How to Save Money on Insurance for your Ferrari 599 GTB
If comparing car insurance was easy, most of us would do it more often. But the premiums we pay always seem to be too high and most of use would rather get a tooth pulled. You might feel the same pain when having to pay the bill on your Ferrari 599 GTB.
Step One: Compare Multiple Rates
If you haven't priced insurance for awhile, you may still think that the only way to compare rates is to drive around town to multiple insurance offices and meet with an agent. Welcome to the NEW way to buy car insurance!
Almost every car insurance company now offers online quotes, and you can actually get insurance quotes for a Ferrari 599 GTB without even visiting their websites!
Compare rates now by clicking the link below. In just a few minutes you'll have a good idea of what insurance will cost for your Ferrari 599 GTB.
Important! If you already have liability and physical damage coverage on your 599 GTB, it's important to keep the same limits and deductibles throughout the quote process. This allows you to fairly compare rates for many companies. If you use different limits and coverages for each quote, you won't be able to judge if the final rate is better or worse than other quotes.
Step Two: Tried and True Ways to Save on 599 GTB Insurance
After completing step one above, you can now learn some of the other ways to slash your 599 GTB insurance costs.
- Cheap insurance rates and high performance don't usually mix. If low rates are your goal, the Ferrari 599 GTB is probably not the best vehicle due to it's above average performance.
- Thieves tend to steal certain makes and models of vehicles more than others, and if your car is on that list, expect to pay higher insurance rates because of it.
- OEM repair parts for the 599 GTB cost more due to the higher quality. You will pay more for insurance because of this.
- If you are a senior citizen or belong to a particular professional organization, you may qualify for a break on insurance.
- Sports cars tend to have larger engines and higher top speeds which increases the chance of an accident.
- Smaller claims that hardly exceed your deductible are better off not being filed with your insurance company. Policyholders with no claims enjoy lower rates than those who frequently file claims.
- If you are a renter rather than a homeowner, you might pay a little more to insure your car. Owning a home takes financial repsonsibility and insurance companies reward those policy holders.
- Safety features such as antilock brakes, traction control and air bag systems all help reduce the cost of car insurance by keeping the passengers safer.
- If you have a period where you don't have any insurance coverage, that's called a lapse. The longer the lapse, the more you'll pay to reinstate 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.
- Successfully completing a driver's training class can help lower your rates if your insurance company offers that discount.
- If you're a young driver, you will pay more to insure a 599 GTB. There isn't anything you can do about your age, but rates will drop as you mature.
- 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.
- Consider using higher deductibles for physical damage coverages like comprehensive and collision. Higher deductibles save money since you're willing to pay more out-of-pocket at claim time.
Step Three: Choose the Right Company for You
Knowing which company to insure your 599 GTB with is more than just choosing the lowest rate. You also need to be ready to put a down payment on your policy and make sure you have all the proper coverages in place.
Car insurance policies don't have to be cancelled at the renewal date, but just be sure the new policy starts the same day you cancel your old policy. This avoids any gaps in coverage between policies.
If the Ferrari 599 GTB is a new purchase and you haven't had car insurance before, make sure you have coverage in place before driving off the lot. If you have other vehicles already covered, then you will have coverage for the new vehicle. Most car insurance companies will extend coverage to newly purchased vehicles, but only up to the limits of the best insured vehicle. So if you only carry liability insurance and no physical damage coverage, your new purchase will be inadequately insured until you specifically add it to the policy with full coverage.
Your insurance company will provide you with proof-of-insurance forms to keep in your vehicle. It's required by state law to carry at least the state minimum liability limits. If you qualilfy as a high-risk driver after being convicted of a DUI, reckless driving or driving on a suspended license, you may be required to file an SR-22 with your state's DMV. Be sure your new car insurance company is aware of this filing requirement.
Additional Learning Resources
For more information on car insurance, please visit the Insurance Information Institute's auto insurance informational page.