My Geico quote went up drastically too! Just did it today. Had to increase collision deductible from 500 to 2500 to make it reasonable.
Guess I'll look for some other quotes..
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Insurance costs?
- Thread starter tkline
- Start date
Guess I'll look for some other quotes..
$799.45 every 6 months for me.. 35 years old clean record, some discounts with multi car and house insurance.. my limits are raised because I have umbrella policy so..
I know it's not a correct thing to say, but if you can't afford insurance, you can't afford this car.. very sarcastic thing to say I know, as everyone is just going to say well what's wrong with saving money... nothing wrong, just saying if we need tot all about insurance rates you're looking at the wrong car in my opinion.. but I follow the 80/20 rule where 20% of my efforts gets me 80% results... the best thing to do is if someone is concerned about rates, is get an independent insurance broker and they will find you the best rates then, poof let them do the work and sit back and get the best rate
I know it's not a correct thing to say, but if you can't afford insurance, you can't afford this car.. very sarcastic thing to say I know, as everyone is just going to say well what's wrong with saving money... nothing wrong, just saying if we need tot all about insurance rates you're looking at the wrong car in my opinion.. but I follow the 80/20 rule where 20% of my efforts gets me 80% results... the best thing to do is if someone is concerned about rates, is get an independent insurance broker and they will find you the best rates then, poof let them do the work and sit back and get the best rate
ElectrekPanda
Member
I got insurance quotes similar to this. From this thread, I saw people getting lower quotes but it really depends where you live, age, claim history, etc.
Leeclanual
Member
This is very true. For comparison I can tell you that my model 3 thru State Farm is the same price as my Challenger, which is twice the price of my Wrangler 2 dr. All with the same coverage. I have found that the Challenger/model 3 is the highest cost car to insure of all the cars I have owned including many cars twice its price BMW X5 and 328i convertible and a Volvo. It is also more expensive to insure than a Subaru Crosstrek whose primary driver is a Male under 25, and we all know how expensive their insurance is. I think that the cost of repair is the major factor here. Any accident that requires replacement of that battery pack scares the insurance company.
jkoya
NA2 NSX
When I got the Model 3 Performance in December, I didn't even shop around and just called AAA to add the Tesla to our existing policy. After reading through the posts on this thread, I decided to look at what I'm actually paying. Surprisingly, the cost for our 2016 Volt is $157 more than the Tesla. Our most expensive car insured is our 1997 Acura NSX. Exact same coverage for all 3 cars.
Since Tesla dropped the price of their cars, I'm wondering if anyone has gone back to their insurance company and asked for a requote? In our case, our performance model 3 originally cost 78K, and is now available for 66K, a reduction of 12K. Although I am looking to lower our monthly insurance bill, I'm not certain what the implications are as it relates to its true replacement value, in particular since the car is partially financed.
lampcord
Member
For those of you who are getting good insurance rates, did you get glass coverage? That's one thing that concerns me since it's a lot of glass.
BOBEDIGITL
Member
I have Mercury and was terrified to even receive my quote. When I received my model 3 last July, I was paying about $105 a month for 2010 Honda Accord Coupe EX-L. Clean record. Going for the model 3, I was expecting an increase of about $50-$75 a month. It my surprise, it only went up $20 so I'm paying $125 for full coverage.
Do you mind sharing the 6 month cost for your model 3? I have the same company mine is 732.87 semi annual, annual 12k-15k mileage usage, tenure multi vehicle, good driver discounts
I shopped around and other companies were much higher, Wawanesa was lower by $6 so wasn't worth it to switch. Paying 189.96 a month for 2 vehicles.
Costs can be significantly different, depending on where you live, how far you drive, your driving record, and whether or not you've ever filed a claim. Here in the NY/NJ area, when I went to originally buy our Model 3, I was told by our Tesla sales rep that people were paying an average of around 300-350 a month for insurance. This is in-line with what I am paying now, and as I read the forums, I'm begining to realize just how high insurance rates are here.
We are living in NJ, have 2 vehicles with Geico along with homeowners, etc. policy for multi-line discount. My wife is the primary driver of the Model 3, deductibles are $50/$500 for comprehensive and collision. We are paying $708 every 6 months for the Tesla, which equates to about $118 every month.
$100k/$300k for Bodily Injury, and $50k for Property. Bumping it up to $250k/$300k/$100k would be an extra $5/month.
I was worried about what I'd be quoted at, but the quote was roughly the same as my 2017 Nissan Leaf. I'm with State Farm, and do leverage fairly significant discounts due to combined home, auto and umbrella policies and low annual mileage (which for State Farm is anything under 7k miles per year). Coverage was about $550 for 6 months, with $300k/$500k for injury, $50k for property, $1k deductible for collision, $500 for comprehensive, and coverage for under and uninsured situations. The quote was actually decently less than $600/6 months but it will end up about there once I pull the Leaf off my policy in a few weeks and lose the multicar discount). Didn't think that was bad as I only have a year and a half of auto insurance history as I didn't own a car for 10 years prior to late 2017. I'm in my early 30s if that matters. No tickets or at accidents to my name.
I'm in NJ, just got my model 3 last week. Switching from Fitchburg (no name company that sells only through insurance broker) to allstate. My insurance rate dropped about 20%. went from 09 Civic to model 3. Now I'm paying close to 1100 per 6 months for 3 cars, big reason was wife had multiple careless driving tickets within the past 2 years.... sigh.
Everyone's situation is different, just get as many quotes as you can. Progressive, geico, all state, even call a local insurance broker as they might have good rates.
Everyone's situation is different, just get as many quotes as you can. Progressive, geico, all state, even call a local insurance broker as they might have good rates.
srs5694
Active Member
FWIW, my best quote was from Progressive. I don't have the figure in front of me, but it was roughly $480 for the first six months, but that included a first-month new-customer discount, so it would go up a bit after that, to just over $500 for the second six months. This was significantly better than the insurance company that insures my Chevy Volt (Geico), which quoted me $1171 per six months for the Tesla. (I'm currently awaiting delivery of my Tesla.) I got other estimates, too. Most were in the $600-$800 per six month range, IIRC; but one or two were pricier than Geico. I was surprised that Geico was so costly; when I switched to them a few years ago, they had the best rate for my car at the time.
As others have said, of course, many factors other than the car can have huge effects on insurance rates, so take the above more as guidance on what companies might be worth looking into, not what you might end up paying.
As others have said, of course, many factors other than the car can have huge effects on insurance rates, so take the above more as guidance on what companies might be worth looking into, not what you might end up paying.
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