High insurance costs or more FUD...

[RedModel3]

Amica gave me a quote of +$2537.76/year to replace my Roadster with a Model 3 Performance. Roadster is currently $750/year....
But for what it's worth, they didn't have the Model 3 Performance in their database and I don't have a VIN yet. They mentioned the number would change once I had a VIN. We shall see.

I had Amica for years until someone suggested I shop around. Home and auto. When I decided to go with Erie, my costs were almost **** in half. Amica is good, but not THAT good. Get thee to another company!

 

[Az_Rael]

I'm about to switch to Root Insurance, they actually have a discount for Tesla autopilot as well. They only insure good drivers who have proven it via a phone app, so that drives the costs down. Below is a referral link, use it or just go on your own to their website. My insurance costs for great coverage are going DOWN by $240 a month (two drivers, four cars, including Model 3). I'm not necessarily going to choose the coverage shown below in the pictures, just wanted to give an example of what I've been quoted after getting an 8/10 on the driving test. I'm also about to add another driver (17 year old son), and since they claim the most important factor is how they drive, I expect to get the best rates for his demographic. Now that I think about it, it makes me mad that for decades I've been paying for bad drivers coverage while making/needing no claims because I'm a good driver.

Root Car Insurance

Interesting model. The only thing I worry about is the claims process if you actually have to use them. Looking online, it seems they are currently using a 3rd party company for handling claims, and that company is not the greatest on response times.

But, depending on how much you save, it could be worth the hassle during a claim.


Edit: looks like they aren’t in California. Bummer

 

[Tezlanian]

They must have been using a 16 year old male with speeding tickets as their baseline or something.

 

[invalid]

Stopped by my local AAA office yesterday and got a quote to switch out my 2013 S4 with the Model 3. S4 is $1740/year for my wife and I with 10k miles a year. Model 3 is $1341/year with the same parameters. It didn’t distinguish between RWD/AWD/Performance.

 

[SageBrush]

I had Amica for years until someone suggested I shop around. Home and auto. When I decided to go with Erie, my costs were almost **** in half. Amica is good, but not THAT good. Get thee to another company!

I pay about $65 a month to Amica for my Model 3. No complaints about the price and they are a wonderful company to deal with.

My limited understanding of car insurance is that rates are set regionally or by local market. That includes bumping up rates for everybody nearby if the company has losses. Bottom line, anecdotes of insurance costs have limited utility.

 

[scottysize]

It can also get wonky when one adds a car instead of replacing. I'm on Safeco and every 6 months, I'm being charged a LOT on my Leaf (more than your Tesla) as it's my primary car. My Prius is a lot less (but also over 12 years old) but it's not designated as my primary car and I'm being charged more than your Leaf.

I've talked to my agent before. If I were to reverse the designation, the Prius would get charged at on and my Leaf a lot less, but the overall total comes out to be the same.

Nor Cal rates are high but not usually as bad a So Cal. I'm male and past 40 but single. Married drivers I'd imagine get a better deal.

Married and almost 50 with a perfect driving record for each of us for the past 7 years. I do think it's the "addition" that is screwing me. Like I said, I'll know in 4 months.

 

[ℬête Noire]

Bottom line, anecdotes of insurance costs have limited utility.

So does screwy math such as that engaged in by the linked article. The way it reads makes it pretty clear they were engaging in cherry picking. Like anecdotal but with intentional bias.

 

[Jard]

I'm currently with Erie but shopped with Amica as well for my Model 3 acquisition.

Amica - $1,256 yr.
Erie - $1,386 yr.

Erie is including New Auto Security for $176 a year in that rate. Seems like Amica does it automatically for the first year.

 

[fallen888]

When I went from my old MDX to the Model S two years ago, my Geico rate went up $50 per month. Our household coverage for an S and another Acura is much less than the article referenced by OP misleads you to believe for a single 3. I call FUD.

 

[AceSkywalker]

Jeez, they're absolutely robbing you out there man. I'm 23 in Masschusetts and just priced out a quote through Costco Ameriprise for my LR AWD Model 3 at $110/month ($1331 for 1 year policy). Check them out, not sure if they're in California but it's worth a shot.

Its the same - 400+ per month. Southern California is just one of the most expensive places to insure a vehicle. Period.

 

[gambit48]

Jeez, they're absolutely robbing you out there man. I'm 23 in Masschusetts and just priced out a quote through Costco Ameriprise for my LR AWD Model 3 at $110/month ($1331 for 1 year policy). Check them out, not sure if they're in California but it's worth a shot.

I believe Costco nationwide uses Ameriprise. That's what I have. I'm not 40 yet, but married and have home owner's through them as well. Between all the discounts, it's quite inexpensive. I just had this convo with my brother in law. He's gotten some quotes elsewhere and some companies were dramatically higher.

 

[jddssc121]

LM is one of the highest cost insurers in the country. Find a good independent agent who will shop for you. Each agency can have different companies so shop around. Raise collision deductible to 1k. My policy at 250/500 with gap is 900/yr.

When i shopped around last time, they were the cheapest by a large amount. I have started shopping again of course . So far the most laughable was Geico @ $400/month just for the Tesla.....


Edit - LOL, @tpham07 I am not sure why you marked this as disagree, but to each their own

 

[Msjulie]

USAA

2018 TESLA 3 4D
$ 385.62per 6 months

I suspect/hope it will go down a little when it's not a brand new car..

 

[Nocturnal]

USAA

2018 TESLA 3 4D
$ 385.62per 6 months

I suspect/hope it will go down a little when it's not a brand new car..

I'm really hoping that once more crash and theft data is available our collective rates will drop.

 

[wbhokie]

USAA

2018 TESLA 3 4D
$ 385.62per 6 months

I suspect/hope it will go down a little when it's not a brand new car..

Do you mind adding some additional info... deductibles, $ claim coverages, etc.

 

[MXWing]

That should be the cost to insure Barrett Riley.

As a whole, Tesla drivers generally reach an age or socioeconomic status to where death by stupidity is pretty low.

 

[ezevphl]

I'm a bit jealous of some of your rates.. but cities are quite a bit more expensive for car insurance...

I think there is some truth to it being unreasonably expensive at many companies. I've gotten nearly a dozen quotes and for past cars I would see a difference of 100-300. For the Model 3 I saw differences of 1000-1500 between companies.
It could be that they don't have enough data, or consider it a luxury car but it is more expensive at most than I expected.
I found a decent deal in the end, but have never seen prices like that even when we had two cars.

 

[stillageek]

Pretty cheap insurance from Progressive. It is a Pleasure vehicle as I have a Smart ED for my commuter car. The Smart is actually more expensive than the 3...by like $15 per 6 months. ha!

 

[Msjulie]

Do you mind adding some additional info... deductibles, $ claim coverages, etc.

Comprehensive 1,000 / Collision 1,000
No car replacement (ie no loaner)
Bodily injury $300,000/500,000
Uninsured motorist $300,000/500,000
Wage earner disability (honestly I didn't know we had this) $ 2,000/1,000

 

[SageBrush]

So does screwy math such as that engaged in by the linked article. The way it reads makes it pretty clear they were engaging in cherry picking. Like anecdotal but with intentional bias.

This isn't the first article I've read that says average insurance costs are sky high, and those articles have nothing to do with Tesla.
So read the numbers in OP's link in terms of relative costs and they do not seem so unlikely.

For example, and keep in mind these numbers are averages so they include all the junkers that carry minimum state required.