Finding insurance for a car as special as a Ferrari is slightly different than getting a policy for a VW Golf. You have to take the rarity, the value, and the power of your Ferrari into account as you begin shopping. You also have your driving patterns and other factors to consider as well. Most insurance companies also view exotic cars like a Ferrari differently. To help you find a good car insurance policy for your Ferrari, here are some tips and tricks you can use.
Start with the Basics
Before you begin searching for quotes, you need to understand a few basic details about your car, starting with the model you own and its engine capacity. A Ferrari 488, for instance, is classified differently than the Ferrari 458 from a few years ago. You will even find the insurance group for a Ferrari 458 Italia to be different than that of the Ferrari 458 Spyder.
You also need to answer a few questions before you begin your search. How often do you want to drive your Ferrari? Will you be using the car on long journeys? Are you planning to drive the car outside of the country? All of these details will affect the kind of car insurance you need and the insurance premium you have to pay.
Search for Quotes
Searching for quotes is the easy part. You no longer have to contact insurance companies individually just to get quotes from them, especially now that you have Insuranks at your fingertips. Visit the quote search tool - accessible via https://www.insuranks.com/Auto-Insurance/Car-Insurance-quotes - and begin searching for quotes immediately.
The next thing to do is compare the quotes you receive. This is where you will see how the details about your Ferrari can indeed affect your insurance bracket and the cost of getting sufficient car insurance coverage. That last part is very important. You want to make sure that you get sufficient insurance coverage and the right set of coverage. Sufficient collision coverage, for instance, will help you deal with the cost of repairing your Ferrari (or writing it off) in the event of a collision with another car.
Reducing Your Insurance Premiums
Just because you are insuring a Ferrari, doesn’t mean you cannot take steps to lower your premiums. The insurance premium for a Ferrari can be upwards of $2,500 per year, so there are plenty of reasons to reduce your premium without reducing the coverage.
You can start by making sure that the car is parked in a safe – indoor – location at night. You can also reduce your annual mileage and limit the use of the car to special occasions only. Lastly, make sure you contact the insurance companies whose quotes appeal to you for additional discounts and special offers. You can also choose to increase your out-of-pocket expenses, especially if you don’t intend to use the car often.
Complete these steps and you will find the right insurance policy for your Ferrari. With the car properly insured, you will have a much better time driving your Ferrari, sampling its power, and taking it on road trips.