How do young drivers get insurance on supercars

[ColtonJD91]

Immunnics... how far have you fallen to prove our beliefs by tolling our forum... Sidewalker.
I'm curious what you find out CEBenz. I checked my comapny (esurance) and they said I was un-insurable for an exotic lol. I'm young and less than perfect on my driving record tho. I'd assume millions would be accurate for the Beiber example, however, I have no data to back that up. I can't even name one of his songs... let alone his expenses.

 

[CarrieW]

insurance rates vary from place to place also... what it may cost me to insure something here is not what its going to cost in new York or California... (I pay less for full coverage on a brand new car than liability cost me in pa)

that said. what kind of insurance are we talking? are we talking a paid for car or a financed one? this stuff makes a difference in what you have to provide as far as insurance...

all that is required if you own the car outright is basic liability. (to fix the other persons car) and if it is financed you have to have enough insurance to pay off the loan. (or enough for value and a gap policy for the difference) remember it goes down in value the moment the title is transferred into your name. so it is never worth what you paid until it starts to appreciate (rare for cars but possible for classics an exotics I suppose)

what your probably talking about is your collision portion of your own policy or underinsured or non insured if someone hits you, or if you are at fault. that's where it gets expensive. again depending on if you own it or its financed this portion is negotiable.

in order to compare prices properly you have to have all the same numbers and coverage amounts

curious to know what was found out by the op

 

[Guest14692]

1. It's possible that esurance just isn't an exotic car underwriter. Companies like Hagerty or American Modern have taken control of that niche. Exotic rates are usually cheaper, relatively speaking of course.
Exotic/Classic/Antique Cars are
A. Better maintained
B. Driven less than traditional cars
C. Depending on the rider, aren't even covered when taken off your premise and not occupied. With most policies, if you leave your exotic car overnight at a hotel for example, aren't covered and any perils during that time are on you.

For that reason rates CAN POSSIBLY cheaper and if you are an agency, good luck making a profit on such a lower premium/commission.

2. As much as Justin Beiber deserves to fall down a flight of stairs, I just heard a song from him called All That Matters, and it has one of the tightest guitar riffs I've heard in awhile. I suggest you check it out. I also suggest that Beliebers still catch on fire.