LSV/NEV insurance nearly doubles

[Larryandlinda]

Our GEM insurance just doubled

Anyone have a clue to any better values?
We use the thing about 50 miles a year, and renters about 500

Help!

L and L

[NJblue]

It's hard to determine if there are better values out there if we don't know what you are now paying. If it doubled from $100 to $200 than I don't know of a better rate. If it doubled from $400 to $800 then you may want to shop around (I believe we pay approx $400-450 at Allstate.)

That being said, I think the insurance rates for LSVs are much too high given the potential liabilities that they entail. Since the largest component of insurance cost is to pay for the damage caused to other people and their property, it is hard to reconcile that a vehicle that goes a max speed of 25 MPH, weighs a fraction of the weight of a car or truck and is driven at most 2,000 miles per year, should pay comparable insurance to what a car or truck (which can do far more damage) does.

[red tail]

i also have allstate...they told me lsv insurance is the same as a second car. an lsv over a golf cart is well worth the expense. they have far more safety features. plus more that is covered in many threads.:icon_bored:

[justanormalgirl]

May I ask a silly question? What is an LSV?

[Bill-n-Brillo]

May I ask a silly question? What is an LSV? Nothing's silly! :)

Stands for Low Speed Vehicle.

Bill

[justanormalgirl]

Nothing's silly! :)

Stands for Low Speed Vehicle.

Bill

O.k. thank you!

[Bill-n-Brillo]

normal -

No problem-o.

If it's of any additional help to you, here's a recent post that explains what constitutes an LSV versus a standard golf cart:

https://www.talkofthevillages.com/forums/showthread.php?t=32904

Bill

[Larryandlinda]

It's hard to determine if there are better values out there if we don't know what you are now paying. If it doubled from $100 to $200 than I don't know of a better rate. If it doubled from $400 to $800 then you may want to shop around (I believe we pay approx $400-450 at Allstate.)

That being said, I think the insurance rates for LSVs are much too high given the potential liabilities that they entail. Since the largest component of insurance cost is to pay for the damage caused to other people and their property, it is hard to reconcile that a vehicle that goes a max speed of 25 MPH, weighs a fraction of the weight of a car or truck and is driven at most 2,000 miles per year, should pay comparable insurance to what a car or truck (which can do far more damage) does.

Thanks
Great info yes, $400 to $800 was the number,
We like the construction of the GEM.
Real steel, real glass, real wipers...
After seeing these in use all over DC by the feds, police, etc we figured they were a good machine, though twice the investment of a standard cart.
We are not golfers but had the golf compatible wheels installed for renters
In addition to the psychic club, are you by chance in or familiar with a GEM or LSV club in TV?
Not that we are 'enthusiasts' that want to go to GEM rallies, but just for info

L and L

[justanormalgirl]

normal -

No problem-o.

If it's of any additional help to you, here's a recent post that explains what constitutes an LSV versus a standard golf cart:

https://www.talkofthevillages.com/forums/showthread.php?t=32904

Bill

Thank you again, the explanation of the difference was helpful. Question again though, do you have to register and have a lisence plate for a street legal cart in Florida?

Teri

[Bill-n-Brillo]

Thank you again, the explanation of the difference was helpful. Question again though, do you have to register and have a lisence plate for a street legal cart in Florida?

Teri
Yep! And it will need to be insured like an automobile as well.

Bill

[Larryandlinda]

Yep! And it will need to be insured like an automobile as well.

Bill

that's what got us
"you will pay the same as a car'

too bad, in addition to all the reasons previously outlined as to the 'lower probability of liabilities' these things are seldom far from home, and the limit of their domain is a fraction of a percentage point as to where they can travel

Maybe the LSV lobby is just so small

L and L

[justanormalgirl]

Yep! And it will need to be insured like an automobile as well.

Bill

Hmmm, we may have to rethink the 'bring the fancy golf cart to Florida' idea. Our insurance here is already about $400.00 a year and we've only put about 10 miles on our cart this year but we don't have to have plates on them.

[mrdills]

This issue hit home to me, I have be trying for the past month to find someone in Tampa or Tallahassee to explain to me why the insurance rate when up drastically this year. I had State Farm and my insurance went up 300.00, so I started to check around and I found All State in Leesburg would insure my cart and cars for about the same price I was playing for my cars and my LSV golf cart from State Farm before the increase in price. My suggestion is check every agency and get the best price. As far as the increase in price on the golf carts I think its about time for everyone to start sending letters to our Representatives ( if we can fine out who they are) in Tampa and Tallahassee on the high price of insurance. I think we should start a Tea Party movement. The other issue I have is on the LSV golf cart, you need PIP coverage just like a car but motorcycles are exempted to this issue and you don't have to carry insurance or wear a helmet go figure. Something wrong here!!!!!

[red tail]

This issue hit home to me, I have be trying for the past month to find someone in Tampa or Tallahassee to explain to me why the insurance rate when up drastically this year. I had State Farm and my insurance went up 300.00, so I started to check around and I found All State in Leesburg would insure my cart and cars for about the same price I was playing for my cars and my LSV golf cart from State Farm before the increase in price. My suggestion is check every agency and get the best price. As far as the increase in price on the golf carts I think its about time for everyone to start sending letters to our Representatives ( if we can fine out who they are) in Tampa and Tallahassee on the high price of insurance. I think we should start a Tea Party movement. The other issue I have is on the LSV golf cart, you need PIP coverage just like a car but motorcycles are exempted to this issue and you don't have to carry insurance or wear a helmet go figure. Something wrong here!!!!!

i wish someone would start a lsv/nev club! id vote for mr dills to be president.:a040:

[chuckinca]

Hmmm, we may have to rethink the 'bring the fancy golf cart to Florida' idea. Our insurance here is already about $400.00 a year and we've only put about 10 miles on our cart this year but we don't have to have plates on them.


Insurance for a 25 MPH street legal LSV (Low Speed Vehicle) is pricey - $400 plus or minus.

Insurance for a 20 MPH golf cart is around $75/yr


.

[BigLew]

Thank you again, the explanation of the difference was helpful. Question again though, do you have to register and have a lisence plate for a street legal cart in Florida?

Teri

yep, kind of questionable as far as worth and when you take them on the road (roads with speeds posted up to 35mph) the people in cars can't stand you because you hold up traffic....much ado about nothing

[mac9]

When the great tax break was being offered for lsv's, I went to Par Car to look at one. I specifically asked about the insurance and was told that they "had an agent" who could insure it for $200 which was far less than I had been quoted by my agent. When I called ParCar's agent, he told me that he could cover the lsv with a motorcycle policy and that it was legal! After that, I didn't trust him( o rthem) and bought an EGzO instead. I wonder how many people actually believed that and bought the lsv and now are paying the price.

[BigLew]

that's what got us
"you will pay the same as a car'

too bad, in addition to all the reasons previously outlined as to the 'lower probability of liabilities' these things are seldom far from home, and the limit of their domain is a fraction of a percentage point as to where they can travel

Maybe the LSV lobby is just so small

L and L

Ah, but in a LSV you can travel with auto traffic and, despite a few safety frills,:smiley: you just don't stand a chance in even a low speed accident. Most accidents happen close to home so proximity of use doesn't fit into the actuarial scenario. If you like the added safety features just have the controller adjusted to limit your speed to 19.8mph don't register it, get the cheap insurance rates and use the cart paths.
:smiley:

[red tail]

Ah, but in a LSV you can travel with auto traffic and, despite a few safety frills,:smiley: you just don't stand a chance in even a low speed accident. Most accidents happen close to home so proximity of use doesn't fit into the actuarial scenario. If you like the added safety features just have the controller adjusted to limit your speed to 19.8mph don't register it, get the cheap insurance rates and use the cart paths.
:smiley:

it doesnt work that way. a lsv has a VIN and is registered. tomberlin already has a golf cart mode built in. if you turn the key all the way it will only go 19mph. but no matter how fast you go you must have the same coverage as an automobile. the good news is you can use cart paths and/or the road. whatever turns you on! i use the road untill the speed demons run me off then i go cart path. and the speed demons are old/young/male/female.

[Larryandlinda]

Insurance for a 25 MPH street legal LSV (Low Speed Vehicle) is pricey - $400 plus or minus.

Insurance for a 20 MPH golf cart is around $75/yr


.

We'll take a years' worth of that drink!

We'd also be willing to cover the administrative costs with others for anyone willing to play 'agent' on getting us favorable rates

L and L

[chuckinca]

Are you saying that the $400 is way low??? Someone else mentioned that was what they were paying for the LSV insurance; I have also seen it mentioned that it is $600. I don't know for a fact what is correct.



.

[ajbrown]

The other issue I have is on the LSV golf cart, you need PIP coverage just like a car but motorcycles are exempted to this issue and you don't have to carry insurance or wear a helmet go figure. Something wrong here!!!!!

I have never looked into any of this, but I agree with you, that is a head scratcher to me....

[golfnut]

Glad I'm not in a hurry, LSV and NEV are not relevant.....gn

[justanormalgirl]

I just had a talk with our agent. We have coverage and replacement value like a car along with the multi car discount, accident free discount etc. She said this is all new to them but they are rating them like a car when they are street legal and we don't have a choice here, can't drive on the sidewalks and we don't have golf cart lanes so we have to drive in the street. The good thing is, we're big enough that we can be seen, ours is a 4 seater Cadillac Sedan Deville, 2010 Cadillac Red with white interior, matching white vinyl top and it's 13 feet long, it's pretty cool!

[Larryandlinda]

Glad I'm not in a hurry, LSV and NEV are not relevant.....gn

Who's in a hurry?
If we were we would certainly not ride our bicycles for 98% of our travel in and around TV
But as with our bikes, when it comes to things that are one time,long time investments, we like to do it once and get solid quality .
It's the pesky ongoing costs that we don't like .
Sign up incentives for self storage, cable,(first month Freeeee!) or FREEEE inspections, chiropractic analysis, alarm imstallation, etc- that's what we don't like when it involves ongoing costs.
Bicycles are a true one timer-'compared to skis or a bowling ball-
Yes,$400 a year would be reasonable for our little GEM
L and L

[golfnut]

If you are not in a hurry why do you want to buy an LSV and go out on the street with vehicles that have a 2,000lb advantage over your vehicle...gn

[golfnut]

L&L you must be in a hurry or you wouldn't be looking for an LSV. If you only use your cart for less than 1% of your travel in TV (I am assuming you have a car too) why are you concerned about getting from point A to point B via LSV and saving on average of I would estimate 5-10 minutes, while spending an extra $3,000 for the initial purchase and $400 annual additional insurance.....gn

[iandwk]

please disregard

[golfnut]

please disregard what....gn

[mrdills]

1st of all I didn't pay 3000.00 more for my LSV cart and I probably payed alot less that most people buying new golf carts. My golf cart insurance is 280 per year. If you are paying less that 125 a year for a regular golf cart and driving over 19.9 MPH you are only kidding yourself. I am tired of people that are trying to tell me what they think they know.

[red tail]

:BigApplause:1st of all I didn't pay 3000.00 more for my LSV cart and I probably payed alot less that most people buying new golf carts. My golf cart insurance is 280 per year. If you are paying less that 125 a year for a regular golf cart and driving over 19.9 MPH you are only kidding yourself. I am tired of people that are trying to tell me what they think they know.

[otherbruddaDarrell]

Cost to title a LSV is $88.25, initial registration is $225.00,license plate and decals are $75.15. Annual renewal is $47.15 and you have to have standard florida state insurance......same as automobile.
The LSV that I had (and got rid of) cost just as much for the insurance as my SUV did.
Got rid of that and now have 2 golf carts instead.

[Larryandlinda]

L&L you must be in a hurry or you wouldn't be looking for an LSV. If you only use your cart for less than 1% of your travel in TV (I am assuming you have a car too) why are you concerned about getting from point A to point B via LSV and saving on average of I would estimate 5-10 minutes, while spending an extra $3,000 for the initial purchase and $400 annual additional insurance.....gn

Thanks for the follow up and concern.
As we mentioned in the posting,
We invested in a longer-term quality product for the convenience, reliability, and safety of our renters at the larger home, and we get a premium if they choose it over the basic cart we keep at the smaller rental.

Like the products we offer in our bicycle shops, on a machine that we plan to keep a decade or longer, the difference between a 'get buy' and a far better 'wanna have' comes out to pennies a week (for bikes, maybe pennies a day for carts, though there are bikes that cost more than some carts)

and all the while we have a better product - and in the end, if we or a bike customer bails and wants to 'get rid of' the bike or cart, the 'extra investment' is now cut in half, and that 'pennies-per----" and cost per use lowered as well, since the premium product will hold value far better.

We have many seniors that will never be in a bike race nor ascent Mt Fuji on a mountain bike, but they want speed, comfort, and reliability.
Who are you or we to say we should not make investments in quality.
Too sad, too bad that the bulk of american consumerism is so based upon price
too bad WalMart's 'American Principles" are now so diluted that they own their own fleet of freighters that dead head from China chock full of crap to be sold in big boxes.

In our industry, we have seen hundreds of kids *and adults) brutally injured (or killed) from department store bikes mis-fitted, mis-assembled, and mis-explained.

We could make just short of a small fortune if we advertised more and took more expert witness assignments, but we usually just suggest they take the bikes back, give the toy store the good news that the kid is alive, and get a real bike.

Just like the TOTV cheap wine quote, life's too short to ride cheap bikes and own cheap carts.
Friends don't let friends drive junk

In terms of 'can't afford", we hear that very often from people in huge pedals with golf clubs in the trunk on their way to a dinner-for-4 with average wine and $100 worth of fuel in the tank

most of those have to be replaced more often that a cart of bicycle

Good thing we didn't go off on bottled water, but this rant is getting too off the wall and way too long

Let's Vote!

L and L

[red tail]

L&L you must be in a hurry or you wouldn't be looking for an LSV. If you only use your cart for less than 1% of your travel in TV (I am assuming you have a car too) why are you concerned about getting from point A to point B via LSV and saving on average of I would estimate 5-10 minutes, while spending an extra $3,000 for the initial purchase and $400 annual additional insurance.....gn

because i got $5000 rebate for buying it!