Insurance Megathread

[lsbuffs]

Having made my first-ever insurance claim earlier this month, I gotta admit that Toggle (aka Farmers but for millennials) made the process really smooth. No complaints at all.

Pretty good rate too, especially considering I hadn't driven a car in 15 years prior to June

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Does this rate include full glass ($0 deductible)? Here in Arizona, that's the most important part of our policies.

 

[borski]

Ive surprisingly noticed this too. I thought most people buying lucid would have significant money to spare and would typically "self insure" since it cost less longterm or just pay for damages and not involve insurance to skip the hassle. Perhaps a fair number of people strech their dollars having less of a buffer.

The bigger issue is that it is an unexpected cost. Wealthy or not, money is usually tied up in investments, and selling them often triggers tax consequences; cash, itself, is a poor investment vehicle, especially with inflation where it is.

So the hassle of dealing with insurance turns into the hassle of dealing with credit lines or finding ways to generate cash flow, which can result in tax consequences, etc.

I’m not sure it’s as significantly easier than you think, as compared to just budgeting for whatever insurance premiums cost.

Deductibles do tend to run higher though; I have a $1k deductible but have friends with $5k.

 

[jtbg]

6 month or 1 year premium?

That's 6 months premium

 

[Japper2112]

I got the call yesterday with my VIN number for my GT. Made some calls for insurance quotes today and got nowhere. They never heard of Lucid! For those of you who already received delivery, where did you go for insurance?

I use Safeco, $2200.00 per year and they insure my Montana Registered AGT

 

[dbschwartz]

I got the call yesterday with my VIN number for my GT. Made some calls for insurance quotes today and got nowhere. They never heard of Lucid! For those of you who already received delivery, where did you go for insurance?

I was initially with AIG but they’ve pulled coverage on many lines in California so we switched to Pure. www.pureinsurance.com Both of them as well as Chubb are real “concierge” company’s typically targeted at high net worth individuals. As the saying goes “you get what you pay for”. My wife was driving the Lucid in October and was hit in the right rear passenger door and quarter panel by a truck that didn’t see her on the freeway. Lucid had authorized Brooks in the Bay Area for work. Quote was $33K, final bill about $35K. I received a check a week after the quote was emailed and we had a Tesla S rental for 3 months. First accident in 30 years but worth using one of the best. Oh, and “P.S.”, Tesla is no comparison to our Air grand Touring…we couldn’t wait to giver it back to Enterprise!!

 

[Phil]

I got the call yesterday with my VIN number for my GT. Made some calls for insurance quotes today and got nowhere. They never heard of Lucid! For those of you who already received delivery, where did you go for insurance?

State Farm charges me $668.25, six month premium.

 

[Grnr92663]

$740 every 6 months with Wawanesa (CA). AAA wanted $1200 for 6 months and Mercury won't even want to insure the car.

 

[elusive7]

$647/6mo with Progressive in IL for both my wife and I on the policy. Ended up being ~150-200$ cheaper than Geico for every 6 months.

 

[HariK]

Travelers CA

 

[Ludicrous]

Costco (AmFam) & Metromile won't insure the car as it's over six figures. Progressive is about $3400/year, Geico is $2600/year, and State Farm $3000/year. I have 15 years of driving experience in CA with no DUI, accidents or tickets. What are these absurd rates...

 

[Zombies]

Costco (AmFam) & Metromile won't insure the car as it's over six figures. Progressive is about $3400/year, Geico is $2600/year, and State Farm $3000/year. I have 15 years of driving experience in CA with no DUI, accidents or tickets. What are these absurd rates...

That's odd. Also CA, clean record, State Farm is under $700/6 months. Have home and 3 other cars insured with them, but still, talk to the agent and try to figure out what's going on.

 

[Bobby]

Costco (AmFam) & Metromile won't insure the car as it's over six figures. Progressive is about $3400/year, Geico is $2600/year, and State Farm $3000/year. I have 15 years of driving experience in CA with no DUI, accidents or tickets. What are these absurd rates...

Seems high. Here’s mine:

 

[VoitureElectriq]

This looks very reasonable. Are you bundling this with anything else and getting a discount? Another car policy or a home policy? Your profile indicates you own multiple cars. But definitely a great price. Glad to read that insurance this car will not cost an arm and a leg!

 

[Bobby]

This looks very reasonable. Are you bundling this with anything else and getting a discount? Another car policy or a home policy? Your profile indicates you own multiple cars. But definitely a great price. Glad to read that insurance this car will not cost an arm and a leg!

Yes, it is bundled with several other policies.

 

[RedwoodEmpire]

Costco (AmFam) & Metromile won't insure the car as it's over six figures. Progressive is about $3400/year, Geico is $2600/year, and State Farm $3000/year. I have 15 years of driving experience in CA with no DUI, accidents or tickets. What are these absurd rates...

That seems way off. Costco(AmFam) did eventually cover me, but they had to go through underwriting for all my cars again (Model X and Honda Odyssey). I'm at about 1700 per year through them (for the Lucid).

Is your garaging zip code in Stockton? Are you a race or stunt car driver?

 

[Ludicrous]

I have State Farm home insurance and bundling my auto with it, I'm only missing multi-car discount so it's still relatively high for what it is.

I'm in the Bay Area (contra costa county) suburbs with an annual mileage of ~5K.

I played around with Geico a bit more and got it down to ~$1500/year.

 

[Ludicrous]

Geico adjusted the quote back to $2200/year due to 2 not at fault accidents they found on record. That’s fantastic, back to square one.