Has Anyone's Model S Auto Insurance Gone Up Significantly?

[Gear]

Mine costs slightly less to insure than the '11 BMW 335d it replaced. $530 for 6 months with State Farm.

 

[techMology]

I imagine things are different with Canadian insurance companies and it varies from province to province; however, I just wanted to share how pleasantly surprised I am that my insurance is exactly the same (give or take about $20) as my Infiniti 2012 G37x.

Just submitted mine. $10 more a month here in Ontario versus my 2010 BMW 328i Touring. Pleasantly surprised & shocked.

...although my minimum deductible has doubled (no option for less) to $1000 comprehensive and $2000 for collision. Given the estimates I'm seeing for repair, it's probably still a bargain.

 

[Al Sherman]

My USAA policy increased by $40/month when my wife and I replaced a 2008 Prius with a new Model S last month.

Same exact situation. Mine increased less than 10 bucks per month over the Prius.

Within a few dollars of the 2001 Prius it replaced.

^^^This.

2013 TESLA MODEL S 4D ELEC PERFORMANCE

Premium $ 231.12 per 6 months

Deductibles

Comprehensive 1,000 / Collision 1,000


Disclaimer: Only two adult drivers who have never had a claim (knock on wood) and been with USAA for 35 years so... YMMV. :smile:

 

[Apoclyps]

My monthly went from $90/month to $125/month going from a Nissan 350z to the MS60. Renewal will be in April so will see what happens.

 

[SteveFurman]

Model S Insuance

My insurance from Farmers Insurance that covers both my Audi and Tesla went from $1087 to $1634. This is for 6 months coverage. After checking with my agent, he said that the rate increase was due to Farmers now having some claims and expense history. How do my premium compare to what you are paying? Has anyone experience a 50% increase like this?

Additional background is that my wife and I are the only drivers on the policy and we have clean driving and accident records. The increase is due to the Model S only.

I am covered by MetLife. $800 per year and no increase so far.

 

[Crispix]

Huge Geico fan here. My MS is only 6 months old and I unfortunately had an insurance claim already. Geico was perfect: shelled out $8k in repairs to the body shop of my choice and I only paid my deductible. Geico rep said I should not expect my rates to change at all because of the claim.

 

[Phillymomof4]

Huge Geico fan here. My MS is only 6 months old and I unfortunately had an insurance claim already. Geico was perfect: shelled out $8k in repairs to the body shop of my choice and I only paid my deductible. Geico rep said I should not expect my rates to change at all because of the claim.

Good to know. We've had geico for years. Our premium for 3 cars now is $4400/year and I got a rough quote of a $720/year increase to replace our minivan with the tesla when it arrives in march.

 

[Gizmotoy]

Huge Geico fan here. My MS is only 6 months old and I unfortunately had an insurance claim already. Geico was perfect: shelled out $8k in repairs to the body shop of my choice and I only paid my deductible. Geico rep said I should not expect my rates to change at all because of the claim.

Geico doesn't offer OEM part waivers. I switched to them recently because it saved over $100 vs. my current Progressive policy with double the coverage, but I'm concerned about getting crappy 3rd Party stuff. Did you get real Tesla parts? I guess there might not even be 3rd party stuff yet, but wanted to ask. I haven't see anyone else with an MS have a claim with Geico.

 

[Crispix]

Geico doesn't offer OEM part waivers. I switched to them recently because it saved over $100 vs. my current Progressive policy with double the coverage, but I'm concerned about getting crappy 3rd Party stuff. Did you get real Tesla parts? I guess there might not even be 3rd party stuff yet, but wanted to ask. I haven't see anyone else with an MS have a claim with Geico.

All OEM parts -- needed a new door and a front fender. Work was done by an Tesla-authorized body shop. Waiting for the parts to come from the factory was the only hold up.

 

[swegman]

I was hit by a deer and have Geico. All OEM parts were used from Tesla. Geico had no issue with that. Also, when my renewal came up, the rate dropped, because the repair fell under the comprehensive section of the insurance policy.

 

[Gear]

Geico doesn't offer OEM part waivers. I switched to them recently because it saved over $100 vs. my current Progressive policy with double the coverage, but I'm concerned about getting crappy 3rd Party stuff. Did you get real Tesla parts? I guess there might not even be 3rd party stuff yet, but wanted to ask. I haven't see anyone else with an MS have a claim with Geico.

Yeah, I don't think anybody makes, or will make for quite some time, parts for the Model S other than the OEM.

 

[Gizmotoy]

Yeah, I don't think anybody makes, or will make for quite some time, parts for the Model S other than the OEM.

They usually start becoming available 18-24 months after a new model is released on low-volume cars. Given the high replacement costs, someone will start making them.

Having seen the aluminum body skins being made, though, I agree we probably won't see those 3rd party any time soon.

 

[Phil Gorski]

No change so far - with The Hartford