I've seen insurance discussed here from time to time in current threads, but I thought I'd bring up something that relates to myself personally.
I like to keep very high limits for uninsured and under-insured. I am in my early 30's, and statistically I'm more likely to end up disabled from an auto accident than I am to die from almost any cause. Many people keep minimum coverage, which even in the best states does not cover a moderate much less a severe accident.
As a past motorcyclist I imagine only a small portion of people here are as risk averse as myself. (After all, most people would consider driving a small vehicle more risky than driving a larger one. However I am just as Cheap than I am Risk Adverse so the Elio does still appeal to me.)
- Just out of curiosity I did a fake quote on Progressive choosing "3 wheeled alternative vehicle." and chose "Other make". I received the results in the range I should have expected: Extremely cheap minimum coverage: Less than $100 per year if I reject my states No Fault Tort . (For car insurance rejecting the tort raises the rates, but for motorcycle it lowers the rates because they don't have to provide me with medical coverage.)
On the flip side: uninsured and under-insured coverage makes the quote over double my current policy.
My hope is that there will be enough variation between insurers, that I could get a good price on the coverage I want (From a company that hopefully recognizes the cars safety ratings and realizes it is more like a car than a motorcycle. While others that desire it can get really cheap minimum coverage (From a company that has it classed as a motorcycle.)
Like much other information on this is purely speculative. Since this is not a finance site I didn't feel the need to over-explain my desire to own an Elio, but yet have high coverage limits. (For the record my current Geico policy is for a Cavalier and Civic, so know that high coverage limits can be affordable on a small car)
Any comments or other discussion on insurance?
I like to keep very high limits for uninsured and under-insured. I am in my early 30's, and statistically I'm more likely to end up disabled from an auto accident than I am to die from almost any cause. Many people keep minimum coverage, which even in the best states does not cover a moderate much less a severe accident.
As a past motorcyclist I imagine only a small portion of people here are as risk averse as myself. (After all, most people would consider driving a small vehicle more risky than driving a larger one. However I am just as Cheap than I am Risk Adverse so the Elio does still appeal to me.)
- Just out of curiosity I did a fake quote on Progressive choosing "3 wheeled alternative vehicle." and chose "Other make". I received the results in the range I should have expected: Extremely cheap minimum coverage: Less than $100 per year if I reject my states No Fault Tort . (For car insurance rejecting the tort raises the rates, but for motorcycle it lowers the rates because they don't have to provide me with medical coverage.)
On the flip side: uninsured and under-insured coverage makes the quote over double my current policy.
My hope is that there will be enough variation between insurers, that I could get a good price on the coverage I want (From a company that hopefully recognizes the cars safety ratings and realizes it is more like a car than a motorcycle. While others that desire it can get really cheap minimum coverage (From a company that has it classed as a motorcycle.)
Like much other information on this is purely speculative. Since this is not a finance site I didn't feel the need to over-explain my desire to own an Elio, but yet have high coverage limits. (For the record my current Geico policy is for a Cavalier and Civic, so know that high coverage limits can be affordable on a small car)
Any comments or other discussion on insurance?
Z