S2000 Talk Discussions related to the S2000, its ownership and enthusiasm for it.

Insurance Woes

Thread Tools
 
Old 10-19-2004, 10:21 AM
  #1  

Thread Starter
 
rworne's Avatar
 
Join Date: Mar 2003
Location: San Fernando Valley, CA
Posts: 3,962
Likes: 0
Received 7 Likes on 6 Posts
Default Insurance Woes

I just looked up the IIHS (Insurance Institute for Highway Safety) website to see how the S2000 was faring. The reason why is that my insurance is up for renewal in a month or two. Last year, my rates went up ~50% or so with no tickets or accidents. Subsequent biatching on my part got the hike lowered to 25% or so. I guess the insurance company is going to try to make all that back and more in November.

Anyhow, 100 is considered average, less than 100 is better, more than 100 is worse. See the charts to see why I am concerned.

Honda S2000 1999-2001

Injury: 57
Collision: 97
Theft: N/A (not enough data)
Chart: http://www.iihs.org/vehicle_ratings/ictl/p...s/ictl_0902.pdf

Honda S2000 2000-2002

Injury: 61
Collision: 183
Theft: 253
Chart: http://www.iihs.org/vehicle_ratings/ictl/p...s/ictl_0903.pdf

and the Honda S2000 2001-2003 results:

Injury: 79 (12th or 13th best)
Collision: 194 (4th worst, after 911, 350Z, Jaguar Xk)
Theft: 449 (highest in sports car class, nearly matched by the Corvette) The odd thing about theft is that the S2000 was the worst car overall on the list, surpassed only by the Lexus LX (499), and the Escalades ( 1086, 1124, and 2061 )
chart: http://www.iihs.org/vehicle_ratings/ictl/ictl_0904.pdf

You can find the charts here:
http://www.iihs.org/vehicle_ratings/ictl/ictl.htm

I'm pretty much guessing that the theft results are from claims for slashed tops (vandalism) and stolen seats/HIDs & lights. Collisions... well reading this board over the past two years tells me where that number came from.

So to those of you who thank others for raising their premiums, you were right.
Old 10-19-2004, 10:41 AM
  #2  

 
wing's Avatar
 
Join Date: Sep 2003
Location: Ottawa
Posts: 7,620
Likes: 0
Received 1 Like on 1 Post
Default

Interesting, I'm assuming those numbers are calculated based on the number of S2000's out there.

Therefore, if there are a small number, than those numbers can be more skewed than higher numbers.

IE: 1/10 is 10x worse than 1/100 but considering the lower number you also have to take into account claim rates will be lessened for the vehicle.

Whatever, insurance companies are out to scam.... and from your data it seems like accidents and claims climbed up unporportianitly with number of cars.

When they sold 100 only 1 car was total, but when they sold 200, 20 cars were totalled.

Interesting, very very interesting.
Old 10-19-2004, 11:04 AM
  #3  
Registered User
 
aggie's Avatar
 
Join Date: Oct 2002
Location: Houston
Posts: 932
Likes: 0
Received 0 Likes on 0 Posts
Default

This is bad news. A stolen S2000 insurance claim will cost 4.5x more than average. I have trouble understanding the increase from previous years.
Old 10-19-2004, 12:39 PM
  #4  
Registered User
 
TrueDrezzer's Avatar
 
Join Date: Sep 2002
Location: N
Posts: 871
Likes: 0
Received 0 Likes on 0 Posts
Default

yikes and an Escalade 20x the average claim amount!

That's a problem with wearing all your money on your car I guess.

///Robin
Old 10-19-2004, 03:29 PM
  #5  

Thread Starter
 
rworne's Avatar
 
Join Date: Mar 2003
Location: San Fernando Valley, CA
Posts: 3,962
Likes: 0
Received 7 Likes on 6 Posts
Default

Originally Posted by TrueDrezzer,Oct 19 2004, 01:39 PM
yikes and an Escalade 20x the average claim amount!

That's a problem with wearing all your money on your car I guess.

///Robin
I found these links via an article that states the Nissan Maxima and Cadillac Escalade were the most stolen vehicles.

Pretty damn scary. The Maxima wasn't so bad, the Escalade OTOH, was out of the ballpark. The article said that they were mostly stolen for the bling people put on them, not for the vehicle itself.

I don't see many reports of stolen S2000's here, probably about 3 or 4 mentioned (mostly in SF, one in FL). Most of the issues I read about were stolen seats and one in AZ that was stripped.
Old 10-19-2004, 03:54 PM
  #6  
Registered User

 
dreamcation's Avatar
 
Join Date: Oct 2002
Location: Huntington Beach, CA
Posts: 23,233
Received 5 Likes on 1 Post
Unhappy

I've only read of one stolen S2000, which was a show car that got stolen while the owner was in the hospital for something serious. Something tells me that there's some jacking involved with some of these numbers, at least with the stolen numbers
Old 10-19-2004, 04:44 PM
  #7  

Thread Starter
 
rworne's Avatar
 
Join Date: Mar 2003
Location: San Fernando Valley, CA
Posts: 3,962
Likes: 0
Received 7 Likes on 6 Posts
Default

Originally Posted by dreamcation,Oct 19 2004, 04:54 PM
I've only read of one stolen S2000, which was a show car that got stolen while the owner was in the hospital for something serious. Something tells me that there's some jacking involved with some of these numbers, at least with the stolen numbers
Someone had a Monte Carlo Blue stolen and stripped last year from a parking lot. Since it was custom painted, it may be another one.
Old 10-19-2004, 05:30 PM
  #8  
Registered User

 
PilotKD's Avatar
 
Join Date: Dec 2003
Location: South Jersey
Posts: 2,432
Likes: 0
Received 0 Likes on 0 Posts
Default

This is nationwide? For example, why should I pay a higher premium in North Dakota when 75% of the S2000's are stolen in CA (hypothetically speaking, but probably close... hehe)??
Old 10-19-2004, 05:50 PM
  #9  
Registered User

 
dreamcation's Avatar
 
Join Date: Oct 2002
Location: Huntington Beach, CA
Posts: 23,233
Received 5 Likes on 1 Post
Default

[QUOTE=PilotKD,Oct 19 2004, 05:30 PM] This is nationwide?
Old 10-19-2004, 06:35 PM
  #10  
Registered User
 
allkingz's Avatar
 
Join Date: May 2003
Location: Denver
Posts: 2,985
Likes: 0
Received 0 Likes on 0 Posts
Default

So in other words, be careful out there.
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
J Roman
S2000 Talk
8
10-17-2005 03:31 PM
Bass
New England S2000 Owners
14
07-24-2004 04:51 PM
s2k_PikeStyle
Mid-Atlantic S2000 Owners
17
04-25-2004 01:23 PM
airgate
S2000 Talk
61
03-31-2003 09:46 AM



Quick Reply: Insurance Woes



All times are GMT -8. The time now is 10:20 PM.