I had no idea insurance was so much!

[jgrgnt]

For me, Ameriprise has been the cheapest. Six-month premiums:

2018 P3D+: $496
2017 X90D: $382
2015 BMW 435i: $486
2003 Lexus RX330: $233

That's for 100/300/100 liability, 100/300 uninsured, $500 collision and comprehensive deductible, gap/new-car replacement, $5k medical, no towing, no rental.

 

[Tam]

Oh, We live in So Cal
We love the weather but thats about it.

Maybe the traffic in Southern California is too congested which might give insurance and excuse for an increased risk of accidents.

 

[tjkessler]

55 year old male, 1 accident, 1 license point $1600/yr w/State Farm in the SF bay area. P3 AWD.

 

[2012MS85]

I pay Progressive just under $300 per year for my 2018 3, and just under $400 per year for my 2012 P85. My total 6-month policy is about $1k (so $2k/year) for 9 cars, and another $400/year on my Progressive motorcycle policy (Polaris Slingshot and HD Fat Boy). Before anyone disbelieves these low rates, keep reading below how you may be able to lower your rates (I used to pay far more before switching from Allstate)...

I’ve been with Progressive for two years due to their EV rates being one-third of Allstate! I registered for their Snapshot program and drove like a granny while being monitored for four months My rates are cheap for multiple reasons: shopping around to virtually every major provider (about ten), $1k deductible, $250k/$500k policy limits, zero loss run (claims) history, married in 40s, plus wife also has spotless record (including no tickets/accidents for either of us), FICO scores ~800, 11 insured vehicles plus home all insured with Progressive, all but two vehicles are rated as pleasure due to very low annual miles, and I live in Iowa where rates overall are below the national average. All these items are factors that build onto themselves to produce my extraordinarily low premiums. I list all these factors because I’m predicting some 20-year-old single male with speeding tickets and a claimed accident on his P3D, and bad credit/FICO, will think I’m missing a zero. But I’m proof positive that there are affordable rates on TESLAs for good (low risk to an actuary) drivers who shop around (at least in the Midwest). Good luck finding a lower rate than some are now paying.

 

[happyzod]

Insurance rates really are variable based on discounts and they can have an outsized effect. I was quoted for $3100 for my model 3 (per year). This was 500 deductible/$500 comprehensive with 100/300 personal liability coverage and 50 for property coverage. 1 speeding ticket (18 over limit) but not much history otherwise.

Funny thing is, I added the model 3 performance to my regular insurance with my dinky toyota corolla. Was quoted for $1670 for the 3 (630 for the corolla) for a total of $2300 a year. I put in honest miles (2500 miles/year for corolla and 9000 miles/year for tesla).If I increased comprehensive/collision deductibles to $2000 each, then my total for the 3 would be $1100 and $1730 overall.

 

[Az_Rael]

I guess I should have done my research then instead of now although it would not have detoured me from buying the m3 long-range, auto pilot.

48yr old male no accidents or tickets with AAA $2300 per yr. More than 2x higher than my accord and 2x higher than my wifes 15' tahoe.

I did the online quote from costco/ameriprise insurance co and with progressive. Costco was $1700 and progressive $1300 ish but Im wondering if these are 1 yr enticement quotes and then they will really rise the following year.

What is everyone paying?

AAA really does not want to insure Teslas. We had the same experience, they wanted over $2k per year for each Tesla. Switched to Ameriprise (Progressive was more expensive for us), and I can say our rates haven’t gone up year over year. Even if they did, you can always just keep switching each year, which is what is recommended anyways to maintain the lowest rates.

I have filed a major claim with Ameriprise. They required lots of follow up on my part, and the claim took way longer than it should have, but they did eventually make me whole. I am saving over $1k per year with them, so the extra hassle at claims time is worth it to me.

 

[whitelightning]

How does the acceleration of the M3 compare to the Boxster? I sold my Boxster 5 years ago and it's hard to recall exactly the acceleration to do a comparison.

My LR AWD is definitely faster than the Boxster. I replaced an 06 M5 with the Boxster and took a 50% cut in power doing so. Now I’ve got the speed back (although the 3 is as fast 0-60, the M5 felt more _brutal_ in its acceleration) and still have the Boxster for really nice days.

 

[devilmountain]

I am paying 140 a month with AAA for my Model 3. A lot in California has to do with your driving record and how many miles a year you drive. I drive my car about 9k a year and haven't had a moving violation since 1991 even though I deserve many more citations. In addition, I have never been in a car accident. My plan is to shop around after the holidays.

 

[ryneezy]

I had Allstate. They wanted to charge me $900/6mos additional for the Model 3. I switched to Geico and it's now cheaper to insure three cars including the Tesla than what I was paying in total to Allstate for just two.

$1257/6mos for these cars
2006 Audi S4
2014 Acura MDX
2018 Tesla Model 3

We also live in Los Angeles where insurance isn't cheap.

+1 for switching to Geico and shopping around

I switched from State Farm to Geico in Orange County, CA

$838 every 6 months to insure:
2008 Volkswgen GTI
2018 Tesla Model 3

State Farm was gonna charge me ~$1,100 every 6 months

 

[davidplatt]

I live in Northern Virginia and I had been with Geico since 1992 (26 years) and paying $470 every six months for a 2012 Nissan Altima. The coverage was $500k/500k bodily injury liability, $250k property damage liability, $5k medical, $300k/300k uninsured motorist bodily injury, $100k uninsured motorist property damage, $250 deductible Comprehensive, $250 deductible collision, emergency road service and $900 rental car coverage. They wanted to raise me to $1187 every six months for a long range, rear wheel drive Model 3.

Switched to Progressive with $250/500k bodily injury liability, $100k property damage liability, $250k/500k uninsured motorist bodily injury, $100k uninsured motorist property damage, $250 deductible Comprehensive, $0 deductible glass, $250 deductible collision, and $900 rental car coverage. My 6 month premium is $460 so my monthly is $76.66 per month.

People need to shop around.

 

[Moose408]

My LR AWD is definitely faster than the Boxster. I replaced an 06 M5 with the Boxster and took a 50% cut in power doing so. Now I’ve got the speed back (although the 3 is as fast 0-60, the M5 felt more _brutal_ in its acceleration) and still have the Boxster for really nice days.

Thanks. I had the Boxster S so a little more horsepower. It never felt lacking. The Model 3 does occasionally, but as I said it's hard to judge so many years apart.

I was debating getting a Boxster instead of the Model 3 and glad I got the Model 3.

 

[tfan2018]

That is very close to what I pay for my 3 with all the bells and whistles coverage at Geico. I also have a $1M umbrella policy with Geico that costs around $150 per year. I have been with them for years and they have always been fair and responsive to me.

Same here. So far, Geico has been good to me. Been seeing several cases of rates goin up for 3 owners due to increased theft/break ins. Will see what happens during the next renewal.

 

[thetravelingdr]

42 y.o. single doctor in Hawaii, only ever owned a '99 beater Camry with 190K miles on it for which I had like state minimum liability with GEICO for about $600/year....Just donated that sucker to charity lol. A little bit of a speed demon, and have like 5 speeding tickets in 12 years here (Hawaii Traffic Cops are super laser-tag guys with minimal freeways to patrol, and our highway speed limit is 45-50 mph sometimes!). 2 of those speeding tickets were in the last 3 years...I'm just so used to LA/Cali speeds, so I've been pulled over for doing 64 in a 50 mph zone or 70 in a 55 mph zone. But zero accidents except a minor side-lane merge about 15 years ago. Meh...

For my 2018 Tesla 3 (Fully loaded, Enhanced Autopilot/Self Driving/Long Range Batter, but 18" wheels and Rear Wheel Drive Only), GEICO wanted about $1000/6 months or $2000/year for the pretty comprehensive policy below, similarly to State Farm. Best rate I got after a little shopping was Progressive for $150/month ($900/6 months or $1800/year). Looks like maybe I should try/check out Costco or others as well? I'll shop around more, but definitely not with AAA it seems. I'm not happy about my policy more than tripling, but I'm ok cause I really had a crappy car with little/no coverage before, this is an expensive car, and I full plan on adjusting it downwards slightly the older the car gets (higher deductibles for comprehensive/collision after car gets older). It is what it is.

Bodily Injury & Property Damage Liability:
$100,000 each person
$300,000 each accident
$100,000 each accident

Uninsured Motorist: $100,000 each person
$300,000 each accident - Stacked

Underinsured Motorist: $100,000 each person
$300,000 each accident - Stacked

Personal Injury Protection: $100,000 with $0 deductible - no co-pay

Death Benefits: $100,000 $15.00

Comprehensive: $500 deductible
Collision: $500 deductible

Rental Reimbursement: $30 each day (maximum 30 days)


Picking it up tmw! Or so says Tesla...Just under wire for the full $7500 credit. Got to drive around in their loaner Black Model S 70 to get the feel of stuff as payback for them delivering it super late to Hawaii.

 

[LionelHutz]

Those of you who have used Amerprise, have you been told that it is impossible to get more than $100k property damage coverage?

Shopping quotes and Ameriprise is significantly cheaper, but I'd be giving up an additional $150k in property damage liability coverage that I have with my current insurer. That's not nothing--especially if you commute in areas with nicer cars.

 

[gambit48]

Hmm, I do only have $100k with Property with Ameriprise. I was always more concerned with bodily injuries and medical bills. With depreciation, I suppose you'd have to hit a brand new exotic type car to crack $100k. Still, I guess if you cause a multi-car accident, $100k can go by quickly.

Ameriprise is cheap, but maybe I gotta look into that $100k property limit. I only pay about $300 every 6 months for each of my two cars (both 2018 and both with MSRPs within $200 of each other). So, I know Ameriprise isn't ripping me off just because it's a Tesla.

 

[Silicon Desert]

I guess I should have done my research then instead of now although it would not have detoured me from buying the m3 long-range, auto pilot.

48yr old male no accidents or tickets with AAA $2300 per yr. More than 2x higher than my accord and 2x higher than my wifes 15' tahoe.

I did the online quote from costco/ameriprise insurance co and with progressive. Costco was $1700 and progressive $1300 ish but Im wondering if these are 1 yr enticement quotes and then they will really rise the following year.

What is everyone paying?

Interesting. My Model X cost me LESS than my previous older 2003 Acura MDX.

 

[ebmcs03]

My LR AWD is definitely faster than the Boxster. I replaced an 06 M5 with the Boxster and took a 50% cut in power doing so. Now I’ve got the speed back (although the 3 is as fast 0-60, the M5 felt more _brutal_ in its acceleration) and still have the Boxster for really nice days.

The E60 M5 with the V10 was the most awesome engine I’ve ever owned!!!! I miss that high pitch whine / scream.

Yes. The at speed acceleration of the M5s are something else.

 

[SageBrush]

I suppose you'd have to hit a brand new exotic type car to crack $100k. Still, I guess if you cause a multi-car accident, $100k can go by quickly.

Umbrella policy ?

 

[WATT TF]

I guess I should have done my research then instead of now although it would not have detoured me from buying the m3 long-range, auto pilot.

48yr old male no accidents or tickets with AAA $2300 per yr. More than 2x higher than my accord and 2x higher than my wifes 15' tahoe.

I did the online quote from costco/ameriprise insurance co and with progressive. Costco was $1700 and progressive $1300 ish but Im wondering if these are 1 yr enticement quotes and then they will really rise the following year.

What is everyone paying?

I did a lot of research into auto insurance before buying my car and found it odd that about half of the comments are from people claiming it's less than their 8 year old Pruis or other vehicle, and the other half claiming it's outrageously expensive ($2000/yr +). I called my insurance prior to ordering to see how my rates would be affected from trading my 2011 Volkswagen CC Sport (lowest trim) with 125k miles for a Model 3 Long Range RWD. I have a clean driving record and was paying $1,050/yr for my Volkswagen - my policy includes 1 home and 1 car with 2 drivers.

My family has used the same State Farm agent on various policies for about 15 years. When I called the receptionist asked me a few questions, put me on hold, came back and quoted $2,750/yr! I asked her to please double check because I would reconsider my purchase if this is the case, and she confirmed its accuracy. A few days later I spoke with my agent who said their quoting software has not been updated to accommodate all trim levels of the Model 3 as they are released so quickly. In the meantime it quoted all Model 3 clients as if they had a Performance version, which is in fact $2,500-$3,000 per year - makes sense for a car that does 0-60 in under 4 seconds...Using my M3 VIN and specific details she was able to provide me with the correct rate I am currently paying of $1,000/yr, somehow LESS than my old car! She said this miscommunication is common considering she is using State Farm's corporate software.

Bottom line is we need to acknowledge there are huge (like 2x) differences in insurance costs between a RWD Long Range and AWD Performance. It's like comparing a Hellcat vs. a V6 Challenger, of course one will have outrageously expensive insurance and the other won't.

1. Has your agent quoted a Model 3?
2. Does your insurance company provide separate rates for Performance vs. RWD vs. Mid Range?
3. Are you getting the appropriate rate?
4. Are you comparing your rate with someone that has a comparable vehicle?
5. For comparison purposes, a vehicle with comparable rates to a Performance could be a BMW M3 Sedan, and a vehicle with comparable rates to a Long Range RWD could be any 30-45k fully loaded sedan

 

[Joshan]

State Farm $442 for 6 months. $500 deductible $300k coverage.