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

[Francis Lau]

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.

 

[mknox]

I first insured my Model S last March, and was kinda surprised it came in a bit less than the '09 Cadillac CTS it replaced. My renewal came through in December, and there was no noticeable increase in my policy's premium.

 

[steve841]

No change here ... with Progressive

 

[gaswalla]

Farmers : 924/yr last December... 940/yr renewal for 2014.. Married, San Diego, only adult drivers.

 

[Mayhemm]

Currently, the Model S is 30% less to insure than my '11 Audi TT!

I can see this changing once claims start being filed, though. It probably has something to do with there only being two in the whole province (counting mine)

 

[Uncle Paul]

AAA quoted me $2,000 on a new Model S. Seemed high to me. Ended up cancelling my order.

 

[TokyoRush]

No change on my side with USAA.

 

[chickensevil]

Would love to know the separation on your bill for what they are charging you for the Tesla VS the Audi.

But I would venture to guess with a lack of personal injury (unless that has changed), property damage is usually cheaper than medical bills. So I would guess that for the car, and all it's safety features, it would drive the price of insurance down, not up. Sounds like it might be time to shop around for new insurance?

 

[Zextraterrestrial]

I just looked into switching my wife's insurance to a 2011 535i and it is at least $400 a year more than the S - this is with Geico

 

[liuping]

AAA quoted me $2,000 on a new Model S. Seemed high to me. Ended up cancelling my order.

You should have just changed insurance companies. Many are 1\2 that or less.

 

[ecarfan]

No change on my side with USAA.

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

 

[Zythryn]

AAA quoted me $2,000 on a new Model S. Seemed high to me. Ended up cancelling my order.

Canceling your order for AAA I hope.
I am paying about $1500 a year to cover two Model S.

To the OP, ours went up about 85 cents a month. Our collision went up a bit, the personal injury went down.

 

[jerry33]

Within a few dollars of the 2001 Prius it replaced.

 

[glhs272]

My American family insurance policy went from $105 a month, down to $85 a month last month with no explanation (although I didn't ask for any).

 

[ZBB]

My insurance went up by ~$25/month when it renewed in Dec. But it had dropped by about the same amount the year before (before adding the Tesla).

I suspect this is due to a claim I had last Feb -- and nothing with the Tesla. I backed into a tree with my last car -- first time I've ever made an insurance claim...

 

[jerry33]

I backed into a tree with my last car -- first time I've ever made an insurance claim...

Like this?

 

[Carguy949]

I have a 2008 G35 and just called State Farm for a preliminary quote on an S85. My six month premium will increase from 358 to 562. That's a fair sized percentage increase, but still seems reasonable to me.

 

[Btrflyl8e]

My GEICO premium for 6 months is $550, and it renewed in late Aug. No major increase then, so not anticipating one at the end of February, either.

 

[EarlyAdopter]

No change in 12 months with Progressive.

 

[gpetti]

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. Given that the Model S is more than twice the value of the G37 and has about 80HP more power. With these factors applied to another ICE the cost would almost certainly be much higher. I'm tempted to ask her what it would have cost me for an equivalently powered and priced Porsche. My insurance agent doesn't know much about the model S so she was very surprised with this result. In fact she told me that when she was talking to the insurance company (Aviva) the woman running the numbers ran them again because she also didn't believe them. I'm hoping this doesn't change when insurance companies here accumulate more data. I'm guessing that the safety rating must play into this and the lack of injuries and deaths - which hopefully will go on for as long as possible (not just to save me money). I also wondered what the theft risk is for a Model S. Are they harder to steal? Presumably the garden variety car thief hasn't yet got their heads around stealing a model S. Maybe this will become more of the hackers domain?