Compare Lotus Car Insurance Rates (2023)
When you compare Lotus car insurance rates to other luxury vehicles, Lotus car insurance costs are closer to the national average. At $144 a month, Lotus car insurance is more affordable than most other luxury brands. Read on for more information about how to find cheap Lotus car insurance rates.
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Joel Ohman
Founder & CFP®
Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...
Founder & CFP®
UPDATED: Jun 29, 2023
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Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jun 29, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Despite being a luxury car, most of the time, Lotus car insurance rates are close to the national average
- Most Lotus car insurance buyers choose to buy full coverage policies, even if they own their car outright
- Although affordable Lotus car insurance rates are not too difficult to find, you can lower your prices even more by finding discounts, trying usage-based insurance, and raising your deductible
How do Lotus car insurance rates compare to other cars? When you think of an exotic luxury car, not many other brands come to mind that fit that description like a Lotus. Founded in 1952, Lotus is known for its lightweight, precision handling and sleek design.
Most luxury cars come with higher insurance rates, but that doesn’t seem to be the case for Lotus cars. Rather than paying luxury car insurance prices, most Lotus owners see rates closer to the national average.
Luxury vehicle insurance rates are higher than regular coverage rates. On top of having lower average rates, there are several other steps you can take to minimize how much you spend on your coverage.
Read on to compare Lotus car insurance rates and learn more about how to maximize your savings, then compare quotes from as many companies as possible to find a policy that matches the quality of your Lotus.
- Lotus Car Insurance
Compare Lotus Car Insurance Rates
Typically speaking, luxury cars have higher insurance rates because they cost more to repair and replace. However, the average Lotus car insurance rates are slightly lower — instead, Lotus drivers pay rates only a little higher than the national average.
The average car insurance for a Lotus costs about $144 a month for car insurance, but several factors affect that price. For example, drivers with low credit scores or traffic violations on their driving records will pay much higher rates for their insurance.
So how does Lotus have such low average car insurance rates? Compared to other luxury brands, Lotus insurance rates are incredibly low. For example, comparing Lincoln car insurance against Lotus, coverage for a Lincoln is more expensive, even though Lincolns usually have small price tags. While there are several reasons why a Lotus has low car insurance rates, one of the primary reasons is that they aren’t often the target of car thieves.
However, you’ll still pay a little more than the national average for your Lotus car insurance. Although it’s cheaper than many other luxury brands, Lotus cars still cost more to repair or replace. Your insurance company has to absorb these costs, which is why you’ll pay more for coverage.
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Types of Car Insurance for a Lotus
Most drivers look for one of two types of policies — minimum insurance and full coverage car insurance for a Lotus. Minimum insurance is the least amount of coverage you can buy in your state and still legally drive. It’s your cheapest option for insurance, but most Lotus owners want more coverage.
A full coverage policy offers your Lotus much better protection. When you buy full coverage, you get the following types of insurance:
- Liability: Liability insurance pays for damage and injuries you cause in an at-fault accident. It doesn’t protect your Lotus, but it does save you from expensive bills. You can compare liability car insurance rates and requirements here.
- Collision: When you have collision car insurance coverage on a vehicle, it pays for any repairs your Lotus needs after an accident, whether you hit another driver or a stationary object.
- Comprehensive: You can’t protect your Lotus from everything, no matter how hard you try. Comprehensive insurance pays for damage caused by unexpected events, like fires, extreme weather, vandalism, theft, and animals. Comparing comprehensive car insurance rates against a policy without this coverage can show you if it’s worth having.
- Uninsured/underinsured motorist: While most states require drivers to carry a minimum amount of insurance, not everyone does. If a driver without enough coverage hits you, uninsured/underinsured motorist coverage will pay for your car repairs and medical bills.
- Personal injury protection/medical payments: Medical expenses can get pricy quickly after an accident. Medical payments and personal injury protection insurance covers health care expenses for you and your passengers.
While a full coverage policy offers relatively complete protection, it doesn’t cover everything. Many Lotus drivers choose to add extra insurance like Lotus gap insurance, new car replacement coverage, and rental car reimbursement to their policies.
How to Save on Lotus Car Insurance Rates
Although Lotus is an exotic luxury car brand, Lotus car insurance rates tend to be relatively low. While there are several reasons for this, one of the biggest is that Lotus cars aren’t often the target of thieves. Just because Lotus rates tend to be low, that doesn’t mean there’s nothing left to save.
If you’re trying to find lower Lotus car insurance rates, consider the following techniques:
- Raise your deductible: Your car insurance deductible is the portion of your insurance you must pay before your insurance pays your claim. If you choose a higher deductible, your monthly rates will be less.
- Try telematics: Most companies offer usage-based car insurance to help safe, low-mileage drivers save on their insurance. You can see significant savings if you regularly practice safe habits.
- Pick the right coverage: Many Lotus drivers are tempted to sign up for as much coverage as possible, but add-ons increase rates. You should only sign up for the coverage you need.
- Find car insurance discounts for a Lotus: Finding a company that offers as many discounts for you as possible is essential in searching for car insurance. Popular discounts include bundling policies, being a safe driver, and paying for your policy in full.
- Keep your car safe: New Lotus cars have plenty of safety features, which help keep insurance costs down. You can save a little more by keeping your Lotus in a safe spot every night. You can even find safety feature car insurance discounts for a Lotus offered in some situations.
- Drive safe: Having traffic violations on your record can significantly increase your rates. Keep your coverage affordable by avoiding things like speeding tickets and DUIs.
As you can see, there are plenty of ways to keep your insurance rates low. It’s always important to compare rates when shopping for coverage, but that’s particularly true for luxury cars. Many insurance companies consider luxury cars riskier to insure, so you’ll likely overpay if you don’t compare your options.
Find the Best Lotus Car Insurance Quotes Today
As an exotic luxury brand, your Lotus deserves the best protection you can give it. Full coverage costs more than minimum insurance, but it’s usually worth it to buy extra car insurance coverage for your Lotus.
Although Lotus drivers pay lower rates than many other luxury brands, there are still plenty of ways to save on your coverage. Before you sign up for a policy, make sure to compare rates with as many companies as possible. It’s the best way to find the right coverage for your Lotus.
Frequently Asked Questions
Are Lotus cars expensive to insure?
Lotus car insurance is typically more affordable than other brands despite being a luxury brand. At $144 a month, the average Lotus driver sees low car insurance rates.
Which auto insurance company has the cheapest Lotus car insurance?
The company with the lowest rates for your Lotus depends on a variety of factors, including your credit score, driving history, age, and location. However, State Farm, Geico, and Progressive often have the cheapest car insurance rates.
How much will car insurance cost for a Lotus MKZ?
The Lotus MKZ has higher insurance rates than average, with drivers typically paying about $157 a month. Even though it costs more to insure an MKZ, it’s still more affordable than other luxury brands.
Are there any discounts available for Lotus Car Insurance?
Yes, there are various discounts that may be available for Lotus car insurance. Common discounts include:
- Multi-Policy Discount: Bundling your Lotus car insurance with other policies, such as home or renters insurance, can lead to discounted rates.
- Safe Driver Discount: Maintaining a clean driving record with no accidents or traffic violations may qualify you for lower premiums.
- Anti-Theft Device Discount: Installing anti-theft devices in your Lotus can help lower insurance rates.
- Good Student Discount: If you have a student driver with good grades on your policy, you may qualify for a discount.
- Mature Driver Discount: Older drivers who have completed a defensive driving course may be eligible for discounted rates.
How can I find the best insurance rates for my Lotus car?
To find the best insurance rates for your Lotus car, consider the following steps:
- Compare Quotes: Obtain quotes from multiple insurance companies specializing in sports or luxury cars.
- Research Insurance Providers: Look for insurers with experience in providing coverage for Lotus cars and check their reputation, customer reviews, and financial stability.
- Assess Coverage Options: Evaluate the coverage options offered by different insurers and choose the ones that provide adequate protection for your Lotus.
- Consider Deductibles: Decide on deductibles that suit your budget and risk tolerance.
- Review Policy Limits: Ensure that the policy limits are sufficient to cover potential damages or liabilities.
- Inquire About Discounts: Ask insurers about available discounts specific to Lotus cars and see if you qualify for any.
Free Car Insurance Comparison
Enter your ZIP code below to view companies that have cheap car insurance rates.
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Joel Ohman
Founder & CFP®
Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...
Founder & CFP®
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.