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Discussion Starter #1 (Edited by Moderator)
I was curious, if anyone has contact an Insurance Agent to find out what it will cost to insure a smart car? Will the insurance be high because of it size? Or will it be low, based upon the cost of the vehicle and how easy it is to change out the pannels?
 

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I was curious, if anyone has contact an Insurance Agent to find out what it will cost to insure a smart car? Will the insurance be high because of it size? Or will it be low, based upon the cost of the vehicle and how easy it is to change out the pannels?
Good questions. Several years ago--and I'm now trying to recall if it was before the announcement that smart would be coming in 2008, when you could only purchase smarts on the "gray market", or if it was just after it was announced that they would be here in 2008--I did call my insurance company and ask about insuring a smart. The agent said:

1. She had never even heard of smart. Please hold...

2. ...Okay, thanks for holding: no, we don't insure those and we don't have any plans to insure those, but do check back as that might change.

I've just this week been thinking about checking back, and if I do, I shall report my findings here.

p.s. alejake, the rates State Farm quoted you are AMAZINGLY LOW. I am in Florida, and I don't have State Farm (thank God--don't get me started on what I think of that company), so maybe it is different, but I am an excellent driver with a spotless record, my car is very safe, and I've been with my insurance agancy for many years, yet my rate is more than that just for six months! I don't get it. Anyway, that is fantastic.

SEEBURG200, you make a good point that the panels being so easily changed could affect the rates. My guess is that the rates could be somewhat high due to the tiny size. However, if smart performs well in crash tests, that definitely might not be the case. And with its safety cell, it just might pleasantly surprise the insurance companies and the rates could be reasonable.

We will have to see, but I'm definitely wondering about all this, too. Good questions!
 

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Good questions. Several years ago--and I'm now trying to recall if it was before the announcement that smart would be coming in 2008, when you could only purchase smarts on the "gray market", or if it was just after it was announced that they would be here in 2008--I did call my insurance company and ask about insuring a smart. The agent said:

1. She had never even heard of smart. Please hold...

2. ...Okay, thanks for holding: no, we don't insure those and we don't have any plans to insure those, but do check back as that might change.

I've just this week been thinking about checking back, and if I do, I shall report my findings here.

p.s. alejake, the rates State Farm quoted you are AMAZINGLY LOW. I am in Florida, and I don't have State Farm (thank God--don't get me started on what I think of that company), so maybe it is different, but I am an excellent driver with a spotless record, my car is very safe, and I've been with my insurance agency for many years, yet my rate is more than that just for six months! I don't get it. Anyway, that is fantastic.

SEEBURG200, you make a good point that the panels being so easily changed could affect the rates. My guess is that the rates could be somewhat high due to the tiny size. However, if smart performs well in crash tests, that definitely might not be the case. And with its safety cell, it just might pleasantly surprise the insurance companies and the rates could be reasonable.

We will have to see, but I'm definitely wondering about all this, too. Good questions!
They (State Farm) has been very fair with us. At one point for about three years, we had three homes, a condo, a cabin and five cars insured by them. In some twenty odd years we have probably filed three claims for broken windshields and never anything for home insurance and no crashes, We have earned the rated provided, and they are way ahead of the game with our account.
 

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Geico is quoting us $628/yr vs $540 ($500 deductible) for a MINI Cooper S with a higher market value. I think the insurance companies will charge more initially until they establish loss experience on this vehicle.
 

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no State Farm

I've been around the block more than a few times, State Farm is about the WORST insurance company there is. I would never, NEVER, have a policy with those crooked people again. They are very nice until you're in an accident and need their services.

If you have State Farm, please pray you don't ever have an accident! I had them for many years and since finding USAA, I will never go back to those crooked State Farm thieves. USAA is by FAR the best insurance company I have ever been with. They now handle all my insurance for car and home as well as my banking and investments. Top notch company all around.

I'm almost in my 60's and nearing retirement so heed a word of experience from someone who's been around the block and dealt with all the insurance companies......STAY AWAY from State Farm, you will get nothing but headaches! Oh, and by the way USAA will beat State Farms prices by at least 25% and you get more coverage and TONS more customer service. My premiums for my Smart Passion Cabrio runs under $400 per yr for FULL coverage and a ZERO deductable.
 

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I posted a JD Powers ins co survey result on another thread. It rated usaa at the top for all categories. Great price/great service.
 

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I have been with USAA for just over 53 years and while they are not perfect, and there have been a couple of terse issues with them, I have not found a reason to change.
 

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Allstate gave me a steep figure yesterday of $486/6mos. for full coverage with $500 deductable. And this is an agency where my rep is buying a Smarty. :(
 

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I'd keep lookin'

Many years ago, I checked into putting my motorcycle under the same policy as my cars. Allstate wanted to charge FOUR TIMES what I had been paying to another company.
Needless to say, they lost ALL of my business.
 

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State Farm gave me a bundled package which includes my smart ($477/6mths, my Acura ($410/6mths) and my HO insurance. Great folks all around and very accommodating. They even have a low interest credit card. Thanks, Regina
 

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State Farm gave me a bundled package which includes my smart ($477/6mths, my Acura ($410/6mths) and my HO insurance. Great folks all around and very accommodating. They even have a low interest credit card. Thanks, Regina
You're paying more for insurance on your smart than you're paying on your Acura? Doesn't sound right to me. I've seen people in other threads paying less than $300 for six months, but I guess it depends on where people live, age, driving record, etc. It just seems strange that you'd pay more for the smart, since it costs so much less to repair and replacement cost is so much less.
 

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I also have State Farm and am paying $242/6 mos for my smart. I have never had problems, find the cost reasonable and did have an accident where I was pleased with the outcome. Go figure. Insurance Company problem or branch problem or agent problem? :confused:
 

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I have a perfect driving record and excellent credit but I live in a mob state when it comes to insurance scams. It's gotten a lot better in the last 3 years but when I first moved out this way in 2000, to insure my 1999 VW Passat, the cheapest I found was $4,000 for 6 months which caused me to leave the car tagged with my Colorado vehicle registration for 3.5 years. I'm sure you can appreciate how I love my insurance rates now! Thanks, Regina
 

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Ok, I'm feeling like I'm being ripped off. I have Progressive and they quoted me at $1600 for the year with a $100 deductable.
 

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I have been perfectly satisfied with State Farm. Here in Texas, I have had hail damage on three different autos since '84 and they have always paid off quickly and without any hassle at all. I have checked for better prices at various times, but usually they have been as cheap or darn close to it as anyone. For my smart they are charging me less than my 3 yr old Scion xB and didn't even flinch when I asked them about it only 2 days after they came out.
 

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I will never use State Farm. Fortunately we have USAA.
USAA told me i didnt have a long enough credit history to get their insurance or long enough driving record... funny, since it was long enough get approved for a prime mortgage with the market the way it is, and have been driving for 8 years.

i pay $140/mo for full coverage on a wrangler, cobalt, and homeowners with state farm... thats who ill be going with for the smart as well.
 
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