureSteven B. Cousineau, P.O. Box 230105, Tigard OR 97281 Try Wawanesa Insurance. They're originally out of Canada, I believe. I have them in California and they are very reasonable. http://www.wawanesa.com/ N.E.1. I was quoted about $2500 Canadian annual premium for an 81 308 GTSi. The only condition was that I would have to have the car appraised by one of their people. Not bad I think. > Try Wawanesa Insurance. They're originally out of Canada, I believe. I > have them in California and they are very reasonable. > > http://www.wawanesa.com/ > > N.E.1. >I was quoted about $2500 Canadian annual premium for an 81 308 GTSi. The >only condition was that I would have to have the car appraised by one of >their people. >Not bad I think. That's WAY high. I pay about $550US/year for my '84. Phil > >I was quoted about $2500 Canadian annual premium for an 81 308 GTSi. The > >only condition was that I would have to have the car appraised by one of [quoted text clipped - 4 lines] > > Phil Don't move to Canada. >Don't move to Canada. I live *just* north of NYC, and Montreal is the only other place, hmnnn ...DC too, I'd ever seriously think of moving to. ...Too bad about the 10month winters though. > >Don't move to Canada. > > I live *just* north of NYC, and Montreal is the only other place, > hmnnn ...DC too, I'd ever seriously think of moving to. > > ...Too bad about the 10month winters though. Toronto is just as nice, if not nicer, than Montreal (especially if you don't speak French), and we have ONLY 6 months of "non-Ferrari" weather. (-; State Farm was not too unreasonable, I think ~ $800 per year but then I found Progressive which is $650. That is for a 328 in Arizona, 100/300 liability limits (includes uninsured/underinsured), $45k "stated value" comp and collision w/ $1k deductible. This is a third car aka "weekend car" and so I guess insurance would be a bigger chunk if it was a primary vehicle. But I don't have any annual mileage limits with my current policy. Ted. > > >Don't move to Canada. > > [quoted text clipped - 5 lines] > Toronto is just as nice, if not nicer, than Montreal (especially if you > don't speak French), and we have ONLY 6 months of "non-Ferrari" weather. (-; |
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