robert407 wrote:I hope that the Elio doesn't change their classification because In the state of Florida trikes are classified motorcycles. I currently own a 250cc Viper trike and the insurance is only $70 a year, which includes roadside assistance.
lt1 wrote:robert407 wrote:I hope that the Elio doesn't change their classification because In the state of Florida trikes are classified motorcycles. I currently own a 250cc Viper trike and the insurance is only $70 a year, which includes roadside assistance.
They will not attempt to change the classification for the reasons stated previously. If the regs classifying trikes as motorcycles were not in effect, the Elio would not have been produced as a trike. The costs of compliance with automotive regulations make a startup auto manufacture almost an impossibility. As is, this has been and will continue to be, a difficult and challenging endeavor for Elio Motors.
Insurance is not cheap for motorcycles "because they are motorcycles". Your 250cc trike insurance is cheap because it is a low-speed, low-value, low-mileage, low-risk vehicle. Odds are you have no medical nor comp or collision for those rates. When you start insuring $30k motorcycles and/or high-performance bikes, you will find the rates much higher. The Elio will be (hopefully) inexpensive to insure because of the low replacement value, the lower risk of property damage, and perhaps for the expected safety rating. OTOH, rates will be higher because of the newness of the model, no statistics on 3-wheelers, and general insurance company caution. After a few years, the rates should be pretty predictable, but may be all over the board for early owners. Some companies insure motorcycles primarily by displacement, so they may just say: (drivers record/stats) + (900cc displacement) +($7k cost) = rate. Most companies insure cars and motorcycles separately, so multi-vehicle discounts may not apply. Pretty much every company and every state does things somewhat differently, so blanket statements simply won't help a lot in this regard.
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