I just received my insurance bills for next year (Germany) and the S2000 rates are more than 25% higher due to statistics pushing the car into the 3rd highest risk class (32 out of 34). It's now more than any BMW or Porsche except the GT3. The rates went up 5% for 2003, but I had gotten 5% discount for an extra year no-claims bonus, but now these guys are really pushing it. I'm 25, and even with a garage, 8 years-no-claims (50% discount), strict restrictions on kilometers, drivers, and 1000 EUR deductible, it's close to 3000 EUR/yr. Of course the insurance company recommends dropping collision coverage for cars older than 3 years. However, after an Armco incident earlier this year, there's no way I'll drive this car without the full coverage. I really got lucky back then, and it's so easy how a piece of art turns into a million pieces of broken, smoking metal and plastic.

Basically I'll be paying all that money and it's really only worth claiming when the car is a total loss. Vandalism is actually covered by the "collision" portion, so I basically won't even have keyscratching insurance. Plus, the value of the car drops every year of course, and so the increasing % of the car value I'm paying as the yearly insurance premium really gets rather insane. It went from 8% of car value to now nearly 18% and will just get worse in the future.

So as you probably guessed by now, I'm considering selling the 9000rpm monster Nothing serious yet, as it'll probably be best to sell a roadster in the springtime anyway, but I just talked for several hours with some people about this last night and wanted to hear what you think as well.

I love this car to death, and it's by far the most fun, reliable, and technically amazing car I've ever driven, but it comes at such a high price that it just doesn't make financial sense at this point in time.

Anyway, let me know what you folks think or if you think there's something really faulty in my logic or whatever. Have a nice weekend everyone!

///Robin

 

I just went through this debate myself. My insurance was costing me more than the car. I was on the verge of selling it before I checked around and found an insurance company that cut the rates more than 50%! Not sure how the insurance system works over there but if that is an option you may want to consider it. Viel Gl

 

Thats a tough one.
Ask yourself if its worth it to you and what is the alternative. Sorry if you have to sell it. It seems like you having a lot of fun with it.

 

It is tough. I'm spending $4k+/yr just on the S for insurance. I'm just gonna find another insurance carrier since selling isn't even an option for me.

 

Look, I love my S2000 but spending that much on insurance is stupid. Sell. You could probably find something that cost 1/3 or less to insure but would provide you with 75% of the fun of an S2000

 

[QUOTE]Originally posted by Pop^Top
I just went through this debate myself. My insurance was costing me more than the car. I was on the verge of selling it before I checked around and found an insurance company that cut the rates more than 50%! Not sure how the insurance system works over there but if that is an option you may want to consider it. Viel Gl

 

can you get like a beater car to insure.....like a daily driver? i got a 1988 crx and my s2000 incurance went down from 240 a month to 97 and the crx is damn near free to insure....just a thought

 

Or can you raise the deductable? In the US you pay less for insurance with a higher deductable. I'm probably going to insure mine with a $500 deductable on collision & $250 deductable on glass. I could save even more with $1000 deductable.

--Mike

 

I agree. Spend some time thinking of the alternatives. Could you find an equal or lesser car that would bring you as much enjoyment?

I love my S, but if it was such a stretch to own and insure it, I'd definitely consider something else.

 

3000 EUR/yr is $1,800 USD/6 months. That's not too far off from what some people pay here in the states that are in the 18-27 age bracket.