Steve N.

I'm about to pull the trigger on a silver car which my dealer expects to receive in a few days. I haven't called my longstanding insurance agent yet to see if they will even cover this car - and if so, at what price. I am wondering if "specialty" insurance companies - such as those marketing to the collector car group - might be a better choice for a car of this nature. I could accept an annual mileage limitation if that would be helpful - this is not going to be a grocery wagon or commuter ride.

I don't mind writing the check for the car, but it irks me to pay for the damn insurance - deriving from many, many years of paying for coverage, with essentially a zero loss record.

So, any suggestions?

DMin

I know Haggerty is underwriting these cars, but usually local agents that you have been working with will underwrite it for you if you have a good history with them.

Most folks on this forum that have a C-GT have been able to get coverage from their regular companies.

D. Min
Tulsa, OK

ben in lj

yes, mine is just with State Farm with a 7500 mile/year limitation - though i could get an unlimited from them if necessary. PM me the particulars of your deal and i'll let you know if any of the new 04 and 05 cars i know of that are available would be more attractive to you.

W8MM

Mine is insured by my regular carrier for about $2400/yr at a stated replacement value with a 4,000 mile/yr driving limit. My long-time agent talked the carrier into underwriting it as a collector car which usually means it's over 25 years old.

Since I, too, have a nearly zero claims history with them for a small fleet of personal cars, it was not difficult for my agent to talk them into the slight deviation from normal policy

GoFastKindaGuy

At the risk of being overly ****, be careful to have "unusual exceptions" -- like "collector car not 25+ years old" -- clearly documented and approved. If you ever have an expensive CGT claim, you are likely to have a fight on your hands. (Sorry if I'm preachy, but I've seen it happen.)

W8MM

Frankly, I don't see the problem since the underwriter made the rule deviaton. The underwriter might get fired over it, but he binds the insurer to the deal.

Steve N.

Thanks all for the feedback. I am set to have initial coverage through my existing agent, but at a cost yet unknown. This will allow me to assume ownership, let my agent work his possible sources of coverage, and then price shop elsewhere if his options seem to be high.

sharky47

Steve, if you ever make a trip out here to Fredericksburg, let me know! I'd love to see one of these amazing machines in person.

smokeygt

I'm dragging out this old thread as I'm shopping for insurance now. Finally the weather has broken and the salt is off the roads. Which company is better, more friendly, etc? What are the going rates now?

CGT000

What is your stated replacement value if you don't mind me asking?

smokeygt

CGT, that is from W8 in 2005, I restarted this old thread, 9 years later. Finally have the time and weather to take the gal on the road. Just wondering what other's experience has been.

W8MM

Was $500,000 for many years. I recently increased it to $850,000. The underwriter asked how I could support the new valuation, so I sent him web cribs of ads (w/discussion threads attached) on FerrariChat, here, and elsewhere. No problems after I submitted my research.

nuvolari612

I should adjust for winter vs summer rates.

Thirteen vehicles all with State Farm - replacement value.

State Farms program saved me when my kids were young - they don't require them to be full insured unless / until they have an accident. Saved me 1000.00+ each per kid for 4 years. The exotics run around 2500.00 per year.

There was a similar thread on Mclaren Life - worth doing a search most people have no idea what they pay for and only find out - too late.

Agree with W8MM - 850k for colors 750 - 800k for Silver is easily justified.

Jamie140

RIP

CGT000

Thank you for sharing. I recently increased the agreed value of my red one to $800,000 with a premium of $5300. Looks like I am being ripped off