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Anyone get an insurance quote from Costco recently?? $406 for 2 vehicles

Atreyu

Member
Dec 12, 2019
125
120
Northern California
I currently have esurance and for my 2020 M3 and my wife's 2014 ICE vehicle, we are paying $850 for a 250/500/100 policy. I hopped on Costco online today after upgrading to an executive membership. They gave me the same coverage with $1000 deductible and it came up to $406! I'm not sure if its because it's thru Connect which is powered by American Family, but that's $450 cheaper than what I'm currently paying. Anyone ever deal with claims thru Connect?
 

Atreyu

Member
Dec 12, 2019
125
120
Northern California
I looked at them, but (as I remember) Ameriprise wants to be able to directly debit your bank account and I wanted to have the bank send them a monthly check instead, so I moved on.

Life is too short to give companies direct access to your bank account.
Thanks guys. The wild swings between insurance companies is insane. We're talking $406 for Connect to $1800 for State Farm. I'm with esurance for now at $850...
 

TMThree

Active Member
Mar 28, 2019
1,116
1,603
USA
Here's my quotes for 6 months. 40 year old, zero accidents, never made a claim, home owner. Obviously rates vary based on individual and location. It's clear half of them don't want to insure a Tesla.

dairyland had the balls to email me later saying their rates are competitive and I should finish obtaining their insurance.

  1. Liberty Mutual Insurance $804 (online quote), but it became $1475 once an agent quoted
  2. mercury $775
  3. progressive $810
  4. esurance $870
  5. geico $993
  6. ameriprise (Costco) $994
  7. metlife $978
  8. amica $1099
  9. travelers $1158
  10. statefarm $1212
  11. farmers $1386
  12. safeco $1434
  13. general auto $1968
  14. american family ins $2085
  15. Chubb $2306
  16. dairyland ins $3340
 
  • Informative
Reactions: tbwnm

Atreyu

Member
Dec 12, 2019
125
120
Northern California
Wow!!! I only cycled thru esurance, progressive, amiga, state farm and AAA. I rent a home now but being in northern California I'm sitting on a huge downpayment but have renters insurance. My wife's car is paid off and I only owe 30% of what my car is worth at this point. Its definitely insane for a $60,000 car, it's cheaper to insure an Audi A6 or BMW 3 series.
 
  • Disagree
Reactions: M3BlueGeorgia

ucmndd

Well-Known Member
Mar 10, 2016
6,310
11,755
California
I’ve had Ameriprise/CONNECT for several years now, they were the lowest quote I received by far.

I also happen to be wrapping up a claim on my Model S right now. My wife was subjected to a gravel shower on the freeway - punctured the radiator, broke the windshield, two new headlights, new bumper, and hood / quarter panel repaint. Nearly $8k in damage - crazy.

So far CONNECT has been super easy to work with. No complaints so far. Car is supposed to be ready for pickup on Friday, fingers crossed...
 

Need

Active Member
Nov 22, 2017
2,878
2,196
SoCal
Anyone look into Tesla Insurance?

I did. Tesla Insurance actually gave me a lower quote than Costco Connect. It was just slightly lower. I decided to go with Connect. I was just not sure how well Tesla will handle claims and such. The other thing is that I have 3 cars, 2 of them are Tesla. If I go with Tesla, I have to split up my auto insurance.
 

Atreyu

Member
Dec 12, 2019
125
120
Northern California
I did. Tesla Insurance actually gave me a lower quote than Costco Connect. It was just slightly lower. I decided to go with Connect. I was just not sure how well Tesla will handle claims and such. The other thing is that I have 3 cars, 2 of them are Tesla. If I go with Tesla, I have to split up my auto insurance.
Tesla insurance is saying that my license isn’t even valid. Whatever that means. I can’t even update it.
 

Pied

Member
Jul 14, 2018
236
162
Bay Area, CA
Tesla insurance is saying that my license isn’t even valid. Whatever that means. I can’t even update it.

What I found out is that some info is linked from your Tesla account. Even though you can enter all the info into the boxes, it must match what is on your account. I had an old address on my account and it kept giving me an error every time I tried getting a quote. I went to my main Tesla login and updated the address and it worked after that.
 

fr100

Member
Dec 27, 2017
470
550
Northern CA
I currently have esurance and for my 2020 M3 and my wife's 2014 ICE vehicle, we are paying $850 for a 250/500/100 policy. I hopped on Costco online today after upgrading to an executive membership. They gave me the same coverage with $1000 deductible and it came up to $406! I'm not sure if its because it's thru Connect which is powered by American Family, but that's $450 cheaper than what I'm currently paying. Anyone ever deal with claims thru Connect?

$406 for 6 months?

I'm using Wawanesa. Been with them for 10 years and their rates are much lower than anyone else, even Tesla Insurance.
 

kaos

Member
Aug 23, 2018
42
5
Orange County
Been with Ameriprise/Connect for 2 years. Lowest premium by far, and have been great with glass claims, and med pay with respect to an accident that another company (USAA) accepted responsibility. I can highly recommend them.
 

smartypnz

Supporting Member
Jan 23, 2013
1,997
2,143
Monterey Peninsula
Uhhhh.... these prices mean nothing if the details of coverage aren't included.

I learned over years and talking to a neighbor who is an agent, they can quote you cheaper than anything you already have - but the coverage may also be less. And even comparing similar coverage, some companies will undercut the actual cost to get you and then make up for it when renewed.

Sam can sell you that can of beans for $5
Fred can sell you that can of beans for $2

Hint: Fred's can is much smaller
 

WASD

Member
Apr 11, 2019
185
119
Culver City
Uhhhh.... these prices mean nothing if the details of coverage aren't included.

I learned over years and talking to a neighbor who is an agent, they can quote you cheaper than anything you already have - but the coverage may also be less. And even comparing similar coverage, some companies will undercut the actual cost to get you and then make up for it when renewed.

Sam can sell you that can of beans for $5
Fred can sell you that can of beans for $2

Hint: Fred's can is much smaller

Not only the coverages, but age, driving history, car year, model, msrp, etc. all affect it as well.

I got my quote from Costco using coverages equal to what I have through Tesla ins/ and Costco was ~$225/mo vs $122/mo I pay now.

I had Geico, then Mercury (bundle with house Ins.) and now Tesla. Nobody quoted even close to what Tesla is giving me. Not even Wawanesa.
 

ucmndd

Well-Known Member
Mar 10, 2016
6,310
11,755
California
Uhhhh.... these prices mean nothing if the details of coverage aren't included.
Of course. Insurance is rarely if ever an apples/apples sort of comparison, and there are way too many coverage/personal/geographic variables. That said, here's my current CONNECT declarations page if it helps anyone. Rural CA, two mid-40s drivers with clean records, 250/500 coverage and $1k deductibles. As I mentioned up-thread, we've had two not at fault claims with them, one on the Tesla and one on another car, and they've been pleasant and easy to deal with each time.

I've been with them for four years and the premium has been very consistent - very little inflation over time.


Screen Shot 2020-11-03 at 3.22.20 PM.png
 
Last edited:

Atreyu

Member
Dec 12, 2019
125
120
Northern California
Of course. Insurance is rarely if ever an apples/apples sort of comparison, and there are way too many coverage/personal/geographic variables. That said, here's my current CONNECT declarations page if it helps anyone. Rural CA, two mid-40s drivers with clean records, 250/500 coverage and $1k deductibles. As I mentioned up-thread, we've had two not at fault claims with them, one on the Tesla and one on another car, and they've been pleasant and easy to deal with each time.

I've been with them for four years and the premium has been very consistent - very little inflation over time.


View attachment 605226
That’s what I got too! Seriously half of what Esurance is giving me. Not sure if it’s because I’m an executive member.

then again they’re making me jump thru hurdles because I claimed both vehicle’s accumulate less than 10,000 miles a year, which they do.
 

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