S2000 Insurance: How do people manage it?
Discussion
I've been considering changing my car and an S2000 seems like a great candidate: love the engine, the looks, noise, seems like something that can be left outside and used daily (as opposed to say, a Chimaera)... But insurance? No chance.
Now, ok, I'm 21 (22 when insurance would start, and what I used for the quotes) and I'm not expecting it to be 'cheap', but I see other people (who seem to be) my age driving them around and I have to wonder... How?
For comparison, quotes for other cars with the same details:
MX5 (Current car, albeit didn't declare mods for this example quote): £900
RX8 PZ: £1100
350Z: £1000 (Coupe. The roadster comes in at £2200
)
Boxster (986 2.7): £1400 - (986 3.2S) £1800
BMW Z4M: £1800
An S2000? £2300. Now, ok, it's a fairly powerful car with reputation for going backwards. But it seems absolutely nuts that it's that much more to insure than those other cars I've mentioned which in many cases, are either as quick or quicker than the S.
It's a bit gutting really. It seems like a perfect car for me in every other respect, but the insurance means it's a no go. Does anyone here around my age own one? If so, do you mind saying how much you pay for insurance and who with?
FYI: Those quotes were with Admiral multi-Car with several older named drivers. I've tried several specialists, many of which are listed on the S2Ki website and all have been severely un-competitive. (The cheapest being £3.5k, the most well over £4k and was also treated to the advice of "get a 3 series for a few years first")
Now, ok, I'm 21 (22 when insurance would start, and what I used for the quotes) and I'm not expecting it to be 'cheap', but I see other people (who seem to be) my age driving them around and I have to wonder... How?
For comparison, quotes for other cars with the same details:
MX5 (Current car, albeit didn't declare mods for this example quote): £900
RX8 PZ: £1100
350Z: £1000 (Coupe. The roadster comes in at £2200
)Boxster (986 2.7): £1400 - (986 3.2S) £1800
BMW Z4M: £1800
An S2000? £2300. Now, ok, it's a fairly powerful car with reputation for going backwards. But it seems absolutely nuts that it's that much more to insure than those other cars I've mentioned which in many cases, are either as quick or quicker than the S.
It's a bit gutting really. It seems like a perfect car for me in every other respect, but the insurance means it's a no go. Does anyone here around my age own one? If so, do you mind saying how much you pay for insurance and who with?
FYI: Those quotes were with Admiral multi-Car with several older named drivers. I've tried several specialists, many of which are listed on the S2Ki website and all have been severely un-competitive. (The cheapest being £3.5k, the most well over £4k and was also treated to the advice of "get a 3 series for a few years first")
A friend of mine has one, he's 22/23 not sure how much he pays, think it could be on a multicar policy.
I take it you've tried adding parents to the policy as additional drivers?
With Admiral it made it about £200 cheaper for me on my car.
Nevermind, see your edit already has that covered.
I take it you've tried adding parents to the policy as additional drivers?
With Admiral it made it about £200 cheaper for me on my car.
Nevermind, see your edit already has that covered.
Absolutely. I have considered a Chim, but it would live outside and be a daily drive. Whilst I think they're fantastic, I find the idea of a screaming IL4 more appealing than the lazy V8 of the TVR.
As I've said, they do have a bad reputation, both for being crashed and stolen, which I'm sure is reflected in the statistics. Whilst I accept they will be costlier to insure than the other cars I mentioned, it's the huge margin that gets me. Surely, no sane person would pay £2k+ for insurance when there are those other cars are available.
So, either there are a handful of insane people out there, or they're getting cheap insurance.
I'm just trying to find out which it is.
As I've said, they do have a bad reputation, both for being crashed and stolen, which I'm sure is reflected in the statistics. Whilst I accept they will be costlier to insure than the other cars I mentioned, it's the huge margin that gets me. Surely, no sane person would pay £2k+ for insurance when there are those other cars are available.
So, either there are a handful of insane people out there, or they're getting cheap insurance.
I'm just trying to find out which it is.
What's the first part of your post code and how much mileage are you doing? I find those affect insurance a lot.
We have the the S2000 and FD2 on multicar policy. The more expensive to replace, imported group 20 FD2 costs £440. The S2000 £770. The S2000 is in my wife's name...it's always been a lot more to insure.
As has already been mentioned, the crash stats are probably right up with there with the worst (or is it best?)
We have the the S2000 and FD2 on multicar policy. The more expensive to replace, imported group 20 FD2 costs £440. The S2000 £770. The S2000 is in my wife's name...it's always been a lot more to insure.
As has already been mentioned, the crash stats are probably right up with there with the worst (or is it best?)
Wow that's pretty good and surprising. I thought being in Aberystwyth (a very low risk area, apparently) would show pretty good results, apparently not. 
It's not down to being a student, either: Changing job title from student to various other things knocks the premium down by £100~.
It's not down to being a student, either: Changing job title from student to various other things knocks the premium down by £100~. hondafanatic said:
What's the first part of your post code and how much mileage are you doing? I find those affect insurance a lot.
We have the the S2000 and FD2 on multicar policy. The more expensive to replace, imported group 20 FD2 costs £440. The S2000 £770. The S2000 is in my wife's name...it's always been a lot more to insure.
As has already been mentioned, the crash stats are probably right up with there with the worst (or is it best?)
SY23 - Aberystwyth.We have the the S2000 and FD2 on multicar policy. The more expensive to replace, imported group 20 FD2 costs £440. The S2000 £770. The S2000 is in my wife's name...it's always been a lot more to insure.
As has already been mentioned, the crash stats are probably right up with there with the worst (or is it best?)
All of those quotes are for 10k mileage. In reality I probably do a lot less, but for peace of mind should I do more.
mx5tom said:
hondafanatic said:
What's the first part of your post code and how much mileage are you doing? I find those affect insurance a lot.
We have the the S2000 and FD2 on multicar policy. The more expensive to replace, imported group 20 FD2 costs £440. The S2000 £770. The S2000 is in my wife's name...it's always been a lot more to insure.
As has already been mentioned, the crash stats are probably right up with there with the worst (or is it best?)
SY23 - Aberystwyth.We have the the S2000 and FD2 on multicar policy. The more expensive to replace, imported group 20 FD2 costs £440. The S2000 £770. The S2000 is in my wife's name...it's always been a lot more to insure.
As has already been mentioned, the crash stats are probably right up with there with the worst (or is it best?)
All of those quotes are for 10k mileage. In reality I probably do a lot less, but for peace of mind should I do more.
From having owned an S2000 the OEM Bridgestones are imo suicidal so if that is indeed reflected in the claims I wouldn't be that surprised that it's a bit higher than the competition.
Get a quote for an "S2000 GT" (the only difference between this model and a non-GT is the optional hardtop, both GT and non-GT are just recognised as "S2000" on logbooks), you might be surprised at the difference.
Get a quote for an "S2000 GT" (the only difference between this model and a non-GT is the optional hardtop, both GT and non-GT are just recognised as "S2000" on logbooks), you might be surprised at the difference.
S2000s are rare and, generally, that tends to REDUCE costs because it means they're owned by enthusiasts (who look after them) instead of idiots (who crash them)...
Clearly there's some actuarial data working against the car here tho - quite simply, they've been nicked or stacked a lot and/or there are expensive parts easily damaged in accidents and/or parts are expensive or it takes forever to get them.
Are you garaging the car and/or using for Class 1 (travelling to more than 1 place of work)?? Non-garaged convertibles tend to attact massive quotes (see the 370Z Roadster) as do Class 1 policies (because it implies you'll be parking the car in lots of different places which tends to include public car parks, hotel car parks etc. etc.).
Someone I know was 99% of the way to buying one and at the last moment changed his mind and got a Z3 instead - it may well have been the insurance which put him off (the car he was looking at was an import too) - I'll ask him next time I see him...
Clearly there's some actuarial data working against the car here tho - quite simply, they've been nicked or stacked a lot and/or there are expensive parts easily damaged in accidents and/or parts are expensive or it takes forever to get them.
Are you garaging the car and/or using for Class 1 (travelling to more than 1 place of work)?? Non-garaged convertibles tend to attact massive quotes (see the 370Z Roadster) as do Class 1 policies (because it implies you'll be parking the car in lots of different places which tends to include public car parks, hotel car parks etc. etc.).
Someone I know was 99% of the way to buying one and at the last moment changed his mind and got a Z3 instead - it may well have been the insurance which put him off (the car he was looking at was an import too) - I'll ask him next time I see him...
Car will be kept on the street. I haven't tried 'Drive' (as I don't have one) but I tried saying it would be kept in a garage, and the price went up around £200. I also tried adding a tracker, and the insurance went up by £100. I'm going to try the GT/Non-GT route now and see what I get.
GT / Non-GT quotes:
2006 GT: £2372
2006 Non-GT: £2372
2001 Non-GT: £2115
2001 GT: £2115
Seems you were right at being surprised by the difference between the GT/Convertible. There's none. :P
ETA: I've tried different addresses, age of car, how long I've owned the car (purely to see if it decreases considerably after owning it a year) and made very little difference. The only change make a considerable difference is the excess. Changing it from £250 to £1000 lowers it to a £1400 premium, however this is an unrealistic option.
I also forgot to mention I have 3 points which probably makes a fair bit of difference too...
2006 GT: £2372
2006 Non-GT: £2372
2001 Non-GT: £2115
2001 GT: £2115
Seems you were right at being surprised by the difference between the GT/Convertible. There's none. :P
ETA: I've tried different addresses, age of car, how long I've owned the car (purely to see if it decreases considerably after owning it a year) and made very little difference. The only change make a considerable difference is the excess. Changing it from £250 to £1000 lowers it to a £1400 premium, however this is an unrealistic option.
I also forgot to mention I have 3 points which probably makes a fair bit of difference too...
Edited by mx5tom on Sunday 14th August 23:27
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