Insurance Options for US Market

[EyeFour Eemeerah!]

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!

 

[kitkat]

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.

 

[EyeFour Eemeerah!]

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.

In context, that’s half of my insurance for a full year of 4 cars with full coverage and glass!!! 🥹

 

[kitkat]

In context, that’s half of my insurance for a full year of 4 cars with full coverage and glass!!! 🥹

Yeah this was considerably more than the insurance on my M4 Comp.

 

[Aero]

I havent done a definite quote yet since I don't have an Emira US spec VIN# for the quote. I would suggest trying Hagerty, ANPAC (who I have on my other 'fun' cars) that do agreed value policies.
When I was considering an Evora a few years ago the rate was reasonable when I checked. You usually cant drive it everyday to qualify but the rates are good.
I imagine if I tried it on Geico (etc) it would be ridiculous. I dont intend to use as an everyday car anyway.

 

[kitkat]

I havent done a definite quote yet since I don't have an Emira US spec VIN# for the quote. I would suggest trying Hagerty, ANPAC (who I have on my other 'fun' cars) that do agreed value policies.
When I was considering an Evora a few years ago the rate was reasonable when I checked. You usually cant drive it everyday to qualify but the rates are good.
I imagine if I tried it on Geico (etc) it would be ridiculous. I dont intend to use as an everyday car anyway.

Hagerty actually has the Emira in their system right now I just checked with agreed value of $96K.

This is pretty reasonable.

 

[Aero]

Hagerty actually has the Emira in their system right now I just checked with agreed value of $96K.

This is pretty reasonable.

View attachment 29786

Mine was $2070/yr at Hagerty using standard coverages etc. Guess living in the sticks in AL has benefits. Still seems high to me for what I have in total agreed coverage on my 911 and 240z elsewhere. I had hagerty before and I left them when they raised rates years ago. Viable alternative over just adding to normal insurance though.

 

[kitkat]

Mine was $2070/yr at Hagerty using standard coverages etc. Guess living in the sticks in AL has benefits. Still seems high to me for what I have in total agreed coverage on my 911 and 240z elsewhere. I had hagerty before and I left them when they raised rates years ago. Viable alternative over just adding to normal insurance though.

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

 

[EZcheezy]

I talked to progressive about insurance for my 2020 bmw m240i and 2024 lotus emira with the below coverage on both cars. the type of coverage is really important dont forget. i was on the phone for a long while cuz they didnt know how to handle the Lotus

100k/300k - body injury
100k/300k - uninsured body
50k & 250 deductible - uninsured property
2.5k - personal injury projection
500 deductible - comprehensive
500 deductible - collision
5k - custom parts

it came out to $2163 for the lotus and $1600 for the bmw per 6 months

i would obviously be getting screwed so im definitely not taking it and ill keep looking. also i need to decrease coverage tbh

 

[Aero]

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

I had them on my NSX until I sold it and they seemed reasonable at time. Werent supposed to drive it to work regularly and not everyday usage and had a 3500 mile yearly limit I think. I never had a claim.
When I bought another 'fun' car years ago they were higher than other similar companies (by a lot) and they were stricter than before on use too. Maybe they've changed that some.
I have ANPAC chrome (they have a modern exotic category) now and they seem to have reasonable rates. (911 and 240z) and less strict use. Your location may vary though.
I plan to check Grundy, others too to make sure rate is still competitive if the Emira ever arrives.
I have Geico on other normal cars. Did an Emira quote there for kicks. (they working on it, since Emira not in database yet)

 

[Maurice R]

I have cayman GTS and Evora GT with Hagerty at full coverage and agreed value $2,300
Unlimited mileage
If anyone wants a contact please dm me
Edit just FYI I was with American Modern previously. Haggerty quoted me $1000 less with much better coverage

 

[DaaS]

Progressive should be able insure it too. They had a hard time finding Evora in their system, but eventually they were able to add it.

 

[Maurice R]

My opinion and only an opinion
Go with an insurance company that specializes in high $ sports and exotic cars

 

[DerTheDer]

Ill let you know if my Emira ever gets here. My two sports cars I pay around 120 a month. Ferrari California and Lotus Elise. Although I do have a spotless driving record.

 

[motorpool]

For context, I have many vehicles, several riders, and homeowners with same company for 30 years. Excellent credit, don't live in high crime area, no tickets, etc. I just added a Z06 and it was $75/mo and just checked Emira was $70/mo. Now that could change between now and when the cars arrive but that is what is showing currently.

 

[EyeFour Eemeerah!]

For context, I have many vehicles, several riders, and homeowners with same company for 30 years. Excellent credit, don't live in high crime area, no tickets, etc. I just added a Z06 and it was $75/mo and just checked Emira was $70/mo. Now that could change between now and when the cars arrive but that is what is showing currently.

This I’m certain is also dependent on coverage limits/deductibles etc. Seems VERY out of line with other quotes which other members are posting. For that matter, for the privilege of owning an Emira in the great state of CT, I’ll be paying an additional $3100 a year in auto taxes. Rethinking this whole venture…..

 

[benjh1028]

For context, I have many vehicles, several riders, and homeowners with same company for 30 years. Excellent credit, don't live in high crime area, no tickets, etc. I just added a Z06 and it was $75/mo and just checked Emira was $70/mo. Now that could change between now and when the cars arrive but that is what is showing currently.

Do you mind sharing the carrier name and what state you live in? Same situation here.

 

[MajHall04]

Does the cylinder count matter with these insurance quotes? I have a X5, Grand Cherokee, and a 430 grand coupe with a teenage driver. I pay $5800/year. Maryland

 

[K_Squared]

Does the cylinder count matter with these insurance quotes? I have a X5, Grand Cherokee, and a 430 grand coupe with a teenage driver. I pay $5800/year. Maryland

These seem like very high prices. I got a quote from my current insurance company (National General - a subsidiary of Allstate) for a 2020 Evora GT about 6 months ago and they said it would add $50/month to my existing policy with my BMW 340i and an SUV. Two drivers and my driving record is NOT spotless. I'm in Raleigh, NC. That's $600 a year and it was full coverage with well over the state minimum coverages. I haven't checked on the Emira yet since it hasn't really launched here in the US.

Bodily Injury	250/500K
Medical Payments	500K
Property Damage	100K
Uninsured Motorist Property Damage	100K
Uninsured / Underinsured Motorist Bodily Injury	250/500K

 

[MajHall04]

These seem like very high prices. I got a quote from my current insurance company (National General - a subsidiary of Allstate) for a 2020 Evora GT about 6 months ago and they said it would add $50/month to my existing policy with my BMW 340i and an SUV. Two drivers and my driving record is NOT spotless. I'm in Raleigh, NC. That's $600 a year and it was full coverage with well over the state minimum coverages. I haven't checked on the Emira yet since it hasn't really launched here in the US.

Bodily Injury	250/500K
Medical Payments	500K
Property Damage	100K
Uninsured Motorist Property Damage	100K
Uninsured / Underinsured Motorist Bodily Injury	250/500K

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