By going with a different auto insurance company than my previous one, I'm able to save a little over $100/month on my Evo coverage.

It's 'cause a previous minor accident wasn't on my DMV report, and also because this company doesn't have the Lancer Evolution in their database. I answered questions about the car truthfully (4 door, 4 cylinder, etc.) and I gave the VIN of my Evo (which I thought would also reveal that a higher insurance rate was warranted).

I do feel a bit shady...but it's not like I wanted to ask the lady if I could please pay more

So now I have a nice monthly insurance payment...but will this come back to haunt me? If I do actually need the insurance to pay for something can they deny me coverage? I don't plan on ever needing insurance (don't we all?), thus I'm happy with the lower payment...but am I only hurting myself?

Any experience/insight/knowledge would be great!

 

They'll figure it out sooner or later, believe me. I know mine did. I enjoyed some pretty low insurance rates untile they called me one day explaing how their data base had been up-dated, and politly explained how my car fell into a higher risk catagory now that they had "new info" on my car. So enjoy it while you can and hope when they do figure it out that your rates are not higher than they were to begine with.


BTW..They cannot deny you any insurance claim as long as you gave them the info they asked for: VIN, engine size, how many doors,etc...etc..

 

Yeah... enjoy it while you can. If they don't have the Evo in their Dbase, it's their issue. If they update it, it's your issue. When I got financing on my car, the CUnion lady said "the Lancer ain't worth no $30000!" and I politely explained that it's no ordinary Lancer. In your case, however, that ignorance is a blessing!

 

Thanks for the warning guys...hopefully the Evo will stay a secret for a while. And hopefully I won't bring any attention to myself either. I'm pretty excited to pick up my car tomorrow though.

I just hope the finance person at the dealership doesn't clue my insurance company in tomorrow when they exchange info...

 

Ask the guy in KY about that. He totaled his EVO and his insurance company wanted to pay off the car... to a tune of 17K. He still owed 27K on it. BECAREFUL!

 

When I first insured my car about 10 months ago the Evo wasn't in my agent's database. I did carefully cover the purchase price and replacement value of the Evo, and still managed an inxepensive rate. However this time around I'm expecting to my rates jump quite a bit.

The same thing is happening to SRT4 drivers, too. My roomate was considering one until he checked the insurance cost. His insurance would have rivaled his payments. The agent told him if had bought the car 3 months earler his insurance would have been half the current rate.

 

Very true!!! I have heard this many times. I don't think it is the insurance's responsibility but it is yours to make sure they have the right car. They will only pay you blue book value or market value of a Lancer if your car is totaled....since that is what you have really bought insurance for.

 

I made sure my agent knew what car the Evo was. He searched his database and found the turbo lancer awd Evolution. My insurance paper says Evolution on it. But still I pay about $1000 less than my previous car, Acura Integra GSR.

 

I wonder when isurance companies will begin to ask not only about engine size, but also about the presence of a turbo.

 

When I insured my Evo here in So Cal I had to produce a copy of the sales contract where it specifically states the purchase price. So even though they didn't have the Evo in their database at the time, it was insured along the lines of a Lancer ES valued at 30k.

I asked the insurance agent about this, and was informed that 30k is on record as being teh value of the car and so if anything happened I would be entitled to receive up to that value if the car was wrote of etc.

 

Well my rate has gone up lately. Initally the EVO was correctly listed and the rate was low but now that the model has some history (we've all read the werck threads and reports of tickets) the insurance companies have better data on claims and costs. We all know that this car is expensive to fix and now the insurance companies know as well. Hopefully the rates will stabilize now the insurance companies have a history on the car.

 

Always get GAP insurance

 

Is there such a thing as gap insurance if you pay cash for the car?

And to those saying their insurance was quoted $1000 less. Wow, that was about the quote I received from Geico for my yearly premium ($1100), and that sounded high to me.

 

Gap insurance pays the diff between your loan and what the car is worth. I paid 500.00 for Gap at the time of purchase.

Go with State Farm Ins. They do not care about HP only value of the car

I pay 110.00 month for full coverage w/ 1 speeding ticket

 

You could have paid $1 for the car, it doesn't matter. What matters is its prevailing retail value.