Insurance Options for US Market

[EyeFour Eemeerah!]

Yeah Baltimore is a high risk city. Our rates are very high and my teenage daughter doesn’t help

I was going to say that Maryland was high in general. Not to the degree of New Jersey, but Baltimore I’m certain is through the roof! As far as dependent on the cylinders, no. I know in Germany your fees/registration costs are dependent on the displacement of the vehicle, hence smaller high compression engines to circumvent their on going fees.

 

[BuckheadBuilder]

A question for those in the U.S. who are soon (starting November) to take delivery of their First Edition Emiras. I am researching insurance companies and soliciting policies through an independent agency with many companies available to them. The agent wrote a quote for me, to include homeowner, umbrella and all vehicles in the home with the future addition of an Emira. She had noted that the insurance company we are going with will NOT insure Lotus, and that it would have to be a stand alone policy. She had list numerous companies and their inclusivity or lack there of of Lotus.
I want to solicit from the U.S. members here, what their experience has been so far, and what insurance companies have been receptive to Lotus. Perhaps it’s an issue of not being certified for release to the US market yet? Just not sure why some companies will insure while others will not. Thanks in advance for any input!

I have used Cincinnati Insurance for the last 10 years or so and have had good results out of them. You would want the Capstone policy to get the best rates to include houses, other cars, etc. I only have agreed value policies with them and have never had any issues with them until the last renewal regarding the agreed value which took a week or so to resolve. Cincinnati is definitely less than Hagarty, but I would use Hagarty in a heartbeat if Cincinnati wasn't an option. Typically, Hagarty doesn't want to insure the newer cars as well. I actually pay increased premiums because both my boys aged 17 & 20 are approved to drive the cars and Cincinnati is still less than Hagarty. I could not find any other carrier including Hagarty that would let my boys drive the cars until they were at least 25-28 years old. Both of these cars are rated as non-everyday use cars, typically they want you to drive less than 4,000 miles per year which isn't an issue for me.

2021 Lotus Evora GT Carbon Pack- agreed value - $115,000 / $2,160 annual premium
2007 Ferrari F430 Spider - agreed value - $165,000 / $2,654 annual premium

 

[VL3X]

I talked to State Farm in California a year ago they stated that it would be similar to an Evora GT for insurance. They would have no problem insuring it but the 6 month premium was almost $2K USD. Yeah I'm aware that means nothing without context just know it seemed pretty high.

I bundled my Evora GT onto my existing State Farm policy. It's not too bad. I may shop around at some point, but for now I'm comfortable.

These insurance questions threads are kinda useless since everyone's situation is different. Different driving records, credit scrore, age, location, history, etc.. Just call around and get quotes. If they don't have an Emira yet, give them any Evora GT vin from an online listing for a rough idea of premium costs.

 

[KCMO68_510]

Did you have any other downsides to dealing with Hagerty? Genuinely interested in switching over to them if these rates are accurate for me.

So I used to have a stated value policy with Hagerty and had no issues with them (I actually kept the roadside which you can do separate. $70 a year with nearly unlimited flat bed tows... kinda crazy).

But then I changed and got a stated value policy with Grundy (https://www.grundy.com/). They obviously don't advertise anywhere near as much as Hagerty, but are in the same business and have much lower rates than Hagerty because you don't pay for all the marketing.

Worth comparing their rates.

 

[EyeFour Eemeerah!]

These insurance questions threads are kinda useless since everyone's situation is different. Different driving records, credit scrore, age, location, history, etc.. Just call around and get quotes. If they don't have an Emira yet, give them any Evora GT vin from an online listing for a rough idea of premium costs.

Actually, I’m finding the responses useful. As a potential Lotus purchaser, wanting to bundle the Emira into a holistic plan myself, only to find out that some insurers won’t even cover a Lotus, I need to know my options. Some companies are even VIN specific within a given manufacturer, so simply entering the VIN of another one of their models is not representative of what you’re looking at. Specs and features change, and entering the VIN of a Evora GT will use that car’s risk pool and historical record. There is no historical data for the Emira. There clearly is is a broad range of policy options and pricing available out there, and an apples to apples comparison demonstrates that.

 

[Concept24]

Back some months ago, my agent for Mercury Insurance (under which we insure our house, also) quoted me $208/6 months for a 2021 Evora GT, since the Emira was not in their "books".
Other car quotes: (6 months)
2023 Toyota Supra: $263
2017 Acura NSX: $372
2021 Lexus LC500h: $369

 

[MajHall04]

Back some months ago, my agent for Mercury Insurance (under which we insure our house, also) quoted me $208/6 months for a 2021 Evora GT, since the Emira was not in their "books".
Other car quotes: (6 months)
2023 Toyota Supra: $263
2017 Acura NSX: $372
2021 Lexus LC500h: $36

Back some months ago, my agent for Mercury Insurance (under which we insure our house, also) quoted me $208/6 months for a 2021 Evora GT, since the Emira was not in their "books".
Other car quotes: (6 months)
2023 Toyota Supra: $263
2017 Acura NSX: $372
2021 Lexus LC500h: $369

Which State?

 

[MajHall04]

I got a quote for an Evora GT today from my insurance Erie. $2097/year Baltimore . I guess it is what it is!

 

[Concept24]

Which State?

San Diego, CA

 

[Maurice R]

San Diego, CA

Wow that’s cheap. What kind of coverage if I may ask

 

[Concept24]

Wow that’s cheap. What kind of coverage if I may ask

Adding more info:
Full coverage
3000 miles per year
Multicar and home discount
Safe driver
Professional
Home zip code

 

[2Lotus]

I was getting insurance from Hagerty today for another car and thought I'd try getting a quote for the Emira. It recognized the Emira. For 2500 miles per year, $500 deductible and a $90,000 value = $1,395 a year.

 

[EspritGuy]

I was getting insurance from Hagerty today for another car and thought I'd try getting a quote for the Emira. It recognized the Emira. For 2500 miles per year, $500 deductible and a $90,000 value = $1,395 a year.

Useful. Was the $90k an 'agreed replacement value?'
They must have started with the $93k FE v1 sticker.
Depreciation underway?

 

[2Lotus]

Useful. Was the $90k an 'agreed replacement value?'
They must have started with the $93k FE v1 sticker.
Depreciation underway?

I put that value in! If I went ahead and added it to my policy, which I didn't, it may have questioned the value.

 

[981KMAN]

Chubb quoted $840/year. $500 deductible, $500K Liability, agreed value at $100k. No mileage limit. (yet I have 4 other cars with them.....).
My Porsches are in the same $$ range.....

 

[Cachaco131]

Chubb quoted $840/year. $500 deductible, $500K Liability, agreed value at $100k. No mileage limit. (yet I have 4 other cars with them.....).
My Porsches are in the same $$ range.....

That's so reasonable. Geico is ripping me off

 

[MoBoost]

My quote from Hagerty, where I already have two cars insured, was $273/month! Yow.

 

[benjh1028]

That's crazy. What kind of insurance are you getting quoted? Don't do a standard vehicle policy, they will nail you on anything that's unusual. You need classic car insurance, almost all the providers will allow you to do a new car if it is unusual or exotic.

Quote from Hagarty's. 2,500 - miles/yr. $95k replacement

 

[Porter]

Quote from Hagarty's. 2,500 - miles/yr. $95k replacement

Try Grundy. Here's a "high" quote I did with them for $105k replacement and with Virginia surcharges. Actual would likely be less.

 

[Concept24]

It looks like Grundy doesn't list max mileage per year.