New And Need Some Help

[NYElise13]

Hey Everyone!

My name is Nick and I'm currently pursuing a Lotus. I had a built 2006 Evo (420whp) and was ran off the road by a drunk driver about a month ago. Thank God I'm ok, car is totaled though.

So after settling with insurance I'm looking for a new car that will not be my daily driver. What better than a Lotus!

I came across a 2005 Lotus Elise that I'm looking at pusrchasing. I want to figure how much the annual insurance will be before I get too serious. Found out tonight that Geico doesnt insure Lotus's.

Who do you all use that you can recommend I get a quote from? What approximately are you guys paying to insure it?

I'm 24, single, and like I said the car wouldn't be my daily driver. It would probably see less than 3k miles per year.

Thanks Lotus community!

Nick

[toedrag]

Welcome! Since you have a DD, try Hagerty or other specialty insurance company. Premium will likely be less than $500 per year. Good luck in the search.

[agirls]

It would be helpful if you said what state you are in. By your screen name I'm going to guess NY. Also, if you plan to use it less than 3k miles per year, you can look into specialty insurance. I'm not exactly sure what it is called but we have such a policy for a mopar car and I've read on here that a few folks have them on their Lotus as they must be garage queens. These policies also tend to be much cheaper.

*There you go, Toedrag hooked you up.

[Savet]

I have mine insured through State Farm. I'm 29 and pay about $1200(ish) a year. It's a regular policy, not a specialty policy as I would never be able to keep my mileage below the limit Geico wanted to impose.

[NYElise13]

Thanks guys. I appreciate the input, keep the respones coming.

Checked out Hagerty, and I will check out State Farm sometime later.

I do live in NY.

What other specialty insurance companies are common?

[FloridaRob]

Thumbs up to Hagerty! I have them for my 06 Elise. It is $689 per year with a 3500 mile limit per year. I've had Hagerty for many years for some other specialty cars I've owned. All I can say is, when or if you need to make a claim, they are hands down the best I've experienced. They pay exactly what the value of your car is that you insure it for if you end up in a situation like yourself where the car is totalled. My wife experienced this with our totalled 08 MINI Cooper S Clubman. They would only pay the bluebook value on it and not the actuall amount we had financed. I did check with State Farm and they said it was going to be about $1150 per year with unlimited mileage and about $800/year with limited 2500 miles/year. After expereiencing State Farm with our MINI, I had no hesitation as far as using Hagerty for the Lotus since in my case, it is financed.

[MikeLeuz]

The Elise is a 2nd car for me as well - got a great rate from Progressive.

[kestrel74]

If you get the Elise, You're gonna have to be a LOONY.

[Savet]

Originally Posted by FloridaRob

Thumbs up to Hagerty! I have them for my 06 Elise. It is $689 per year with a 3500 mile limit per year. I've had Hagerty for many years for some other specialty cars I've owned. All I can say is, when or if you need to make a claim, they are hands down the best I've experienced. They pay exactly what the value of your car is that you insure it for if you end up in a situation like yourself where the car is totalled. My wife experienced this with our totalled 08 MINI Cooper S Clubman. They would only pay the bluebook value on it and not the actuall amount we had financed. I did check with State Farm and they said it was going to be about $1150 per year with unlimited mileage and about $800/year with limited 2500 miles/year. After expereiencing State Farm with our MINI, I had no hesitation as far as using Hagerty for the Lotus since in my case, it is financed.

You have much more self-restraint than I do I can't seem to NOT drive mine