Finally found insurance

MikeAR303 · Mar 19, 2004

Just got a call from an insurance agent who my current insurance agent referred me to.

Them: "We'll insure your Elise, it will be $3300 every 6 months with a $1000 deductible"
Me: "The car will not be driven daily, and that quote is ridiculous even if it would be driven daily. I need you to work on another quote with either limited mileage or suspended coverage over the winter"
Them: "We can't do that"
*click*

This sucks

As much as I love the Elise, I wouldn't pay $6600/yr for insurance on any car. If I can't find someone willing to insure it for a reasonable amount, it looks like I might not be keeping my car

atyclb · Mar 19, 2004

shouldn't be much more than $1500/yr (for the first year anyway) with Allstate

until there is data available on incidence and costs of repairs, they go pretty much just by the purchase price of the vehicle.

atyclb · Mar 19, 2004

MikeAR303 said:
Just got a call from an insurance agent who my current insurance agent referred me to.

why do you need a second insurance agent?

MikeAR303 · Mar 19, 2004

atyclb said:
shouldn't be much more than $1500/yr (for the first year anyway) with Allstate

Did you get a quote from Allstate?

They're my current insurer, but my insurance agent referred me to another company because he claimed that Allstate doesn't/won't insure the Elise

Nathan111 · Mar 19, 2004

That quote does sound outrageous. Are you a really bad driver or 16 or something?

Thomasio · Mar 19, 2004

American Family (standard) quotes me $1,149 / 6 months.

Thomas

ace3 · Mar 19, 2004

MikeAR303 said:
Neither.

I'm 21 and a good driver.

might as well be 16. rates suck until you're 25.

MikeAR303 · Mar 19, 2004

ace3 said:
might as well be 16. rates suck until you're 25.

Definitely...

If I was 25 I could go with Hagerty or one of the other exotic/classic insurers.

ace3 · Mar 19, 2004

MikeAR303 said:
Definitely...

If I was 25 I could go with Hagerty or one of the other exotic/classic insurers.

yep. exactly what i'm doing.

rtking · Mar 19, 2004

I'm 21 and a good driver.

Argh... therein lies the rub. You're too young for the Collector Car Agencies (I think they require drivers to be 25) and you're still in the high risk category.

I hate to suggest this, but if it were me in your shoes, I'd try to see if my dad would "purchase" the car (with you as a co-purchaser?) and add it to his policy. It will probably be the cheapest route.

Bob

edit: D'OH!! Sorry... posted too late. That's what happens when work gets in the way of me posting my replies...

shay2nak · Mar 19, 2004

yep. exactly what i'm doing.

How much will Hagerty insure the Elise?

shay2nak · Mar 19, 2004

i will never pay $500-600 a month for auto insurance unless it's a Ferrari F40 or a McLaren F1

MikeAR303 · Mar 19, 2004

rtking said:
I hate to suggest this, but if it were me in your shoes, I'd try to see if my dad would "purchase" the car (with you as a co-purchaser?) and add it to his policy. It will probably be the cheapest route.

Yeah, that's definitely an option if I don't find anyone willing to insure me for a decent price... though I'd really like to avoid doing that.

Modern Wedgie · Mar 19, 2004

Hagarty/Grundy insure the car for some set value/$1K. It ends up costing much less than regular insurance and has only to do with the total value of the car.

Thankfully I will be 25 when my car arrives so I can afford insurance.

Paul MD · Mar 19, 2004

I've not spoken to them yet in this respect but Chubb insurance also have great policies that are based upon the purchase price of the car e.g. they offer full new replacement cover at MSRP.

Being 21 is never gonna be easy

so you're gonna have a hard time... but they might be worth a go. In truth I think you'e also WAYYYYYY ahead of the curve and will not get sensible answers for a couple of months yet.

In the UK 21 yearolds have trouble insuring this car at all let alone cheaply!

zvezdah1 · Mar 19, 2004

MW,
Do they offer comprehensive coverage for the car, ie collision, liability or do you have to get a separate liability policy?

Chris

Modern Wedgie · Mar 19, 2004

I dont remember the exact details, but I know the following:

a) has to be a pleasure vehicle
b) must own a second vehicle that is covered under an insurance policy, so I think that means as I driver you're insured, and that you indeed have another car as an everyday driver.
c) must be garaged
d) must be 25 y.o.

OneFastLotus · Mar 19, 2004

I got a quote from Grundy and it was around $600 a year IIRC. Comprehensive and Liability. They insure the FULL value and they dont depreciate. So, if I say the lotus is worth $50,000 I'll pay whatever premium they feel is fair for that amount. If I wreck the car the first day, or 10 years from now ,they'll still give me $50,000.

As MW says, you have to have another insurance policy on another "daily driver" car to show to them.

It has to be kept in a solid structure. In my case, a brick garage, and they were happy with that.

Grundy doesnt worry about how many miles you put on. Hagerty does..thats why Im not using Hagerty this time. I have in the past though, and was pleased.

Ridgemanron · Mar 19, 2004

ace3 said:
yep. exactly what i'm doing.

Grundy looks good.

hermanslotus · Mar 19, 2004

Hey One Fast,

Thanks for that info. It sounds like Grundy is the way to go. Now to find out if the write in the state of NJ.

Mitch

Finally found insurance

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