ARRG!! INSURANCE ON A LOTUS ESPRIT??? help! | FerrariChat
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ARRG!! INSURANCE ON A LOTUS ESPRIT??? help!

Discussion in 'British' started by thecarreaper, May 1, 2006.

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  1. thecarreaper

    thecarreaper F1 World Champ
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    Sep 30, 2003
    18,077
    Savannah
    #1 thecarreaper, May 1, 2006
    i bought a 84 911 Porsche a few weeks ago. Hagerty was great to deal with as usual. ( i sold the Lamborghini and added the 911 to the exsisting policy) .


    i am also purchasing my friends 1989 Lotus Esprit. Hagerty will not insure it as its newer than thier 1986 / 20 year cut off. they will only write a policy for it with a 3500 mile limit, which i think is too low, even for me. :mad:

    State Farm seems be insanely high on limited use collector policies. i have been with State Farm since i was 15, i am now 35! my daily driver is insured with State Farm and still has full coverage , even though its paid for.

    ( edit, they quoted $1200 for the Porsche, i have not called them on the Lotus, but i am sure it will be worse)

    Sneed will not insure a Lotus.


    my local Chubb contact agent is closed at 5pm.


    anyone have any suggestions???


    ( i have a clean record too!)


    :mad: !
     
  2. richard_wallace

    richard_wallace Formula 3

    Feb 6, 2004
    1,957
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    Richard Wallace
    #2 richard_wallace, May 1, 2006
    I think you should look at a few others Chubb, Farmers, etc. Get a good broker - for that old of car(s) with their value - I would be hard pressed to pay more than 600 per car. I pay 800 per year (with replacement value) on the Gallardo - at 175K...

    Bump your deductable up to whatever is bearable - that is the biggest key on lowering your premium... For example I have a 5000 (or something like that) dedcutible on the Gallardo - since I would not claim anything less - due to the rates going up (which they would) if I made a claim for anything less than 5K. If I were at 250 deductable - my insurance would probably be 3000 per year.

    Also do a search on insurance - there was a few posts over the past few months which people sounded in on which company is best.

    I would get a broker - and have him / her find the best deal for you - they have the network of all the providers - in one quick key stroke they can find the best deal from all the insurance companies...

    Rich
     
  3. EspritSE

    EspritSE Formula Junior

    Dec 1, 2003
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    Craig
    #3 EspritSE, May 1, 2006
    My 90SE is actually less per month, with the same coverage as my 94 Audi S4.
     
  4. Meister

    Meister F1 Veteran
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    Apr 27, 2001
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    The Meister
    #4 Meister, May 1, 2006
    I've got a freind who is a farmers agent. He doesn't really do anything special for me and granted I only carry full coverage for 6 months, but both the Esprit and the 308 would be around $600/year each if I did 12 months.

    Check them out.
     
  5. GrigioGuy

    GrigioGuy Splenda Daddy
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    Nov 26, 2001
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    #5 GrigioGuy, May 1, 2006
    I have a regular insurance policy through State Farm on the 328, it costs ~700/yr with a $50 deductable. You might want to chat with them again
     
  6. thecarreaper

    thecarreaper F1 World Champ
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    #6 thecarreaper, May 1, 2006
    thanks for the replies. i found local Farmers, Chubb and Allstate agents. i will call them when everything opens tomorrow. i dont understand why State Farm wants so much, and i have been with them for 20 years and have a clean record. i dont mind carrying a high deductable, as i have the cash for small things if they happen.
     
  7. thecarreaper

    thecarreaper F1 World Champ
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    #7 thecarreaper, May 1, 2006

    pm sent
     
  8. davem

    davem F1 World Champ
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    #8 davem, May 1, 2006
    I predict you will sell it before you drive 3500 miles in it!
     
  9. Dino Martini

    Dino Martini F1 Rookie

    Dec 21, 2004
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    #9 Dino Martini, May 1, 2006
    Geico? lol.
     
  10. thecarreaper

    thecarreaper F1 World Champ
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    #10 thecarreaper, May 2, 2006

    not funny. i tried them and they said no too. :(
     
  11. L8Braker

    L8Braker Formula 3

    Nov 10, 2003
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    Jeremy Stafford
    #11 L8Braker, May 3, 2006
    Mine is through NC Farm Bureau for $1100 a year full coverage. Also it is a 1999 V8.
     
  12. writerguy

    writerguy F1 Veteran

    Sep 30, 2003
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    #12 writerguy, May 3, 2006

    It is just too easy for a quick joke... NC Farm Bureau??? Thought they only insured Tracktors (lambos)
     
  13. parkerfe

    parkerfe F1 World Champ

    Sep 4, 2001
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    #13 parkerfe, May 3, 2006
    I have my BB512i insured with a regular Allstate policy with $300k liability and UM and a $3 million umbrella for $678 per year...in fact the insurance on my Boxer is the least out of all my cars...As an attorney in the PI business, be sure you get at least $1 million in UM. There are so many people out there with no insurance and most people that do have insurance have minimum coverages. So, without a good UM policy if one of those uninsured or underinsured drivers seriously injure or kill you, what will you or your family get without a lot of UM coverage...
     
  14. L8Braker

    L8Braker Formula 3

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    #14 L8Braker, May 3, 2006
    Can't help the name.......they are one of my Wife's clients. Farm Bureau is in plenty of states and the name is just that........a name.
     
  15. Enzo

    Enzo F1 Rookie

    Feb 14, 2002
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    Pat Pasqualini
    #15 Enzo, May 3, 2006
    I can look when I get home to see who I'm with. Mine is a 5000 miles policy which they never ask for miles and it cost me 270 for the year.
     

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