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oK ok ok, I know theres NO way to say what these cars are going to cost to insure but......

Any guesses? Craigy, or any of our Euro friends, what does your Elise cost to insure over there?

Ive never had an "exotic" car other than a DeLorean, and I had it insured thru Hagarty's for $400 a year ( show car insurance).

You think they're going to classify it as an exotic? How does the whole process work, ie, when do the insurance companies get information on cars?

When Lotus of Atlanta calls and says, come pick up your car. What will I do? Call my insurance company and hope they know what an elise is? Who informs them?

I would hate to have the car get here but I cant pick it up because I cant find anyone to write a policy for it on the spot.

Ideas, suggestions, thoughts?
 

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I have thought of the same questions myself.

I was planning on insuring through a exotic/classic car company too (I already have a policy on my fiat). I think exotic has to do w/ limited production numbers. At 2500 cars next year, that may not be limited enough, but Lotus as a car manufacture here in the US has been typically given "exotic" status in the sale of their Esprit.

I would suggest contacting the insurance company directly. People still buy elises here to add to their car collection (even though they cant drive them on the streets), and I cant imagine that they dont have some form of insurance on them. So if you called Hagarty, they might be able to give you a quote for the new elise based only on the value that you wish to insurance (as is the case with my fiat).

Let me know what they say.
 

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HI All,
I've always had my cars and bikes insured with USAA, They've always covered everything at a good rate. If they didn't have the particular car in their database (as with my Caterham). They just insured it for the value of the car, ie what I paid for it.

I wouldn't foresee any company NOT insuring the Elise. The one that might be problematic is for them to determine collision repair costs which would affect some of the coverage.

Chris
 

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OneFastMiata said:
oK ok ok, I know theres NO way to say what these cars are going to cost to insure but......

Any guesses? Craigy, or any of our Euro friends, what does your Elise cost to insure over there?

Ive never had an "exotic" car other than a DeLorean, and I had it insured thru Hagarty's for $400 a year ( show car insurance).

You think they're going to classify it as an exotic? How does the whole process work, ie, when do the insurance companies get information on cars?

When Lotus of Atlanta calls and says, come pick up your car. What will I do? Call my insurance company and hope they know what an elise is? Who informs them?

I would hate to have the car get here but I cant pick it up because I cant find anyone to write a policy for it on the spot.

Ideas, suggestions, thoughts?
Too much!

I'm 26 and don't have much history in terms of "no claims bonus" - because until a couple of years ago I was always a named driver on someone else's policy. If you have a full no claims (5 years) then it costs much less to insure this car, if you drive restricted mileage it costs less and if you are older and live in a crime-free place then it's all cheaper. All that's UK specific - I don't know about the US.

I live somewhere that's average for crime, but I'm young; so I get hammered on insurance.

For the record then; my insurance this year was £1460. That's about $2300.

Yes that's a lot.

Craigy
 

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2,500 models a year is low enough to be considered exotic. But, I don't think we'll see higher than normal rates for the Elise, epescially since the price is $40K and not $140,000 or $400,000.

Also, I don't think there will be too many insurance claims on the Elise, hopefully. So let's not ruin it people! :)

In relation to other sports car (Corvettes, Vipers, Cobras) and sports coupe (M3/5, AMGs, S4/6), 200 horse power isn't going to raise too many red flags with insurance companies. And I don't think they're going to be overanalytical of the Elise's power to weight ratio.

As for theft, there's not too much of a use parts black market on the Elise in the U.S. But, I'm not sure if they'll consider the Elise as a convertible.

So, I don't think the Elise will be more expensive than most other cars.
 

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I have been putting off calling my insurance agent until we have more info to work with. But when I was considering a kit car (Chuck Beck's Porsche Spyder replica) a couple of years ago, we had a discussion about insurance - pretty one-sided, he kept saying no kit cars, no kit cars, no kit cars. Seriously, he said no special problems as long as it's a regular production model from a legitimate manufacturer. The insurance cost generally is based primarily on the value of the car, but can be adjusted upwards based on risk factors (sports car, youthful driver, where you live, driving record, target for theft, etc.).

I am hoping to hang onto my Miata, but I'm wondering if there is a significant cost to having a third car on a two-driver policy? Hopefully not, since a 13-year-old car has little replacement value.
 
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