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Best insurance for Tesla Model S 2018

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Hi,
I ordered a new Tesla Model S and expecting delivery of the car in 20 days approximately.
Shopping for good auto insurance.
Got quotes from for the same coverage as below:

Bodily Injury - 100,000 / 300,000
Property Damage - 100,000
Medical Payments - 1,000
Uninsured/Underinsured Motorist Bodily Injury - 100,000 / 300,000
Deductibles:
Comprehensive - 500
Collision - 500
Underinsured Motorist - Yes

These are the quotes from different companies:
Statefarm (No Gap insurance) : 309/month
Progressive (No Gap insurance) : 956/6 months
Called AAA but they offered Travelers (Inclusive of Gap insurance and New car replacement) : 2944/year
Costco Ameriprise (No Gap insurance) : 1200/6 months
Liberty Mutual (No Gap insurance) : 380/month
Amica (Gap insurance) : 3500/12 months
Geico (No Gap insurance) : 358/month

Note: I can take gap insurance from my bank for $300 one time initial payment and $6 every month if insurance company is not offering

In the blogs related to Tesla claims, mostly every company got very bad reviews when it comes to Tesla claims. I haven't seen bad review for Amica. But its very expensive quote compared to everything on list.

I like to go with Progressive (as its the cheapest) or Ameriprise (as its the cheap and through Costco) or Travelers ( because it includes gap insurance and New car replacement ).

But I am not able to decide based on negative reviews. Amica is just too expensive even though it has best ratings.

Additinal info:


Any suggestions/thoughts are appreciated.

Thanks,
 
  • Informative
Reactions: b team and spectrum
Wow - you are certainly doing your research! As you probably know, everyone's individual situations are different for calculating premiums. That being said, I would encourage getting a quote from Esurance (assuming they offer auto coverage in your state). I've found them to be very inexpensive and high value.

I pay about $650/6 months for a 2017 Model S and a 2014 Mercedes GL550. This gives me 250K/500K coverage with $500 deductible. We also have our home insured with them.
 
  • Like
Reactions: MelaniainLA
Try Nationwide. No gap insurance in NY but you can get the new car replacement that covers upto 115% of the MSRP.

Honestly, if the bank was offering it, I would buy the gap insurance directly for $300. That way, if the rates go up with your insurance provider, you can switch without worrying about losing gap insurance.
 
  • Like
Reactions: MelaniainLA
This is a great thread. Quite an eye opener that MS insurance is quite expensive. My MS is coming in approx 6 weeks so I have some time but I'll start with Geico (my current provider) to get a sense of where my #s will stand.
 
Wow - you are certainly doing your research! As you probably know, everyone's individual situations are different for calculating premiums. That being said, I would encourage getting a quote from Esurance (assuming they offer auto coverage in your state). I've found them to be very inexpensive and high value.

I pay about $650/6 months for a 2017 Model S and a 2014 Mercedes GL550. This gives me 250K/500K coverage with $500 deductible. We also have our home insured with them.

@ professortech,
Thanks for the quick response.
Esurance told they don't offer insurance to tesla as of now in FL.
 
  • Disagree
Reactions: MelaniainLA
Try Nationwide. No gap insurance in NY but you can get the new car replacement that covers upto 115% of the MSRP.

Honestly, if the bank was offering it, I would buy the gap insurance directly for $300. That way, if the rates go up with your insurance provider, you can switch without worrying about losing gap insurance.

@Red_DS,
Looks like Nationwide provides insurance through other agencies in Tampa. I will still try with them.Are they good during claims processing?
 
Don't use Geico. I was with them for 12 years and they just jacked up my premium by $400 (6mth). They didn't give me any other explanation other than medical costs, repair cost increases, blah blah, etc etc. I didn't have any tickets or accidents. Switched over to USAA and saved some good money. Sorry you can't do it.
 
  • Like
Reactions: MelaniainLA
@Red_DS,
Looks like Nationwide provides insurance through other agencies in Tampa. I will still try with them.Are they good during claims processing?
Esurance is owned by GIECO, and underwritten by the same. GIECO has been the cheapest quote for me, at least in Cali... im a fairly young driver though. Had to drop Allstate after ten years. 900 every 6 vs 2300 every 6 didnt pencil :)
 
Hi,
I ordered a new Tesla Model S and expecting delivery of the car in 20 days approximately.
Shopping for good auto insurance.
Got quotes from for the same coverage as below:

Bodily Injury - 100,000 / 300,000
Property Damage - 100,000
Medical Payments - 1,000
Uninsured/Underinsured Motorist Bodily Injury - 100,000 / 300,000
Deductibles:
Comprehensive - 500
Collision - 500
Underinsured Motorist - Yes

These are the quotes from different companies:
Statefarm (No Gap insurance) : 309/month
Progressive (No Gap insurance) : 956/6 months
Called AAA but they offered Travelers (Inclusive of Gap insurance and New car replacement) : 2944/year
Costco Ameriprise (No Gap insurance) : 1200/6 months
Liberty Mutual (No Gap insurance) : 380/month
Amica (Gap insurance) : 3500/12 months
Geico (No Gap insurance) : 358/month

Note: I can take gap insurance from my bank for $300 one time initial payment and $6 every month if insurance company is not offering

In the blogs related to Tesla claims, mostly every company got very bad reviews when it comes to Tesla claims. I haven't seen bad review for Amica. But its very expensive quote compared to everything on list.

I like to go with Progressive (as its the cheapest) or Ameriprise (as its the cheap and through Costco) or Travelers ( because it includes gap insurance and New car replacement ).

But I am not able to decide based on negative reviews. Amica is just too expensive even though it has best ratings.

Additinal info:


Any suggestions/thoughts are appreciated.

Thanks,

I have state farm with mine. I have my coverage almost the same except I have the policy stacked with my other vehicle giving me 200,000/600,000 if needed. I also have my comp a $0 and collision at $250. Runs me about $140/month.
 
For me, Geico (my current company) is the best with Progressive right behind. Ameriprise is $200 higher for 6-months and Esurance is insane to even consider. I may just stick with Geico, unless the renewal brings some surprises :)