Insure your Ferrari 550 Maranello for Much Less than you Think
If finding cheaper car insurance was fun, we'd make the time to do it regularly. But the reality is, you probably don't enjoy it and you think it costs too much. Buying insurance on your Ferrari 550 Maranello might leave you feeling the same way.
Step One: Compare Apples-to-Apples Quotes
Up until just recently, the only option you had for shopping for insurance was getting a high pressure sales pitch in the office of your local insurance agent. Times have changed!
Comparing apples-to-apples price quotes for your Ferrari 550 Maranello is made easy by only requiring one form to be completed. This will shop your coverage with multiple companies and allow you to easily compare rates.
Take the first step by clicking the link below. By answering a few questions you'll be able to compare rates quickly and easily.
Quote Tip! When doing car insurance quotes for your 550 Maranello, make sure you use the exact same values for coverages and deductibles. If you use different limits, you will not be able to fairly compare rates between different companies.
Step Two: Insider Tips for Finding Cheaper 550 Maranello Insurance
There are many factors that actually determine what you will pay for insurance, and some are completely within your control.
- You can definitely expect to pay a little more for insurance due to the performance level of your Ferrari 550 Maranello. Vehicles with less power and speed tend to cost less to insure.
- Membership has it's privleges. If you're a member of a professional organization, check to see if your company offers discounts to its members. It can add up to 5% or more.
- Repair shops have more expenses when repairing damage on luxury vehicles, so they will charge your insurance company more to make the repairs. This will be evident in your insurance rates even if you don't have a claim.
- 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.
- Sporty cars are fun to drive, and that's why you'll pay more for insurance. The tendancy to put the pedal down a little harder means a higher insurance rate for the 550 Maranello.
- Teen drivers have a tendancy to learn the hard way when driving, and that means having a few fender-benders. Rating them on a high profile newer vehicle can be very expensive so you might consider buying an older model vehicle for them to drive and only insure it with liability coverage.
- Most of us have received a ticket at one time or another. If you get a ticket for a minor violation, find out if there is a safe driving class you can take to keep the ticket off your driving record.
- 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.
- Filing too many claims with your company can end up either costing you more for insurance or having your policy cancelled. Insurance companies don't like paying any more than you do, but they have the option of whether to keep you as a policyholder or not.
- If your 550 Maranello ranks on the list of vehicles that are frequently stolen, that can result in a higher rating class and a more expensive rate.
- Each year make a habit of checking your credit score. If you find problems that may be dragging down your credit rating, address them immediately. This will result in significant savings on car insurance.
- Driver's safety courses will often get you a discount off your rates. Check to see if your company offers the discount and find a qualifying class in your area.
- Having any gaps in coverage (known as a lapse) is bad in the eyes of any insurance company. Make sure you keep coverage in force at all times by synchronizing the expiration and effective dates of your policies.
- Bundling your auto and home insurance with the same company can often get you a discount, and just being a homeowner in itself will get you a lower rate.
Step Three: Make an Informed Buying Decision
Now that you hopefully have several rates to compare and have made any changes needed to your individual coverages, you can choose the best company to insure your 550 Maranello with.
On your new policy, double check that the effective date is the same as the date you are cancelling your old policy. This avoids any lapse in coverage which can cause an increase in your rates.
If this is a new policy with only the Ferrari on it, be sure to have coverage before leaving the dealership or car lot. If you're adding it to an existing policy, you have anywhere from 15 to 30 days depending on the company. Anytime you buy a vehicle, you want to make sure coverage is in place before driving off the lot. If you have a policy now, you will have at least liability coverage. But if you don't insure any vehicles with full coverage, then you will put your new 550 Maranello at risk as soon as you drive away.
Once you finish buying your new policy, you will need to print out the proof-of-insurance card that is provided by your new company. This card is proof that you meet the state's minimum liability limits and is required to be kept in your vehicle. SR-22 filings are for high risk drivers and ensure that you have met your state's financial responsibility requirements. If you have DUI, DWI or uninsured accident convictions, you may have to file an SR-22 with your state DMV.
For More Information
To find out more information such as auto insurance myths, rental car insurance and how to file a claim, visit the Insurance Information Institute website.
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