Cart insurance going through the roof
 

I got new policy on my 2024 Yamaha Quiet Tech. last week from All State. Today Agent called and informed me that Allstate is no longer insuring 2024 Yamahas as "golf Carts" because of "Safety improvements Yamaha has made to the 2024's, making them LSV's. (Low Speed Vehicle.)

Tried to add it to my Geico Policy and they want $525.00 and that does not include Collision or Comprehensive.

there was a recent thread on this topic

https://www.talkofthevillages.com/fo...keting-348190/

:bigbow:

bout time you bow down to me :boom:

Most of us could see this coming..

LSV means Low Speed Vehicle. By Florida definition, it is a vehicle capable of more than 20mph but not more than 25mph.

Adding seat belts to a golf cart does not make it a LSV. Increasing the speed of a golf cart above 20mph *does* convert it to an LSV.

Hard to say what the insurance company saw that triggered the LSV. Could it be a Yamaha standard to set the top speed at 25mph? Doesn't seem likely and not according to their sales page. Could it be the vehicle was configured that way at the dealer and that information was passed to the insurance company? Possibly. Could have been something else too.

But did the other thread list the reason insurance was skyrocketing was the 2024 is now considered a LSV?

I thought thread was about all years of carts, not a specific make or year. Which leads this thread into a new topic of interest. Do you stay away from 2024 because insurance is insane

The issue isn’t getting a policy. It is the price. What is the price of your policy?

:clap2:

Last year when I was getting golf cart insurance, they asked if the cart had 2 seats facing back because if I did, they wouldn’t cover the cart

Just renewed with Progressive at $109/yr

Cart Insurance
 

I can't speak to 2024 carts specifically, but I insured our 2017 and 2021 carts with Progressive and the total cost was no where near your costs. Progressive treats them as motorcycles or ATVs and as for cost, it all depends how much you want to cover. We figured liability was important. As for collision or replacement, we kept a high deductible to reduce the overall cost, but still not 'break our bank'. If I recall, the total for my Harley and the two buggies was under $350.

No it’s not ….you need to shop around.

Find an agency, such as Villages Insurance, that writes with Progressive/ASI. We have Progressive for our two carts, 2021 & 2022 Yamahas, with full coverage on both. Just renewed at an annual rate of $209.00 for both.

If you read up on insurance companies and how they operate, they do a couple of data analysis which affects the premiums on its policies, along with what the regulators tell them are the maximum rates they are allowed to charge.

Pool analysis: The take all their customers and look at different factors for probability of claims.
1) the higher the mileage, the higher the risk of a claim, statistically proven
2) the very inexperienced, the higher the risk of a claim.
3) what additional to house and auto is covered? RVs, trailers, ATVs, boats, etc. . different risk profile
etc.

Regulators have rate regulations, which may not include the what else is covered,
allowing insurance company to increase rates or increase rates on extras more than others.
One is never sure what pool you are in for the insurance rate.

Looks like it worked for you until it doesn't/stopped.

Just find another company, and don't take their pricing personally, its just business.
Don't take corporate coupon policies personally either. .

It is what it is, just find another vendor and move on.