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Insurance for Model S is surprisingly low (for me at least)

Discussion in 'Model S: Ordering, Production, Delivery' started by SamGarber, Sep 18, 2013.

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  1. SamGarber

    SamGarber S85 "Whale Shark"

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    So I remember seeing a bunch of threads on insurance here. I wanted to share my experience. My current car arrangement is a 2013 ML350 and a 2011 Camry Hybrid. I am paying $2808 per year on both (or $1404 per six months). Swapping out the Model S-85 for the Camry next month, my insurance only went up very slightly. It now shows $3264 (or $1632 per six months). For a car that costs more than three times that of the Camry Hybrid when it was new, a modest increase of $228 (or $19 per month) is very good in my book.

    +1 for State Farm for being way more Tesla-friendly than even GEICO and some others that I can name.
     
  2. CygnusX-1

    CygnusX-1 Member

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    It appears I'll be up about $30/mo going from a 2007 Mini to the 2013 Model S. I'm fine with this. I'm on Progressive.
     
  3. strengthcoach4

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    Same here. I came from a Tundra Crew Max 5.7L and Progressive lowered my insurance about $20/month.
     
  4. fuelsman

    fuelsman Member

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    I had Kemper Direct (Unitrin, was Response Worldwide) for 2004 Chrysler Pacifica and 2005 VW Passat TDI Wagon for $1600 a year (in Florida). Switched to AARP Hartford and added my new Tesla S P85 for a three car policy for $1990 a year (with discount for paying for full year). Everyone else was quoting $2900 - $3400 per year for three vehicles. Very reasonable insurance rates for Tesla with one year term (not six months though it is an option) from AARP Hartford Auto Insurance.
     
  5. rrkessler

    rrkessler Member

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    I'm replacing a 2010 Prius with the S85 and my rates will go down. We use an independent agent who got us rates with Encompass (which is related to Allstate in some convoluted way).

    B.
     
  6. caddieo

    caddieo Member

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    I'm paying State Farm $1575 a year for my P85 as part of a 4-car policy (Audi A8, Honda Odyssey, BMW 2002tii).
     
  7. CanuckS#69

    CanuckS#69 Member

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    My MSP costs less to insure than my 2001 Dodge 2500, go figure.
     
  8. CygnusX-1

    CygnusX-1 Member

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    hmmm. maybe I *shouldn't* be fine with +$30/mo. Time to call around....
     
  9. Mario Kadastik

    Mario Kadastik Active Member

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    You lucky bastards. For me the previous car (Mitsubishi Lancer Evo X) had an annual rate of 920 eur / year, the Model S initial offer was 7800 eur / year, the second offer from a different insurance after haggling a bit was 4600 eur / year and then a third insurer (who initially said categorically no, but after I spoke to the risk management boss for an hour over the phone about the Model S they promised a quote) was 2300 eur / year. I'm going to call that a win and go with it. Afterall, the MS is 4x more expensive than the Evo X so paying 2.5x the insurance premium has to be a win (even though the Evo X is far overpriced in insurance because of what it is).
     
  10. yobigd20

    yobigd20 Well-Known Member

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    Mine went down $200/year compared to my range rover evoque which was half the price $@ 55k.

    FWIW insurance on my P85 for 100/300/100 coverage is about $450/6mo.

    However i am up for renewal in a few days and due to the large P85 price increase last month I think i am going to change my coverage to a 500 blanket policy. 100 just isn't enough now to replace my P85 since it when up about $15k.
     
  11. WeazL

    WeazL Moderator - Hawaii

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    It would be interesting to see if rates change (for the better) now that the crash safety ratings have been released, proving beyond a doubt that the MS is an ultra safe vehicle for passengers. This of course, is only one aspect of the multi-faceted insurance premium (a lot of which is based on other factors), so I wouldn't expect things to change by much.
     
  12. texex91

    texex91 Banned

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    That's been out for a while now--don't count on it.

    Still get good rates anyways on Tesla.
     
  13. SarahsDad

    SarahsDad Member

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    My Tesla is insured for less than my old M5, and much less than my daughter's 2011 Ford Escape. Of course her being 16 years old might have something to do with that...
     
  14. Mayhemm

    Mayhemm Model S P85+ "Lola"

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    The insurance for Model S is $300 less than my '11 Audi TT. :scared:

    Seems strange for a new-to-market vehicle with mostly proprietary parts...

    Although, I won't be getting my MS for another six months and a lot can change between now and then. :eek:
     

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