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Discussion Starter #1
Howdy all! A somewhat selfish question for you all to help me answer... since I'm not well versed in car insurance... what will buying a Solstice do to my insurance rate under the following conditions:

1. I keep my 2005 Scion xB, which I am currently paying $1500/6 months (yes, you heard that correct). I am 22 and going through a local insurance carrier. However, I will be switching to Progressive or the like, which will put me at around $600-700 a month. Adding a Solstice on top of this would do what? Are there economies of scale when it comes to car insurance and having mulitiple cars, or do I expect to at least double my insurance rate again?

2. I own just the Solstice... what do YOU all expect to pay for insurance on this car vs. what you have paid for your average 4-door, and what would you expect me to pay? In other words, being young hurts me on all counts, as you can see with my Scion... but would I be hurt MORE because the Solstice is a sports car AND I'm young?

I know there are a lot of people out there my age, as well as others with more, um, "life experience", who may have owned a sporty car and a sedan at the same time. Any help is appreciated!
 

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1) I'm not necisarily sure about owning more then one car yourself, but I know from adding another person to my insurance it the 2nd person cost signigicantly less. I was paying $550/6 months before and it went up to $900/6 months. The other individual had a speeding ticket and wreck in the previous 3 years as well. They were paying $1100/6 months by themselves before too. I have a really good standing with Allstate though. The problem is your younger and male. Plus the Solstice is a roadster. Being a two seat sports car is one of those classifications that makes a car more expensive. So adding a second car will be cheaper then doubling, but you're going to pay a good bit more I bet.

2) Yes, the Solstice will hurt more then your Scion. Scion is a small, compact, cheaper, much more mass produces, less power, more doors car. I'd expect you to pay 10%-20% more for it alone. I expect to pay about that much more too, but I'm paying far less so it wont effect me as much.

Your really only going to greatly decrease your insurance rates by several ways. Get married. Turn 25. Wait 3 years for tickets/wrecks to come off your insurance. Become a long term member and get a discount. Be a good student and get the good student discount.
 

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Discussion Starter #3
brentil said:
I'd expect you to pay 10%-20% more for it alone. I expect to pay about that much more too, but I'm paying far less so it wont effect me as much.
Right, thats sort of what I was trying to get at. I'd imagine it COULD be likely that I would pay 20% more for my Solstice than my Scion, while if you owned a Scion and bought a Solstice, you'd only pay 10% more, since I'm in that under-25-watch-out-for-me-I'm-a-crazy-driver bracket. I have no evidence of this, just thought that maybe "youngin+sporty car" equals a danger exponentially greater than "over 25 + sporty car" when compared to your regular everyday sedan, or box-on-wheels.
 

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Hard to say on insurance.

If you "declare" 1 of your cars as your daily driver and the other (Solstice) as "pleasure car" the rate will be less than if you were driving Solstice all the time. Insurance is based on risk and a "pleasure car" you only drive 5K a year will be less risky (less driving). That should save you some $$$ but not sure how much.

Overall the Solstice shouldn't be too bad to insure but yes probably more than a sedan.
 

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Turbo = Extra$$ and Supercharger = Extra$$

Plus, don't all of the power adders make preminum fuel a requirement and increase the bottom line (COO)?

Steve
 

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I don't think the manner of extra power causes insurance to go up, it's more the fact that the car costs more, therefore it costs more to insure. It's already in the two seat sports car segment, so that wont change. Naoki's questions however didn't concern the possible future models that might have forced induction, but the current normally aspirated 2.4L ECOTEC.

The easy answer to this of course is you call your insurance dealer and ask them. They can give you a 100% definitive answer. Exact same thing with calling a new company you want to move too. They'll gladly give you any info in hopes of getting your business.

And like mceb said, putting the car as a Pleasure Car is a great way to save money on it. However, like he said you're limited to 5,000 miles a year on it. So it's good if it's a weekend car, or track car. However if you go over the 5,000 a year, i'm not sure what type of penalty your insruance company might impose.
 

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Insurance is hard to quantify since each company is different, and they treat cars differently. I will speak from personal experience.

I currently have two cars insured on a personal policy (no added drivers). Those cars are my Fiero which is designated "for pleasure" and my Jeep which is my commuter. My insurance is about $100 more per year having both vehicles on it (Total is $1500 per year) than it would be by insuring either one on its own. I assume the reason is that I can only drive one at a time, so having a second car insured in my driveway is not much of an added risk.

Now the type of car has an affect too. My Jeep is relatively cheap to insure, and my Fiero relatively expensive. The last time I shopped for cars, I found a wide range of costs that didn't seem to make a ton of sense. For example, a Miata and an MR2 where a couple of the cheaper cars I could insure, where as a Mustang convertable was outrageous (even the V6) and anything with a Honda badge was astronomical. So many factors go into it, parts costs, collision repair costs, theft rates, how often owners get ticketed for moving infractions, etc etc. Now another insurance company may rate the same vehicles differently too.

I expect the Sosltice to have fairly moderate costs, even with a bigger engine. The domestics for the most part are not really expensive to repair after collissions. Other two seat roadsters like Miata are not expensive either. I don't think it will be bad, but who knows!
 

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Discussion Starter #8
I appreciate everyones input.

Car insurance may not be a big deal to many of you, consider yourselves lucky, for me, it will be a major component of the "true operating cost" of the Solstice, as I'm already paying roughly $250 PER MONTH to insure a $15k vehicle. On the other hand, my monthly payments are ~$100 (don't owe much on it). Crazyness!!
 

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That depends

copy of an older post, sorry but it still applies :smile


Insurance is based on risk and recovery.

A cheap car that costs a lot to repair from a mishap will cost more to insure. Horse power has no bearing on the equation other than the fact high power will be used, unwisely more often than not.

More mishaps per car/given driver = higher premiums. Younger drivers have better reflects but less experience, The Insurance Company is not in business to protect you the driver/owner. They assume risk for profit.
So if the Solstice is easy to repair from a mishap and the driver pool is careful the answer is "that depends".
 

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Add to that, Where you live. Moved less than a half mile, but to another county, and my insurance with the same carrier dropped by a third. Has to do with automotive density and incidence of theft or vandalism. Another way to save is to have your home owners and auto with the same carrier. A third way to save is most will give you a cut if you've been with them for a while. It's an incentive to keep you as a customer.

I'm sure you know, the older you are, the cheaper it gets with landmarks (for guys) at 18, 21, 25. and 28. And being married helps, believe it or not.

As was mentioned, Miata's are cheap to insure, mostly because (hate to say this but) a large number are driven by better drivers which equals fewer claims. And very few are stolen. Try getting insurance on a big block pickup truck. Because they have the highest number of single vehicle accidents by far, their rates are higher than a 'Vette, even though they cost less to repair. But it's rare to see a 'Vette speeding on the highway. But how many times have you seen a Honda fly past you?
 

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Discussion Starter #11
I'd assume the Solstice to be considered hard to repair, what with it being a new model and all. I'd imagine the body construction itself to lend itself hard to repair. Add to that that it's a new model. I fear that insurance could be comparatively high for a Solstice, but this is coming from a non-car guy like myself. Does the fact that the Solstice uses a good number of parts from other GM vechicles negate this?
 

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I had a sebring convertible, and was expecting higher insurance due to the ease of breaking into one. However, it was cheap to insure, as the agent told me it wasn't classified as a 'performance' car. As the Solstice has a 4-cyl, I'm hoping the insurance companies won't see it as one either, although it sure does look like one. Hopefully they only judge on horsepower, and 170 doesn't look like much compared to a Mustang GT.

These things can vary widely among insurance companies, however. Some might very well judge it 'cheap to repair' due to the common parts. I just wonder how much those hydroformed fenders and hoods are going to cost.
 

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Driver age and driving record will be the two most important factors in the insurance rate. It will most definitely matter if / when the car is turbo or supercharged. When I bought my 1991 MR2 (it was 1999, and I was 46 at the time with good record) the very first question they asked me: "it's not turbocharged is it? That makes a difference." Estimated cost to repair will also be a consideration.
 
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