TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker and becoming a Supporting Member. For more info: Support TMC
Start a Discussionhttps://teslamotorsclub.com/tmc/tags/

AAA premiums: 30 percent rise

Discussion in 'Tesla, Inc.' started by Tam, Jun 3, 2017.

Tags:
  1. Tam

    Tam Active Member

    Joined:
    Nov 25, 2012
    Messages:
    2,953
    Location:
    Visalia, CA
    #1 Tam, Jun 3, 2017
    Last edited by a moderator: Jun 5, 2017
    Tesla owners should pay more for insurance, AAA says


    AAA cites Highway Loss Data Institute and other sources with the frequency and severity of claims

    Tesla says AAA comparing to the wrong competitors. In addition, Model S has the lowest likelihood of injury.

    Tesla is working with major insurers to bring the premium down because they appreciate Autopilot safety record.

    Startup insurance Root (Ohio, Arizona and Oklahoma for now) agrees and gives special discount for those who uses AutoSteer (verified with their driving phone app for 2 weeks).
     
    • Informative x 2
  2. Mark Z

    Mark Z Active Member

    Joined:
    Mar 12, 2013
    Messages:
    1,671
    Location:
    North Orange County
    It recently took 5 weeks to get a replacement windshield and two extra weeks waiting for the authorized auto body shop to schedule an appointment.

    If part availability would improve, repair time would decrease and lower the associated insurance costs for loaner vehicles.
     
    • Helpful x 1
    • Informative x 1
    • Like x 1
  3. Az_Rael

    Az_Rael Supporting Member

    Joined:
    Jan 26, 2016
    Messages:
    2,651
    Location:
    Palmdale, CA
    Lord, I have AAA and can't imagine my rate being higher than it is now (it's already super high). I guess if insurance companies start lowering rates for AP cars, I might have to upgrade.
     
  4. wqu06

    wqu06 Member

    Joined:
    May 1, 2016
    Messages:
    70
    Location:
    Oklahoma
    Are you sure Root is available in Oklahoma? Checked their website right now and their FAQ states it is only available in OH and AZ.

    I have AAA also and I pay ~$1600/year. I feel like it is an acceptable amount compared to the quotes other people have mentioned.
     
  5. Az_Rael

    Az_Rael Supporting Member

    Joined:
    Jan 26, 2016
    Messages:
    2,651
    Location:
    Palmdale, CA
    #5 Az_Rael, Jun 4, 2017
    Last edited: Jun 4, 2017
    Oh, my rate with AAA at over $2500 a year for the Tesla was comparable to everyone else, it's just a ton of money already compared to our other cars. Our Audi S4 costs $1400/ year. I have zero accidents or tickets on my record. I think the cheapest quote I got was $2300 so we stuck with AAA.

    IMG_0350.jpg


    My policy renews next month, so I should be getting my notice soon. We will see what my new rate is.
     
  6. wqu06

    wqu06 Member

    Joined:
    May 1, 2016
    Messages:
    70
    Location:
    Oklahoma
    Wow that is pretty ridiculous considering you have 2 other cars. My parents got a quote for the Model X and it was only going to be $800/year (along with their other two cars).
     
    • Informative x 1
  7. Az_Rael

    Az_Rael Supporting Member

    Joined:
    Jan 26, 2016
    Messages:
    2,651
    Location:
    Palmdale, CA
    That is why I hope the new rates have already been baked in to my policy. I have a suspicion that there are enough Teslas in CA that the insurance companies here figured out already that they are more expensive to fix. At least I hope so. Paying over $3k for one car per year will really put a damper on our plans to buy a 2nd Tesla.
     
  8. Tam

    Tam Active Member

    Joined:
    Nov 25, 2012
    Messages:
    2,953
    Location:
    Visalia, CA
    Thanks for your correction. I should have verified the source prior to posting.
     
  9. pilotSteve

    pilotSteve Member

    Joined:
    Jul 14, 2012
    Messages:
    953
    Location:
    Vancouver WA
    Wow, I pay $1,072/year with Chubb in WA. Chubb also provides one other car and homeowners. Still sounds like a pretty good price. Tesla insurance is agreed value ($92k) and 500k liability, 500k uninsured motorist, $1k collision deductible, $500 comp deductible.
     
  10. Tam

    Tam Active Member

    Joined:
    Nov 25, 2012
    Messages:
    2,953
    Location:
    Visalia, CA
    My multi-car rate for 2017 Model X 100D $493.51/ 6 months from Wawanesa (It has websites for Canada, California and Oregon):
    Age between 55 and 60, Clean records, 24,000 miles per year. It would be lower if you drive less and don't need half million dollar coverge:

    Bodily_Injury_250,000/500,000__________$135.90
    Property_Damage_100,000_________________$69.03
    Medical_Payment_5,000___________________$15.83
    Comprehensive_(-Collision)_500__________$58.40
    Collision_500__________________________$191.52
    Uninsured/Underinsured_50,000/100,000___$21.50
    Uninsured_Deduct_Waiver__________________$1.33
     
  11. kevincwelch

    kevincwelch Active Member

    Joined:
    May 13, 2012
    Messages:
    2,041
    Location:
    Chicagoland
    I'd love to hear differently, but this is Tesla's fault. Restrictions on whom can do repairs, the outrageous inflation of repair costs by said restricted repair shops and the unacceptable time delay for parts. This was predictable years ago, and now Tesla is "outraged?"
     
    • Like x 4
    • Informative x 1
  12. chillaban

    chillaban Active Member

    Joined:
    May 5, 2016
    Messages:
    2,071
    Location:
    Bay Area
    I mean, some of these Teslas are $100k+ cars, almost all of them are in the performance class of the V8 turbo equivalent competitors. And regardless of the shop mess, they are inherently difficult to repair for any wreck you get into over 25mph. And if you even remotely touch the battery pack that's a $40k+ unrepairable part that's toast.


    These cars are inherently expensive, and sure, we can say it's Tesla's fault. But in my opinion comparing the premiums to repair costs ratio on a Tesla Model S/X, versus my previous Audi A6, it feels like a loophole. Compared to that A6, my insurance went down on my Tesla, primarily the collision portion, which made no sense to me. Both cars were likely rated with fully functional AEB / FCW, but one is way cheaper to repair, and one is almost half the sticker price of the other.
     
  13. kort677

    kort677 Banned

    Joined:
    Sep 17, 2015
    Messages:
    4,853
    Location:
    florida.
    #13 kort677, Jun 4, 2017
    Last edited: Jun 4, 2017
    a little known fact but one of the pressures on pricing auto insurers are dealing with is the increased costs of medical insurance.
    the medical community in cahoots with insurers are trying to shift as much burden off the medical insurers by shifting towards auto insurers.
    one of the first questions asked when in ER triage is "was this injury caused by an auto accident", if you answer yes then the auto insurance is on the hook for your care. I am not arguing whether this is right or wrong and while this may be proper procedure it is another cause of rates going up.
     
    • Informative x 1
  14. Snerruc

    Snerruc Member

    Joined:
    Apr 16, 2016
    Messages:
    531
    Location:
    Palm Bay
    When I got my S , State Farm charged me about $1100 per year. When my cards came, they said my car was a P90d, I went down to correct this error, and when I asked if that would change my rate. The lady said no they charged the same on all Teslas.
     
  15. stopcrazypp

    stopcrazypp Well-Known Member

    Joined:
    Dec 8, 2007
    Messages:
    9,313
    Well, some of that is necessary at the early stage. People back then were still iffy on the safety of Teslas (esp. with the battery packs). If someone was killed while doing repairs (or from an improper repair), Tesla would be hit quite hard. Now they are loosening things a bit after people are more confident in Tesla's safety.

    Also, given Tesla is a low volume manufacturer (and worse: using extensive aluminum which is more expensive to repair), it's expected that it would cost more to repair. Tesla seems be taking more offense in the way the report classifies cars (what bucket it is put in) and them not valuing AP (although some insurance companies are).
     
  16. mspohr

    mspohr Active Member

    Joined:
    Jul 27, 2014
    Messages:
    2,803
    Location:
    California
    I just Googled this and it does appear that medical liability, pain and suffering cost about five times as much as the actual collision repair. So, Tesla is expensive to repair but that is not the major cost of insurance. If Tesla has lower collision rates, it should cost less to insure.
     
  17. chillaban

    chillaban Active Member

    Joined:
    May 5, 2016
    Messages:
    2,071
    Location:
    Bay Area
    But most insurance plans are required to be broken down by collision vs bodily injury insurance. What I see is collision being dramatically more expensive to cover in most of the updated plans. Not bodily injury.
     
  18. stopcrazypp

    stopcrazypp Well-Known Member

    Joined:
    Dec 8, 2007
    Messages:
    9,313
    Upthread there's an example. Collision costs significantly more.
     
  19. eye.surgeon

    eye.surgeon Member

    Joined:
    Nov 18, 2014
    Messages:
    987
    Location:
    California
    We can compare insurance rates across companies and across the country all day long, but the problem remains--Teslas are involved in a disproportionate number of accidents and they cost too much to fix. Unless Tesla takes active steps to address both issues instead of issuing platitudes and outright falsehoods (like claiming that Teslas are at lower risk of accidents--no they are not --insurance data clearly shows this is a false claim), it will do more to hurt the company than any competition will.
     
    • Like x 1
  20. joefee

    joefee 2M+ page views on TMC Threads

    Joined:
    May 29, 2011
    Messages:
    980
    Location:
    CA
    I have AAA for everything! Guess I'll need to shop around now. Anyone done CURRENT cost shopping (I know there are a lot of old posts) ?
     

Share This Page