Does Insurance Change When Upgraded 60kw - 75kw Battery?

[shantastik]

Hello;

I'm super excited as I'm taking delivery of my very first Model S this Saturday. I ended up getting an inventory car, so everything is happening quickly. I just ordered yesterday and the inventory car happened to be located close to me. I will have the car 5 days after I ordered it. Amazing!

I had already gotten a few insurance quotes. Right now Geico and Ameriprise (Costco) are the best. I've seen some terrible reviews for Ameriprise, so I'm leaning towards Geico.

This is a general insurance question regarding expandable battery packs. I'm getting the Model S 60D and my 6 month rate is just about $600 per year higher than my 10 year old Mercedes SUV -- not bad at all.

My question is when and if I later pay the fee to expand the battery pack to 75kw, will this change my insurance rate OR will I need to notify the insurance company when that occurs. I'm guessing no but I've learned so much reading these forums and know that it never hurts to ask!

SB

 

[shantastik]

To clarify -- my insurance will only be $600 per year higher with the new Model S.

 

[JohnnyG]

Based off of my experience working with agents and underwriters, they shouldn't increase your rate at all. The hardware is all completely identical, so there is no increase in pay-out for repairs or if it becomes totaled. There is no significant increase in performance, so no increase in risk of damage due to irresponsible driving.

 

[gabeincal]

But there is an increase in market value technically. Also, what happens if you total your 75? You get a 60?

 

[JohnnyG]

But there is an increase in market value technically. Also, what happens if you total your 75? You get a 60?

Okay, true, true.... Very good point! Repair costs would not be increased, but totaled payout value would... In this case, I would contact your insurance and let them know. It probably depends on how that individual insurer chooses to write it up. At that point it is technically an upgrade modification. My underwriter allowed me up to a certain dollar amount in upgrades, so long as I supplied receipts. Beyond that value I had to get a rider. They may also choose to change it to a 75, which may or may not cost more depending on their charts.

 

[gabeincal]

Okay, true, true.... Very good point! Repair costs would not be increased, but totaled payout value would... In this case, I would contact your insurance and let them know. It probably depends on how that individual insurer chooses to write it up. At that point it is technically an upgrade modification. My underwriter allowed me up to a certain dollar amount in upgrades, so long as I supplied receipts. Beyond that value I had to get a rider. They may also choose to change it to a 75, which may or may not cost more depending on their charts.

Very informative. I guess it is just an upgrade, just as a tint or a bicycle rack. When the car is totalled, you get the money back for the upgrades... It doesn't become a 75 in the eyes of DMV and so it should become a 75 in the eyes of the insurance company.

 

[jcdenton40]

In my case it did make a difference, though not by a huge amount. My 60 was automatically showing up as a 75 to my insurance company (GEICO) so I contacted them and had them correct it. The total premium then went down, I think by around $70 per year.

 

[doubleohwhat]

USAA didn't care when I upgraded my 60 to a 75. Unless something has changed in their system since last fall, they go by the size of the battery in the car (unlocked or not). So, I was technically already paying insurance for a 75.

 

[ahurst]

How would they even know. VIN doesn't change.

 

[Yinn]

It also depends on the company. Mine has my MS down as a Model S 70/90D even though it's a 60D...

 

[doubleohwhat]

How would they even know. VIN doesn't change.

I called them to make sure I was covered for the extra $ I now have in the car.

 

[JohnnyG]

It also depends on the company. Mine has my MS down as a Model S 70/90D even though it's a 60D...

Exactly... It depends on who's writing the policy. When I got my P90DL insured, they didn't even list a 90. The largest they listed was the 85. Which goes back to the fact that originally the 90 was just an option upgraded 85. Granted, in that case it was a physical option upgrade, but nonetheless an option upgrade to the (at that time) sub-model 85.

I called them to make sure I was covered for the extra $ I now have in the car.

^^THIS^^ That is the most important point, regardless of what they want to call it. You need to verify that they are insuring you for the correct dollar amount, so you don't get screwed if (God forbid) you total your car right now.

My insurance guy was willing to insure me at a lower rate, because the VIN doesn't differentiate a "Performance" model from a regular one. I refused to accept his offer because if I totaled my "P" version, they are only going to payout the amount for a non-P. Not a gamble I am willing to take.

 

[RichardD]

Do you plan on having GAP insurance? I would just make sure your paperwork shows the model properly so there is no confusion if you have a claim. My .02

 

[idealsol]

I used Geico in Dec 2016 to insure our S90d

It didn't seem to matter which version of the S we had as long as it wasn't a Performance version
I assume Geico uses a vin decoder
When we used a vin decoder, a Tesla model S, non-performance, they all decoded the same regardless of battery size
Btw - we bumped our insurance to 300/500k and with 1k deductible I it was 660 for 6 months
In California, in our 50's and 60&s , good driver records
AAA wanted about double that

 

[ahurst]

I called them to make sure I was covered for the extra $ I now have in the car.

But they don't have to know why...you just want to increase coverage amounts

 

[ahurst]

I used Geico in Dec 2016 to insure our S90d

It didn't seem to matter which version of the S we had as long as it wasn't a Performance version
I assume Geico uses a vin decoder
When we used a vin decoder, a Tesla model S, non-performance, they all decoded the same regardless of battery size
Btw - we bumped our insurance to 300/500k and with 1k deductible I it was 660 for 6 months
In California, in our 50's and 60&s , good driver records
AAA wanted about double that

USAA doesn't distinguish between a P and non-P - at least not for me one month ago...

 

[doubleohwhat]

But they don't have to know why...you just want to increase coverage amounts

Does it really matter? I'd honestly rather my insurance provider know what I'm driving so there are no surprises in the event of an accident. I don't get buying this expensive of a car and then playing games with insurance.