Ferrari 488 Insurance

[FA57EST]

Hi all.

I have used Admiral for many years without any hiccups on my Supercars, but this year at renewal their premium has shot up from £900 pa to £1600 pa on this car without anything changes my end. Big jump!

Do any of you use Brokers/ Insurance companies that are more competetive, or have a multi car policy for 3-4 cars that allows you to chop & change cars? If so, please kindly share as I need to sort this by Friday.

Thanking you in advance!

Michael

[mike01606]

FA57EST said:

Hi all.

I have used Admiral for many years without any hiccups on my Supercars, but this year at renewal their premium has shot up from £900 pa to £1600 pa on this car without anything changes my end. Big jump!

Do any of you use Brokers/ Insurance companies that are more competetive, or have a multi car policy for 3-4 cars that allows you to chop & change cars? If so, please kindly share as I need to sort this by Friday.

Thanking you in advance!

Michael

I use Hiscox through AIB (Sponsors on here) for a 360 plus 2 daily drivers and a Camper..... I paid in May 16 a little bit more than your latest quote. Can't wait for renewal!

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

[355fiorano]

In my experience, if you don't have a competing quote you normally don't get a good price.
I use mainly Chubb and Hiscox. Chubb was about 150% more expensive the year before so I went with Hiscox, this year Hiscox went to raise modestly and then Chubb came in 25% below Hiscox and half the price they quoted me last year. I did have admiral I think a few years back too but in general, similar experiences over the last nearly 20yrs of multi car ownership.
Currently use AIB and also First point as brokers but worth your time to make a few calls to a wider group.

[Mike Brown]

I'm with Aviva for my 360 and Boxster S , pay roughly 600 fully comp for the pair

[andy355]

On a 488 of circa 200k value I think that is pretty cheap. By comparison on my Cali t (value 160k) and RR evoque (value 35k) I was paying over 4K. That was hiscox or similar private clients policies. Full ncb, no claims or points. Central London secure garaging

There is a big step from admiral types to say a direct line/Aviva and then a jump to the private client guaranteed value policies. Are they worth it? No idea, to be honest but I was concerned about them paying out, how much they would pay out and choice of repairers etc. Hard call though as I felt it was far too expensive especially given the low miles I drive

[Chris Stott]

Brother-in-law insures his cars through NFU. He's paying under £1k total for a Tesla P90D, 991GT3 and a Cayenne S Diesel.

[FA57EST]

Chris Stott said:

Brother-in-law insures his cars through NFU. He's paying under £1k total for a Tesla P90D, 991GT3 and a Cayenne S Diesel.

Thanks guys.

I can make a few more calls. Yes a couple more brokers quoted me £2,200 to £3,500 for the 488 today.

Chris that seems very cheap. Googling NFU it comes up as NFU mutual. Is that correct? Thanks in advance for clarifying.

[Chris Stott]

FA57EST said:

Thanks guys.

I can make a few more calls. Yes a couple more brokers quoted me £2,200 to £3,500 for the 488 today.

Chris that seems very cheap. Googling NFU it comes up as NFU mutual. Is that correct? Thanks in advance for clarifying.

Yes, that's them.

He moved to them when he got the Tesla a couple of years ago - got silly quotes from the usual suspects (2-3k), someone suggested NFU, he called and they covered him for under £300. He is very low risk though - over 40, one of the lowest risk cost codes in England, cars garaged, never had a claim, never had any points... but still, insuring a 991GT3 for under £300 is stupid cheap IMO.

[sone]

FA57EST said:

Hi all.

I have used Admiral for many years without any hiccups on my Supercars, but this year at renewal their premium has shot up from £900 pa to £1600 pa on this car without anything changes my end. Big jump!

Do any of you use Brokers/ Insurance companies that are more competetive, or have a multi car policy for 3-4 cars that allows you to chop & change cars? If so, please kindly share as I need to sort this by Friday.

Thanking you in advance!

Michael

I found Elephant much cheaper than Admiral which is strange as they're the same group companies I believe! One word of warning I insured with Admiral a few years ago on line. Unusually for me I took the time to read the schedule through when it was sent to me, within the schedule it said you must admit to any driver awareness courses. I called them to admit I'd been on one and paid about 20% for the privilege.
elephant made note of the DAC but were otherwise uninterested and didn't charge!

[FA57EST]

Thanks guys. I've got a few more calls to make tomorrow from your recommendations. Thanks

[Yipper]

Have you tried calling Admiral and negotiating with them on the phone?

My multicar renewal last month went up about ~£300 in the automated quote. One quick call and a threat to leave and they chopped ~£250 off and it was almost back to the previous year's quote (and cheaper than anything on comparison sites or tailored insurers).

[mickyblue]

I was using Aviva through Adrian Flux for my F430 - but I've just changed for a 488 GTB and they switched me to Axa instead - a much better deal.

Micky

[TonyF]

I to am with Admiral and come renewal time the premium jumped up significantly. I called Admiral and asked why as nothing had changed from the previous year ( 3 cars, Bentley 4.0 V8 gtc, Ferrari 458 spider & Ferrari 488 gtb ) they couldn't really give me a valid answer but stuck to the increase so I said I would ring round as I wasn't going to pay the extra and after speaking to their manager offered renewal slightly lower than last years premium !!
How does that work ??
I took them up on there offer though £1320 fully comp for all 3 cars.

[gigglebug]

Renewal quotes are always high, it's why they can then claim to save an average of x amount on quotes in their advertising. It's no different to a DFS saving really, the only reason anyone would have paid the full price for one of their sofas would be if they were mental!

[FA57EST]

Tasnks guys. Yes I have a fight with Admiral every year & they normally topple quickly but this time they've only dropped from £1850 to £1650 instead of sub £1k.

So far:-
Elephant want £1850 (same company)
Aviva won't cover me due to car value
Brokers are coming in at £2400 to £3500

Looks like as this is a brand new model (only just coming into U.K. as rhd models) they're pushing up the premiums

Will try a few more lol

[anonymous-user]

Have you tried Manning? (https://manninguk.com) Not necessarily the cheapest but very good and track insurance included.

[F355GTS]

Genuinely surprised people use general insurers like Admiral for cars/ fleets of this type/ value, IMHO it's well worth looking beyond the premium ie do they pay agreed value?, do they allow you to choose the repairer? it's been suggested some have been known to use used parts to repair?

If you're calling round try MRIB in High Wycombe, for me this years policy with Chubb Masterpiece is not much more than £4k for 2 Ferraris, 2 BMWs, a Discovery and Caterham all with agreed value, repairer of choice, any driver and insured to drive any car fully comprehensive

[AndyGarton]

The scheme run by Locktons under the Ferrari Owners Club banner is good in my experience. Perhaps not the very cheapest, but very good cover and service.

http://www.locktonperformance.com/our-cover/ferrar...

[griff7]

F355GTS said:

Genuinely surprised people use general insurers like Admiral for cars/ fleets of this type/ value, IMHO it's well worth looking beyond the premium ie do they pay agreed value?, do they allow you to choose the repairer? it's been suggested some have been known to use used parts to repair?

If you're calling round try MRIB in High Wycombe, for me this years policy with Chubb Masterpiece is not much more than £4k for 2 Ferraris, 2 BMWs, a Discovery and Caterham all with agreed value, repairer of choice, any driver and insured to drive any car fully comprehensive

Completely agree.I'm with Chubb and the levels of cover are superb and with the values of many cars going up they even cover up to 150% of the agreed value without even making a call.

[Durzel]

griff7 said:

F355GTS said:

Genuinely surprised people use general insurers like Admiral for cars/ fleets of this type/ value, IMHO it's well worth looking beyond the premium ie do they pay agreed value?, do they allow you to choose the repairer? it's been suggested some have been known to use used parts to repair?

If you're calling round try MRIB in High Wycombe, for me this years policy with Chubb Masterpiece is not much more than £4k for 2 Ferraris, 2 BMWs, a Discovery and Caterham all with agreed value, repairer of choice, any driver and insured to drive any car fully comprehensive

Completely agree.I'm with Chubb and the levels of cover are superb and with the values of many cars going up they even cover up to 150% of the agreed value without even making a call.

+1

Don't know why anyone would go with the high street places for cars of this value. I wanted an agreed value policy for my 458 for starters, and the policy I ended up with from AIB (Hiscox) had various nice extras that were commensurate with the vehicle (DOC, Euro breakdown, etc)