Elio Insurance - Cost. - General Discussion And / Or Specifically Advanced Coverages.

robert109 said:

Hello all. I have owned a 3 wheeled electric car/motorcycle in Illinois for 11 years. State Farm has insured it for a very low cost of around $185 a year. The vehicle is called the "gizmo". So I fully know from experience, to insure my Elio will be the same cost, maybe slightly higher due to the higher operating speed the Elio can achieve. I have already contacted my agent and they agree.

My Gizmo footage:

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Robert, the Gizmo EV looks like a very functional little about town vehicle. Thanks for posting the video.

Among the new events for May which EM posted today was this, unfortunately closed to the public, event.

May 05, 2015 - May 06, 2015
Ruckersville, VA
Insurance Institute for Highway Safety (IIHS)
Symposium with US insurance companies
Closed to the public

This is not entirely unexpected, as it had been mentioned to a few members, however it is good to see it confirmed on EM's web site. It is great to see EM already working with the insurance industry so everyone is on the same page when it comes to what this vehicle is and what safety features it will have which make it very different from normal motorcycles. Also as EM is leading the way in creating a legally defined category of autocycle it helps to work with the insurance industry so everyone is on the same page during this process.

Good progress news, thanks.

sure hope we will get a news update on yesterday and today's event at the VA Insurance Institute for Highway Safety (IIHS)

JEBar said:

sure hope we will get a news update on yesterday and today's event at the VA Insurance Institute for Highway Safety (IIHS)

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I'm sure it'll take some time, the guys who "saw" the E probably not the same who crunch numbers, and for sure, at this time, there is no rush.

MY FREEWAY IS TITLED AS A BIKE . ( THEY GAVE ME A CHOICE ! )
THE INSURANCE WAS MUCH CHEAPER FOR THIS VEHICLE WITH A BIKE PLATE
ON IT THAN IT WOULD HAVE BEEN AS A CAR .

I WAS ASSUMING THE ELIO WOULD HAVE THE SAME BENEFIT .
MAYBE NOT WHEN LOST OF THEM START SHOWING UP ,
WHICH WILL BE ANY YEAR NOW ............

Joshua Caldwell said:

Welcome, and when I called USAA myself they said it would be covered as a compact car, and another forum member says they were told it would be covered as a motorcycle. This early in the game, I think the reps are just guessing.

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With you being a staff member....tell me if I'm wrong,but I remember reading on the main Elio website that the "Elio" is in the phase of being termed as a "Autocycle" It seems they have been working on having that term name being introduced into legislation since there has not been a transport like the Elio. After all this is a part of the kinks to be worked out in a transportation revolution...Right ?...According to laws on the books now it's a motorcycle....(but, it's enclosed with 5-star safety rating ???)...It's a car?...NO !...(It must have 4 wheels ???)...What to do ??..Elio has the best response...GET RID OF HELMET REGULATIONS #1...# 2.. Get the term "Autocycle" accepted and insure the Elio based upon the safety and cost of replacement....It's brilliant and what I would expect from the high quality team assembled at Elio headquarters ...PERIOD !...just sayin'

Elio Motors is actively lobbying in all states and on the Federal level to create the Autocycle category .... as you note, with 3 wheels it is classified as a motorcycle .... what they are doing is to create a subset within the motorcycle class which will covering the type of driver's license required an wave the use of helmets .... there are still a few states where this effort hasn't been completed

I am new here and Insurance is one of my big concerns. 7 years ago I had a major crash on my Gold Wing which landed me in the hospital with multiple broken ribs and 3 breaks in my collarbone. Luckily I was wearing a helmet. I then found out that in Minnesota, motorcycle insurance does not cover medical as the insurance treats motorcycles as a leisure item and does not require coverage for medical. My personal insurance covered it but I was told that I could not even purchase medical insurance for a motorcycle. If I did not have my personal insurance, I would have been in trouble!

I can only hope things have changed.

jimvw57 said:

I am new here and Insurance is one of my big concerns. 7 years ago I had a major crash on my Gold Wing which landed me in the hospital with multiple broken ribs and 3 breaks in my collarbone. Luckily I was wearing a helmet. I then found out that in Minnesota, motorcycle insurance does not cover medical as the insurance treats motorcycles as a leisure item and does not require coverage for medical. My personal insurance covered it but I was told that I could not even purchase medical insurance for a motorcycle. If I did not have my personal insurance, I would have been in trouble!

I can only hope things have changed.

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Jimvw57' welcome from sunny New Mexico. I'd check with your insurance company and ask them specifically about autocycles? Enjoy the forum and the journey with us.