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

[LoL Rick]

Having lived in CA, I get their high premiums

When I asked why insurance is so expensive, I was told it's because I live in Michigan.

New Jersey is also a no fault state with rates pretty much higher than anywhere else in the country due to the no-fault insurance.

I've been reading this thinking Florida has ridiculous rates too, but every state can't be the most expensive. So here is some data. According to that, Michigan is indeed at the top of the heap due to its very liberal PIP requirements.

 

[Pilot_51]

I've been reading this thinking Florida has ridiculous rates too, but every state can't be the most expensive. So here is some data. According to that, Michigan is indeed at the top of the heap due to its very liberal PIP requirements.

Good find. My PIP is $623. That's lower than the Honda by $180 and the C-Max by $100, albeit because of the higher safety ratings. The bulk of the higher prices (over parent's policy) is for vehicle damage, no doubt because of how expensive it is to repair damage to the aluminum body or replace the vehicle.

 

[mattreidy]

2013 Honda Accord V6 Touring: $698 a year ($30K car)
2014 Tesla Model S 85: $1,268 a year ($85K car - after credits)

That's via State Farm - I have 4 vehicles and a home insured with them - no accidents etc.

 

[Notacarguy]

2009 Versa
2007 Pilot
Combined $700 a year Texas

Added the 2014 s60 brought it up to $2000 for all 3 cars, so $1300 a year for the Tesla

$500 deductible

50/100 coverage

With Geico

 

[Peter_M]

S85 in Canada:

C$798 first year for the Tesla, just renewing now at C$884 for second year. Increase is because of the 5 year full replacement cost option
2 vehicles; other is 2013 Prius V with C$1000 premium
2 drivers, clean record
TD Meloche Monnex Insurance

 

[AmpedRealtor]

Encompass agreed value policy here w/ 250/500 comprehensive w/ $500 deductible and glass. I pay $1,098 per year with multi-policy discount.

 

[MarcG]

I don't have my P85D yet, but I already have my VIN and a quote from Progressive (with whom I've been for over 14 years) is as follows:

$381 per 6 months ($762 a year)
$500 comp/$1000 collision deductible
$100k/300k/50k bodily injury/property damage

This would be the 4th car with 2 drivers, none of us having any tickets or accidents.
Note that the VIN wasn't recognized by Progressive and I had to enter the make & model, and the only Tesla model available was "Model S Base" (whatever that means).

I'm assuming that once they realize it's a $130k machine with crazy acceleration, the rate will go up.
Does anyone have any experience with this, where a quote was given but later increased?

Thanks,
-Marc

 

[astrotoy]

300/500 with $1K deductible collision is $1056/year for my Tesla S, SF Bay Area. from GEICO. Switched to GEICO from Allstate, when Allstate quoted me $2500 for a year (after being with Allstate for 20 years). Half of the premium is for collision.

I also have a big umbrella which covers the amount above the 300/500 liability.

 

[breser]

I don't have my P85D yet, but I already have my VIN and a quote from Progressive (with whom I've been for over 14 years) is as follows:

$381 per 6 months ($762 a year)
$500 comp/$1000 collision deductible
$100k/300k/50k bodily injury/property damage

This would be the 4th car with 2 drivers, none of us having any tickets or accidents.
Note that the VIN wasn't recognized by Progressive and I had to enter the make & model, and the only Tesla model available was "Model S Base" (whatever that means).

I'm assuming that once they realize it's a $130k machine with crazy acceleration, the rate will go up.
Does anyone have any experience with this, where a quote was given but later increased?

Progressive gave me a very high quote. I had them for 15 years and ended up ditching them as a result. Seems like you have gotten a pretty decent quote out of them.

 

[Majerus]

Is it abnormal for a company to know about agreed value? I have spoken to two different agents and both seemed baffled, then called me back a few hours later explaining how I wanted Actual cash value not agreed value insurance.

 

[breser]

Is it abnormal for a company to know about agreed value? I have spoken to two different agents and both seemed baffled, then called me back a few hours later explaining how I wanted Actual cash value not agreed value insurance.

Most companies don't offer agreed value policies. Few people even know they exist. So not surprised at all that they weren't familiar with them.

 

[redi]

Most companies don't offer agreed value policies. Few people even know they exist. So not surprised at all that they weren't familiar with them.

The only one I know about that has agreed value option is Hagerty for collector vehicles. I suspect some of the others in this niche do too.

 

[randompersonx]

Progressive just quoted me out $1600 per year for the P85D, which is slightly more expensive than on my Porsche 997 Turbo.

 

[breser]

The only one I know about that has agreed value option is Hagerty for collector vehicles. I suspect some of the others in this niche do too.

Chubb and Encompass are fairly well known companies that provide agreed value policies for any vehicle. Most other companies tend to only offer it on collector vehicles like you mention. I'm sure there are others that sell them as well.

 

[svp6]

I talked with Travelers about my P85D. The VIN did not work, they had to manually enter everything including the MSRP ("Tesla ...... is that a Ford or a Chevy?":tongue. ~$1800 per year with 500k overall, gap insurance, 1k deductible.

 

[AmpedRealtor]

Is it abnormal for a company to know about agreed value? I have spoken to two different agents and both seemed baffled, then called me back a few hours later explaining how I wanted Actual cash value not agreed value insurance.

They are wrong. Actual cash value is the depreciated value. Agreed value is the value you agree to when you write the policy, with no depreciation applied to that figure. Encompass offers agreed value, many others only offer actual cash value. You want the former, not the latter.

 

[jerjozwik]

so i just got off the phone with AAA about a model S quote.

$1,000/$1,000 garaged, 8,000 miles a year.

year rates for cars with existing policy is; p85d $1,929, 70D $1,992. which i found interesting, as did the lady at AAA. she thought the 70D was the performance model.

 

[Barry]

I just got a renewal from State Farm. $419/6 months. 100/300 liab (base required for umbrella policy), 500 ded comp/coll, uninsured motorist. Discounts for multiline, multicar, safe driver.

 

[LarryC]

so i just got off the phone with AAA about a model S quote.

$1,000/$1,000 garaged, 8,000 miles a year.

year rates for cars with existing policy is; p85d $1,929, 70D $1,992. which i found interesting, as did the lady at AAA. she thought the 70D was the performance model.

For comparison, I also live in the SGV, assuming you mean the one in SoCal. I have the same mileage but lower deductibles and a yearly premium through Farmers for my 2014 S85 of $1496. No tickets, no accidents, 3 insured cars (MB, Toyota PU), plus my house and an umbrella policy. The PU is $835 and the 2015 C MB is $1223.

 

[mercer2]

2015 p85d, msrp 140k
They are quoting me $1,800 for one year with a $5,000 deductible and a value of 80,000
I also have 3 more cars,

Is this expensive? I think the value of the car is low and the deuctible is high from the price quoted.