Best insurance for Tesla Model S 2018

[boonedocks]

Get a quote from Encompass as well. Include your home, if you own one, and package everything together. We have an umbrella policy and are required to have even higher benefits that you have in your OP and our total insurance for a 2017 MS100D and 2017 MX75D is $2,713 annually. That is for both cars. Also ask for a quote with a $1,000 deductible. That can make a marked reduction with some providers.

 

[dcmetro]

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

I would add one more thing. Given how long repairs are currently taking on a Tesla (like 2 of months had to wait from 2-4 months on parts), find out the max rental coverage. I found Geico's coverage for a max $1500 and Progressive only at $900. That could add a good cost (out of pocket) if you're out of car for that long.

 

[Manzacoty]

I tried all the carriers and a broker ended up being my best bet. She's dubbed as the "Tesla broker".

Jennifer Silva l Vice President, Personal Risk Advisor
Aon Private Risk Management Insurance Agency, Inc.
5555 San Felipe | Suite 1500 | Houston, TX 77056
Direct: 832-476-5854 | Cell: 702-203-6316
E-Fax: 312-381-9062
Toll Free: 866-225-5266
[email protected] | aon.com

 

[dcmetro]

I tried all the carriers and a broker ended up being my best bet. She's dubbed as the "Tesla broker".

Jennifer Silva l Vice President, Personal Risk Advisor
Aon Private Risk Management Insurance Agency, Inc.
5555 San Felipe | Suite 1500 | Houston, TX 77056
Direct: 832-476-5854 | Cell: 702-203-6316
E-Fax: 312-381-9062
Toll Free: 866-225-5266
[email protected] | aon.com

Whom did she land as the eventual insurance company for you?

 

[Manzacoty]

Whom did she land as the eventual insurance company for you?

AIG - on an agreed value policy. Agreed value is about $15k more than I paid for my Model S over a year ago. Cost was only $100 more than esurance annually.

 

[EricLangheim]

I currently have Liberty Mutual for both my home and car insurance. I assumed that since Liberty Mutual is the partner with "InsureMyTesla" that they would have good rates. Bad assumption. I live in northern NJ, we are home owners, and have a clean driving record. Liberty Mutual quoted me $3034 annually to add the Tesla Model S 75D we ordered and a family car with both my wife and I on the policy. Progressive quoted me $1546 annually, with the same and slightly better coverage details. I checked Geico too, they were closer to Progressive, but more expensive (around $1850 per year). I might have gotten Geico a little lower if I'd added the home insurance to the package, but I had already figured out Progressive was going to be cheaper overall, and their website worked better and gave line item transparency on the quoting functionality. I went with Progressive.

I should get my first Tesla in 2-3 weeks, it is currently in production!

 

[Ketchups]

I would add one more thing. Given how long repairs are currently taking on a Tesla (like 2 of months had to wait from 2-4 months on parts), find out the max rental coverage. I found Geico's coverage for a max $1500 and Progressive only at $900. That could add a good cost (out of pocket) if you're out of car for that long.

I never even bother with rental reimbursement, it's just not worth it. Besides, if you are not at fault for the accident, the other party is liable.

Progressive claims were hassle free, geico not so much. I likely will switch back to progressive, from geico soon, unless there is another provider that is wayyyy cheaper.

 

[EricLangheim]

I currently have Liberty Mutual for both my home and car insurance. I assumed that since Liberty Mutual is the partner with "InsureMyTesla" that they would have good rates. Bad assumption. I live in northern NJ, we are home owners, and have a clean driving record. Liberty Mutual quoted me $3034 annually to add the Tesla Model S 75D we ordered and a family car with both my wife and I on the policy. Progressive quoted me $1546 annually, with the same and slightly better coverage details. I checked Geico too, they were closer to Progressive, but more expensive (around $1850 per year). I might have gotten Geico a little lower if I'd added the home insurance to the package, but I had already figured out Progressive was going to be cheaper overall, and their website worked better and gave line item transparency on the quoting functionality. I went with Progressive.

I should get my first Tesla in 2-3 weeks, it is currently in production!

Out of curiosity I just priced State Farm out with the same coverage, they were the most expensive by far. They quoted $4500 per year for the same coverage details. I saw they were advertising on Teslarti so I tried it, no way!

 

[JMG]

AIG - on an agreed value policy. Agreed value is about $15k more than I paid for my Model S over a year ago. Cost was only $100 more than esurance annually.

I'm an insurance broker (and Tesla owner) with access to AIG, Nationwide, and several other markets that write Teslas. Agreed value, new car replacement, etc.

Good for you for going with a broker instead of a website.

Bad for you for not going with me.

 

[dgpcolorado]

...Progressive claims were hassle free, geico not so much. I likely will switch back to progressive, from geico soon, unless there is another provider that is wayyyy cheaper.

I was wondering about Progressive and claims. Progressive and Travelers seem to be the best priced for me. I'm leaning toward Travelers since they should also do house insurance (Progressive won't, where I live). However, I do wonder about how they would be in handling claims.

My insurance company (Electric Insurance) raised my rates by a lot despite a clean record, having been with them for over a decade, and the fact that my car is getting older and is worth a lot less than when I bought it. I presume that some of it is just me getting older but it may be that the company has had expensive claims for Teslas or something like that. Regardless, I've been shopping around and need to switch. I do worry that the quotes I'm getting are just teasers and that they'll raise rates for the next renewal; having to switch every six months or a year would be a nuisance!

 

[dbullard]

Go to your local Tesla-certified body shop - ask THEM which is the company easiest to deal with. Then go from there on price.

 

[bnsfengineer]

We get a good rate from WAWANESA, have been with them for years.

Same with me they beat everyone's price by at least 20%

 

[Elsa05]

I tried all the carriers and a broker ended up being my best bet. She's dubbed as the "Tesla broker".

Jennifer Silva l Vice President, Personal Risk Advisor
Aon Private Risk Management Insurance Agency, Inc.
5555 San Felipe | Suite 1500 | Houston, TX 77056
Direct: 832-476-5854 | Cell: 702-203-6316
E-Fax: 312-381-9062
Toll Free: 866-225-5266
[email protected] | aon.com

@Manzacoty, called Jennifer. She told she is checking with different providers. As of now, still waiting for her reply.

 

[Elsa05]

Thanks everyone for the replies. I really appreciate it.
Just want to share update. I am picking the car on March 1st
For now, decided progressive as they provided the cheapest price (got gap insurance fro lender)

 

[Rockster]

The cheapest way to get insurance is to go to one of those "insurance by the month" places and buy a month's worth of insurance. During that month, renew your inspection, registration, etc. while you have insurance. Then, let your coverage lapse for the other 11 months of the year and drive without insurance, placing all the financial burden on those you smash into. It's fun and exciting, it's all too common in these parts, and it's a great way to pass your personal responsibility on to others!

(Sorry. Was that my out loud voice? My filters don't seem to be working properly today.)

 

[Elsa05]

The cheapest way to get insurance is to go to one of those "insurance by the month" places and buy a month's worth of insurance. During that month, renew your inspection, registration, etc. while you have insurance. Then, let your coverage lapse for the other 11 months of the year and drive without insurance, placing all the financial burden on those you smash into. It's fun and exciting, it's all too common in these parts, and it's a great way to pass your personal responsibility on to others!

(Sorry. Was that my out loud voice? My filters don't seem to be working properly today.)

lol

 

[Elsa05]

lol

I really cant afford that risk..am on my work visa to add to that

 

[EVSteve]

The cheapest way to get insurance is to go to one of those "insurance by the month" places and buy a month's worth of insurance. During that month, renew your inspection, registration, etc. while you have insurance. Then, let your coverage lapse for the other 11 months of the year and drive without insurance, placing all the financial burden on those you smash into. It's fun and exciting, it's all too common in these parts, and it's a great way to pass your personal responsibility on to others!

(Sorry. Was that my out loud voice? My filters don't seem to be working properly today.)

lmao for a second I thought you were from Florida. The 'rear end with no insurance coverage' capital of the united states.

 

[Manzacoty]

@Manzacoty, called Jennifer. She told she is checking with different providers. As of now, still waiting for her reply.

Hmmm. Sorry. She was quick with me!

 

[racerx43]

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

Esurance is powered by Allstate not Geico