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Car Insurance

Discussion in 'Model S' started by Ferrett, Mar 25, 2016.

  1. Ferrett

    Ferrett Member

    Joined:
    Mar 20, 2016
    Messages:
    52
    Location:
    San Jose, CA
    State Farm just quoted me over $2000+ on my new Tesla and I'm wondering what you guys are paying.
    I've got a clean record and was surprise that price got that high. What insurance company
    are you using? Any good deals out there? Suggestions?
     
  2. brkaus

    brkaus Member

    Joined:
    Jul 8, 2014
    Messages:
    936
    State Farm just quoted me $120 per month over a 2004 BMW 330ci
     
  3. Ingineer

    Ingineer Electrical Engineer

    Joined:
    Aug 8, 2012
    Messages:
    1,400
    Try the smaller companies that don't have much experience with many Teslas. That's the best deal. Some of the bigger players now consider Tesla an "Exotic" because of Tesla's policies that are making the cars expensive to repair after even minor accidents.
     
  4. acuma50

    acuma50 New Member

    Joined:
    Mar 25, 2016
    Messages:
    1
    Location:
    New Jersey
    That sounds high but I'm on the east coast so I'm not sure if this is a good comparison. GEICO in NJ quoted me $650 for 6 months for comprehensive and collision. The exact model (70D, 90D,P90D,etc.) didn't seem to matter, which I thought was surprising given the significant difference in cost between a 70D and P90D. I can reduce it another $70 by completing a defensive driving course. For a reference point, it's 3 times more expensive than the same coverage for my 2015 BMW that costs about 60% as much as my Tesla. There's the typical Tesla mark up that I'm sure you've noticed at every step of ownership. I call it the "Tesla tax".
     
  5. RandyS

    RandyS Fan of Elon

    Joined:
    Jul 8, 2012
    Messages:
    360
    Location:
    San Diego
    Ameriprise (from Costco's home page)...

    2011 LEAF, 2000 Honda Odyssey Van, and 2013 Model P85. $650 every six months. Without the Tesla, $287 every six months, so the Tesla runs about $363 every six months. Full coverage...
     
  6. dlv1984

    dlv1984 Amp'd

    Joined:
    Feb 23, 2016
    Messages:
    32
    Location:
    Davis, CA
    I got a Geico quote for $445 for 6 months and AAA quoted me $620 for 6 months. I also spoke with Farmer's and Progressive but both of them were about $1000/6mo.
     
  7. JeffS

    JeffS Member

    Joined:
    Oct 7, 2015
    Messages:
    239
    Location:
    Wisconsin
    My main carrier for home, auto, umbrella, boats, etc., didn't want to insure my Tesla. They indicated this by quoting $3000 a year. They don't think anyone is stupid enough to pay that - it's just their way of saying no thank you. I moved my boats and my Tesla to Geico.
     
  8. kort677

    kort677 Active Member

    Joined:
    Sep 17, 2015
    Messages:
    1,861
    Location:
    florida.
    car insurance is a very personal and unique to you product. there are many factors beyond the car and your driving record involved in the equation. where you live, your age, your financial history, your commute distances all come into play. so while asking and getting a range of what others pay can give you an idea of what rates are you may be unable to match some of the lowest rates that people will post.
     
    • Like x 3
  9. srthomas21

    srthomas21 Member

    Joined:
    Sep 1, 2015
    Messages:
    144
    Location:
    Utah, United States
    State Farm quoted me $1200 per year. Not sure why your's is higher. Do you have Performance model?
     
  10. Endoplasmic

    Endoplasmic Member

    Joined:
    Feb 19, 2016
    Messages:
    20
    Location:
    SJ, CA
    We did Geico for the Tesla. We shopped around and they were the best.
     
  11. SageBrush

    SageBrush Active Member

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    May 7, 2015
    Messages:
    1,679
    Location:
    Colorado
    Yep, and more: you can keep the car, owner, and insurance the same, and find huge price differences in different locales that have similar demographics. I gather this happens because insurance is computed across regions for each issuer. If they have a bad year in a region, they decide arbitrarily who to tap to get the profits up again.

    So the short answer is call lots of companies, or perhaps try a broker. But do not expect any kind of consistency.
     
  12. dabbler

    dabbler Member

    Joined:
    Nov 30, 2015
    Messages:
    52
    Location:
    Mukwonago. WI
    I spent the greater part of a week getting quotes from several insurance companies. My broker was able to lock in a quote from Progressive and the final cost was $100 more per year for the Model S than my current annual premium. My former carrier's quote was double my current premium. They should have just said that they were not interested. They ended up loosing all of my business over one car change.
    I suspect that I will be shopping for insurance in the near future as the insurance industry becomes educated as to the costs of repairs for the Model S and starts to pass that cost on to the customer in the form of higher premiums.
     
  13. SageBrush

    SageBrush Active Member

    Joined:
    May 7, 2015
    Messages:
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    Location:
    Colorado
    I would not be so quick to accept the notion that insurance should be expensive for a Tesla.
    While (I gather it's) true that car repairs are much more expensive, the weight of insurance costs is due to repair of the humans involved, and that is very much a reflection of car safety engineering and driver behavior.

    If people are getting into accidents while playing with ludicrous mode e.g., *that* will lead to rates skyrocketing.
     
  14. Edmond

    Edmond Permanon

    Joined:
    Mar 5, 2016
    Messages:
    482
    Location:
    Seattle
    The fact is the Tesla certified body shops have a monopoly, and the parts cannot be bought by mortals. This means that ALL insurance companies' rates are going up, right now, and will continue to go up.
     
  15. Patrick W

    Patrick W Member

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    Mar 17, 2015
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    Location:
    SLC, UT
    I started with Allstate since I've been with them for years with my other vehicles. But after Progressive quoted about a third the cost of Allstate for the same coverage except a few hundred dollar higher deductible I switched the S's coverage to them.
     
  16. coreconcept

    coreconcept Member

    Joined:
    Oct 10, 2015
    Messages:
    11
    Location:
    AZ
    I have been with Progressive since 2004. I got my Tesla 85D late December 2015. My first full 6 months has cost $400. Paying all at once saved me $75 or so. I didn't shop around as I think this is a good deal.
     
  17. dbullard

    dbullard Member

    Joined:
    Jul 31, 2012
    Messages:
    160
    Check with your local Tesla-approved body shop - ask them which insurance companies are good about paying. I dropped State Farm when they tried nickel-and-diming on my claim - paying 1/4 what it cost to fix it after deductable - had to take them to arbitration (won), then dropped them. Not the first time they've done that to me (in two states), so it's not just a local thing.

    Body shop said this happens all the time with certain companies, they'll be able to tell you which.
     
  18. CHG-ON

    CHG-ON Still in love after all these miles

    Joined:
    Jun 24, 2014
    Messages:
    2,754
    Location:
    Santa Cruz Mountains, USA
    I'm using Allied through my broker. about 1,350/yr. Full coverage. Happy to connect you if you would like.
     
  19. Jeremy Aber

    Jeremy Aber Member

    Joined:
    Sep 8, 2015
    Messages:
    8
    Location:
    Boca Raton, FL
    I used to use GEICO, but they just took my rate up a lot. I shopped around and saved a bunch with Progressive. I am in FL, so it may be FL thing.
     
  20. JPUConn

    JPUConn Member

    Joined:
    Aug 11, 2014
    Messages:
    352
    Location:
    CT
    I just ran a quote through my insurance company (MAPFRE) and they informed my agent that starting in May the company is going to cancel all policies on Tesla vehicles. He said that other insurance companies that he sells are doing the same thing and it is resulting in a major increase in insurance costs by the carries that will still write for the car.
     

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