Performance surcharge on insurance??
 

I have a 03 Altima SE, and I have noticed that GEICO is charging a "performance surcharge". My 97 Maxima does not have this surcharge. Do any of the 5th gen owners pay this type of surcharge?

Please list insurance company and whether or not you are paying a performance surcharge. I may just need to change insurance companies.

Thanks, DM

Re: Performance surcharge on insurance??
 

So? Why did you buy the 255hp 2003 Max - for the gas mileage???? At 222hp for the 2k I'm not paying extra.

Hunh??
 

What do you mean so?? :confused: I am just inquiring if other people are paying a performance surcharge, so that I can have some info when I speak with GEICO. :rolleyes: I guess thanks for letting me know that you are not paying a surcharge with your 01 222HP Maxima. I figure HP rating would probably have something to do with it, but I think there has to be a lot more to it than that since there are some 2 door roadsters (i.e. Miata, MR2)with less than 200HP that would be considered performance vehicles to the insurance companies.

I guess with 75 views and 1 response, I can conclude either 2 things...1. You don't realize that your paying this surcharge or 2. You are not paying a surcharge.

Thanks anyway.

My GMAC insurance policy says nothing about a 'performance surcharge'. Therefore Im not paying for one.

Try www.gmacinsurance.com they're probably cheaper than Geico.

I am not paying a surcharge with Geico but a 96 has less hp. on the record at least :D

Do you have full coverage or liability only?
Will Geico cover the cost of the SC\engine parts if the car gets stolen, someone takes it for a joyride and destroys the SC, etc?

I'm curious since Farmer's won't cover engine mods, but they also didn't raise my insurance premiums even though they know about the modifications.

I'm using progressive currently..
No surcharge for "performance", but I'm carrying a rider on the policy to cover an additional $5k in aftermarket parts, including performance parts and stereo.

I totalled one of my cars a couple years ago, and they screamed and griped about it, but eventually I got the money for all the mods.

Re: Performance surcharge on insurance??
 

The 03 Altima has a much larger engine in it than the base model and thus the insurance company charges you extra for owning a "sportier" Altima. All Max's have the same engine so any "sport" surcharge is already built into the base policy and doesn't have to be given as a line item. This "performance" surcharge is much along the lines of getting charged more if your car is simply red or if it only has 2 doors. They feel only people who drive fast would want a red car, or only 2 doors, or a big engine. Really, they just want an excuse, any excuse, to up the rate.

As a side note, I heard somewhere that Nissan officially calls the SE the "Standard Edition" specifically to avoid the higher insurance premiums that would result if it was instead called the "Sports Edition" or similar.

Re: Re: Performance surcharge on insurance??
 

[QUOTE]Originally posted by Myrv
[B]The 03 Altima has a much larger engine in it than the base model and thus the insurance company charges you extra for owning a "sportier" Altima. All Max's have the same engine so any "sport" surcharge is already built into the base policy and doesn't have to be given as a line item. This "performance" surcharge is much along the lines of getting charged more if your car is simply red or if it only has 2 doors. They feel only people who drive fast would want a red car, or only 2 doors, or a big engine. Really, they just want an excuse, any excuse, to up the rate.

Thanks for this info. It now makes some sense. The definition they had for "performance surcharge" was a 2-point charge for any modifications done but not limited to blah, blah, blah not provided by the manufacturer. Funny thing is that they are charging my something that IS from the manufacturer. Needless to say, I will be giving them a call.

there is no performance surcharge on the maxima cause it only comes with a 255HP motor, but the altima gets the surcharge because you can get it with a weaker motor.......why else would you want to get the bigger motor ? =] .....same thing goes with the TL and the TLS, the TLS gets the performance surcharge - because the only reason why u would get the TLS is cause its faster

Just call GEICO and ask about it. You never know what is going through their heads at insurance compaines.

I saw on a state farm pamphlet a few years ago that the BMW 740iL was on their list of "high risk" vehicles. Not the 740i, only the 740iL.

I guess that extra couple of inches of rear seat legroom really turns that machine into a hotrod :rolleyes:

gmac blows hard. i'm leaving them as soon as i can.

Re: Re: Performance surcharge on insurance??
 

your first statement about why the surcharge is there on the altima and not the maxima is correct. the rest is all myths.

Re: Re: Re: Performance surcharge on insurance??
 

Well, I got off the phone with GEICO. They said that the surcharge is because the Altima SE is flagged as a "high performance" vehicle mainly because of the engine. Apparently, the 2.5 Altima does not have a performance surcharge. I asked him about the 03 Maxima, and he said that it was also flagging as a "high performance" vehicle.

He also mentioned that "all" other insurance companies are using the same information regarding are vehicles.:rolleyes: I guess I have to start looking for another carrier.

I have Travelers Insurance and they didn't flag my 2k2 Maxima as any sort of performance vehicle. Geico sucks. They almost went out of business a couple years ago. That's why they will give insurance to anyone now. Before it was just for people with nothing on their driving record.

Wow Matt, that's pretty interesting. I had a big discussion with my State Farm agent about the same thing when I started modding. I told them that I would be putting in over 2 large in stereo and many other things. They gave me a document that says I'm covered for anything "installed" into or on the vehicle. There was no price threshold, but I made sure they knew I was talking about 4-5 grand eventually. I'll have to call them back now....

:rolleyes: :rolleyes: and you know this because...

the only reason your 2k2 isn't flagges is because ALL 2k2 maximas have the same engine so there's no need to differentiate between performance and non performance. so yeah you're paying the "performance" premium - you just don't see it listed.

i love when people talk out of their ***

Re: Re: Re: Performance surcharge on insurance??
 

Not necessarily. I know someone with a red 3 series who pays extra for the color and the fact that its a 2 door convertible.

Re: Re: Re: Re: Performance surcharge on insurance??
 

2 door convertible sure... not color though.