Trying to find cheaper insurance for a Ferrari Enzo can normally be difficult, but you can learn the following methods to find lower rates.
There are more efficient ways to find auto insurance online and you need to know the absolute fastest way to quote coverages on a Ferrari and get the lowest price from both online companies and local agents.
Some factors that can determine what Ferrari Enzo insurance costs
It’s important that you understand the rating factors that go into determining auto insurance rates. Having a good understanding of what influences your rates enables informed choices that can help you get much lower annual insurance costs.
- Special features that cut premiums – Driving a car that has an advanced theft prevention system can help bring down rates. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder your car from being stolen.
- A clean driving record saves money – Just one speeding ticket can boost insurance rates twenty percent or more. Careful drivers have lower premiums than people who have multiple driving citations. Drivers who have severe citations such as reckless driving, hit and run or driving under the influence may need to submit a SR-22 or proof of financial responsibility with their state DMV in order to drive a vehicle legally.
- More than one policy can earn a discount – Many insurance companies give discounts to customers who have multiple policies with them. It’s known as a multi-policy discount. Discounts can add up to 10 percent or more. Even though this discount sounds good, it’s in your best interest to comparison shop to ensure the best deal. You may still find better rates by buying insurance from more than one company.
- Better crash test results mean better rates – Vehicles with high crash test scores can get you lower premiums. The safest vehicles have better occupant injury protection and any reduction in injury severity translates into savings for insurance companies and thus lower rates. If your Ferrari has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it is probably cheaper to insure.
- Please use or commuting – The more miles you rack up on your Ferrari every year the higher your rate. Most insurance companies apply a rate determined by how the vehicle is used. Vehicles left parked in the garage qualify for better rates as compared to vehicles used primarily for driving to work. Make sure your auto insurance policy is rated on how each vehicle is driven. If your policy improperly rates your Enzo can result in significantly higher rates.
- Don’t let your coverage lapse – Having an insurance coverage lapse will be a guaranteed way to bump up your auto insurance costs. And not only will your rates increase, but being ticketed for driving with no insurance may earn you a hefty fine and possibly a revoked license.You may need to submit proof of financial responsibility or a SR-22 with your state DMV.
- Keep rates low by being claim-free – Companies give better rates to people who are claim-free. If you file claims often, you can expect either higher rates or even cancellation. Your insurance policy is designed for major claims that would cause financial hardship.
- Your occupation can affect rates – Jobs such as real estate brokers, social workers and stock brokers tend to have the highest rates in part from high stress and long work days. On the other hand, occupations such as actors, students and the unemployed receive lower rates for Enzo coverage.
Lower rates by qualifying for discounts
Properly insuring your vehicles can get expensive, but you may find discounts to help bring down the price. Larger premium reductions will be automatically applied when you purchase, but some must be asked for before they will apply. If you don’t get every credit available, you are throwing money away.
- Anti-lock Brake System – Anti-lock brake equipped vehicles prevent accidents and therefore earn up to a 10% discount.
- New Vehicle Savings – Buying coverage on a new vehicle is cheaper since new cars are generally safer.
- Discount for Life Insurance – Companies who offer life insurance give better rates if you take out auto and life insurance together.
- Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems can help prevent theft and will save you 10% or more.
- Auto/Home Discount – If you have multiple policies with one company you will save up to 20% off your total premium.
Consumers should know that some of the credits will not apply to the entire cost. Most cut the price of certain insurance coverages like liability, collision or medical payments. So despite the fact that it appears adding up those discounts means a free policy, companies wouldn’t make money that way. Any qualifying discounts will cut your overall premium however.
Can’t I compare rates from local agents?
Some consumers just want to get advice from a local agent and there is nothing wrong with that. Licensed agents are trained to spot inefficiencies and help you file claims. One of the best bonuses of price shopping on the web is you may find the best rates and still choose a local agent. Supporting local insurance agencies is important particularly in smaller rural communities.
By using this quick form, your coverage information is emailed to participating agents who will return price quotes to get your business. There is no reason to even leave your home as quotes are delivered straight to your inbox. How cool is that?!
Captive agents vs. Independent agents
When looking for an insurance agent, there are a couple of types of agencies to choose from. Agencies are classified as either independent (non-captive) or captive. Both write coverage properly, but it’s good to learn how they are different because it can influence your selection of an agent.
Independent Agents (or Brokers)
Independent agents are not required to write business for one company but rather can write business with any number of different companies depending on which coverage is best. If you are not satisfied with one company, the agent simply finds a different carrier and you won’t have to switch agencies.
When comparison shopping, we recommend you get quotes from at a minimum one independent agency to have the most options to choose from.Most can insure with smaller companies who may have lower rates.
Captive Agents
This type of agents write business for a single company such as Farmers Insurance or State Farm. These agents are unable to place coverage with different providers so keep that in mind. Captive agents are very knowledgeable on the products they sell which helps them compete with independent agents. Consumers often buy insurance from these agents primarily because of high brand loyalty and strong financial ratings.
To view a full list of insurance agents, click here.
Selecting an auto insurance agent shouldn’t rely on just a cheap price. Ask your prospective agent these questions:
- Are claims handled at the agent’s location?
- Are there any discounts that you might be missing?
- If you are a high risk driver, do they have special markets for your coverage?
- Can glass repairs be made at your home?
- Do they review policy coverages at every renewal?
- Are they full-time agents?
- Do they receive special compensation for putting your coverage with one company over another?
- How much can you save by raising your physical damage deductibles?
After receiving satisfactory answers to any questions you have and a good coverage price, you have narrowed it down to an auto insurance agent that is a good match to properly insure your vehicles.
When should I talk to an agent?
When it comes to buying coverage for your personal vehicles, there really is not a “best” method to buy coverage. Every insured’s situation is different.
For example, these questions can help discover whether you would benefit from an agent’s advice.
- Is my custom paint covered by insurance?
- Can I afford to pay high deductible claims out of pocket?
- Does having multiple vehicles earn me a discount?
- What vehicles should carry emergency assistance coverage?
- Does medical payments coverage apply to all occupants?
- When do I need to add a new car to my policy?
- What is the minimum liability in my state?
- Which companies will insure high-risk drivers?
- Am I covered when using my vehicle for business?
If you can’t answer these questions but a few of them apply then you might want to talk to an insurance agent. To find lower rates from a local agent, complete this form. It is quick, free and you can get the answers you need.
The best insurance company isn’t always the cheapest
You just learned a lot of ways to save on Ferrari Enzo insurance. The key concept to understand is the more providers you compare, the more likely it is that you will get a better rate. You may be surprised to find that the most savings is with a company that doesn’t do a lot of advertising.
People who switch companies do it for many reasons like not issuing a premium refund, questionable increases in premium, policy non-renewal and even high rates after DUI convictions. Whatever your reason, finding a new auto insurance company is pretty easy and you might even save some money in the process.
The cheapest Ferrari Enzo insurance can be purchased both online as well as from independent agents, and you need to price shop both to have the best chance of lowering rates. Some auto insurance companies don’t offer you the ability to get quotes online and most of the time these small, regional companies sell through independent agents.
