Cost to insure S2000

"yitznewton" (yitznewton)
10/28/2015 at 15:07 • Filed to: the more you know, insurance

In case you were wondering, I just quoted a financed 2005 S2000 against a financed ND Miata with my carrier (GEICO): the Honda was $292 more per year for me.

DISCUSSION (24)

SidewaysOnDirt still misses Bowie > yitznewton
10/28/2015 at 15:21

My ratty AW11 MR2 with minimal coverage is only $100 cheaper per year than my brand new BRZ. Explain that one. I’ve already paid way over its value in insurance.

Wrong Wheel Drive (41%) > yitznewton
10/28/2015 at 15:22

Wonder what the reasoning was for the difference? I would think the new vs used car would be the determining factor. Did you try a 2005 Miata (NB) with the same mileage? I could also imagine theft rates, accident rates (snap oversteer being more common with the Honda), and rarity playing a role in the higher rate too.

Steve is equipped with Electronic Fool Injection > yitznewton
10/28/2015 at 15:26

Power/weight ratio, replacement part cost, and vehicle value all factor in to the cost of comprehensive and collision coverage. Safety features like stability control as well as demographics (disguised as model loss history) factor into the cost of liability insurance. So you know - a brand new Miata is often purchased by older, more responsible people as a weekend toy while a 10-year-old sports car can be bought by much younger and less risk-averse people.

nerd_racing > SidewaysOnDirt still misses Bowie
10/28/2015 at 15:28

Do you have comprehensive on the AW11? I think mine is just state minimum liability because they would total it out if I got keyed even :(

Ash78, voting early and often > yitznewton
10/28/2015 at 15:28

Partial losses (theft, minor accidents, etc) are almost always the driver of cost with older cars. I’d expect the S2000 to continue increasing in rates, while the ND stays pretty flat due to commonness.

People tend to think all the modern safety gear helps reduce insurance rates a lot, but ironically the cost of repacking all those extra airbags can sometimes offset their usefulness in life saving. Just from a financial perspective, naturally.

SidewaysOnDirt still misses Bowie > nerd_racing
10/28/2015 at 15:36

Nope. State minimum. It was funny when they were doing the safety questionairre. “Air bags? Antilock brakes? Blind spot monitoring?” and a whole bunch of other “Nope. It has seat belts. That’s it” questions.

nerd_racing > SidewaysOnDirt still misses Bowie
10/28/2015 at 15:38

and a passenger mirror!

nerd_racing > SidewaysOnDirt still misses Bowie
10/28/2015 at 15:38

Mine even has start stop technology. I come to a stop and it shuts off...

SidewaysOnDirt still misses Bowie > nerd_racing
10/28/2015 at 15:39

I need to put the horn back in before moving to New York to pass inspection even though the engine’s louder than it.

SidewaysOnDirt still misses Bowie > nerd_racing
10/28/2015 at 15:40

Mine’s presently ZERO emissions!

nerd_racing > SidewaysOnDirt still misses Bowie
10/28/2015 at 15:41

What part of NY? My horn is zip tied on... lol

nerd_racing > SidewaysOnDirt still misses Bowie
10/28/2015 at 15:41

non-operational?

SidewaysOnDirt still misses Bowie > nerd_racing
10/28/2015 at 15:42

City. I’m going to be up there for most of November looking for a job and making contacts, but I don’t think I’m going to find the one I’m looking for that quickly because what I do is pretty specialized.

SidewaysOnDirt still misses Bowie > nerd_racing
10/28/2015 at 15:42

Yep. Soon, though. Figured out the parts issue, so just finishing it up now. The SV3 guy’s going to fab up something for my HKS header.

nerd_racing > SidewaysOnDirt still misses Bowie
10/28/2015 at 15:44

Best of luck to you man, I’m more Buffalo area.

nerd_racing > SidewaysOnDirt still misses Bowie
10/28/2015 at 15:46

mmm a header would go great with my stainless exhaust... I’ve been eyeing up blacktops just in case my head is warped when I go to change the head gasket. I’m going to do a full engine gasket redo. I’m buying a kit, except the head gasket, going with an OEM toyota one for that.

SidewaysOnDirt still misses Bowie > nerd_racing
10/28/2015 at 15:49

I’d go with the TRD HG instead of OEM. It bumps the compression up a bit more for MOAR POWAR! Once Charlie’s back on the road, I’m going to start looking at the old 16V. If it’s salvageable, I’m thinking about attempting the over-9000 rpm twin charged build.

Dr. Zoidberg - RIP Oppo > yitznewton
10/28/2015 at 15:54

I didn’t get a chance to price the Vibe with Geico, but with Allstate, it is significantly cheaper to get full-coverage insurance on my wife’s Vibe than it is to get liability only on my pickup worth at most 1/4 of the value.

Meanwhile when I had Geico, I paid $27 dollars a month to get liability on the Tercel.

haveacarortwoorthree2 > SidewaysOnDirt still misses Bowie
10/28/2015 at 15:56

Is your MR2 old enough to switch over to classic car insurance? Usually a mileage limitation but a lot cheaper than normal insurance (or at least has been for me).

gin-san - shitpost specialist > SidewaysOnDirt still misses Bowie
10/28/2015 at 15:59

Being the US, I’m not familiar with regs, but does the insurance company cover your injuries if you’re injured, even with the state legal minimum? Here in Ontario, even with provincial minimums, you’re still covered for medical/rehab and other things if you’re injured, and this plus liability makes up most of an insurance premium - typically, for old vehicles like an AW11 (which is basically a 30 year old car, or pretty close, right?) they are going to have next to no payout value so even if you had collision/comprehensive/whateveryoucallitinyourstate it adds almost nothing because it’s pretty much guaranteed it’ll be written off instantly if anything happens to it.

If the insurance company doesn’t cover your injuries, then yeah I have no idea why it’s such a small difference between your MR2 and BRZ.

yitznewton > Wrong Wheel Drive (41%)
10/28/2015 at 16:10

I would guess exactly that: it’s on record for being frequently crashed and top-slashed-seats-stolen, or stripped. And the top + seats alone is over $10k apparently.

Michael Cohen > yitznewton
10/28/2015 at 16:53

I wonder if it make more sense to get the S2K with liability only. The top is like $1000 installed and used seats on eBay are about that too.

SidewaysOnDirt still misses Bowie > gin-san - shitpost specialist
10/29/2015 at 07:02

Yeah, I figured it was because of something along those lines. I’ll have to look into exactly what coverage I have. I’m pretty sure it’s solely other party damage and medical, which is funny considering that it’s not going to do much damage to anything else.

SidewaysOnDirt still misses Bowie > haveacarortwoorthree2
10/29/2015 at 07:03

Soon. In Florida it has to be 30 years old, but in New York it’s 25, so it would be a classic there.