TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker or making a Paypal contribution here: paypal.me/SupportTMC

Insurance for Model X In Canada

Discussion in 'Model X' started by SSD420, May 13, 2016.

  1. SSD420

    SSD420 Member

    Joined:
    Mar 29, 2016
    Messages:
    852
    Location:
    ON, Canada
    Now that I have my VIN for my 90D, I'm trying to source accurate insurance quotes. I contacted my broker and he's having issues finding Model X in his system.

    Anyone else having this issue?

    Any suggestions?
     
  2. vandacca

    vandacca Active Member

    Joined:
    Oct 13, 2014
    Messages:
    1,945
    Location:
    Hamilton
    My insurance company also didn't yet have the Model-X in their system, but I'm not surprised. It's technically not available yet in Canada, and I don't expect it to be in their systems for another month or two (around the time of first deliveries).

    However, they did give me a quote based on the Model-S and I provided them with my Model-X cost. They quoted me $158/year more than insuring my existing 1998 F150.

    They told me that if I give them 24-48 hours advanced notice, they can pull a level to have someone update their system with the Model-X info.
     
  3. SSD420

    SSD420 Member

    Joined:
    Mar 29, 2016
    Messages:
    852
    Location:
    ON, Canada
    I'm expecting a bigger jump than that!

    I'm going from a 2012 Toyota Camry SE to a Model X.. And unfortunately had a couple of speeding tickets stick recently..

    I had previously gotten quotes based on a Model S with all the bells and whistles, assuming it would work itself out to roughly my MX 90D..
     
  4. wallstguy

    wallstguy Member

    Joined:
    Feb 12, 2016
    Messages:
    108
    Location:
    Toronto, Canada
    My insurance company RBC didn't have anything on the X for me either, told me to try again in a month or so.

    I'm getting a 75D Model X ~$140k before taxes

    They did give me a quote for the P90D Model S valued at the same price, and it came to about $100 more annually than my current car: 2010 Lexus RX 350

    However, the deductibles went from $500 to $5,000

    RBC said for a car >$100,000 they don't offer anything under $5,000 for the deductible
     
  5. SSD420

    SSD420 Member

    Joined:
    Mar 29, 2016
    Messages:
    852
    Location:
    ON, Canada
    My insurance broker warned me that jr suspected the same thing. Luxury cars usually command a $5000 deductible, but he will look into it.
     
  6. SSD420

    SSD420 Member

    Joined:
    Mar 29, 2016
    Messages:
    852
    Location:
    ON, Canada
  7. wallstguy

    wallstguy Member

    Joined:
    Feb 12, 2016
    Messages:
    108
    Location:
    Toronto, Canada
    I still find 5k kinda crazy. Most of the time damage to the car in a minor accident isn't that much to begin with!
     
  8. SSD420

    SSD420 Member

    Joined:
    Mar 29, 2016
    Messages:
    852
    Location:
    ON, Canada
    Insurance is a scam.
     
    • Like x 1
  9. EcoHeliGuy

    EcoHeliGuy Member

    Joined:
    Dec 2, 2012
    Messages:
    545
    Location:
    Canada
    Concerning the mentioned quotes only $100-$200 above other older vehicles.

    People think the premium is based on repairing the car, that's not the case. Cars are cheep to repair, In comparisons to humans. The f150 isn't 5 star rated, and the model S (qoute comparisons) doesn't flip.

    Basically your insurance premiums are comprised of a formula (simplified)

    (Health cost + accident repair cost + Acts of nature repair cost + vehicle value) / probability of pay out.

    Probability of payout has factors like: age, gender, car type, crash rating, driver history


    Model X will likely cost the insurance company a lot less in a severe accident, then an F-150 in the same accident. But cost more in small fender benders so high deductible because they can happen many times in the life on the vehicle.
     
    • Like x 1
  10. EcoHeliGuy

    EcoHeliGuy Member

    Joined:
    Dec 2, 2012
    Messages:
    545
    Location:
    Canada
    In a severe accident they might just have to write the Tesla off. With the truck, they might write the driver off too.
     
  11. SSD420

    SSD420 Member

    Joined:
    Mar 29, 2016
    Messages:
    852
    Location:
    ON, Canada
    ):

    I literally just got pulled over for speeding. All I could think about was "f*ck, my MX rates are gonna go up."

    I actually asked, almost begged the cop not to give me a ticket because I just bought a new car!! She wouldn't budge on the ticket, but gave me a mere 15km over instead of the 40km over that she claims I was doing.. Ugh.

    I'm no where near my "guy" who fights my tickets. I'm quite literally in the middle of no where.

    Does anyone have a successful ticket fighter in Guelph, where she said the court will be, if I fight the ticket?
     
  12. EcoHeliGuy

    EcoHeliGuy Member

    Joined:
    Dec 2, 2012
    Messages:
    545
    Location:
    Canada
    If it's only 15km/h and you weren't in a school zone or some other low speed area, your insurance shouldn't move. Unless you have a few others under your belt.

    Now if you lived in BC where the Gov also sells insurance, not to mention the 0.05 alcohol limit. or if they claim you were street racing which is a seizure of the vehicle....
     
  13. SSD420

    SSD420 Member

    Joined:
    Mar 29, 2016
    Messages:
    852
    Location:
    ON, Canada
    Here it's 50km over for a seizure
     
  14. wallstguy

    wallstguy Member

    Joined:
    Feb 12, 2016
    Messages:
    108
    Location:
    Toronto, Canada
    Probably not worth fighting. My insurance went up $300/yr for 3 yrs and I was a 19 yr old when I got it. Similar incident, 36 over the limit in Burlington on the QEW. Officer reduced it down to 15 without me even saying anything just because I had a clean record.
     
  15. SSD420

    SSD420 Member

    Joined:
    Mar 29, 2016
    Messages:
    852
    Location:
    ON, Canada
    I'm Literally in the middle of no where. In the country.

    I do have other tickets that I lost fighting in the last year or so
     
  16. SSD420

    SSD420 Member

    Joined:
    Mar 29, 2016
    Messages:
    852
    Location:
    ON, Canada
    When i was 18 or 19 I got caught driving (in Ontario) coming back from BC doing 50 over. (140 in a 90). I only had my G2 at the time.

    That was long before the street racing laws. The day before I had a paralegal go out to fight the ticket for me, I drive 2 ½ hrs north of Toronto to go get my full G licence in case I lost. I would have lost my licence otherwise. They ended up reducing it down to 49km and my insurance shot up to $5500 per year and I was driving a crappy, second hand, on its 3rd transmission, 94 Chrysler intrepid.
     
  17. vandacca

    vandacca Active Member

    Joined:
    Oct 13, 2014
    Messages:
    1,945
    Location:
    Hamilton
    Yup, most costs for insurance goes to paying for human rehab. That's why it's only an additional $158 for me to insure a 2016 Model-X over a 1998 F150.

    It's not exactly apples-to-apples comparison because they raised my deductible from $500 to $1000. If you want a lower deductible, I'm with TD Insurance (via Security National broker). However, I'm on a group plan with my former university, so not sure if that makes a difference.

    With regards to fighting tickets, I have no experience in that area, but there is a big X-Copper sign on Hwy #6 between Hamilton and Guelph, you could always give them a try.
     
  18. SSD420

    SSD420 Member

    Joined:
    Mar 29, 2016
    Messages:
    852
    Location:
    ON, Canada
    X-Copper is the only company I would never give another nickel to. They lied to me the first time I used them when I was younger. They said they won and I only had to pay them their fee. 2 months later I got a letter from the MTO saying my licence had been suspended for that unpaid speeding ticket. They are such scammers.
     
    • Informative x 1
  19. vandacca

    vandacca Active Member

    Joined:
    Oct 13, 2014
    Messages:
    1,945
    Location:
    Hamilton
    I'm curious, did you go back to X-Copper and notify them of this issue? I wonder if there was some clerical mistake (maybe on their part) that they could have somehow rectified?
     
  20. SSD420

    SSD420 Member

    Joined:
    Mar 29, 2016
    Messages:
    852
    Location:
    ON, Canada
    #20 SSD420, May 14, 2016
    Last edited: May 14, 2016
    I got an "oops, you're right, but we dropped it 1 km, and that still a win in our books."
    That was a long time ago, so thankfully it doesn't affect my driving record anymore.

    EDIT grammar / spelling
     

Share This Page