Insurance data points

[SGM1980]

Just FYI and in case anyone wants to add (if there is already a place for this someone please direct me).

Swapping a 2016 Subaru Outback for a 2020 M3 LR AWD was a $443 per year change.

Total cost of insuring the Tesla for one year through Amica is ~$1000 in North Carolina. Two adult drivers. No teenagers.

 

[tvad]

Swapping a 2016 Subaru Outback for a 2020 M3 LR AWD was a $443 per year change.

Plus $443, or minus $443?

 

[SGM1980]

Plus $443, or minus $443?

Plus ;-) Would be great if it cost less to insure a $50,000 car than it does a $13,000 car!

I'll edit to remove any confusion.

Hmm... Apparently can't edit. Will trust that others guess correctly. - Darn it! It's a 2015 Subaru, not 2016. And I still can't edit the first post!! Now I feel dumb!

 

[Jcmccain]

I'm in MetroWest outside of Boston, MA. We have two drivers and 2 cars, 1 speeding ticket, insured by Plymouth Rock Assurance, all cars with identical coverage.

We replaced a 2008 Sienna that was costing us $640 a year with a 2020 M3 SR+. That will cost us $889/yr.

For comparison, the other car on the policy is a 2012 Prius v. That was costing us $829/yr and went up to $903. That shouldn't have changed at all so I'm disputing it with the insurance company. But, however you cut it, the M3 is costing us less than the 7yo Prius! Must be those safety features.

 

[Jcmccain]

Figured out the cost difference: I was looking at an older policy, so I had been paying $903 for the Prius before and after the M3 was added.

 

[EVDRVN]

Comparing insurance rates is a useless exercise that is always meaningless and can never provide any type of useful data point. You may as well ask what it cost to paint their house.

 

[Pkmmte]

Comparing insurance rates is a useless exercise that is always meaningless and can never provide any type of useful data point. You may as well ask what it cost to paint their house.

How much did it cost to paint your house?

 

[EVDRVN]

How much did it cost to paint your house?

I painted it myself, my neighbors cost seemed too high to me. His house is 2X larger, is in a different zip code, has more dry rot, requires scaffolding, and he chose a very expensive paint. Not to mention it has tons of detail to paint. I'm sure it was a good comparison for cost.

 

[EVDRVN]

I painted it myself, my neighbors cost seemed too high to me. His house is 2X larger, is in a different zip code, has more dry rot, requires scaffolding, and he chose a very expensive paint. Not to mention it has tons of detail to paint. I'm sure it was a good comparison for cost.

My second favorite.. How much does it cost to install a EV charging station? About $300 to $15,000 give or take.

 

[Mrcarcrazy]

For us it was slightly cheaper than our 2013 BMW 335i. Like 3-4 bucks a month. Not a significant change. (Further evidence this is a practice in futility). Comparing a model 3 to a Prius is like comparing a mile to a foot. No offense proud prius owners.

I’m getting quotes from 8-10k to paint my house. If anyone cares. I can send you my Paypal info if you’d like to donate.

I installed my charging station and it cost about 80bucks plus the cost of the wall connector

 

[KenC]

My second favorite.. How much does it cost to install a EV charging station? About $300 to $15,000 give or take.

$85. I stained my own house. My insurance was about the same as on my 2016 Chevy Volt with Liberty Mutual, but I've had LM for 43 years.

 

[tvad]

The thread has devolved into a smallest penis contest.

Cool.

 

[Mrcarcrazy]

The thread has devolved into a smallest penis contest.

Cool.

and here you are...

 

[tvad]

and here you are...

You’re easily distracted.

 

[Mrcarcrazy]

You’re easily distracted.

What? Me? Never! Oh hey look at that!

 

[tvad]

What? Me? Never! Oh hey look at that!

Woof

 

[EVDRVN]

Here is the easiest way to get a data point on insurance. Call multiple companies and get quotes for the exact same coverage. Nothing else is going to be useful for comparison. Your existing carrier may not be favorable to Teslas as many people have discovered. Price shopping is also not the best as service and rating is important when you need it, many carriers will not give you the best representation in tricky situations. Companies like Auto Club and USAA are some of the best and worth every penny at times. Cheap internet carriers or spin-off companies will often cancel you or double your rates after minor incidents. Many people under insure to save a few bucks and unless you live under a rock it is advisable to have $500K in liability and an added umbrella. Today it's very easy to reach those numbers and an umbrella policy gives $1M added coverage for a lower rate and covers outside the auto realm. IMO if you do not have at lest $500K in liability you are rolling the dice even if you "think" you are good driver as mutual fault is more pervasive and even a 10% liability can roll you past your limits if things go to court.

 

[BEPA400]

Plus ;-) Would be great if it cost less to insure a $50,000 car than it does a $13,000 car!

Hard to believe when I saw it, but I fall into this boat. My insurance (basic + 1M liability) went DOWN when I switched to model 3 from a 2015 leaf that I sold for 15k cad. ICBC agent applied a 10% discount for the auto emergency braking feature, and my new premium was actually a bit cheaper. Not much.

 

[acarney]

A better and more helpful way would be to post the different quotes you got. Obviously it will still change based on coverage amount and the person insuring the car, BUT that could give us an idea on which companies seem to be competitive. Maybe some very basic additional info, like number insured, age, sex, and if it's packaged with home insurance as well.

In my case Progressive was significantly cheaper (at least a couple hundred bucks a year) compared to Allstate or State Farm for the same level of coverage. 33 year old male, only driver on the car, and not packaged with any other products.

 

[OCR1]

Coverage limits can drive pricing up substantially. Packaging with homeowners/earthquake/umbrella will generally lower costs. Having a clean driving record, being older, living in “desirable” zip codes, and how many miles per year you drive all affect rates. It’s interesting to hear what others are paying but not at all meaningful when assessing your own rates.

We pay extra to increase rental coverage from $600 per incident to $5,000. It costs an extra $90/year for each car but at least I know if we have an accident and it takes several months for Tesla to get parts I’m covered for a rental car. $600 could get used up very quickly.