How to Get the Absolute Best Rates When Insuring a Ferrari F355 Spider

No one in their right mind enjoys paying for auto insurance, in particular when their premiums are through the roof.

You have so many car insurance companies to buy insurance from, and although it’s nice to be able to choose, lots of choices makes it harder to find the lowest cost provider.

Consumers need to shop coverage around before your policy renews because prices are adjusted regularly by insurance companies. If you had the best price on F355 Spider insurance last year you may be paying too much now. You’ll find quite a bit of inaccurate information about auto insurance on the internet, so by reading this article, you’re going to learn the easiest ways to quit paying high auto insurance rates.

Take discounts and save

Companies that sell car insurance don’t always list every discount very well, so here is a list both well-publicized as well as the least known auto insurance savings.

• Sign Online – Certain companies will discount your bill up to fifty bucks for buying your policy digitally online.
• Multiple Vehicles – Having multiple vehicles with the same company can get a discount on all vehicles.
• Pay Upfront and Save – By paying your policy upfront instead of paying each month you could save 5% or more.
• Homeowners Discount – Being a homeowner can save you money due to the fact that maintaining a home is proof that your finances are in order.
• Distant Student – Kids in college who live away from home and do not have access to a covered vehicle can be insured at a reduced rate.
• Military Discounts – Having a deployed family member could be rewarded with lower premiums.
• Anti-theft System – Anti-theft and alarm systems can help prevent theft and therefore earn up to a 10% discount.
• Good Student Discount – Getting good grades can get you a discount of up to 25%. Earning this discount can benefit you up to age 25.

Drivers should understand that some credits don’t apply to the entire policy premium. Most only reduce individual premiums such as liability and collision coverage. So when the math indicates all the discounts add up to a free policy, auto insurance companies aren’t that generous.

To see a list of companies offering auto insurance discounts, click here to view.

Lesser-known factors impacting Ferrari F355 Spider insurance rates

An important part of buying insurance is that you know the different types of things that help determine auto insurance rates. Having a good understanding of what determines base rates empowers consumers to make smart changes that will entitle you to big savings.

The following are some of the factors used by your company to calculate prices.

• Extra coverages can waste money – There are a ton of additional coverages that can waste your money if you aren’t careful. Things like roadside assistance, accident forgiveness and additional equipment coverage may be costing you every month. These coverages may sound good when talking to your agent, but now you might not need them so remove them from your policy.
• Your location affects your rates – Residing in a rural area has it’s advantages when buying auto insurance. Urban drivers have congested traffic and longer commutes to work. Less people living in that area means reduced accidents and a lower car theft rate.
• Where do you drive? – The higher the mileage driven every year the higher your rates will be. Most insurance companies apply a rate based on how the vehicle is used. Autos left parked in the garage can get a lower rate compared to those used for work or business. An improperly rated F355 Spider can result in significantly higher rates. Make sure your auto insurance declarations sheet shows the correct usage for each vehicle, because it can save money.
• Save money with special equipment – Purchasing a vehicle with a theft deterrent system can help bring down rates. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping auto theft.
• Do you have enough liability coverage? – Liability insurance will protect you in the event that a court rules you are at fault for damages caused by your negligence. Liability insurance provides you with a defense in court which can be incredibly expensive. Liability is cheap compared to physical damage coverage, so do not cut corners here.
• Do you work long hours in a high stress job? – Jobs such as judges, social workers and stock brokers have the highest rates because of stressful work requirements and long work hours. On the other hand, jobs such as farmers, students and the unemployed get better rates on F355 Spider insurance.
• Safe vehicles cost less to insure – Cars with high safety ratings get lower rates. The safest vehicles have better occupant injury protection and any reduction in injury severity means lower claim amounts and more competitive rates for policyholders. If your Ferrari F355 Spider scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.

Can you really save $460 a year?

GEICO, State Farm and Progressive continually stream television and radio advertisements. All the companies say the same thing of big savings after switching your coverage to them. But how can every company make the same claim?

All companies are able to cherry pick for the right customer that earns them a profit. For instance, a desirable insured might be profiled as over the age of 40, has no driving citations, and has excellent credit. A driver who fits that profile will qualify for the lowest rates and most likely will save a lot of money.

Potential insureds who don’t measure up to the requirements will be quoted more money and ends up with business not being written. Company advertisements say “customers that switch” not “people who quote” save that much money. That’s why insurance companies can confidently state the savings. This emphasizes why it is so important to get a wide range of price quotes. It’s not possible to predict which auto insurance company will give you the biggest savings.

And the best car insurance company is…

Budget-conscious Ferrari F355 Spider insurance is attainable online as well as from independent agents, and you should be comparing both to have the best rate selection. Some insurance companies don’t offer online quoting and many times these smaller companies only sell through independent insurance agents.

We’ve covered a lot of ways to save on Ferrari F355 Spider insurance. The key concept to understand is the more you quote, the better likelihood of reducing your rate. You may even find the best price on auto insurance is with some of the lesser-known companies. These companies may have significantly lower rates on certain market segments than their larger competitors like GEICO and State Farm.