I received my new policy for the year 2003 and the insurance company happily increased my premium by $400! The reason (they claim) is because the S2000 has been scored from a 19 to a 22! A Corvette ranks in at 20 - 21, but our beloved S2000's are sitting at 22. Reasons stated by my insurance company was:

• High Theft Rate
  
• High Vnadalism Rate
  
• Expensive to Repair

So, this equates to an additional $400, or $200 every 6 months (obviously).

When I think more about it, it's only $34 additonal per month, but damn! How much more do I have to pay for coverage. BTW, the insurance company is Traveler's. I've had them for about 5 years now and they also have my home and life under their umbrella.

Wonder if the recent on-slaught of S2000 accidents by folks making poor decisions has helped the score increase. That was sarcasm.

 

Hmm, I just got my Geico premium and it didn't go up at all. Not complaining

 

I switch to Geico because State farm tried to raise my rates. I pay twice as much for my vette as I do for my s2000.

 

My 01 S2000 insurance is 72% (28% less) than the insurance was on my 00 'vette convertible. A BMW Z3 3.0l would have been about 58% of the cost (for some reason the Z3 is cheap to insure). I am with State Farm and I am an "old fart".

I saw a list someplace of convertibles and the insurance rating - the S2000 was near (or at) the bottom of the list (yy claims per xx cars). I figure the only reasons I saved money is that the replacement costs (MSRP $32k VS $50k+) is a lost less and 4 cyl VS V-8. I think the Miata was at the top of the list - most folks who have Miatas just don't tend to wreck them

Dennis

 

What company ???? Time for a Bann !!!Thats who I have and no increase as of now

 

I've had Geico all along for my Subaru and for my renter's insurance (and for all previous cars) - I got my S in August so it was pro-rated, but I just received my renewal form yesterday and it did not seem to have gone up... I'd have to check the actual figures that I wrote down in august, but if it did go up, it is approximately $50/year ($25/6 months) but I don't think it did. Of course, I get a 2 car discount too (and a 5 year good driving record). Usually Geico costs a little bit more than other insurance co's, but the quality of service I get from them (in the two instances I was in an accident that wasn't my fault) is more than worth it. - btw I'm 29.

 

I'm with State Farm and the same thing seems to be happening right now; latest Premium notice (aarived last week) up 29% for my 2001 S2000. This is with no claims, and everything I own insured with State Farm. I think the guy above with GEICO slipped in under the wire; I see this insurance issue as becoming very big going forward. We can comapre to other vehicles all we want, but I purchased the S2000 with certain assumptions about what it would cost to insure. Those assumptions, for whatever reason, are now proving wrong.
Bummer; this insurance issue has me seriously considering selling my S2000 one year early. Too bad really, but insurance problems have sunk sales of many great roadsters in the past, and I'm afraid it might be happening to our S2000. Hope I'm wrong.

 

Airgate, the reasons that Travelers gave you for the increase are only proximate factors. All insurance companies had to make a 12% increase due to new regulations and so forth. As Dan stated Geico's premium has not gone up because they got their increase in months ago at 6% and then 6% again. Most other large companies sat back and waited. Now the increase must be implemented due to a time restriction so everyone is feeling the hurt. Well, except for Geico.

 

Hmm? One of the factors in deciding on the S2000 vs a 350Z was $ 200 per year cheaper INS (State Farm). I will need to keep an eye on the premium notices.

George

On the other hand Progressive wanted 2X what State Farm charges..

 

Man that sucks. I just renewed, NO increase and it still costs me less than $40 bucks a month to insure my S