Insuring a Lotus

When it comes to exotic, aggressively styled sports cars, it's tough to beat Lotus. This premium car brand is famous for the bold styling and exceptional performance of its top-notch fleet. As a British automaker, the brand isn't commonly found in the United States. Furthermore, the company isn't known for producing mass quantities of its vehicles either. Instead, it is committed to producing sports cars that are of the utmost quality and design. Of course, such attention to detail comes at a price. These machines are anything but cheap. You will have to fork over a big chunk of change to get your hands on one, and you will have to pay dearly to maintain auto insurance on it as well. With that being said, there are no official numbers out there about the average annual cost to insure these cars. However, you can rest assured that your monthly premium would be rather exorbitant.

The Introduction of Lotus

The company was started up in 1948 by a Brit named Anthony Colin Chapman. Chapman was a racing enthusiast, and he wanted to produce the kind of car that would meet and exceed his exacting specifications. The company was officially founded in 1955, and it was called Lotus Cars Ltd. One of the most innovative things about these cars was their lightweight design. Although they weren't the first automobiles to use fiberglass, they were the first to feature fiberglass skins and skeletons. As a result, they were exceedingly lightweight and exceptionally nimble. Through the years, the company has maintained its edgy style and focus on performance. GM took full control of the brand in 1986, and it changed hands several times since then. Today, it is owned by a Malaysian firm.

These Vehicles aren't Stolen Too Often

There are very few Lotus models on the road at any given time. As a result, they don't appear on the lists that are compiled by the National Insurance Crime Bureau. These top-ten lists highlight the most frequently stolen models in the United States. As exotic as these cars are, their owners are sure to keep them locked away and out of sight. As a result, theft rates don't play a role in the exorbitant cost to insure the average model.

Safety is Not the Top Priority

By loading a vehicle up with today's best safety features, an automaker has to reduce its overall performance. Performance and speed seem to be top priorities, so the company doesn't worry too much about adding a lot of safety features. Crash test ratings are not available for these vehicles like the Elise, Exige and Evora. People don't buy these cars to stay safe, at any rate. The fact that safety is not a priority also increases the risk of insuring these rides.

Expensive Cars are Pricey to Protect

To look at the average model, you would assume that it was extremely expensive. They are not cheap, but they aren't the most expensive cars in the world either. The Elise convertible has an average MSRP of around $55,000, which isn't too bad. The Evora coupe has an average MSRP of $73,000, which is beyond the reach of most everyday people. The average price of one plays a huge role in how expensive it is to cover one.

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