Best Car Insurance for New Model 3?

[berkowitzbt]

I'm a GEICO customer in New Jersey, have been for 14 years, and they just guesstimated me $250 a month for a new M3 (LR AWD, VIN still pending).

Amica quoted $175 a month, Ameriprise quoted $187 a month - and then Progressive quoted $107 a month. So it definitely pays to shop around for these things.

 

[mattseba]

Hello,

So today, I set up my Tesla pick up date for next week! I am very excited but I still have to do all the paper work with my bank. I wanted to see if anyone can help or are in a similar situation and could provide insight.
What is the best Tesla car insurance (other than the one that Tesla offers) for a 22 year old male, with no dings on their driving record?

I [24M] got a great rate from Progressive. I was with Allstate but they quoted me $1300/6 months (I live in Michigan, terrible insurance rates). Progressive is $650/6 months. Granted I have one other car on my policy and a home but a clean driving record.

 

[Fresnel]

I'm a GEICO customer in New Jersey, have been for 14 years, and they just guesstimated me $250 a month for a new M3 (LR AWD, VIN still pending).

Amica quoted $175 a month, Ameriprise quoted $187 a month - and then Progressive quoted $107 a month. So it definitely pays to shop around for these things.

I had to up my deductible to 1k and change stuff around a bit with GEICO to get it more reasonable... I think I'm at around 180 a month

 

[ofcorona]

Insurances can't tell if the The Model 3 is Long Rage or Performance.
So rates are the same on both.

 

[Knightshade]

Insurances can't tell if the The Model 3 is Long Rage or Performance.
So rates are the same on both.

This stopped being true late last year- the Performance now has it's own, unique, identifier in the VIN.

 

[PhiREflY]

I'm paying $80 per month with USAA. Two drivers, both 40 years old. 2020 Model 3 Long Range AWD.

 

[vickh]

My best advice to you is to contact an independent insurance agent who can provide quotes from several companies. Try to find one who sells Mercury Insurance among the carriers.

Many folks here will offer well-meaning advice based on their personal insurance carrier and policy...but the fact is, only someone who lives near you in San Antonio and is close to your age can offer any concrete numbers for you to compare.

Agree about independent insurance agent, but there's got to be good online solutions for this problem.

 

[SurfcasterPE]

Timely topic. We just got our quote today to add our ordered M3. We don't have a VIN yet and didn't mention it's a Performance. (2) 40-somethings with clean records is $435/6-months with our existing State Farm. We also added our just licensed 16YO that doubled our existing rate. Ouch. Going from ~$500 to about 1450, probably more if/when they figure out it's a P. We'll be shopping around. Will check with USAA 1st.

 

[vickh]

This stopped being true late last year- the Performance now has it's own, unique, identifier in the VIN.

how about the SR?

 

[Knightshade]

how about the SR?

Far as I know there's only 3 ID letters-8th digit in the VIN (and the C is new for 2020 models that began delivery in late 2019)

A=RWD (any version)
B=AWD non-P
C=Performance (+ or -)

Prior to the 2020s it was only A or B to indicate 1 motor or 2.

 

[vickh]

Far as I know there's only 3 ID letters-8th digit in the VIN (and the C is new for 2020 models that began delivery in late 2019)

A=RWD (any version)
B=AWD non-P
C=Performance (+ or -)

Prior to the 2020s it was only A or B to indicate 1 motor or 2.

that's strange that the trims aren't differentiated. How does the insurance company know whether you have a 36k SR or any higher AWD etc. Not just for premiums, but replacement value.

 

[Watts_Up]

that's strange that the trims aren't differentiated. How does the insurance company know whether you have a 36k SR or any higher AWD etc. Not just for premiums, but replacement value.

I don't think that 2WD versus 4WD really interest insurance companies.

When getting a quote, you need to indicate the price you paid and any additional options.

Driver age and driving history is certainly a major component.

Medical coverage is the most important. One day in emergency care in an hospital might be higher than the value of a replacement car.

 

[Knightshade]

When getting a quote, you need to indicate the price you paid and any additional options.

I didn't.

They literally just asked for my VIN.

Possibly in some states they have access to DMV registration so they can pull trim details from that- but they still wouldn't know if for example I got EAP, FSD, and accel boost on the car.

 

[vickh]

I didn't.

They literally just asked for my VIN.

Possibly in some states they have access to DMV registration so they can pull trim details from that- but they still wouldn't know if for example I got EAP, FSD, and accel boost on the car.

my point exactly. I didn't either with USAA.

DMV here in AZ does have MSRP access, but not for options.

 

[vickh]

I don't think that 2WD versus 4WD really interest insurance companies.

When getting a quote, you need to indicate the price you paid and any additional options.

Driver age and driving history is certainly a major component.

Medical coverage is the most important. One day in emergency care in an hospital might be higher than the value of a replacement car.

I agree about med. coverage $$ point but my question is more about replacement value

 

[The_Observer]

I am a 23 year old male with a M3 SR+, used to pay almost $300 a month with Allstate... now switched to Tesla insurance, still paying for $210 a month, but my coverage is rather higher than the recommended coverage in terms of amount, just in case.

I would look around for all the companies for quotes, somehow Tesla Insurance worked out for me in the end.

 

[SurfcasterPE]

Timely topic. We just got our quote today to add our ordered M3. We don't have a VIN yet and didn't mention it's a Performance. (2) 40-somethings with clean records is $435/6-months with our existing State Farm. We also added our just licensed 16YO that doubled our existing rate. Ouch. Going from ~$500 to about 1450, probably more if/when they figure out it's a P. We'll be shopping around. Will check with USAA 1st.

Update. New quotes from USAA, Geico, Esurance, Progressive, Liberty Mutual, along with our existing State Farm. Progressive was the lowest by far for our situation. M3P plus full coverage on 2 more vehicles with a brand new driver in the house - $1044/6months. Not terrible. Esurance was $2400!

Side note- just got the text that our M3 will be built in the next 2 weeks! Woohoo!

 

[ofcorona]

Update. New quotes from USAA, Geico, Esurance, Progressive, Liberty Mutual, along with our existing State Farm. Progressive was the lowest by far for our situation. M3P plus full coverage on 2 more vehicles with a brand new driver in the house - $1044/6months. Not terrible. Esurance was $2400!

Side note- just got the text that our M3 will be built in the next 2 weeks! Woohoo!

wawensa gave me 167$ a month. 22 , 5 years of driving, no accidents M3P. Waiting for my vin to see Tesla quote. Progressive was 220$ a month

 

[lozza]

I second Costco Ameriprise... $1,200 for 6 months for M3P, Bolt and new truck

 

[OCR1]

Make sure you review your rental car coverage on any quotes you get. Most policies only cover the first $600. If you have an accident in your Tesla you may find yourself without a car for several months. Rental car costs can add up quickly.