Find More Affordable Insurance for your Ferrari 348 Spider
If buying car insurance was fun, we'd do it as a recreational sport. Unfortunately, it's not always as easy as it sounds to get the best rate. Finding insurance for your Ferrari 348 Spider that you can actually afford is probably no different.
Step One: Insurance Quotes
If you haven't shopped for car insurance for awhile you might remember the days when the only option was to visit a local insurance agent. But you can now comparison shop and buy direct online!
The best car insurance companies offer online quoting for a Ferrari 348 Spider and it's very easy to compare different rates by only using one form.
Simply click the link below to start a quote that will compare rates from many companies and you may find a lower rate than you're currently paying.
Quote Tip! When doing car insurance quotes for your 348 Spider, 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: Tricks to Saving Money on 348 Spider Insurance
Once you have quotes in hand, you can then consider some of the other techniques for lowering your 348 Spider insurance rates.
- The performance boost offered by your Ferrari 348 Spider is going to force you to spend more for insurance. Consider trading for a lower performance vehicle in order to bring down your rates.
- Car insurance disounts for senior citizens are often offered by companies as well as discounts for belonging to a professional organization.
- The 348 Spider would be considered a luxury vehicle, and repair costs are generally higher for more expensive vehicles. This increased cost is passed on to you through a higher insurance cost.
- One of the easiest ways to cut your rates is to increase your comprehensive and collision deductibles. By having a higher deductible like $500 or even $1,000, you can save 30% or more on physical damage coverage.
- 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 348 Spider.
- If you're a young driver, you will pay more to insure a 348 Spider. There isn't anything you can do about your age, but rates will drop as you mature.
- Speeding tickets and other violations can negatively impact your insurance rates for up to three years. Get too many tickets and you'll be shopping for a new car insurance company.
- Air bags, antilock brakes, traction control, and stability control all help lower the cost of insurance due to reducing the risk of injury in an accident.
- Try to maintain a claim-free discount on your car insurance policy. Obviously you can't prevent large claims, but if they are smaller and you can afford to pay them out-of-pocket, do so.
- For some reason, car theives target particular makes and models more than others. If your 348 Spider is on the list of the top stolen cars, you might want to install an extra theft deterrent system just to be safe.
- If you have a high credit score, you will be rewarded with lower insurance rates. Conversely, if your credit rating is on the low site, your rates will be higher.
- If your city or county offers a driver's safety course, find out if your insurance company will give you a discount to complete it. It could save you up to 10%.
- Do not allow your current car insurance coverage to lapse or expire. Insurance companies have a simple way to find out when your last policy ended (called a CLUE report), and if you went without coverage for any length of time you may pay more for coverage.
- 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: Bind Coverage and Cancel your Old Policy
It's time to make a purchase decision based on your rate comparisions and and any policy coverage changes you wish to make. Once you are comfortable with the cost and coverages, you can finalize your purchase by paying your premium down payment.
If you didn't have a prior policy, then you can make the new policy effective any time. But if you're moving bewteen companies and don't want a lapse in coverage, make sure the effective date of the new policy is exactly the same as the cancellation date of the old policy.
Before you drive your Ferrari 348 Spider home, make sure you have a current car insurance policy in force. Coverage will extend to the new purchase from your policy, but if you don't have a policy then you have no protection. Coverage that extends from an existing policy is only as good as your current coverage. So if you don't carry full coverage on any vehicles, you won't have it on your new 348 Spider.
Once your new policy has been purchased, you are required to keep the proof-of-insurance card in your vehicle at all times. This is required by state law and you can receive a citation if you cannot provide it. If you have received a DUI, reckless driving citation or caused an accident without insurance, you may be required to file an SR-22 with your state DMV. Make sure your new company is aware of the SR-22 filing requirement.
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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