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

[Coss]

I have my car insurance through Costco; Full coverage on a 2007 Magnum SRT and a 2008 Dodge Nitro 4wd, 2 drivers, $100 deduct on the Nitro, $250 on Magnum 2 drivers, and the house is through them also.
Cars cost $1,100 per year for both (not each)
I've yet to be able to find a lower (other than USAA but I'm not a vet).

I was just looking into the insurance for the Elio and in WA state it's not mandatory to have it. (Doesn't mean I won't have it though).

 

[MASCMAN]

What a great idea! This is an approach that has NEVER been tried!

Ever hear of a little company named Harley Davidson?

They have their own bank and insurace company!

One stop shopping...

 

[Charlie G]

Folks who just look at the rate do not realize that USAA pays a dividend each year based on their claims and for the more than 40 years that I have been covered by USAA I have received one. Mine have usually been in the $300 range. No one has been able to beat the annual cost.

Interesting, didn't know that. They won't insure my MGTD kit car, so still out.

 

[outsydthebox]

If you really want to know how good a particular (auto) insurance company is, have a chat with your local body shop owner or manager. They can tell you which insurance companies pay for "proper repairs" and which ones want the shops to cut corners. Good rates aren't worth much if they don't live up to their obligations.

 

[Jambe]

Good idea. I think I will do that when the time comes.

 

[Dustman]

If you really want to know how good a particular (auto) insurance company is, have a chat with your local body shop owner or manager. They can tell you which insurance companies pay for "proper repairs" and which ones want the shops to cut corners. Good rates aren't worth much if they don't live up to their obligations.

Great advice - this is so true.

 

[Joesentme]

Hi everyone. My wife and I put our toe in the water for the $100 all-in and are looking forward to getting one. Hopefully, it will be built in large numbers and a strong aftermarket will spring up. I see things like pop-open rear windows and a rear window replacement option for the trunk lid.

I called our insurance guy the other day to see what my insurance costs would be. He said he would look into it since the vehicle was not yet offered for sale and was not in 'the system'.
When he called back, he said he could not write a policy from his preferred Company so he called Progressive. The underwriter for them had heard of the Elio but they are not going to cover it.

He buffered this bad news with the knowledge that Companies did not insure the Ford F350 when it first came out either, and now they do.

On another note;
I assume that Elio has made several P4 models for demos and as prototypes but I was wondering if anyone knows how many have actually been made?

Moderator comment: Welcome to ElioOwners.com. I have moved your question into this already existing insurance discussion thread

 

[BriansElio]

Curious about the F350... looking on the Internet it mentions that some insurance companies weren't insuring the truck due to the weight of the truck... apparently some don't insure 'commercial' vehicles. In a lot of cases the truck wasn't bought for commercial uses.
I know there was another string about insurance on the forum's here that had much more information. I would do a search. It should find it easy enough.

 

[Gas-Powered Awesome]

On another note;
I assume that Elio has made several P4 models for demos and as prototypes but I was wondering if anyone knows how many have actually been made?

Congratulations and welcome aboard. I don't expect any problems with insurance. We are more than a year away from production, plenty of time for Elio and the insurance companies to get their stuff together.

As for the P4. There Is Only One. They don't have any plans to build more than the one.

 

[AriLea]

When he called back, he said he could not write a policy from his preferred Company so he called Progressive. The underwriter for them had heard of the Elio but they are not going to cover it.
He buffered this bad news with the knowledge that Companies did not insure the Ford F350 when it first came out either, and now they do.

Well, there is a way to push this at the grass roots level. Just simply make inquiries to two insurance companies. Just imagine 34,000 people asking. At some point they will come around. They will have to consider losing customers to a company who does insure it.
I imagine fewer than a dozen people have asked up to now. Let's change that. I'll try a couple motorcycle insurance companies too.
If not now, I would think this should be started no later than 2nd quarter of 2015.