Insure your Ferrari Enzo for Much Less than you Think
If finding cheaper car insurance was fun, we'd make the time to do it regularly. But we always seem to pay too much for coverage and most people would rather go to the dentist. Buying insurance on your Ferrari Enzo might leave you feeling the same way.
Step One: Compare Apples-to-Apples Quotes
In years past, the only way to purchase car insurance was to visit the office of a local agent. But now you can eliminate that hassle and buy online!
The best car insurance companies offer online quoting for a Ferrari Enzo and it's very easy to compare different rates by only using one form.
To begin, click on the link below and complete the short form. It only takes a few minutes and it's helpful to have your current policy handy if you have one.
Quote Tip! When doing car insurance quotes for your Enzo, 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: Techniques to Lower your Enzo Insurance Rates
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 Enzo. Vehicles with less power and speed tend to cost less to insure.
- Before a comprehensive or collision claim is paid by your company, you have to pay a deductible first. The more you're willing to pay, the lower your rates will be. Consider raising your deductibles to $500 or even $1,000.
- Repair costs generally trend higher as the price of a vehicle goes up. So by owning a Enzo, you can expect higher repair bills and also higher insurance rates because of this.
- Do you keep your credit rating in good shape? If you do, you will get a better rate than if you let your credit score slide. Check your credit score regularly to make sure there are few blemishes on your record.
- 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 Enzo.
- 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.
- Having recently completed a class in driver's safety could earn you a discount of 5% to 10%. Check with your insurance company to see if they offer that credit.
- If you think the only financial impact of a speeding ticket is a fine and court costs, think again. Insurance companies will raise your rates for up to three years for a single ticket.
- 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.
- 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.
- 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.
- Claims that aren't much more than your deductible are better off just being paid out of pocket. If you get into a habit of filing smaller claims, you will pay for it in higher rates.
- Members of many professional organizations can receive discounts on car insurance, and if you're a senior citizen, that could earn you an additional discount.
- 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.
Step Three: Make an Informed Buying Decision
Car insurance is pretty easy to buy online, but you do need to be aware that it is a legally binding contract. You need to have funds available for a down payment as well as review your coverages for any insufficiencies.
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.
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. If you have a current policy and you only carry liability coverage, then that's the only coverage that will automatically extend to your Enzo. But if you currently carry full coverage, comprehensive and collision coverage will extend to your new vehicle.
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 your state requires you to file an SR-22 for being a high-risk driver, make sure your new company is aware of this requirement. Failure to comply can result in loss of your driver's license.
More Insurance Buying Tips
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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