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Battery replacement cost for insurance

Discussion in 'Model S: Battery & Charging' started by Mario Kadastik, Sep 5, 2013.

  1. Mario Kadastik

    Mario Kadastik Active Member

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    Has anyone had a battery replacement? As part of an insurance case or something similar, not as a warranty replacement. My insurance is extremely skeptical about the costs and want to know what replacing the battery costs as they're really afraid of this single cost. I'm trying to convince them that repairing an ICE car that has a frontal crash will be FAR more expensive if in comparable purchase price bracket, but they want more concrete numbers...
     
  2. GasDoc

    GasDoc Member

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    After my accident, I was told the replacement cost for the 60kwh battery was $35,000
     
  3. CalDreamin

    CalDreamin Member

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    The replacement cost (new list price) for a BMW M5 engine is a bit north of $30K. The M5's 7-speed dual-clutch transmission probably costs a lot more than a Camry tranny. Do insurance companies insist on knowing these specifics before agreeing to insure all premium sedans?
     
  4. Robert.Boston

    Robert.Boston Model S VIN P01536

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  5. AmpedRealtor

    AmpedRealtor Active Member

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    There are plenty of insurance companies who will insure your Model S without any problems, and at a low cost:

    The Hartford (least expensive at $1,000/yr)
    Progressive (approx. $1200/yr)
    Geico (approx. $1200/yr)

    This is for P85 with 100/300 coverage, windshield replacement, rental and roadside coverage.

    Mercury Insurance, which was cheapest for my other vehicles, was the biggest rip-off on the Model S at over $3,000/yr.
     
  6. mknox

    mknox Well-Known Member

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    FWIW, my Model S (see configuration below) ended up costing less for insurance than my '09 Cadillac CTS.
     
  7. bluetinc

    bluetinc Member

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    Perhaps this has to do with his location of Estonia...

     
  8. yobigd20

    yobigd20 Well-Known Member

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    yep. insurance for my fully loaded P85 was much cheaper than for my previous vehicle (range rover evoque) even though the Model S costs more than twice the price of the Evoque. insurance is a funny thing....
     
  9. Bobfitz1

    Bobfitz1 Member

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    yobigd20, as you are from my state (NJ), may I ask which insurance company you are using for your P85? My commuting car has long been insured by State Farm. When I got my 2010 Roadster Sport, adding it was an add'l 1400 per year. I'm hoping to replace the old Acura with a Model S next year, so my total auto insurance will no doubt go even higher then.
     
  10. liuping

    liuping Active Member

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    #10 liuping, Sep 5, 2013
    Last edited: Sep 5, 2013
    I was with State Farm for probably 15 year. In the past when I checked, they had the same or a better price than others companies. I must have been in a sweat spot for their rates.

    A few weeks ago I called for a Model S quote and for a quote for adding my 16 year old Daughter. I'm glad I checked both at the same time! The Model S added $2100 a year. My daughter added $2400 a year. I tried both together and my rates increased $8000 per year! They said it was because she "could" drive the Model S (yeah right, over my dead body!). The person I was talking to even said I should probably go elsewhere, she was embarrassed by the price. What a way to treat long time customer.

    I changed to Geico that weekend, even before I get my Model S. They quoted me only $1100 extra per year for the Model S, and when I add my Daughter and Model S my total insurance will be around $3000 per year. That is less than 1/3 what State Farm wanted!
     
  11. yobigd20

    yobigd20 Well-Known Member

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    progressive. the quote I got from state farm was really high, and geico was beyond absurd. you'll like this thread, follow the instructions at the top and you'll easily be able to see who is likely going to give you the cheapest rates in NJ by zip code and insurance profile: http://www.teslamotorsclub.com/showthread.php/14203-New-Jersey-Auto-Insurance-Rate-Comparison?p=282916#post282916

    - - - Updated - - -

    and btw, to add the P85 to my progressive policy was only between $350-$450/6mo. I was very surprised how cheap it was. So cheap I increased a few limits and got smaller deductible and added windshield replacement insurance.
     
  12. Mario Kadastik

    Mario Kadastik Active Member

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    Somehow doubt they'd insure me knowing I'm in Estonia and even if they did, all local Financing companies REQUIRE the insurance company to have an office in Estonia.
     
  13. Bobfitz1

    Bobfitz1 Member

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    Thanks yobigd20! I owe you one! Switching might save me some dollars towards my "Model S - Clean Air Fund"!
     
  14. FlasherZ

    FlasherZ Sig Model S + Sig Model X + Model 3 Resv

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    You will hear the same thing from most insurance companies / agents / brokers. Many of them carry other options in case their own underwriting formulas don't work out (Nationwide, for example, will sell you insurance through Progressive if their own underwriters can't get a reasonable price). I got the same thing from State Farm on my bucket trucks - they refused to write me a policy without liability coverage on the boom, and that was a $4,000 a year policy. Because I use these trucks in the orchard - and only need road insurance when they're being serviced - State Farm suggested I go through Progressive, who wrote me a commercial liability policy for $300/yr.

    State Farm is a mutual insurance company, owned by the policyholders. It's not owned by investors, so you find there's a pretty tight alignment between value to policyholders (vs. shareholders) and corporate policy. Just as an anecdote, employees of State Farm aren't even guaranteed acceptance for insurance, don't get discounts, and must go through the same processes as any other customer (or so says a couple of the employees I know at HQ).

    My price for the Model S under State Farm coverage is about $1100/year (it's important to know that I carry 2 other auto policies and a home policy with them, so discounts play a part).

    As for teenagers and the Model S, most insurance companies have the ability to name an exclusion on a particular car for a particular driver.
     
  15. aviators99

    aviators99 Model S - R140

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    I just got a quote for a new battery (85kWh). It's $45,037.02 (including $472.50 in labor).
     
  16. steve841

    steve841 Active Member

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    Serious labor rate for a replacement that can be done in under 90 seconds ... :confused:
     
  17. Mario Kadastik

    Mario Kadastik Active Member

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    Got a quote for 85kWh battery from Tesla, it's 44k eur + shipping and labor. However other prices were nicely low. Front bumper 840 eur, side windows ca 120 eur, windshield 960 eur, hood 1200 eur.
     
  18. mknox

    mknox Well-Known Member

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    Well, we do know that Supercharging is free, but that a battery swap would cost. I guess now we know how much :wink:

    - - - Updated - - -

    Have to ask... Why did you get a quote? Do you have a damaged battery or something?
     
  19. Mario Kadastik

    Mario Kadastik Active Member

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    My insurance wanted to know how much the battery costs :) Not sure I should give it to them as I doubt it'll improve the quote.
     
  20. mknox

    mknox Well-Known Member

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    Just give them the price of the 12 volt battery... :tongue:
     

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