Walk away from the Insurance Company not the M3I 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
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I had no idea insurance was so much!
- Thread starter flynryan
- Start date
Walk away from the Insurance Company not the M3
you guys got decent rates, geico must hate me.
35 year old male
good neighborhood
no points
1 no fault accident
good driver discount
homeowner discount
multicar discount
geico quoted me 4600 every six months.. I laughed and said it must be a typo, haven't price shopped as im still car shopping.
35 year old male
good neighborhood
no points
1 no fault accident
good driver discount
homeowner discount
multicar discount
geico quoted me 4600 every six months.. I laughed and said it must be a typo, haven't price shopped as im still car shopping.
Did you ask them for another 15 minutes?
Yeah, I have Ameriprise auto insurance and added their 1 million umbrella policy. It was stupidly cheap for the umbrella.
haha, they didn't even offer a reach around. I'm sure Jake from state farm is like that too. USAA might be getting my business
Goosby
Member
They have mine as well. It’s not the cheapest rate around and their home owners was a bit more expensive than other insurance company’s rates, but bundling saves a tiny bit and I’ve always had a good experience working with/through them.
contacted geico about the insane quote they offered me and the guy told me, 'prices reflect repair costs,recent claims and all the tech that comes with having a tesla". I told him I'm off to price shop, he then said new policies are always cheaper, it will go up to what we quoted... i said i doubt it and then hung up. usaa will be getting all my business come tomorrow morning
that's what geico quoted me, I don't know where everyone is getting these quotes from. geico is the AAA
Super_Popular
Well-Known Member
I had a terrible experience with USAA. I had been with them for 20+ years. My daughter was rear ended at a stop sign, and USAA settled the claim with the other driver's insurance company as split responsibility without notifying us. I didn't find out until our rates doubled. I switched to Geico and recently re-quoted at USAA - $2800 more per 6 months at USAA (almost $7K total/6mo for 5 cars!).
Geico only costs me about $70 a month for my Model 3 (only savings comes from a second car, no other shared policies). Millennial single male with one no-fault accident, $100 comprehensive $1000 collision, Ohio. It's crazy that they're quoting so much for people.
That is so true, they treat you like a frog in a pot, slowly turning up the price a little bit so you don’t notice. I use TD monex for like 10 years and my rates are getting too high, call them to complain and gave me a “loyalty” discount without even asking, basically to a bit more than what a new person should pay to make it not as worthwhile to jump.
Snow Drift
[Off-Road Assist] Activated
It’s not expensive at all.
My M3 is only $88/year more expensive than our old 2015 Subaru Crosstrek Hybrid, which was worth half as much.
My M3 is only $88/year more expensive than our old 2015 Subaru Crosstrek Hybrid, which was worth half as much.
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