Yikes! Replacing front clam shell, need home loan

[Keeper]

The logic is what I would have assumed, but I still doubt it will matter much. If the Ins. Co.'s really have their finger on things then why does it cost roughly the same amount of money to insure my $45,000 Elise as it does my $14,000 MR2. I don't think a few Elises are going to register much compared to the 1000's of wrecked Camry's.

If you put repeated claims in for your own damage your rates go up and they get their money that way. If it's someone elses fault, your ins. co. doesn't pay. I think those with perfect driving records and higher dedcutbiles won't notice anything significant.

We'll see.

[Terminus]

Originally Posted by Keeper

I don't think a few Elises are going to register much compared to the 1000's of wrecked Camry's.

You are comparing the wrong #'s. The important part looks something like this for EACH model insured

# accidents * cost per accident
--------------------------------
# of this model insured

So, pulling numbers out of the air...

Thus, 2 thousand camrys out of 200 thousand insured * $5k per repair works out to $50 per car insured in repairs.

10 Lotus out of 200 insured * $10k per repair is $500 per car insured, 10 times the cost to insure the car.

[Keeper]

Originally Posted by Terminus

You are comparing the wrong #'s. The important part looks something like this for EACH model insured

# accidents * cost per accident
--------------------------------
# of this model insured

So, pulling numbers out of the air...

Thus, 2 thousand camrys out of 200 thousand insured * $5k per repair works out to $50 per car insured in repairs.

10 Lotus out of 200 insured * $10k per repair is $500 per car insured, 10 times the cost to insure the car.

No, that's still in line with what I'm thinking. Except I think the numbers won't be that dramatic. It don't think it'll be 2000 Camry's, but more like 20,000. And not 200 Elises but over 2000 insured. A lot more Camry's will be totaled than Elise, so it'll be much more than $5k per car to repair. Etc.

The last fender-bender on my Spyder was $8,000 and the damage was minor. All cars are expensive to fix. Paint, labor, etc. are essentially fixed. The only major difference is the cost of the part. Bumper damage on a Camry vs "bumper" damage on an Elise and the part differential is a couple grand. smash the whole front end of the camry and the part differential is nil.

Anyway, I haven't heard anything yet that would make me believe that our insurance would ever increase that much.

[Icedog_16]

Originally Posted by Terminus

You are comparing the wrong #'s. The important part looks something like this for EACH model insured

# accidents * cost per accident
--------------------------------
# of this model insured

So, pulling numbers out of the air...

Thus, 2 thousand camrys out of 200 thousand insured * $5k per repair works out to $50 per car insured in repairs.

10 Lotus out of 200 insured * $10k per repair is $500 per car insured, 10 times the cost to insure the car.

Actually, I think the problem with this is that it assumes that percentagewise more Elises will be involved in accidents. However, if you assume that the percentage of Camrys in accidents would be the same as the Elise, it becomes a wash on a $ per car basis. 10000 Camrys (5% of 200K) * $5K per repair would be $250, whereas 10 Elises (5% of 200) * $10K per repair would be $500. Obviously, the premium charged for an Elise is higher (Collector Auto policies excluded) than that for a Camry - probably twice as much. Therefore, the expected loss would be in line with the premium collected. Generally, I would say that the Camry would actually be involved in a higher percentage of accidents as they are more within the means of youthful drivers than would be an Elise. That is why a Corvette is cheaper to insure than a Mustang GT.

[SilverArsenal]

"SilverArsenal, are you a "football" fan? If so, you have some recent cause for celebration (even if it was a shoot out)

btw, what are scuff guards?"

Yep, I'm a football/soccer fan. Arsenal is my team, that was the ugliest FA Cup Final I have ever witnessed, but a win's a win, good enough for me. And it's especially nice to see Man United lose a tough game. I still hate f'ing Chelsea though. On another bright note, Norwich got relegated so maybe when I wear something that says Lotus on it people will stop asking me if I am a Norwich fan (for those unaware Lotus is the sponser of the British soccer team Norwich and Lotus logos are plastered all over everything they wear.)

Scuff guards: There are pictures somewhere on elisetalk, but you can get pieces of hard plastic (and the guys at Advanced Collision were even talking of experimenting with aluminum) that are attached underneath the front of the car for bottom-outs, etc. I know so many people who have scraped the front end and it just saves the fiberglass.

"I don't mean to hijack the thread, but are you saying that you had already wrecked your Elise once and had a clam replaced before you totalled it? What happened the first time?"

Valet at Red Rock on Sunset Blvd. bumped it in the parking lot. It was a tiny little nick but still cracked the clam enough to warrant getting fixed, well at least at the time. Then I drove over a cliff, kind of negating the effects of fixing the front end. This car is a learning experience. No Valet! No Parallel Parking! No Potholes! No water spots and especially no loose gravel! Reminder to those in So. Cal. Stay off Decker Canyon!