I would be very interested to hear what insurance premiums EV owners are paying and if they have seen any savings over insurance costs for their old gasoline/petrol vehicles.
While there is no doubt that the EV insurance market is developing, are the cost savings we were promised actually available yet?
State Farm just quoted me $20/month for 30/60/25 with comprehensive and uninsured motorist on the Think (3rd vehicle on policy).
I insure my 2007 Gem e2 on my auto policy as a 2nd. car issued by Hartford (AARP rates). The Gem is covered for 250/500 Bodily Injury and 100,000Property damage, Uninsured Mst.100/30010 $100 deductible Comprehensive and $500 Deductible Collision coverage For value of $6,000. Annual cost is $199. Also includes 10,000 Personal Injury protection medical coverage.
Complete coverage $4000 valuation $64 per year Foremost Insurance. Belton Agency in Tavares Floida.
Rodney
[quote=OLD HOUSEBOATER;31667]Complete coverage $4000 valuation $64 per year Foremost Insurance. Belton Agency in Tavares Floida.
Rodney[/quote]
Rodney-Is your Gem Florida state licensed as an NEV? Most states now treat the Gem as being completely NEV compliant. I note Florida has the same law as we have here in Washington state other than Florida also allows a “converted” golf cart to be included provided it has specific equipment. Golf carts are not allowed here under the NEV rules unless they have been built as “street legal”, come with a regular auto Certificate of Title and fully comply with Fed. NEV requirements. My Gem is only one of two NEV licensed in our area. It’s ideal in our 9,000 population community.
You have an Insurance rate that can’t be touched around here for a licensed NEV. If I insured as a golf cart my rate would be $89. per year but “street use” and licensing would be restricted.
Not Licensed,
Tavares is a “Golf Cart Friendly” city. GEM’s are considered Golf Cart’s or ORV’s
[quote=OLD HOUSEBOATER;31669]Not Licensed,
Tavares is a “Golf Cart Friendly” city. GEM’s are considered Golf Cart’s or ORV’s[/quote]
If you decide to License or if the city comes up with some type of license requirement you might want to check with your Insurance agent. Policy wording can change between states but some “golf cart” policies preclude coverage “if licensed for street use”. Florida is way ahead of, even California, in allowing the extensive use of golf carts on the streets. It has something to do with all of us retiree/old timers being voters as well.:thumb:
IF you want to Tag your GEM in Florida they play Gotcha. Real pack of B******'s. Especially if you just bought it and it’s never been tagged before.
Florida has some advantages but it costs a hell of a lot more to live in Florida than it does in Alabama.
ROLL TIDE!!!
Rodney
New member here. First post.
Insurance talk gets my blood pressure up.
Very few if any agents will disclose what uninsured motorist coverage is.
The truth about this scam is…
Uninsured motorist only pay your medical NOT your damage to car.
You can only add uninsured coverage if you have comprehensive:boxing: coverage.
Now, think about this, if you have comp. your insurance company will cover your loss anyways so why pay twice for the same coverage.
Now NONE of us should cover a GEM with anything but liability.
Our cars are only worth $4000. any damage will result in a total loss and a check for $2000. from our insurer.
Don’t let them get over on you…
[quote=wentbig;31675]New member here. First post.
Insurance talk gets my blood pressure up.
Very few if any agents will disclose what uninsured motorist coverage is.
The truth about this scam is…
Uninsured motorist only pay your medical NOT your damage to car.
You can only add uninsured coverage if you have comprehensive:boxing: coverage.
Now, think about this, if you have comp. your insurance company will cover your loss anyways so why pay twice for the same coverage.
Now NONE of us should cover a GEM with anything but liability.
Our cars are only worth $4000. any damage will result in a total loss and a check for $2000. from our insurer.
Don’t let them get over on you…[/quote]
With over 40 years of experience in the Legal/Insurance fields I suggest you need better answers on your insurance coverage. UIM can/does include Property Damage to your vehicle along with the Bodily Injury if the other (at fault) driver is un/under insured, the amount can be included as your choice. It can be carried regardless if you have Comprehensive or not You might get a better understanding by reading this section of your policy. Also, have you considered changing Agents?. Policies can be written for “Stated or Declared Value Amount.” Value on our Gem Cars can vary due to the extra equipment you might have on it as well as the age. I insure my 2007 e2 at a value of $6,000 as it has 2 year old Gem Gel batteries, hard doors, upgraded wheels and factory heating system along with a Golflinks attachment. I just have to be prepared to show how I arrived at the value in the event of damage.It is evident you are upset with Insurance companies and might have had some bad experience with them but the advice you are passing along isn’t entirely correct and would be a bad call for any of us to follow. I would be more than happy to respond to you or anyone else with more Legal/Insurance questions if you wish to send me a PM. It may not be appropriate to take up a lot of space in the Forum for debate but I am game to help out.:thumb:
Sir, thanks for the information.
I agree my comments weren’t 100% accurate. My beef is with California agents that do not tell a person if they have comprehensive they do not need to duplicate coverage.
The typical auto policy of $900. will have an add of $150. For the UM that you do not need. IMO this is dishonest.
Again thank you for speaking up.
[quote=wentbig;31678]Sir, thanks for the information.
I agree my comments weren’t 100% accurate. My beef is with California agents that do not tell a person if they have comprehensive they do not need to duplicate coverage.
The typical auto policy of $900. will have an add of $150. For the UM that you do not need. IMO this is dishonest.
Again thank you for speaking up.[/quote]
wentbig-If you will click on “dcannow” then “send personal message”, give me your email address and I will send you a brief explanation on the sections of your Insurance policy. Basic coverage language for California policies are the same as here in Washington so the format will make a little more sense to you. Dealing with Insurance wording can be as bad as dealing with the IRS so feel free to contact me.
Would members find it benficial if I was able to secure a discount on GEM/NEV insurance premiums for members? If so I will approach some US insurance companies to begin with and then look at other markets around the world such as the UK.
I look forward to your comments.
[quote=EvForum;31692]Would members find it benficial if I was able to secure a discount on GEM/NEV insurance premiums for members? If so I will approach some US insurance companies to begin with and then look at other markets around the world such as the UK.
I look forward to your comments.[/quote]
I am inclined to suggest that Gems, and other NEVs, Licensed or not should be treated just like an automobile for Insurance purposes. For this reason they should be insured with the same company that insures the rest of the family vehicles. Auto insurance, for the most part, can be “standardized” for off the shelf purchase. In the many instances where non-standard exposures exist there becomes the need to work through a qualified Broker/agent to make sure there are no unknown gaps in coverage. It could be the Broker/Agent might suggest the use of different companies for each vehicle but in doing so can fill the gaps for exposure.
The Liability lawsuit has become a matter of normal result and should be treated with caution when attempting to insure against it’s defense. I have seen large property losses and Liability judgements entered because someone had not purchased proper coverage. My conclusion would be that any premium savings would be minimal when measured against the responsibility of trying to be your own Broker/Agent. I am again identifying myself as having been involved in the Legal/Insurance professions for over 40 years hence will accept any judgement that I may be biased on this subject.
In our area Florida
GEMS can be designated an LSV/NEV or a Golf Cart.
Performance is limited to 19.5 MPH and certified. No tag no title required. BIG difference in insurance and avoidance of registration and tag fees.
Florida registration and tag fees are insane.
Most ATOMIC’s are crippled to 19.5 MPH and sold as Golf Carts with BOS - no title.
Rodney
Our insurance company (Travelers) has yet to give us a price for coverage on ours after two weeks now. Other companies we called won’t cover it. Anyone in Tennessee have insurance yet?
64 bucks a year in Tavares Florida
Rodney