Insurance Megathread

[Sandvinsd]

I received a quote from Pure Insurance for approx. $6004 per year for my Grand Touring I live in South Florida, but this quote seems high to me. Any recommendations?

Very high. I received one from AAA for $6k and one from Geico for $2k so shop around. My current insurance gave me a policy a bit less than the Geico quote.

 

[CLTGT]

My rate from State Farm came in at $1300/yr. It includes max coverages as I also have an Umbrella through them. It is a $500 deductible. That is with a VIN attached.

 

[stratus]

That sounds very high. Not sure about Florida, but Allstate in NJ was $1500/year

I received a quote from Pure Insurance for approx. $6004 per year for my Grand Touring I live in South Florida, but this quote seems high to me. Any recommendations?

That seems ludicrously high. Allstate gave me a very reasonable quote, but I am in Idaho , and I am sure that had a lot to do with.
It was on the order of 160 a month or so.

 

[SM_NCarolina]

My rate from State Farm came in at $1300/yr. It includes max coverages as I also have an Umbrella through them. It is a $500 deductible. That is with a VIN attached.

Was it for home insurance and multi-car discount or without it? I'm waiting for my VIN, but want to know if you try AllState here and what the rates looked like?

 

[rbbarry]

Was it for home insurance and multi-car discount or without it? I'm waiting for my VIN, but want to know if you try AllState here and what the rates looked like?

I use Allstate, Ill let you know when I get my VIN....

 

[Tesla2.0]

My rate from State Farm came in at $1300/yr. It includes max coverages as I also have an Umbrella through them. It is a $500 deductible. That is with a VIN attached.

I have similar umbrella coverage with Geico.

 

[CLTGT]

Was it for home insurance and multi-car discount or without it? I'm waiting for my VIN, but want to know if you try AllState here and what the rates looked like?

I never priced it anywhere else. I have been with State Farm for 35+ years.

 

[TCGT]

I got a quote for Geico that is $300/500k with $500 deductible and full glass coverage for essentially $2300/year. I've been with USAA that offers a higher liability coverage, but premium is well over $3k. Anyone have experience with Geico service? USAA has been excellent for over 20 years.

One thing that's new for me is the idea of gap coverage - I've never had a car that I've owed this much on, and being able to pay off the loan if its totaled is now a concern. Seems it will also go back to the insurance co. policy of how they value car...it's a world of fine print.

Comments/suggestions?

 

[Steveinarizona]

I got a quote for Geico that is $300/500k with $500 deductible and full glass coverage for essentially $2300/year. I've been with USAA that offers a higher liability coverage, but premium is well over $3k. Anyone have experience with Geico service? USAA has been excellent for over 20 years.

One thing that's new for me is the idea of gap coverage - I've never had a car that I've owed this much on, and being able to pay off the loan if its totaled is now a concern. Seems it will also go back to the insurance co. policy of how they value car...it's a world of fine print.

Comments/suggestions?

I have GEICO and have had no problems with it. One advantage of GEICO is that it offers "Mechanical Breakdown Insurance" which is essentially the same as OEM warranty but with the addition of a $250/incident copay. But I suspect that given the newness of the Lucid, GEICO will probably not offer the MBI for a Lucid Air. If it did, with the very reasonable premium that they charge for MBI, it would be a very good reason to select GEICO.

I also pair my GEICO auto insurance with an umbrella policy. Maybe its overkill but it gives me peace of mind.

 

[TCGT]

I have GEICO and have had no problems with it. One advantage of GEICO is that it offers "Mechanical Breakdown Insurance" which is essentially the same as OEM warranty but with the addition of a $250/incident copay. But I suspect that given the newness of the Lucid, GEICO will probably not offer the MBI for a Lucid Air. If it did, with the very reasonable premium that they charge for MBI, it would be a very good reason to select GEICO.

I also pair my GEICO auto insurance with an umbrella policy. Maybe its overkill but it gives me peace of mind.

Appreciate hearing that. I’ll look into the “Mechanical breakdown insurance”. It sure seems that it would not be possible to actually replace a good number of the Lucid’s OEM parts with anything else.

I agree that most folks who are getting this car should probably have an umbrella policy. Will look into the Geico option. Thanks.

 

[Steveinarizona]

Appreciate hearing that. I’ll look into the “Mechanical breakdown insurance”. It sure seems that it would not be possible to actually replace a good number of the Lucid’s OEM parts with anything else.

I agree that most folks who are getting this car should probably have an umbrella policy. Will look into the Geico option. Thanks.

Duh...I should have added that the MBI starts immediately but its real value is after the OEM warranty expires. It runs out to 100K miles and 7 years. But, again, I would not be surprised if they didn't offer it on a Lucid. Initially they didn't offer it on the BMW PHEVs but did after they had some experience with them.

 

[RNO-GT]

Travelers
$1400 per year - based on stated value. Once insurance companies figure out what car this is and it is in their system, they will raise the rates.

Hey JayZee, I'm about to take delivery of my GT and still shopping for insurance. Is Travelers still giving you $1400/year for stated value? That's amazing if so.
-TIM

 

[rbbarry]

Hey JayZee, I'm about to take delivery of my GT and still shopping for insurance. Is Travelers still giving you $1400/year for stated value? That's amazing if so.
-TIM

@ATX-GT I do not see you on the tracker list, can you send me your exterior color/interior color, order data and VIN date and if you have a delivery date?

 

[Fischman]

$1968 per year USAA. 2 other autos and motorcycle on policy. Max coverage due to umbrella.

 

[RNO-GT]

@ATX-GT I do not see you on the tracker list, can you send me your exterior color/interior color, order data and VIN date and if you have a delivery date?

Sure!

Ordered: January 19, 2022
Vin: May 31, 2022
Delivery, soon. it's at the delivery center in Houston

Stellar White, Mojave Interior, 21” Aero Blade Wheels, Glass Canopy Roof and AWD Drivetrain

 

[Tesla2.0]

Sure!

Ordered: January 19, 2022
Vin: May 31, 2022
Delivery, soon. it's at the delivery center in Houston

Stellar White, Mojave Interior, 21” Aero Blade Wheels, Glass Canopy Roof and AWD Drivetrain

Texas Lucid owner?

 

[RNO-GT]

Texas Lucid owner?

Well, my lucid advisor says we are close. Did you take delivery yet?

 

[Steveinarizona]

$1968 per year USAA. 2 other autos and motorcycle on policy. Max coverage due to umbrella.

I don't understand. Umbellas usually require a certain level of coverage but not max. For example, on my GEICO umbrella, I am required to carry at leat $200K per person but not max.

 

[Tesla2.0]

Well, my lucid advisor says we are close. Did you take delivery yet?

I had mine for 3 months. Welcome to west Houston neighborhood.

 

[RNO-GT]

I had mine for 3 months. Welcome to west Houston neighborhood.

Sweet. So can the AC keep up with this Texas heat?