AAA premiums: 30 percent rise

[Tam]

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).

 

[Mark Z]

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.

 

[Az_Rael]

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.

 

[wqu06]

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).

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.

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.

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.

 

[Az_Rael]

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.

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.




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

 

[wqu06]

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.

View attachment 229715


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

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).

 

[Az_Rael]

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).

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.

 

[Tam]

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.

Thanks for your correction. I should have verified the source prior to posting.

 

[pilotSteve]

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.

 

[Tam]

Oh, my rate with AAA at over $2500 a year for the Tesla...

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

 

[kevincwelch]

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?"

 

[chillaban]

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?"

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.

 

[kort677]

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.

 

[Snerruc]

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.

 

[stopcrazypp]

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?"

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).

 

[mspohr]

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.

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.

 

[chillaban]

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.

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.

 

[stopcrazypp]

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.

Upthread there's an example. Collision costs significantly more.

 

[eye.surgeon]

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.

 

[joefee]

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) ?