Insurance Company for Tesla Owners

[Golflaw]

Did anyone notice their Tesla Model S insurance premium increased recently? My doubled from $500 for 6 months to $1k. 21st century said it was due to re-adjustment made by the national Auto Insurance people (whoever they are) and not 21st Century.... does this sound right?

Just got my SF policy renewal. It went from $875 every 6 months to$1,460! I'll be shopping around.

 

[RogerHScott]

Just got my SF policy renewal. It went from $875 every 6 months to$1,460! I'll be shopping around.

All else equal? I.e., no claims, no change in drivers, etc.?

 

[Sawyer8888]

I'm the S. Florida area:

Progressive and Gieco were about the same: $1368/6 months for only $50/$100 <-- I should probably increase this. Uninsured & $1350 max rental. $500 deductibles. Nothing on my record. All of my gas savings is going to insurance.

Same companies - cost to insurance a Corvette? Closer to $500/6 months.

Insurance companies are becoming aware that Teslas take a long time to fix and parts are scarce. And not just anyone can fix these things.

 

[sundaymorning]

I feel lucky - added p85d only $410 / 6 month (with many other cars already on my policy).
Progressive, middle aged male, no tickets, living outside of GR in Michigan. 250k/500k bodily and uninsured with $1k deductible - no rental rider/coverage needed.

Sad part was I was with AAA for 25 years before progressive and liked AAA (even got the silver bumper sticker and keychain they send you at 25 yr membership) and left for >25% reduction from progressive. When I called AAA to cancel service they never even asked why I was leaving or put me into a retention process / feedback.

I’ll have to call Progressive and check, so far I called Geico and their rates are cheaper than 21st century, which is under State Farm. I was with 21st Century since 1995 when they went through their bankruptcy, I asked for a reasonable explaination why my rates increased by 100% and they couldn’t provide anything other than there has been a recent “re-evaluation.” Having never dealt with Gieco, I saw an immediate discount for all three cars, 21st/State Farm didn’t even care to match prices. I ended the concersation with “thank you for your business I’ll be switching, it’s a no brainer.”

 

[bnsfengineer]

I'm old with one speeding ticket.... just got renewal effective Dec 1st.... $500. 6 month policy Wawanesa. 100-300k limits with $200 $500 deductible . I tried the Tesla preferred and it was REDONKULOUS!

 

[jjh1234]

Anybody in:

California, Illinois, New Jersey, Oregon, Pennsylvania, Virginia, and Washington

You should look into Metromile insurance if you are a low mileage driver. I got a great rate from them. You only pay a small monthly fee and for the miles you actually drive.

Good luck.

 

[Golflaw]

All else equal? I.e., no claims, no change in drivers, etc.?

Yes, no changes. I have had one claim, almost 5 years ago, so if anything, things have changed for the better.

 

[RogerHScott]

Yes, no changes. I have had one claim, almost 5 years ago, so if anything, things have changed for the better.

I will be keeping a very close eye on my SF Tesla renewal.

 

[trm2]

A lot of insurance companies are currently struggling with profitability, rates going up for more than just Teslas. (Yes, I know not everyone everywhere, but even Geico is currently running over a 100 combined ratio.)

 

[Modeler]

I also found the best deal (with higher coverage, 250/500/250) with Ameriprise through Costco. Recommend you check into them, they seem like a decent company, and are recommended by Costco (not saying this makes them better) but it is good enough for me, and just hope I do not need to file a claim any time soon to discover how well or bad their Service may be.

Well, for the fun of it I decided to try Ameriprise. Their quote was almost exactly twice what we are paying with GEICO in Virginia. So far, this has been pretty consistent - every quote I get is 50-200% higher than GEICO.

 

[Lhshockey24]

I've seen a lot of people have issues with CSAA (AAA Northern California). They wanted $1,110/6 months for the Model S, Geico was that same cost but for all three of our vehicles (old 4Runner, Odyssey Minivan, and Model S) saving us over $3,000/year! ---Yes that sounds like a Geico commercial, but it actually just happened.

 

[JenniferQ]

I switched from USAA to GEICO last year and it saved us about 1/3 off what we were paying. We have a lot of cars and teen drivers, so that was a nice switch! Same limits.

When a foreign object bounced off a truck and hit my Tesla, GEICO covered everything, even $1000 toward the rewrap that I'd forgot to add to the policy as an aftermarket accessory. Make sure to tell them about those things.

I got a quote for the Model 3 due at the end of the month, and it was a very reasonable at $354/6 months.

Model S is $511/6 months and I get the odd ticket every now and then