Written by When I purchased my Lotus Elise I didn’t really put any thought into having trouble insuring it. I called Progressive, who I was already insured with, and they were more than helpful in trying to find the right policy for the vehicle.
I hadn’t thought that I might need to use a special insurance company that dealt specifically with exotic cars, and thankfully I didn’t have too, but it was looking that way when the representative I spoke with had never heard of Lotus and had to make a few calls to find out what rates would be, including putting me on hold for at least 5 minutes a few times while she talked witha manager to figure out what to set the premium at.
Towards the end of the conversation they agreed to insure the car based on the value of the vehicle (at the time $42k) and this was the basis for the premium. I’m not entirely sure how that works, including depreciation, but it was a relief to know that you could still get car insurance even if the vehicle wasn’t in the insurance companies system.
The end result is that I am very happy with the service and friendliness of the Progressive, and would recommend this company to anyone that needs to insure their car.
my elise is like $800 every 6 months. An absolute rip off for the value of the vehicle today ($34,000). That would be like insuring a used BMW 325 for that price…doesn’t make any sense. Besides, you would never use the Elise as a daily driver in most states, so the insurance companies are banking on this premium.
the lotus elise is a hot car. Looks more expensive than it really is. Insurance isn’t that bad, about $100/mo…and that’s if you’re not an older driver (over 45) and have a decent driving record.