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Insurance company won't renew my policy... 1 claim only

Discussion in 'Model S' started by skboston, Nov 19, 2015.

  1. skboston

    skboston Member

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    Well, I should have seen this coming. My insurance company decided not to renew my policy for the Tesla based on 1 claim I had this summer and resulted in over $15000 worth of damages.
    It wasn't my fault either, I hit a coyote driving on a highway and destroyed the front end of the car from the impact.

    I hate insurance companies for that, sadly the letter says that's not the reason, but my agent had the real reason for it and shared it with me.
    Has anyone has this happen to them?

    My car is registered as a commercial vehicle on a commercial policy and there are no other claims or vehicles registered prior to the Tesla.
     
  2. kort677

    kort677 Active Member

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    there are many other companies that will insure your car
     
  3. AlMc

    AlMc 'Senior Moments' member

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    Insurance company ?
     
  4. green1

    green1 Active Member

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    What was their official reason?

    Sadly this is to be expected, as long as Tesla keeps repair costs high, insurance is going to continue to be a nightmare on these cars. The only way around it is for Tesla to make repair information more available and sell the parts to anyone who asks. As long as there are "exclusive" shops, they'll charge "exclusive" prices.
     
  5. skboston

    skboston Member

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    The problem now is that my policy from $1200 a year would probably double, how fun would that be?

    The official reason on the letter they sent me is: XXXX company No Longer Represents Your Agent For the Commonwealth Automobile Reinsurers.
    The unofficial reason provided from my agent: Claim history.
     
  6. Tampaukfan

    Tampaukfan Member

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    Probably will be higher than double, mine went from 1600 to 3800 after one claim (16K). Plus you will be paying the higher rate for 3 years... sucks, I feel your pain.

     
  7. rcarpen22

    rcarpen22 Member

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    Just curious, why is the name of the insurance company a secret here?
     
  8. DougH

    DougH Active Member

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    Geico doubled my rate after I had a $3K do to vandalism. I switched to Nationwide.
     
  9. beeeerock

    beeeerock Active Member

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    If the coyote was driving on the highway and it wasn't your fault, why wouldn't you simply go after the coyote's insurer?

    Sorry, but that one was too tempting to pass by... :biggrin:
     
  10. 1208

    1208 Active Member

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    Maybe XXXX the name of the company.

    Not going to google it to check, I don't want to look like an idiot.
     
  11. kort677

    kort677 Active Member

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    your premiums probably would be raised because of your claim.
     
  12. Jaff

    Jaff Active Member

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    Each jurisdiction (and State, Province or Country) will have their own rules about when it is permissible for an insurance company to "non renew" an auto policy.

    I would imagine for some states, it is literally the "wild west", and a company can basically do as they please.

    I can't speak for Alberta green1, but a non renewal in Ontario for someone with a completely clear record save one comprehensive loss (hitting the coyote), would not be allowed.





    - - - Updated - - -

    SKB, have you tried contacting the underwriting company (Commonwealth Automobile Reinsurers) to see if they can give you contact information for another of their agents? If another of Commonwealth's agents could get a (Commonwealth) renewal for you, your costs might be substantially less.

    One claim, specifically a comprehensive claim such as hitting a wild animal, is not really much of a substandard claims history to base a non renewal on imo.

    Has your current agent suggested that you try to find a new agent who represents them?

     
  13. green1

    green1 Active Member

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    Not to take things too far off topic as the OP isn't in Alberta, but as far as I can tell in Alberta, the only rules are that they can never deny you liability insurance, they must provide tons of notice before cancelling you, and they can't charge more than your "grid rate" for liability.
    Of course if they deny you collision and comprehensive insurance on a $100,000 car, they might as well be denying you coverage because the fact they still offer you liability becomes irrelevant to most people in that case, and the can't charge more than grid rate is also close to irrelevant, because most drivers can easily get a quote for less than half grid rate anyway, so any time you get one at grid rate you know it's really just a polite way of them telling you they don't want to deal with you.
    That said, I haven't actually dug in to the rules around cancelling existing policies on you, only about what they have to offer in the first place.
     
  14. FlasherZ

    FlasherZ Sig Model S + Sig Model X + Model 3 Resv

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    I had a comprehensive claim this summer (deer) and was renewed without a significant increase when the time came. My rate on the Tesla did go up, but I suspect that's adjustment due to repair costs, it's still very low @ $75/mo.
     
  15. AmpedRealtor

    AmpedRealtor Active Member

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    My spouse had a $5,000 at-fault claim. Our combined insurance for both vehicles went up $400 per year. We are insured with Encompass. Combined premiums for both cars is about $2,900 annually after the increase. This includes an agreed value policy on the Model S.
     
  16. skboston

    skboston Member

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    Ok ,so the insurance company is Commerce Insurance. I think it's MA only company and I have/had other vehicles through out the years with them on my other companies.

    Here is more info about Commonwealth Automobile Reinsurers (CAR) - https://commauto.com/aboutcar/role.aspx

    In my case as no other company will take me, my only chance is through CAR and my agent told me it will most likely be Safety Insurance (another local company).
    I have enough time to figure things out, policy expires in January and I must find a company by then that will insure my car. I plan to contact an insurance attorney and speak with them about the law in Massachusetts.

    I remember 7-8 years ago, Safety Insurance dropped the commercial policy on my trucks with an excuse that I take them out of state of more than 100 miles away from my address although they knew the nature of business and my operation and I found it laughable excuse after being their customer for 2+ years.

    If repair monopoly on Tesla stays as expensive and limited as is, I might be forced to sell my car, I don't want to pay $3000-4000 per year just because I drive a Tesla. My accident at most was $2000 damage and it was beyond frustrating to deal with the body shop and getting parts and the insurance company ended up paying $17000 and a change if I'm not mistaken.
    I'd rather drive a decent ICE car with decent gas mileage than paying 2-3x more to insurance companies, because Tesla sticks it to us with high repair costs and slow process.

    Coyote's insurance company is called The Speed Runner, impossible to catch :)
     
  17. MsElectric

    MsElectric Active Member

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    Here's an idea that might work. Title the car under your name AND the name of the company. You will then be able to add the car to your personal policy.

    If you use your car for commercial purposes such as ferrying passengers rather than personal transportation for yourself this may not work though.
     
  18. brucet999

    brucet999 Active Member

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    Look like an idiot? You'd look like a pervert, more likely. :)
     
  19. skboston

    skboston Member

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    @MsElectric

    Registering under a company name, gives me certain benefits, my doctor said my foot is heavier than most people and driving a Tesla doesn't help my case for my driving record :)

    It's a not well known fact at least in MA, that driving record for vehicles under commercial policy doesn't impact insurance rates.
     
  20. eye.surgeon

    eye.surgeon Member

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    I realize in this world of nothing is my fault this may not be well received...but hitting a coyote with your car is indeed actually your fault.
     

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