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How Much Could One Expect To Pay For Autocycle Insurance?

pistonboy

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Here is the link: https://www.congress.gov/bill/114th-congress/senate-bill/685/related-bills

Several committees are diligently working on it. I mean, I'm sure they are working on it. Aren't they?
This is a good post. It has a link to solid information.

On that congressional website, it has a progress bar showing it has been introduced into committee and still has to be passed by the senate, the house and signed by the president. Trivial (sarcasm).

I understand many bills are introduced in congress and die in committee. There is probably a drop dead date for each bill. I doubt congress will pass a bill for a vehicle that does not exist. They look bad enough the way it is. They will wait and if they start to appear on the road in significant numbers and Elio Motors look like it will be a stable company continuing to produce these vehicles, then I believe they will quickly pass this bill.

I know Senator Vitter kinows all this but introduced this bill to show his support for jobs in his state and he has certainly done the right thing. I believe he will reintroduce this bill when the Elios start rolling off the line and he will start talking the bill "up".

I believe the states, at this time, will want this bill to pass. It will make life much easier for them. Autocycle will be a classification on the title. All they have to do is pass a bill requiring all autocycles to meet automobile requirements testing. Until this is bill is passed, Elio Motors will be forced to classify it as a motorcycle.
 

John-b-gone

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OK Thanks for all the reply's. Sorry for the optimistic and somewhat premature question. What is the average monthly cost of your motorcycle insurance with the liability/full coverage in that order in your area? Thanks in advance.
 

ks6c

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I pay ~$200/year for full coverage (liability/collision/comp/medical, etc., etc!) on a 2014 Harley Ultra Limited that cost 4x an Elio. Remember, though, insurance companies expect it'll be in the garage 3-5 months per year and be ridden comparatively lower miles than any car so I'm not sure motorcycle insurance costs will be a good reference.
 

Hotscoots

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Posting any dollar amount for the Insurance costs on an Elio is pure speculation , but Insurance companies do use several metrics to build a policy premium:

Elio is priced at approximately 25% of a "typical" car.
Elio is a quasi-motorcycle.

Reasonable deduction concludes that the Insurance costs associated with owning an Elio will be a fraction of that of a "typical" car.
 

Ty

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Posting any dollar amount for the Insurance costs on an Elio is pure speculation , but Insurance companies do use several metrics to build a policy premium:

Elio is priced at approximately 25% of a "typical" car.
Elio is a quasi-motorcycle.

Reasonable deduction concludes that the Insurance costs associated with owning an Elio will be a fraction of that of a "typical" car.

I would expect that the cost of insurance will be exactly as you indicated. Find the cheapest car on the market and see what it's insurance is and I would bet that the Elio will be close. Motorcycle insurance won't have anything to do with it. Anyone hoping "My motorcycle is $50 a year so.my Elio will be close to that" will be disappointed. The cost to replace an Elio will be pretty low (think used car insurance). He amount of damage the Elio causes in an accident will be similar to a small car. Really, it doesn't matter too much that it weighs less. It'll still cause body panel damage to the other guy. The Elio's safety should be in par with other small vehicles. The Elio will be driven like other small vehicles and not seasonal like most motorcycles. Damage to the Elio in impacts will be similar to other vehicles... etc.

Wishing insurance companies will insure the Elio for pennies doesn't make sense. Insurance companies aren't in the business to give away money. Figure out what a similarly prices small car would cost to insure and you'll be close. Maybe a 2 year old Honda Fit would have the same cost (and safety).
 

Coss

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If insurance companies all charged the exact same amount guessing at how much insurance will cost would be easy.
But every one of them is different, and each one has different formulas for calculating your cost.
Age, driving record, where you live, if it's garaged at night, how far you travel, what day of the year it is and a whole list of variables come into play.
I have Costco Ameriprise and have been with them for 12 years. I do cost comparisons every year to 18 months and still can't find anyone that offers the same coverage for the price I'm paying (except for the coverage the military offers) so I'll be sticking with them.
 
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