I just got my insurance renewal, and my 8 has jumped from a symbol 17 to a symbol 20!

What symbol do y'all's insurance companies rate your 8's?

Thanks.

 

wow. i dont even know what that means, i dont think my insurance goes by 'symbols'

 

In most states, a vehicle carries a symbol that is used to establish a baseline premium for the vehicle. Combine that with your driving record and other factors like how far you commute, etc. to get your premium.

 

I searched Google, and it looks like the term is ISO Symbol (Insurance Services Office). It is a rating system that most insurance companies subscribe to.

 

Great more B.S. from INS.co's

 

Mine is cost symbol 19 and class 105320, whatever that means!

My insurance said the cost symbol was calculated using the base price of the car (at least at this company). Symbol 19 is for cars with a base price of $25K-$30K.

At least this is what they told me on the phone when I asked.

 

I'm going to call them in the AM to see what gives. I'll let y'all know. If this is a re-evaluation of our 8's by the Insurance Co's, many could see a change at renewal time.

 

Got this answer from my insurance company:

"I spoke with the Travelers service center and your vehicle symbol was upgraded to reflect a higher symbol based on the cost of repair or replacement. Unfortunately, this increase would be reflected no matter what company you were rated with. So the good news is your vehicle is maintaining its value!"

So, when you renew prepare yourselves. You may see your symbol increase. Sux!

 

I think that's bullsh*t because it seems like the rx8 is losing value fairly quickly. The 2005's are dropping fast.

 

I guess we can attribute this partially to the low resale value of the car putting it into the hands of young drivers who subsequently drive it off an overpass.