Compare Lotus Car Insurance Rates [2025]
Lotus car insurance is very expensive because of the maintenance expenses and cost of car repairs. The average cost of car insurance for a Lotus is $144/mo.
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Dani Best
Licensed Insurance Producer
Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...
Licensed Insurance Producer
UPDATED: Nov 13, 2023
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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.
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: Nov 13, 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
- Lotus is designed for racing
- Because of its expense and the high cost of repairs, Lotus insurance is very expensive
- State-required minimum liability requirements will not be high enough for adequate protection
A rare individual purchases a Lotus for daily driving. The brand was begun to design and build race and production automobiles. Originally, Colin Chapman and Colin Dare formed the company as Lotus Engineering Ltd in 1952.
In 1954, the company was split into Lotus Engineering and Team Lotus. Team Lotus competed actively in Formula One racing from 1958 to 1994. The brand is known for the racing performance of its sports cars.
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At present, through a series of bankruptcies and ownership changes which seem endemic to automobile manufacturers, the company is owned by DRB Hicom through Proton. This private limited company acquired it in 1996.
Lotus is still involved in Formula One racing through a series of drivers and automobiles designed specifically for racing.
Currently, the 2013 Lotus Evora is produced for street use. The Evora is available with the following configurations:
- 2013 Evora base MSRP $66,800
- 2013 Evora 2+2 MSRP $68,300
- 2013 Evora S MSRP $77,100
- 2013 Evora S 2+2 MSRP $78,600
Several other models, including the Elise and Exige S are also available.
Reviews of Lotus
The Lotus is a vehicle bought largely for prestige and flash. It drives well, but visibility from the drivers’ standpoint is limited, it’s difficult to get into because the sills are wide.
Purchasing a new Lotus is also difficult because few are made. A used Lotus would be your best choice. Searching for the vehicle on the Internet would be an excellent way of finding a Lotus to purchase.
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Problems with Insuring a Lotus
Lotus is known for the customization of its automobiles, which makes them difficult to repair.
Cost to repair a Lotus are higher than normal because of this factor and also because the Lotus brand attempts to create the lightest vehicle possible, so aluminum is a large component of their cars.
Aluminum is notoriously fragile when used in automobile bodies and engines, so the possibility of damage is higher.
Getting a Quote on Insurance for a Lotus
How much does a Lotus cost to insure? Obtaining an automobile quote online is relatively easy and you should not be charged. Asking for an auto quote will not damage your credit rating or even affect your insurability.
Some companies have underwriting standards that do not allow them to insure a Lotus under a standard insurance policy because Lotus vehicles are ordinarily used for racing.
The company’s website will ordinarily advise you of this when you attempt to get a quote for a Lotus.
Information You Will Need to Obtain an Automobile Insurance Quote
This is standard information required for an auto quote:
- Name, date of birth, and drivers license for all drivers
- Make, model, and year for each vehicle to be insured
- Occupation, address-including zip code, and status of home ownership for drivers
- Credit rating level and education level for each driver
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Limits of Liability for Insurance
Each state requires a certain level of insurance by law. It is possible to determine the statutory level of insurance by calling the State Department of Insurance or by going online to the State Department of Insurance.
The following, though, are suggested levels of insurance for quotes. These levels meet or exceed the statutory requirements for every state:
- Bodily Injury Liability – $100,000 per person/$300,000 per accident. This provides coverage for your legal liability for auto accidents that cause injury to others.
- Property Damage Liability – $50,000 per accident. This provides coverage for your legal liability for accidents that cause property damage to the property of others.
- Medical Payments Coverage – $5,000 per accident. This coverage affords medical payments for you and the occupants of your car in the event of an accident. Use this limit as a quotation limit, but, when purchasing the insurance, consider the levels of insurance you have through your health insurance.
- Comprehensive Coverage – This applies to damage to your own car. Begin with a $500 deductible. The perils that apply are for vandalism, animal damage, weather damage, glass damage, and theft.
- Collision Coverage – This, too, applies to damage to your own car from collisions. A $500 deductible is a good place to start. The higher your deductible, the less the insurance costs.
- Uninsured and Underinsured Motorists Coverage – This provides for bodily injury if you are involved in an accident with an individual who does not have insurance. Statistics indicate that 12.6 percent of drivers on the road do not have insurance.
Because Lotus drivers will often consider using their vehicles in races, it is necessary to check with the issuing agent before entering any type of speed contest.
Insurance policies usually exclude the activity of racing from the terms of coverage; you may temporarily void your insurance by racing.
Umbrella Insurance Coverage
If you have a number of assets to be protected or are at the beginning of a career that promises to be profitable, you might consider purchasing an Umbrella Insurance Policy that provides additional liability insurance on top of existing automobile policies.
Umbrella is an additional layer of protection for individuals who have substantial assets or drive vehicles that have a high profile.
Sample Insurance Quotes
Insurance quotations vary according to the individuals being insured. Marital status, age, credit history, driving record, education, and home ownership.
In this case, the prospective insured is single, 31 years old, rents a condominium, and lives in Denver, Colorado. He uses the Lotus to commute 10 miles one way to work.
Insurance Company #1: $3,057 every six months.
Insurance Company #2: $3,583 every six months.
In this particular case, the insurance premiums vary by about $400 every six months. That amount is worth the time you will spend online examining insurance quotes.
Comparison-shopping has advantages, even for high-end automobiles such as the Lotus. The variations in price can make an annual difference of over $800 a year. Depending upon the trim kit purchased with this particular car, the variations can be even more evident.
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Frequently Asked Questions
How much does car insurance for a Lotus car cost?
The cost of car insurance for a Lotus car can vary depending on several factors, including the specific model of the Lotus, your location, driving history, coverage options, and the insurance company you choose. To get an accurate estimate, it’s recommended to obtain quotes from multiple insurers.
What factors can affect Lotus car insurance rates?
Several factors can influence Lotus car insurance rates, including:
- Model and Year: The specific model and year of your Lotus can impact insurance rates. Newer or high-performance models may have higher premiums.
- Location: The location where you live can affect insurance rates. Areas with higher crime rates or more traffic congestion may have higher premiums.
- Driving History: Your driving history, including accidents, violations, and claims, can influence insurance rates. A clean driving record generally leads to lower premiums.
- Coverage Options: The type and amount of coverage you choose will affect your insurance rates. Comprehensive coverage and lower deductibles typically result in higher premiums.
- Deductibles: The deductible is the amount you pay out of pocket before your insurance coverage kicks in. Higher deductibles can lower your premiums but mean you’ll pay more if you have to file a claim.
- Insurance Provider: Different insurance companies may have varying rates and discounts for Lotus cars. It’s recommended to compare quotes from multiple insurers to find the best rates.
What are the recommended coverage options for Lotus car insurance?
While the minimum car insurance requirements vary by state, it’s advisable to consider additional coverage options for better protection. Recommended coverage options for Lotus car insurance include:
- Liability Coverage: This covers bodily injury and property damage if you’re at fault in an accident.
- Collision Coverage: This coverage helps pay for repairs or replacement of your Lotus if it’s damaged in a collision, regardless of fault.
- Comprehensive Coverage: Comprehensive coverage protects against non-collision-related incidents, such as theft, vandalism, fire, or damage from severe weather.
- Uninsured/Underinsured Motorist Coverage: This coverage provides protection if you’re involved in an accident with a driver who has insufficient or no insurance.
- Medical Payments Coverage: Medical payments coverage helps cover medical expenses for you and your passengers in the event of an accident, regardless of fault.
- Personal Injury Protection (PIP): PIP coverage provides broader medical coverage and additional benefits such as lost wages and funeral expenses.
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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Dani Best
Licensed Insurance Producer
Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...
Licensed Insurance Producer
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.