Lotus cars are considered high performance sports cars. Thus, this fact alone puts them in a higher category for insurance premiums than other vehicles. To further complicate the insurance decision making process for the purchaser, some companies will not add Lotus models to their online calculators so fact find finding and pricing research is not always easy. For those individuals that already have Lotus car insurance, they will be familiar with the pricing and policy details. But new drivers will be uninformed. Of course, the other side of the coin is, if you have enough money to buy a Lotus, you do not care what it costs to insure.
Admittedly, the Lotus Exige Cup 240 is going to be very expensive just due to the speed at which the car claims to travel. Reaching sixty-two miles per hour in 4.5 seconds, this car tempts the owner to drive fast, something insurance companies do not like. The Elise convertible will also be more expensive than hardtop models. All convertibles are more expensive because of the potential dangers when driving with the top down.
The consumer might even find that when he/she goes shopping for Lotus car insurance, many companies will insure not the driver and vehicle. And if one is going to drive a car like the Lotus, he/she will want to make sure his/her driving record is impeccable. A few past speeding tickets and he/she has a big problem. Lotus equals speed. Consequently, the insurance company’s assumption will be that the driver is a high-risk customer.
The best way to start searching for Lotus car insurance is to start with an existing broker or insurance company. But it is most likely not a good idea to stop there. If one must stick to a budget, shop around by looking for Lotus forums on the internet and specific sites that cater to Lotus cars.
One trap into which one should not fall is calling every insurance company in the phone back or using all the online quote generators as many will not give electronic quotes on Lotus cars and the information will in most instances be inaccurate. Companies want to talk to potential customers directly when speaking about Lotus car insurance.
A few of the companies that the author did find in the US and Canada offering Lotus car insurance are:
- Geico in the US
- TD Insurance and RBC Insurance in Canada
- Allstate, State Farm and Progressive in both the US and Canada
Lastly, while this information is for illustration purposes only, the author called his own insurance company, to inquire about Lotus car insurance. The vehicle quoted was a 2007 Exige S 2dr. Based on personal information with an excellent driving record of thirty-four years, no previous insurance claims, female driver, and an existing home and auto policy, I was surprised to find that the insurance was only four hundred dollars more per year than the Mini Van already insured.
Calling another major insurance company, when I inquired with the same details, because I was not presently insured with that particular company, the premium would be an extra six hundred and fifty dollars per year over the Mini Van. Thus, one can see that is important to use available discounts and check around when purchasing Lotus car insurance.
» Read more: Finding Car Insurance For Your Precious Lotus