A&Q about Lotus
Q:
I am paying 860/yr with Amica. Third car. Non daily driver.
A:
Well, with all these quotes, we're missing some variables that are needed to make sure it's apples to apples such as deductable, and personal injury amounts, etc.
Just keep that in mind, but I"m going to check progressive and amica just to see.
Do they cover track events like DE's?
A:
I live in NJ and we are known to have the highest rates in the country...but I have NJ Manufacturers, which is one of the best insurance companies there is. I pay the same as I do for my other cars. Slightly higher for the collision since the car is worth more than the other two. Two drivers, both 50, clean records. It's our third car. We have all coverage, $500 deductable, no lawsuit threshold (that adds something like 15%) and I am paying $1260 a year before the discount for antilock brakes, and alarm system. So I think it comes to just under $100 a month.
No track coverage though.
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im 21, full coverage = $350 a month ($300,000 liabilities & 500/500 comp & coll)
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Scott, I'm in Houston as well. I'm paying about $650 a year with Farmers - 500/500/250 with a $1,000 deductible. It's listed as a 2nd/pleasure vehicle. That's also with a multi-vehicle and homeowner's discount. Also, the Farmer's policy does not exclude DE events.
A:
Originally Posted by Scott in Houston
I have a spotless record. I'm w/ state farm now.
I got a much better rate through Farmers in Houston (similar rate to that mentioned above). I've PM'd you with details and the name of my agent that already has wirtten a lotus policy.
A:
My S2000, as a 4,500mi/year pleasure vehicle, costs me about $60/mo.
Replacing it with a 2006 Elise with the exact same covereage would increase that to $80/mo.
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Originally Posted by delliott00
I pay around $880 for the Elise in TX. I'm with progressive and have been for years. Each year I shop around and, for me, nobody is cheaper. Most places I ask say they can't beat my rates/coverage.
Wait till you have a claim with Progressive: 'So, we can just replace the bent parts of the chassis and you (the dealer) can get the orange stuff that glues it back together, right?'
Next time you drop by Autostrada, ask Neil about that one.
I've got Progressive for some stuff, but I don't kid myself about the fact that I'm with them because they're the only company that will write paper on it.
A:
DE events were mandatory for my coverage too. Allstate policies cover DE, or at least ones written in VA and NY do...I suppose its possible that it could vary by state.
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Originally Posted by codymac
Wait till you have a claim with Progressive: 'So, we can just replace the bent parts of the chassis and you (the dealer) can get the orange stuff that glues it back together, right?'
Next time you drop by Autostrada, ask Neil about that one.
I've got Progressive for some stuff, but I don't kid myself about the fact that I'm with them because they're the only company that will write paper on it.
I actually had a lady hit my BMW 6 yrs ago and they were great to work with. The car ended up being totalled and I went in there determined to fight for a fair value, and their offering price was $2K more than my estimate, so I just grabbed the check and ran. They had to sue the other company to get it back, but it was simple for me. I honestly couldn't be happier with their service and especially the website.
Anyways, I have a stated replacement value policy on the Elise, its through a separate progressive agency. Probably time to drop the stated value since the replacement value of a similar used one is less and that will drop my rates. I had to talk to an underwriter to get it, but I've been such a profitable customer for them for so long that he agreed to write it to keep me from going elsewhere.
I used to have 4 cars and a motorcycle with them. 2 BMW M3s, a Porsche 911, and an Audi turbo. The initial renewal bill was like $3200 for all 4 cars. But I received a letter from them a few days later saying that they were starting a new program to reward their best customers. They said my driving record, credit rating, and claim history put me in the top 0% of their customers (I assume that meant <1%) and had adjusted $1400 off my bill. Never had that happen anywhere else, so I must be on some "keep this guy happy" list.
I'm not too concerned about it, I have a feeling most insurance companies wouldn't know what to do with an elise seeing that body shops just can't just order parts and fix it.
-Dave
A:
Originally Posted by Scott in Houston
I have a spotless record. This car is the most expensive I've ever had! $155/month with a $500 deductable! This is $60 more than my 911 Turbo and $65 more than the E60 M5! OMG
This with it being a non-primary car. I can't imagine what the under 25 crowd who use it as a daily driver are paying!
I should have checked this first before buying the car. lol
I ended up raising my deductable to $1000 and it brough it down to $116.
Maybe I should call Geico? hehe I'm w/ state farm now.
I was paying over $300 when I was 21 when I bought my M3. Almost half the price of the damn payment. I didn't have anything except 2 or 3 speeding tickets too.
A:
We did some "fleet management" earlier this year and got rid of an '05 350Z and an '05 Civic Hybrid. We got an Elise and an '06 MINI Cooper JCW.
WTF #1: The MINI was approx $38K (yes, it has every option you can choose except one, Nav). The Civic was approx $21K. They both have the same drivers and same usage. The MINI is cheaper to insure by $100/year.
WTF #2: The Elise was cheaper to insure than the 350Z (which was a roadster). The 350Z roadster has bumpers and side-impact airbags. Again, coverages, deductibles and usage was the same for both, pleasure vehicle for 4000 mi/year.
Ultimate WTF #3: I realized quickly that the mileage I was stating per year for the Elise was rapidly approaching after a mere few months of ownership. I call and change it to 8000 miles/year. I change NOTHING else. My insurance goes DOWN by $50/year! (I'm wondering if I could increase the mileage to a point that insurance would be free.)
So, this doens't help you at all Scott, but I feel better for having ranted. Maybe the point is that you should shop it around.
Also, I know of at least one person who has their Elise insured through Hagerty's (collector car type insurance). This might work for you depending on your intended usages.
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Originally Posted by FlyLo
State Farm covers track events.
I find that hard to believe from what i have heard from the companies i have talked to...............but if you believe you are covered(they take your premiums, but when its time to pay out, thats another story altogether).............. I would be worried if you ever do need to make a claim ina track related incident. IN AZ(at least) I am absolutly unable to attain any coverage for any on track usage.
just letting you know what i have found, and one of the reasons I am parting with my Lotus.
A:
Originally Posted by delliott00
I actually had a lady hit my BMW 6 yrs ago and they were great to work with.
That's the opposite of mine own experience when a driver with Progressive changed lanes into me. They refused to pay and I let Allstate subrogate.
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Originally Posted by fishguyAZ
I find that hard to believe from what i have heard from the companies i have talked to
State Farm says they will cover track days that are not timed and don't involve racing.
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I feel your pain. My wife picked one up last Saturday...also in Texas and she was quoted $113/month for 100/300 and 1k deductible. Also State Farm. I have been with SF for 16 years. I shopped insurance in the mid 90s and nobody could touch SF rates so I stayed with them. I now have a guaranteed renewal policy with SF (they no longer do this- had to have 10 years no accidents to get it) so I am not really inclined to move insurance. Her 02 IS300 is $500/6 months and my 02 M5 is $530...so the Elise as a 3rd car is a lot more (especially for a car that I CAN'T drive). We will shop insurance soon as we are building a new house.
I think the reason the insurance on the Elise is so expensive is becuase it is so easy to total it. Even a little hit can tweak the frame. If she ever gets into a wreck with it it will get a good looking over and I will fight to get it totalled.
Also...DEs are covered by EVERY insurance agency in the state of Texas. They have to....the state writes the language used in the policy that every insurance company has to use.
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Report from Los Angeles:
I pay $1,200 a year for my Exige with State Farm ($1,000 deductible, $500K liability, annual mileage limit of 7,500, no tickets of record, no accidents, multi-car discount, etc.), whereas I was paying $950 a year through Hagerty (Exotic coverage, 5,000 mileage limit and driven for "public interest" purposes). Paying the extra $250 a year to drive my car without limitations (other than mileage) was a no brainer.
As a reference, I pay $1,100 a year for my A6 and Allroad as well ($2,200 combined), so the Lotus looks reasonable in comparison.
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+1 Green Ghost
AIS thru CostCo $344/6 mo second vehicle
A:
Originally Posted by Blonde1
We did some "fleet management" earlier this year and got rid of an '05 350Z and an '05 Civic Hybrid. We got an Elise and an '06 MINI Cooper JCW.
WTF #1: The MINI was approx $38K (yes, it has every option you can choose except one, Nav). The Civic was approx $21K. They both have the same drivers and same usage. The MINI is cheaper to insure by $100/year.
WTF #2: The Elise was cheaper to insure than the 350Z (which was a roadster). The 350Z roadster has bumpers and side-impact airbags. Again, coverages, deductibles and usage was the same for both, pleasure vehicle for 4000 mi/year.
Ultimate WTF #3: I realized quickly that the mileage I was stating per year for the Elise was rapidly approaching after a mere few months of ownership. I call and change it to 8000 miles/year. I change NOTHING else. My insurance goes DOWN by $50/year! (I'm wondering if I could increase the mileage to a point that insurance would be free.)
So, this doens't help you at all Scott, but I feel better for having ranted. Maybe the point is that you should shop it around.
Also, I know of at least one person who has their Elise insured through Hagerty's (collector car type insurance). This might work for you depending on your intended usages.
Wow. Yeah, I'm starting to realize that the 'science' behind it is very odd, and like another poster, im going to shop insurance when we move as well. I think SF may just rate the Elise higher than other agencies.
A:
Originally Posted by fishguyAZ
I find that hard to believe from what i have heard from the companies i have talked to...............but if you believe you are covered(they take your premiums, but when its time to pay out, thats another story altogether).............. I would be worried if you ever do need to make a claim ina track related incident. IN AZ(at least) I am absolutly unable to attain any coverage for any on track usage.
just letting you know what i have found, and one of the reasons I am parting with my Lotus.
I called around.
State Farm said yes, after confirming with Texas Headquarters. I also have guaranteed renewal through them.
Progressive said yes.
USAA said no.