A&Q about Lotus
Q:
Originally Posted by spf4000
Progressive does a bait and switch, so watch out. They quote you one price online, then when you apply, they send you a totally different (higher) rate.
Progressive does not bait-and-switch. That is against the law - at least in Florida. Generally, the problem ends up being something that was either not correct in the application (like a VIN character) or that something was not disclosed (like a violation or an accident) was discovered in the underwriting process. This results in an uprate.
A:
Originally Posted by rush
WTF!!! I have USAA and they swear they can't lower my premiums. Elise is my weekend car with "under 10K" per year and they charge me $200 a month for her. I have no accidents and no tickets (knock on wood). The only thing going against me is that i'm 24.
Does anyone know if throwing a turbo in my car will void USAA coverage? I saw another guy on ET who got dropped from USAA for just asking about coverage for tracking his car!
I pay well over $200/month with a 1k deductible. It's my 3rd car in a locked/insulated garage and I only put 2500 miles/year on it. I also have a clean record and am notorious for having "high risk" cars on my record. I've paid USAA well over $10,000.00 since I've been with them and they still don't give me a break. Their customer service and rates are unsurpassed so that's why I stick with them. Hagerty wanted $1800/yr with less coverage and usage. Geico wanted $3600 for 6 months. Progressive wanted $3300 for 6 months. I've found the Elise is very similiar to insuring a motorcycle (for a new rider).
Don't go by what other people put, it varies HEAVILY on region and age. I also think people like to brag about their low rates.
A:
I pay about $3000/yr with Geico for the Elise and a Honda. I bought a house this spring so I looked into Allstate (wouldn't cover the Elise) and State Farm (no savings vs. Geico). One benefit of Geico is if you start with them when the car is new they give you "mechanical breakdown insurance" for up to 10 yrs or 100,000 miles. It costs hardly anything (maybe $50-100/yr?) but it's kind of like an extended warranty. The State Farm guy told me Geico is the only company that offers it and it was one of the reasons I stayed with Geico this year. I almost can't believe they gave me 10 year/100,000 mile mechanical breakdown coverage on a European sports car - are they high??
I'd be interested to hear if anyone has Geico and has had a claim with the mechanical breakdown coverage. I never had to use it with the Honda during the time it was covered.....
A:
Originally Posted by Bane
I also think people like to brag about their low rates.
I do this when people quote their low rates. Nothing could be more irrelevant than your yearly premium. What matters is what happens when you make a claim -- is your cut-rate company going to pay the labor rates at a proper body shop?
Most will only pay "prevailing wages" which is the rate the back alley shop charges to bondo together the Camrys that are its core business.
Seems like the Elise is lucky since adjusters are clueless about how to low-ball exotic repairs.
A:
Elise is with Hagerty ~900 USD yearly
Yaris is with American Family ~700 USD yearly
A:
State Farm paid out 11k for my HPDE track mishap last month.
I just paid the premium for the next six months so I have no idea how much it will go up as a result of this claim.
State Farm has been berry berry good to Rob LaFreniere.
Originally Posted by gameson
The most important question for insurance is (if you track your car) whether the insurance will cover your loss during tracking or autocrossing. Most insurance will cover regular everyday use but turn the other cheek when someone claims loss during HPDE
Can anyone answer to that? Has anyone actually claim loss during track event and get their money from insurance?
A:
I pay 600/year with American Family for the elise. My gwagon is 1200 a year.
They just paid out a very large claim on the elise no questions asked.
A:
$1500/year from Geico, full coverage with $1000 deductible. Elise is my only car; previously I had no car and hence no insurance so most other companies wouldn't insure me at any kind of sane rate. I'm in Seattle which may be relevant to bainbridgelotus.
No claims yet so I can't speak to the value of the coverage. If you're just looking for the legally mandatory liability coverage Geico is a pretty good option.
A:
Well my questions were answered, thanks. State Farm was the best road, especially when their also covering my other vehicles and my place of residence. The Lotus was about $100/month for essentially unlimited driving.
A:
Allstate $873.85 and this includes full replacement value if the car is totalled. This means in case of crash they buy me a new one essentially.
A:
Geico - $440 every six months with 300/500 and $500 deductable on my V8 Esprit. I called about the Exige S I ordered and they quoted me $460 every six months for the same coverage.
I wonder if the Exige S quote is correct becuase I am sure only the NA Exige is in there database.
A:
State Farm,
I have all of my insurance lines with them, home owners, umbrella, two cars.
The Elise has $1000 deductable, I pay about $1100/YR it. I have had a few tickets in the day, but I do qualify for a couple $100 in "discounts."
State Farm has always paid me very quickly and fairly.... so far.
A:
I'm with Allstate and paying $460/6months as 4th car for $250/500K coverage with a $1M umbrella in NYC. This is by far the cheapest car I have ever insured. I was shocked at the quote!!!
A:
I'm 26 and have tons of tickets. I pay $175/month with Geico.
A:
For those who may not know, Allstate is a horrible company - if you happen to get injured in a car accident...you basically HAVE to sue them. They have their own doctors "examine" you and basically report that you're in ship shape even if you're messed up. It's never happened to me but I have had to deal with this issue time and time again in my work. I'd never recommend them to anyone...it's worth paying a bit more for a different company that won't try to penny pinch and screw you.
A:
Originally Posted by Icedog_16
Progressive does not bait-and-switch. That is against the law - at least in Florida. Generally, the problem ends up being something that was either not correct in the application (like a VIN character) or that something was not disclosed (like a violation or an accident) was discovered in the underwriting process. This results in an uprate.
The price the quote online is the prefered rate, which means you have to have a spotless record to get it. If not then you get their non-preferred rate. They quoted me $811 online, when I called it turned into $2500 for one ticket and one accident at 0% fault.
A:
This discussion is a good example of how coverage varies from state to state - I was told Allstate wouldn't insure a Lotus, and I was told State Farm doesn't provide HPDE coverage (in fact they demanded to know where I'd heard otherwise!)
A:
Originally Posted by e-Lise
This discussion is a good example of how coverage varies from state to state - I was told Allstate wouldn't insure a Lotus
Allstate had no problem with my Lotus in Maryland last July. A brief call to give my agent the VIN was all it took.
A:
Originally Posted by buzzy
The price the quote online is the prefered rate, which means you have to have a spotless record to get it. If not then you get their non-preferred rate. They quoted me $811 online, when I called it turned into $2500 for one ticket and one accident at 0% fault.
Actually, they don't have preferred/non-preferred rates. They have multiple tiers. Things like tickets and even not-at-fault accidents can make a significant difference as you found out. But this confirms what I said - the initial quote did not take into account your ticket or not-at-fault accident and perhaps other underwriting information that is used in determining your rate.
A:
I have everything with Liberty Mutual... the Elise is about $750/yr. I talked to my agent and made sure the HPDE is covered (he had to research it with the companies actuarials first). I'm 52 with clean record.