While at the NAIAS show last weekend in Detroit, I asked a Harley Davidson motorcycle dealer, located downstairs, what a ballpark figure was to insure a medium sized motorcycle that they had on display. He couldn't give me an exact answer, but he said for that model (he owned 4 different ones by the way) it would be between $100 and $200 a YEAR to insure. Well, that made my day! He told me his yearly expense for his 4 motorcycles was $420! If the Elio can be classified as a motorcycle, or slightly higher, this would be a doable equation for me. Any thoughts?
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Insurance Costs? (egads!) Another Can Of Worms!
- Thread starter nickskeys
- Start date
John Painter
Elio Addict
That's pretty much exactly what my agent at Liberty Mutual said. After he did a little research on the Elio he said it would be the same as my motorcycle $120/yr and that includes 12 seasons and a passenger.
TCBronson
Elio Addict
I expect insurance to be reasonable if not cheap just because of the total price of the vehicle regardless of car, autocycle or motorcycle classification.
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NSTG8R
Elio Addict
My thoughts exactly. Replacement cost would be squat compared to pretty much anything on the road, and most insurance companies won't want to jack with fixing or replacing cracked body panels. Looks like I need to buy some property for an Elio only junkyard. I'll give you a good deal on a low-mileage Elgin dash assembly.
Ty
Elio Addict
Insuring an Elio won't have much in common with motorcycles. Why would it? Insurance isn't set by category but rather actuary tables. They will charge whatever they need to make a profit. If Elios are high theft, expect rates to go up. If the Elio is salvageable after a 5mph bump, expect rates to go up. The fact that the Elio is less expensive to buy new thAn most motorcycles AND the fact that they will be inherently safer means they COULD be less expensive than motorcycle insurance. The number of miles per year being the only place where a motorcycle would come out ahead...
Insure a motorcycle for $400 per year covers the 2-5k miles it will travel.
Insure a less expensive, safer Elio for 15k miles will cost how much? 3 times the miles, 10 times as safe.
Insure a motorcycle for $400 per year covers the 2-5k miles it will travel.
Insure a less expensive, safer Elio for 15k miles will cost how much? 3 times the miles, 10 times as safe.
TCBronson
Elio Addict
The cost of insurance does make some difference regarding the number of miles driven per year.
Adamant
Elio Addict
Nice. I gotta see if AAA will give me the same deal.
wizard of ahs
Elio Addict
If the insurance is a deal breaker for you, MAYBE you shouldn't be thinking about buying ?????????????
slinches
Elio Addict
Also, nick, how do you get around now at similar or lower cost than in an Elio? Public transport is probably more expensive.
The insurance IS a huge factor for me. If it is over $400.00 a year, I won't be interested.