My 370z as pleasure use only

TongMan

I just bought a 2010 Toyota Prius for my daily commute to work. My 370z will be my sole pleasure fun weekend car. I spoke with my insurance company about any discounts I can get by making the change to my 370z from daily driver to pleasure vehicle and my agent told me that I would only save $47 from my current premium. What's the big idea? I'm going to be putting less than 5,000 miles annually on the Z, but I can't even get a big enough discount. Is it time to change insurance companies?

If your 370z is your pleasure car, how much is your premium?

ImportConvert

My insurance company charges more for "recreational" vehicles than work vehicles. I think it is the fact that the pleasure vehicle is more likely to be wrecked, per their past analysis of claims on "regular" vs. "pleasure" vehicles.

It's all about risk/profit. They could care less how much/where/whatever, as long as it matches their formulas.

BennytheBlade

A Z driven for pleasure probably= a car being driven sporty.

I have a Honda Fit for my DD and the z for w/es. Been about a year, and at
5k miles. I have my family, my bros family, and my parents all on the same insurance w/ all houses and vehicles. We get about as big a discount as you can get w/o being a corporation . Didnt make much difference tho, still pay a huge amount for insuring the z.

Well worth it tho.

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Jessobear

I've always had State Farm and mine is definitely cheaper to insure since I don't have it listed as my daily vehicle. With State Farm, I think the lowest classification is under 7500 miles annually.

ImportConvert

Allstate here. SF offered me a lower recreational rate, but Allstate was still less for the same coverage with just their regular use policy.

Insurance varies a LOT! from state to state.

kenchan

Both my Z and G are under the weekend car coverage. Max I can drive is 7500miles per year per car. Which I will never put on the car. They only see 4K max.

themann1984

I'm a credentialed P&C actuary who worked for one of the large personal insurance companies. So, I'm pretty knowledgeable on this stuff.

If there is a large difference in rating factors between pleasure and work it will encourage people to mis-classify their vehicle so that they can get a lower premium. Remember, this is a characteristic your company can't validate. When was the last time your insurance company checked your odometer to see if your annual miles were what you stated?

If you want to save more money, investigate other companies. Progressive is offering to put a black box in your car to record mileage. If your mileage is low you can get significant discounts. Additionally, you should be receiving a lower price per car anyway since there is now 2 cars and 1 driver.

shadoquad

I've got my Mazda dd and my Z on the same insurance, with the Z on <12k miles per year coverage. I asked what would change if I just sold the Mazda and covered the Z as my daily driver. It was a difference of 20 bucks a month. Discouraging. lol

kenchan

I don't remember wat the difference was but im not paying much for any of my cars.

ChrisSlicks

My insurance company gives a 10% discount if you drive a vehicle less than 5000 miles a year, but you don't get the discount until after you've completed a year of low miles. I have to fill out a form each year with the odometer readings of the low mileage vehicles. They also ask how frequently they are driven to work, so I guess they factor that in as well somehow.

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ClemsonWill

I considered doing the same but my difference was $30. Being that my DD is paid for. It's worth paying the $30 to have an extra car and save the Z from my harsh drive to work.

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ImportConvert

Bad experience with Progressive. Their client rammed my car at a gas-station and they refused to cover ANY damages. He dumped them on every vehicle him and his company owned. Since then, they have been a no-go for me.

shadoquad

Same exact decision that I made.

mick

Here's my 6-month premium with the z as a 'pleasure' car.

John Bradley

State Farm for me, pleasure driver, 309.10 every 6 months with zero deductable too