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Discussion Starter #1
According to the spec's posted on the car from Randy Chase ( as seen here ) the car will be insured as a "20". Can some insurance people chime in and state what this means. I am under the impressions that cars in the USA are rated from 1-20 based on some sort of rating system, 20 being the upper range of this ratting..

I know that when I sold my 2000 Mcoupe for an STi I went from a 17 rating to an 18 rating, my insurance with full coverage went up 100 to about 1700.00 anually. So a 20 is drastic in comparision.

Any more info on this system and insurance setup?

Adam P
 

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I found this.

http://www.excite.co.uk/insurance/special/the_group_rating_system

It seems to be a UK system. I'd guess it should only affect the collision part of the policy.

For example, on my Z4 I pay $618/year. Of that, $288 is for collision. Perhaps that will be higher for the Elise.

I'm no insurance guy, but I've asked my agent about the system. He says that State Farm bases rates on specific claim data for each car. The first couple of years of a new car are a guess. After, that, the rates are set based on the average they have to pay out for all similar cars on the road. Therefore, if the average person with a Volvo costs the company more than the average person with an Elise, the Volvo's rates will be higher. That sure sounds fair to me, and it's one of the reasons I've stayed with State Farm for the last 28 years. (That and the fact that they paid for the cow I accidently killed a couple of years ago. Long story...)
 

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The s2000 is a 22. and my insurance for full coverage is about $1650/year in SC. 27, single, primary car, no tickets/accidents.
 

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20

I know a little about insurance. The 20 is a symbol for the car.
A car's symbol is based on thevalue, likelyhood of it getting stolen, crashed, etc. (Even goes as far as likelyhood of a young, male driver driving and doing something stupid with it)

The higher the sysmbol, the higher both the comprehensive and collission will be $$$$.

If I am not exact I am close.
 

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Adam,

I want to compliment you on your exquisite taste in autos.

Ed

'04 WRX STi white/gold
'05 Elise (#21 at Downtown Jaguar/Lotus)
'94 Miata R
 

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If comparing to the UK, it seems like the elise is one of the most expensive cars to insure. It may not be so bad here...only time will tell.

I would highly recommend that if you are not using the car as an everyday driver that you get special insurance such as Hagerty or Grundy.
 
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