Guide to Buying Lotus Exige Insurance for Less
If finding cheaper car insurance was fun, we'd make the time to do it regularly. But most likely we pay more than we want to and don't really enjoy the buying process. Finding affordable insurance for your Lotus Exige is probably the same story.
Step One: Compare Apples-to-Apples Quotes
The old way of buying car insurance was to make multiple trips to various local agents and get strong armed into a policy that didn't necessarily fit you. Welcome to the NEW way to buy car insurance!
You can now shop all the best car insurance companies and compare rates for a Lotus Exige and you don't even have to visit each individual website!
Simply click the link below to start a quote that will compare rates from many companies and you may find a lower rate than you're currently paying.
Use the Same Coverages! It's really important that when doing multiple quotes for your Exige that you use identical coverages for liability, comprehensive and collision. If you use different values, it's impossible to determine which company has the lower rates.
Step Two: How to Lower your Exige Insurance Premium
There are many factors that actually determine what you will pay for insurance, and some are completely within your control.
- Vehicles that are considered high performance will have a higher insurance price tag that your average family sedan. The Lotus Exige is no exception.
- Members of many professional organizations can receive discounts on car insurance, and if you're a senior citizen, that could earn you an additional discount.
- Exige replacement parts are more expensive due to the quality of the parts, so you can expect your physical damage rates to be higher to reflect the higher cost of repair.
- If you have a high credit score, you will be rewarded with lower insurance rates. Conversely, if your credit rating is on the low site, your rates will be higher.
- Even if you don't take advantage of the sporty nature of the Exige, other people will and you'll pay more for insurance based on the higher rating class of the vehicle.
- The time it takes to complete a driver's safety training course could be time well spent. It could save you up to 10% off your car insurance rates.
- Safety features such as antilock brakes, traction control and air bag systems all help reduce the cost of car insurance by keeping the passengers safer.
- You can save money on your physical damage coverage (comprehensive and collision) by increasing your deductibles. Higher deductibles mean you are willing to pay more before the insurance company covers a claim.
- If your Exige ranks on the list of vehicles that are frequently stolen, that can result in a higher rating class and a more expensive rate.
- Smaller claims that hardly exceed your deductible are better off not being filed with your insurance company. Policyholders with no claims enjoy lower rates than those who frequently file claims.
- If you are a renter rather than a homeowner, you might pay a little more to insure your car. Owning a home takes financial repsonsibility and insurance companies reward those policy holders.
- A lead foot will result in higher insurance rates. Slow down, don't get tickets and you'll pay less.
- If you're a young driver, you will pay more to insure a Exige. There isn't anything you can do about your age, but rates will drop as you mature.
- Having any gaps in coverage (known as a lapse) is bad in the eyes of any insurance company. Make sure you keep coverage in force at all times by synchronizing the expiration and effective dates of your policies.
Step Three: Finalize your Car Insurance Policy
Choosing a new car insurance company is not easy. But hopefully you have a handful of quotes for your Exige that will give you a good idea of how much it will cost, as well as some idea of any coverage changes you may want to make.
An important thing to keep in mind when buying a new policy is you want the effective date of the new policy to be the exact same as the date you are cancelling your old policy.
If the Lotus Exige is a new purchase and you haven't had car insurance before, make sure you have coverage in place before driving off the lot. If you have other vehicles already covered, then you will have coverage for the new vehicle. Your existing car insurance policy will give you some coverage if you buy a new or used Exige, but unless you are already paying for full coverage, you won't have it until you add the vehicle to your policy.
Once you have purchased your policy, print out the insurance card that must go in your vehicle. This card fulfills the state law requiring you to prove financial responsibility. Depending on your state's statutes, you may be required to file an SR-22 form if you've been convicted of an uninsured accident, DUI or license suspension. Make sure your new company is aware of this requirement and files it promptly.
More Educational Resources
The Insurance Information Institute website has a great library of car insurance topics that cover claims, replacement parts, rental cars and more.