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Hi guys,

Has anyone had problems insuring your Model Y? I got a really high quote from Geico, so I did some shopping around and the prices seem really high all around. Given the current pandemic (and the fact I don't drive that much), I was hoping to switch to a per mile insurance plan, but the fact the Model Y doesn't have an OBD2 port means companies can't track you very well. Metromile confirmed that they have completely stopped insuring Teslas outside of California.
 
I was talking to someone who said their daughter was surprised by the increased insurance premiums for her Model 3 too. He said they found out it was because the parts are very expensive to replace and since the frame is aluminum they have a higher likelihood to be totaled. I'll be getting quotes for the Y I have on order soon and can circle back to this post to let you know what I find.
 
I just added my Y performance FSD to our Liberty Mutual insurance in New York State (upstate) for $534 per year. I do not get towing or rental car as I have a spare and use AAA... I do have free glass coverage just in case. I think It is a bargain??
$534 per year is insanely cheap. Might be too cheap to believe it’s correct? You may want to review what coverage they’re putting on this car for you.

I’m presuming you have comp and collision from some of the other clues in your post.

I don’t know what your state minimum liability limits are in NY but I hope you have coverage well in excess of that, as well as UM/UIM or NY’s equivalent.

I’m an insurance lawyer and I spend a lot of time explaining to people why there isn’t enough insurance money to cover claims. The price delta between state minimum coverage and increasing it exponentially usually isn’t a ton, so if you’re in that boat, please think twice about that.
 
Hi guys,

Has anyone had problems insuring your Model Y? I got a really high quote from Geico, so I did some shopping around and the prices seem really high all around. Given the current pandemic (and the fact I don't drive that much), I was hoping to switch to a per mile insurance plan, but the fact the Model Y doesn't have an OBD2 port means companies can't track you very well. Metromile confirmed that they have completely stopped insuring Teslas outside of California.

I have Electric Insurance out of MA and agent told me a new Y would decrease my rate when replacing a 2016 S. Try an independent agent that can shop you out to multiple companies at one time.

GEICO (and Progressive) honestly are terrible companies to work with in the event of a claim.

Many of the well-known insurers are slow to adapt to new risks (some have little to no claims history with Tesla much less the Model Y) so they avoid the risk by raising premiums.
 
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$534 per year is insanely cheap. Might be too cheap to believe it’s correct? You may want to review what coverage they’re putting on this car for you.

I’m presuming you have comp and collision from some of the other clues in your post.

I don’t know what your state minimum liability limits are in NY but I hope you have coverage well in excess of that, as well as UM/UIM or NY’s equivalent.

I’m an insurance lawyer and I spend a lot of time explaining to people why there isn’t enough insurance money to cover claims. The price delta between state minimum coverage and increasing it exponentially usually isn’t a ton, so if you’re in that boat, please think twice about that.

That is way below what I was quoted (for 6 months), although I know each person's case is different. I just went by what I was paying for my BMW versus what I was quoted for the Model Y, so the only variable is the car. Granted, replacing a brand new car is way more expensive and it makes sense that the Y is more expensive to work on given so much of it is aluminum, but still.
 
$534 per year is insanely cheap. Might be too cheap to believe it’s correct? You may want to review what coverage they’re putting on this car for you.

I’m presuming you have comp and collision from some of the other clues in your post.

I don’t know what your state minimum liability limits are in NY but I hope you have coverage well in excess of that, as well as UM/UIM or NY’s equivalent.

I’m an insurance lawyer and I spend a lot of time explaining to people why there isn’t enough insurance money to cover claims. The price delta between state minimum coverage and increasing it exponentially usually isn’t a ton, so if you’re in that boat, please think twice about that.

Yeah, I am a State Farm Agent and I would be very suspicious of the coverage with that premium. Just my $0.02....
 
A note about GEICO. I went with them as I already have several other cars under them. I did notice that after the Y was added to my account it did not show as having several safety features such as ABS, passive restraint, or any type of security system. After I updated the vehicle profile my rate dropped by about $85 for the 6mo. I still need to get off my lazy a$$ though and shop around for a better rate.
 
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Hi guys,

Has anyone had problems insuring your Model Y? I got a really high quote from Geico, so I did some shopping around and the prices seem really high all around. Given the current pandemic (and the fact I don't drive that much), I was hoping to switch to a per mile insurance plan, but the fact the Model Y doesn't have an OBD2 port means companies can't track you very well. Metromile confirmed that they have completely stopped insuring Teslas outside of California.
Didn't try Progressive yet, but yes, initially Geico give me ridiculous quote about 300+ per month. Tried amica via costco and get twice lower and quite close to what I had before for 2 ice cars (one of them cheap Sentra). Tried Geico once again, this time website told me error occurred and give no quote but in few hours some human being send me the quote not so bad as first time, close to Amica now but with higher deductibles though.
 
Don’t know how I was able to get such a great rate for MY as it is the same cost as what I pay for my old G35 coupe now but it was <$300 for 6 months with $100K/300K liability coverage, $100 comprehensive deductible, $500 collision deductible, $50/day car rental, and towing. I had gotten estimates from Geico ($440) and Liberty Mutual ($354) as well. Ended up going through an insurance agent/broker to get that rate with Progressive. Of note, I have an awesome credit score and have had no accidents or tickets within the past 5 years.
 
Try esurance they are owned by allstate. Mine was around $1k per year in south florida my premium actually went down with the Y. Previous car was a BMW X5.

With insurance it depends on if you fit the company profile. There really is no way to know if you will get good rates with a company unless you quote a bunch of insurance companies that are out there.

For instance I used to get insanely cheap car insurance though farmers when I lived in another state but I had to have house insurance that was kind of pricey if I had just shopped for house insurance. It was still a good deal when I combined all my insurance together so you really have to quote all your insurance needs to compare.
 
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Very interesting to hear all the experiences here. I kept Geico as adding the Model Y and replacing my previous Audi actually caused by insurance to go down by about $100/over 6 months. Same level of coverage etc. I have heard that progressive is much lower, but because of a few claims over the past years I wasn't able to switch just yet.
 
Very interesting to hear all the experiences here. I kept Geico as adding the Model Y and replacing my previous Audi actually caused by insurance to go down by about $100/over 6 months. Same level of coverage etc. I have heard that progressive is much lower, but because of a few claims over the past years I wasn't able to switch just yet.
Well except everyone knows already - shop around :) seems Geico getting more realistic on Model Y. Maybe they didn't have much data first so they apply VERY conservative approach and rates are high.
Before that I tried many companies with 2 ICE cars and Geico was MUCH lower then others, closest one was progressive about 20% more...
Will shop again once I get my VIN...
 
I'm paying $625/6mo with progressive. 100k/300k, comprehensive and collisions deductible at $500 and $50 for glass. That was cheaper than what we had before which was gieco who offered us $1200/6mo for 15k/35k with $1000 deductibles :confused:
 
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