Insure Your Lotus Elan For Less Than You Are Paying Now
If comparing car insurance was easy, most of us would do it more often. But in reality, the cost for insurance always seems too high and most people would prefer to get a root canal. Buying insurance on your Lotus Elan might leave you feeling the same way.
Step One: Compare Multiple Rates
If it's been a few years since you shopped for car insurance, you might still think the only way to buy is from a local agent. Not anymore!
All the major car insurance companies sell insurance for a Lotus Elan and you don't even have to visit each individual website!
Take the first step by clicking the link below. By answering a few questions you'll be able to compare rates quickly and easily.
Quote Tip! In order to accurately compare rates for your Elan, it's critical that you use the same limits and deductibles for liability and physical damage coverages like comprehensive and collision. If you use different limits, you will not be able to accurately compare rates between carriers.
Step Two: Top Ways to Get Lower Elan Insurance
After completing step one above, you can now learn some of the other ways to slash your Elan insurance costs.
- You can definitely expect to pay a little more for insurance due to the performance level of your Lotus Elan. Vehicles with less power and speed tend to cost less to insure.
- How is your credit rating? The better credit you have, the less insurance will cost for your Elan. If you have bad credit, work on improving your credit score and repair past credit problems.
- Owning a luxury vehicle like your Elan means you'll pay a little more for insurance due to the higher cost of repair parts.
- If you've recently completed a driver's training or safety course, tell your insurance company. You may qualify for a 5-10% discount.
- People like sports cars like the Elan for many reasons, but one of them is not a low cost to insure. Sporty vehicles generally have higher performance and with that comes higher risk for an accident.
- When buying a new policy, you do not want a gap in coverage. This lapse is viewed by insurance companies as a high risk, and you will pay more for your next policy.
- Being a homeowner can often get you a little discount on your auto insurance. Insuring you home with the same company as your autos can often get you even deeper discounts.
- If you belong to a professional organization for your employment, you may qualify for a discount rate. And if you're a senior citizen, you may get a discount for your age as well.
- If you're willing to shoulder more of the cost at claim time, consider raising your comprehensive and collision deductibles. This can easily cut 30% or more from your policy premium.
- If you're a young driver, you will pay more to insure a Elan. There isn't anything you can do about your age, but rates will drop as you mature.
- Speeding tickets and other violations can negatively impact your insurance rates for up to three years. Get too many tickets and you'll be shopping for a new car insurance company.
- Equipping your Lotus with available safety features such as air bags and passive restraints allows you to take advantage of additional discounts.
- Filing too many claims with your company can end up either costing you more for insurance or having your policy cancelled. Insurance companies don't like paying any more than you do, but they have the option of whether to keep you as a policyholder or not.
- Insurance companies pay attention to which vehicles are stolen the most, so if your car is frequently targeted by thieves, chances are good you will pay more for insurance if you live in certain parts of the country.
Step Three: Make an Informed Buying Decision
Buying a new car insurance policy is just a matter of finalizing your application form and submitting it with your down payment. Once payment has been accepted, coverage is bound the effective date shown on your application.
On your new policy, double check that the effective date is the same as the date you are cancelling your old policy. This avoids any lapse in coverage which can cause an increase in your rates.
If you are adding a vehicle to an existing policy and not buying a new one, just make sure to get the vehicle added as soon as possible. Every insurance company offers a grace period to add new vehicles, so make sure you get the Lotus added prior to the expiration of this grace period. If your current policy has any vehicle with full coverage (comprehensive and collision), then your new Elan will have that coverage extended to it. If you only have liability coverage on your policy, then you have no physical damage coverage on your new purchase.
Be sure to replace any old proof-of-insurance cards in your car. You must always have the current card in your vehicle as required by state law. If an SR-22 is required due to a reckless driving conviction, DUI or conviction of driving without insurance, make sure your new company is aware of that. Not filing a court-ordered SR-22 can result in suspension of your driver's license.
Additional Insurance Information
To do more research on car insurance, visit the Insurance Information Institute website.
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