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$4200 for insurance?? If comfortable, please share what you pay?

Discussion in 'Model S' started by Tedkidd, Oct 16, 2014.

?

Annual Tesla Insurance Premium

  1. Under $1000

    70 vote(s)
    33.7%
  2. $1000 - $2000

    117 vote(s)
    56.3%
  3. $2000 - $3000

    15 vote(s)
    7.2%
  4. $3000 - $4000

    3 vote(s)
    1.4%
  5. Over $4000

    3 vote(s)
    1.4%
  1. Tedkidd

    Tedkidd Member

    Joined:
    Dec 8, 2013
    Messages:
    612
    Location:
    Rochester, New York, United States
    Chatting with my Uncle on his trip from Jackson WY to Nantucket, then to Florida has been fascinating. My aunt likes the shorter stops and leg stretching, she's not stiff/in pain at the end of a long day driving.

    My uncle expressed frustration at his insurance. They have 4 cars, their Subaru cost $350 a year and the Tesla cost over $4000. That just sounds wrong. He said he shopped it.

    I know there are random comments about premiums people are paying, but I'd like to have one concise place for this. If you are comfortable sharing, please post the following:


    1. Annual Tesla Premium,
    2. Lowest car premium
    3. Total cars owned
    4. Number of drivers
    5. Insurance company.
    ​Thanks!
     
  2. Zythryn

    Zythryn MS 70D, MX 90D

    Joined:
    Mar 18, 2009
    Messages:
    1,660
    Location:
    Minnesota
    About $750/year.
    2 drivers, 2 cars plus home.
    No accidents or tickets.
    State Farm

    One thing to be aware of, I have heard performance cars can have a higher cost. Not sure though as I avent insured one myself.
    If he is using an insurance broker, his broker is getting rich ;-)
     
  3. skboston

    skboston Member

    Joined:
    Aug 30, 2014
    Messages:
    249
    Location:
    Wilmington, MA
    I'm paying $1300 with $500 deductible in MA.

    $4000 a year sounds quite a large sum for a Tesla, care to share more details about the policy and driving history. It's absurd if insurance for a car to cost $4000 if driving record is decent.
     
  4. DieAbetic

    DieAbetic Member

    Joined:
    Jan 16, 2014
    Messages:
    159
    Location:
    Los Angeles
    Under 30 driver here, no tickets/accidents on record. Same with my wife.

    Have house and another car with State Farm, recent quote was $2,100-$2,300 per year (depending on options like deductible, rental car reimbursement, etc). Please note I live in Los Angeles, where insurance prices are about 30-40% higher than usual. If I lived 1-2 hours south in Orange county, the price would be ~$1,000-$1,500 according to my insurance agent.
     
  5. Botbldr45

    Botbldr45 Member

    Joined:
    Oct 11, 2011
    Messages:
    513
    Location:
    Sedona, Az
    We are paying $848.06 per year with a $500 deductible for the Model S
    2 drivers.....No accidents for awhile
    Three cars, Roadster, MS, 2000 VW Beetle
    USAA
     
  6. Tedkidd

    Tedkidd Member

    Joined:
    Dec 8, 2013
    Messages:
    612
    Location:
    Rochester, New York, United States
    Thanks for sharing guys!

    I don't know their history, my cousins had access to the car while it was in Jackson so maybe they were listed, I know one has a bad record.
     
  7. jerjozwik

    jerjozwik Member

    Joined:
    May 12, 2014
    Messages:
    699
    Location:
    san gabriel valley
    anyone with a p85+ want to chime in with their rates?
     
  8. taurusking

    taurusking Member

    Joined:
    Jul 12, 2014
    Messages:
    876
    Location:
    East Texas
    #8 taurusking, Oct 16, 2014
    Last edited: Oct 16, 2014
    I am currently with Geico and they offered me $1087 for an year
    2 cars with 2 drivers
    No accidents or tickets
    Geico

    However I am planning to switch to Safeco because they offer agreed value if the car is totaled for $1400 per year for both the cars ( However the second car is not covered for an agreed value)

    TedKidd::::: I bet that $4000 for Tesla includes replacement coverage... I will be surprised if it is not

    I have question to all those who responded to this thread..Does your insurance offer cash value if the car is totaled or does it provide agreed value...Most of us don't realize how fast these cars can depreciate. Just wondering.

    Thanks
     
  9. Lloyd

    Lloyd Active Member

    Joined:
    Jan 12, 2011
    Messages:
    4,882
    Location:
    San Luis Obispo, CA
    Annual Tesla Premium, 704.05/6 months This is for a p-85+
    Lowest car premium 143.13
    Total cars owned 7
    Number of drivers 5
    Insurance company. USAA
     
  10. breser

    breser AutoPilot Nostradamus

    Joined:
    Aug 28, 2014
    Messages:
    2,310
    Location:
    North Bend, WA
    I'm currently with PEMCO.
    2 vehicles. 2004 F150, 2014 S85.
    S85 is $647.82 annually
    F150 is $484.83 annually
    2 drivers no accidents or tickets.

    I called the service center before I got my car and got the info on the auto-body shop they recommended. Called them and asked who was good and bad as far as paying them.

    They told me PEMCO and Chubb were particularly good about paying without fussing. Told me that Safeco, USAA, and Liberty Mutual were very bad. Everyone else was just ok.

    I called all of them, PEMCO happened to be the cheapest. Progressive and AllState both gave me quotes in that $4000 range. So I'd suggest doing some shopping.
     
  11. taurusking

    taurusking Member

    Joined:
    Jul 12, 2014
    Messages:
    876
    Location:
    East Texas
    Interesting to know...Breser does PEMCO offer agreed value... I know Safeco does but I wanted to make sure before I make the switch.
     
  12. breser

    breser AutoPilot Nostradamus

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    Aug 28, 2014
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    Location:
    North Bend, WA
    #12 breser, Oct 16, 2014
    Last edited: Oct 16, 2014
    I'm not carrying agreed value and didn't ask. PEMCO isn't an option for you anyway, they only insure in Oregon and Washington.

    I'd also encourage you not to rely on what my local shop says. Insurance company decisions are made by people, the behavior of even large national companies varies by region. So I'd suggest that you call the shop you'd use and ask them.

    Edit: Something I should also mention is that just becuase a shop said an insurance company wasn't very willing to pay doesn't mean the owner of the vehicle had a bad experience. I happen to know about the incident that caused the shop to say USAA was bad came out very well for the owner of that vehicle. If an insurance company isn't willing to pay for the repair they'll total the vehicle and then how good they are from an owner perspective comes down to how easy they are to come to agreement on the value of the vehicle. If you're carrying agreed value well then you've already handled that bit already. So then the question becomes do you want the vehicle repaired if it can be or would you rather they total it out and you get a new one.
     
  13. nearlysober

    nearlysober New Member

    Joined:
    Oct 10, 2014
    Messages:
    3
    Location:
    Seattle, WA
    I haven't taken delivery of my S85 yet, but shopping around insurance quotes it looks like its going to be about $1400 a year.

    34 year old, no recent accidents/tickets.
     
  14. DieAbetic

    DieAbetic Member

    Joined:
    Jan 16, 2014
    Messages:
    159
    Location:
    Los Angeles
    To add some more (these prices include me being under 30, add wife, no accidents/tickets, living in Los Angeles, bundling with other car):

    Amica (aka Costco) offers new car replacement policy (depending on state, apparently) up to 180 days from date of purchase. ~$2500 yearly to bump to that option with my info (see earlier post).

    Geico around $1800-$1900 for me.

    Progressive $2600+

    AAA $3000+

    Mercury $4,000+
     
  15. cschock

    cschock Member

    Joined:
    Jul 25, 2013
    Messages:
    111
    Location:
    California
    Whenever I see requests such as this I always wonder how it is possible that anyone could compare without providing huge amounts of information. Your insurance rates depend upon at least the following:
    - Number of drivers and driving history
    - Number and type of vehicles insured
    - Whether or not you insure other things with the same company (e.g. home)
    - Where you live
    - Age and gender of drivers
    - coverage limits
    - deductibles
    - optional coverages (roadside assistance, rental car reimbursement, etc.)

    I'm sure I am forgetting some things in this list. With that said, $4200 does seem really high for a year of auto insurance though if you have young drivers with tickets/accidents on their record and high coverage limits I could see it getting to that level.
     
  16. GoBlue88

    GoBlue88 Member

    Joined:
    Apr 1, 2014
    Messages:
    638
    Location:
    San Diego area
    USAA here. 3 vehicles insured in SoCal. Also have homeowner's and life insurance with USAA.

    For the MS85: $562 per 6 months ($1124 per year). $250 collision deductible.
     
  17. yobigd20

    yobigd20 Well-Known Member

    Joined:
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    Location:
    Skaneateles, NY
    you need to shop around more. I got quotes over $3000 from geico and state farm, yet progressive was under $1000/yr, and the progressive quote was for even more coverage than the other two, go figure.
     
  18. deonb

    deonb Active Member

    Joined:
    Mar 4, 2013
    Messages:
    3,019
    Location:
    Redmond, WA
    $1246 per year with $500 deductible from Progressive for a P85.
     
  19. Tedkidd

    Tedkidd Member

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    Dec 8, 2013
    Messages:
    612
    Location:
    Rochester, New York, United States
    If you compare to one person that's a pretty poor sample, but as you get more responses your confidence increases.

    At this point with 49 responses and no others over $3000 it seems a pretty fair conclusion that $4000 is an outlier worth digging into.
     
  20. breser

    breser AutoPilot Nostradamus

    Joined:
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    Location:
    North Bend, WA
    An important point not to miss is those of us who did shop are reporting that there was a pretty wide range of pricing. In my case Progressive was very expensive and State Farm was more reasonable. I've seen others report exactly the opposite. The only conclusion I came from looking at these threads is that you can't use them to shop for insurance. You have to call the insurance companies up and ask for a quote, because (as someone else pointed out earlier) there are too many variables to make any conclusions.

    That said I agree $4000 for a year of insurance is high and I would be shopping for a different insurance company. That is in fact pretty much what happened. I'd had Progressive for 15 years, that's roughly what they quoted me. I took my business elsewhere.
     

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