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insuring a Ferrari

1662 Views 6 Replies 6 Participants Last post by  jagguy
I am looking to purchase my first Ferrari (probably a 308) I was wondering about insuring Ferrari's. I have been told that rates can be quite low if one insures them as a classic car. Has anyone done such a thing, or is there a company that specializes in exotic or speciality cars?

Thanks in advance.

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I have done this. The policy up here in B.C. Canada is avaliable to any kind of "classic" car ("classic" being based on age and rarity) and restricts the vehicle to "pleasure use" only. That simply means the vehicle CANNOT be driven to work and/or school. The car must also be in exceptional condition (restored/perfect original/etc). Other than that, mileage is unlimited and it can be driven 365 days/year.

The best part: $500 Cdn/year which covers collision, comprehensive, agreed value and $2million third-party coverage. Not bad, eh? :wink:

I'm not sure if this coverage is avaliable to residents outside of B.C., but I've heard of similar policies offered by some American companies (unfortunately, I can't remember who...).
im here in seattle and me and my pop bought ourselves a 79' 308 in perfect condition. insured it as a classic and with our insureance company that means no more than 3000 miles a year. which is fine and dandy. my dad is 47 and i am 22. with both our names on the policy it works out $720 a year to insure it with full coverage. if i was not on the policy it would be much less. but still only $30 a month each is not bad.
I got my insurance through American Collector's and the premium is $423.
They have a website:
:roll: Hi I just insured my mondial,Agreed value $35,000, 5000 miles, full coverage $713.00 leland west Forza magazine.. :eek:ha:
Thanks everyone. This is exactly the information I needed.
308 insurance

Got american classic ins. with full coverage including glass. Assessed value is $29k and limited to 2500miles per year anywhere I want to go. Cost is $260/year
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