cancel
Showing results for 
Search instead for 
Did you mean: 
Hagerty
Hagerty Employee

Ferrari owners actually drive their cars | Hagerty Media

Fans of Ferraris have come to expect perfection. It's well known at this point that Ferraris with "needs" (or even "questions" or "stories") tend to get dinged at auction. Our colleagues in the U.K. noticed something further: You can't even find a Ferrari with needs.
https://www.hagerty.com/media/market-trends/hagerty-insider/ferrari-owners-drive-their-cars/
7 REPLIES 7
kineticdg
Pit Crew

Now do Porsche 😉
Iso_Grifo
Advanced Driver

Some Ferraris get decent use until something goes wrong and then they sit. For a long time if the owner has a collection of working cars or doesn't have deep pockets. If you can't afford to or can't be bothered, you're just digging a bigger hole for later. That's the classic Ferrari trap. These people need to keep them driving and enjoying them.
enderby
Pit Crew

But sadly Hagerty has a hard limit of 5,000 miles a year in Califorina. So my trio of Ferraris can't be insured with them as I put 25,000 to 30,000 miles a year on them. The group collectively crossed 500,000 miles 2017 and is closing in on 600,000 miles now. All were track cars when I first bought them and now concours cars with many top awards. To Hagerty's credit they will offer track insurance on my 488 Challenge car (on line) where Opentrack.com will not insure any Ferrari. But I have not actually called Hagerty on that. I suspect if I do their underwriters will have some thing like the 5,000 mile limit for Califorina road cars and they will not insure any Ferraris on track,.
Darold
Hagerty Employee

Hey there @enderby ! Id love to chat with you a little more about the Ferraris to see if there is anything we might have missed on a previous quote! We try to be as flexible as possible with our mileage/usage. If you could shoot me a DM that would be great.

As for the track day insurance we offer through RLI, how much you drive the car off the track doesnt factor into the underwriting decisions there.  

enderby
Pit Crew

Darold, talk to your underwriters in California.  You likely don't know the restrictions on what your company sells.  Also if you knew something about Ferraris you would know a 488 Challenge car is a full race car and can't be licensed for the street.

ppointer
Intermediate Driver

We have an M Roadster that sees about 1500 miles per year. Why so low? It's no fun with the top up and I'm only 5'11' - or I was 20 years ago. Also, we are just north of Fort Lauderdale, so six months of the year it is too hot to drive with the top down. Third-world issues, I know.
RBlaine
Pit Crew

I could not help but notice that the 3 examples with highest mileage all come in F1. I know a handful of collectors that own manual Ferraris purely for investment purposes. They cannot drive stick.

Also there are small regional collector car auctions where it is not uncommon to find on the docket a Fiat era Ferrari (generally a 3x8) with bad paint, high mileage, no records, and clearly in need of a service. They also generally are RNM because the consignor wants more than a Ferrari dealer asks for a clean example with low mileage.