Tightwads Guide to Insuring a Ferrari 348 GTB
If comparing car insurance was easy, most of us would do it more often. But it's actually not a real enjoyable process for the majority of people and we always seem to end up paying too much. Finding affordable coverage for your Ferrari 348 GTB probably is no different.
Step One: Compare Multiple Rates
Up until about ten years ago, the only way to shop for car insurance was in the office of a local insurance agent where you'd get a hard sell into a policy. But now you can eliminate that hassle and buy online!
Comparing insurance rates for a Ferrari 348 GTB only require you to enter your information once. You'll receive multiple quotes and can easily compare rates.
To find affordable coverage for your Ferrari 348 GTB, the first step is to click the link below and complete the short form.
Quoting Tip! The only way to compare rates from multiple companies is to use identical coverage amounts and deductibles on each quote. If you use different limits on quotes, you cannot accurately determine which company has the best rates for your 348 GTB.
Step Two: Best Ways to Lower your 348 GTB Insurance Cost
After completing step one above, you can now learn some of the other ways to slash your 348 GTB insurance costs.
- Some people just like the looks of a higher performance vehicle like the Ferrari 348 GTB, but even if you don't use the extra power it's going to cost you more when your insurance bill arrives.
- One of the best ways to lower your insurance rates is to raise your credit score. Check your rating once a year and make sure to address any problem areas immediately.
- Repairing accident damage generally costs more for the 348 GTB because the replacement parts cost more. You can expect your car insurance bill to reflect these higher costs for repair.
- The time it takes to complete a driver's safety training course could be time well spent. It could save you up to 10% off your car insurance rates.
- If cheap insurance is your goal, then the 348 GTB is maybe not your best choice of vehicle. Sport cars cost more to insure even if you're a good driver.
- When buying a new policy, you do not want a gap in coverage. This lapse is viewed by insurance companies as a high risk, and you will pay more for your next policy.
- Renters will find they may be paying more for insurance as compared to homeowners. Owning a home can often get you a small discount on your car insurance.
- Car insurance disounts for senior citizens are often offered by companies as well as discounts for belonging to a professional organization.
- Comprehensive and collision coverages make up the majority of your car insurance bill. If you raise your deductibles, you can will see significant savings with every policy renewal.
- Car insurance rates for a teen driver on a Ferrari 348 GTB will be expensive no matter what kind of coverage you have. But if you don't need comprehensive and collision, consider dropping those to save money.
- Speeding not only costs you a fine, a single ticket will raise your car insurance rates for up to three years. Slow down and be a safe driver and you'll pay lower rates.
- If your vehicle comes with safety features such as electronic stability control, head restraints, all-wheel drive or air bags, these all help keep insurance costs down by helping reduce accident injuries.
- A claim-free discount can help keep your rates down, so don't file claims that are only marginally more than your deductible. You're better off keeping the discount.
- Particular years and models of cars tend to be frequently stolen, and if your 348 GTB is on that list, chances are your insurance company knows it and will ding you a little extra because of it.
Step Three: Buy the Policy That's Right for You
Purchasing an insurance policy is more than just clicking a button. You need to have funds available to make payment and you need to be sure that the coverages are adequate for your personal situation.
If you're cancelling an old policy, make sure the new coverage starts the same day your old policy ends. This avoids any penalty for having a lapse in coverage which can cost you more.
Any time you buy a new vehicle, make sure you have car insurance in place, either from an existing policy or a new policy that you purchase from the dealership floor. When driving off the lot, you may have coverage that extends from your current policy. But it will only be equal to the most coverage you have on any vehicle. So if you only carry liability coverage, you won't be covered for full coverage until you specify it on your policy.
All states require you to keep the proof-of-insurance or financial responsibility card in your vehicle at all times. Failure to produce this document can result in a citation. High risk drivers may be required to submit an SR-22 with their state DMV's. If you have been convicted of reckless driving, DUI or had an uninsured accident, you may qualify. Make sure your new policy reflects the need for the SR-22 filing.
More Resources for Insurance Buying
To read more about topics such as how to file a claim, replacement auto parts and mistakes to avoid, visit the Insurance Information Institute website.
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