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Insurance costs?
- Thread starter tkline
- Start date
srs5694
Active Member
There are so many other variables that I'm reluctant to answer the question, since the other variables make the answer meaningless to you; but....
$250,000/$500,000/$100,000 bodily injury & property damage with a $500 deductible.
jkoya
NA2 NSX
$571 for the semiannual period beginning 3/25, up from $487 for the previous semiannual period.
$250k/$500k/$100k; $250/$500 comp/coll; new car gap cvg included.
This is in West LA.
Bryan L
Member
When I added my M3 (LR, DM, FSD) I was blown away how expensive it is. My 2016 Yukon XL Denali (a more expensive vehicle) is around $1500/yr with a 500k liability limit and a $1500 collision deductible. My 2016 Lexus ES 350 was $1300, and to add the M3 was $2800! This is with Safeco and I have my agent shopping it out currently. Another friend took delivery this week of a M3 (LR, RWD, FSD) and his insurance is only $1100/yr. Hopefully, my agent will find me a more reasonable company to insure through!
Mdoss
Member
I called my carrier (Progressive) and got an estimate for my upcoming Model 3. I told them I would be replacing the Nissan Leaf on my policy. The difference in cost was about $150 more per year to replace the Leaf with the new Tesla. Not bad at all, about $12/month extra...
Got 3 cars, 2 adults and 1 teenager on my policy. About to add another teenager... Not looking forward to that next bill!!!
But yeah, adding the Tesla is not nearly bad as I was thinking it would be... We'll see if that changes once they get an actual VIN number to plug in..
Got 3 cars, 2 adults and 1 teenager on my policy. About to add another teenager... Not looking forward to that next bill!!!
But yeah, adding the Tesla is not nearly bad as I was thinking it would be... We'll see if that changes once they get an actual VIN number to plug in..
I haven't ordered my Model 3 yet, but I was curious .. someone I was chatting with says that Teslas and other EVs have higher insurance rates. The liability is cheaper with all of the safety features, but due to all the expensive tech and sensors everywhere, the costs to repair are way higher than a gas car, and that makes the insurance rates go up a lot. Is this true? When you switched to your Tesla the first time, did you notice a significant increase? Just curious
Get ready to be taken to the CLEANERS... its simply highway robbery in more ways than one!
Ins. Agent: "Oh you wish to insure a Tesla with us?... let's see... ChaChing $$$ ChaChing!"
Sad part, all Tesla's have approx. 40% less components than a conventional I.C.E. driven car, so there's far less replacement parts and costs, but they charge MORE to insure Tesla's anyways. Supply and demand I guess, gouging the market simply because they can!
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For those of you battling extremely high insurance rates, you might want to try a service called Gabi. I haven't officially moved my policy over, but I did submit my DEC page, and license information and they found me a cheaper policy with Kemper Auto Insurance. The total comes out to about $1,300 less per year.
Just got a quote from Geico. We’re getting our Model 3 delivered tomorrow and our policy will go up by $800 per year. Yikes!I haven't ordered my Model 3 yet, but I was curious .. someone I was chatting with says that Teslas and other EVs have higher insurance rates. The liability is cheaper with all of the safety features, but due to all the expensive tech and sensors everywhere, the costs to repair are way higher than a gas car, and that makes the insurance rates go up a lot. Is this true? When you switched to your Tesla the first time, did you notice a significant increase? Just curious
srs5694
Active Member
Shop around. I had the same "sticker shock" with Geico when I got my estimate for a Tesla Model 3. I found that Progressive was less than half the cost of Geico for the Tesla -- in fact, I'll be paying less to insure my Tesla with Progressive than I'm paying now to insure a 2017 Chevy Volt with Geico. Coverages are roughly similar, but the offerings from the two companies don't line up exactly. (I'm not really trying to promote Progressive here; there are so many variables involved that I can't promise any savings by going with them. Shopping around, though, may well result in your finding a company with better rates.)
I picked up my Model 3 AWD this week. I was driving a 2014 Durnago (still have it) and that was around $800/yr through Geico. The Model 3 was going to cost $2000/yr for a total of $2800.
The Tesla rep stated they worked with a local rep through Liberty Mutual who know how to get good quotes on Tesla's. I got a quote for $920 on the durango and $880 on the Tesla. So $1800 total for the year.
Not sure if he can handle insurance in all states but if anyone wants his info let me know.
The Tesla rep stated they worked with a local rep through Liberty Mutual who know how to get good quotes on Tesla's. I got a quote for $920 on the durango and $880 on the Tesla. So $1800 total for the year.
Not sure if he can handle insurance in all states but if anyone wants his info let me know.
2012MS85
Member
Yes, my annual cost with Progressive is about $400 for my 2012 P85 vs about $300/yr for my 2018 MR3 with EAP/FSD. My cheap rates are attributed to many factors: my wife and I both have perfect driving records, zero claims, $250k/$500k liability w/ $1k deductibles, and we insure a total of 9 cars, 2 motorcycles, and our home all with Progressive. We’re renewing for our 4th year with Progressive and have only experienced modest price increases. Had been with Allstate before that and my four EVs were more than double the cost! Every insurance company has actuaries with quite different risk profiles for EVs (Tesla is 5-star safety rating, but also crazy expensive to fix). So everyone should shop around for what’s best for you, in your state and unique profile.
Bryan L
Member
My agent just switched me to Travelers and my rate went from $2800/yr with a 500k combined limit and $1500 deductible to $1300/yr with same coverage and only a $1000 deductible. It pays to shop your insurance if you are just getting your new Tesla!
TomT
Technical Maven
When I got my 3, I was amazed at how inexpensive the insurance was... It is cheaper than both my Volt, which it replaced, and our other car which is a 2013 Ford Escape Titanium...
GlennH
Member
Has anyone researched what auto insurance companies actually pay off the best?
I have see horror stories like being forced by the insurance company to take a car that should have been totaled in an end to end collision and getting it "fixed" instead of totaled -- probably because of the cost of Teslas.
I have see horror stories like being forced by the insurance company to take a car that should have been totaled in an end to end collision and getting it "fixed" instead of totaled -- probably because of the cost of Teslas.
Atari2600
Active Member
I would imagine the opposite is true with Tesla Model 3. So expensive to work on and such a delay that they will be totaled before most other cars would.
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