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Insurance for Tesla
- Thread starter lauterbach
- Start date
The best way to find this out - to make quotes to different insurance companies, including Tesla insurance, and choose the best offer. The cost is based on MANY factors. There is not such a thing as if let's say All State is cheaper for me, it will be the same for you and maybe State Farm or Progressive will give you a better quote
Welcome to TMC.
There is a subforum here for insurance talk, which is here:
With that being said, your question is similar to asking "I want to get a steak at a restaurant, is steak more expensive than other types of meats at restaurants? Which restaurant is better to buy steak at, in terms of the cost?"
In other words, the pricing you get is only going to be specific to you, however there is some feedback that can be provided in that some companies seem to not want to insure teslas (by charging very high pricing) and others may not.
AAA and Farmers in Southern CA seem to be expensive for teslas, but you will need to price it out yourself. You likely already have car insurance, so start with getting a quote ther.
As far as "more expensive than other cars" it depends on what you mean. Its going to be in the category of most german luxury sedans etc as far as costs go, so if you are used to insuring those, similar. If you are insuring old cars or econoboxes, its going to be a lot more.
The repair cost IS high. About as high as it is for repairing a BMW / Mercedes / Audi. Im ignoring anything about "unibody XX" or "4680 that" because what makes the cost high is a somewhat irrelevant to us, in my opinion. The Cost is what insurance companies algorithms decide it needs to be, and they all are different, some drastically so.
I see, good reference. So it’s not more expensive for Tesla insurance wise.
howardnj
Member
Actually for me it almost doubled and I have excellent driving record. I pay about $1200 premium for a 22 Lexus and replacing it with a 2023 Tesla Model Y would cost $2294. Nope not doing it! I will wait. Geico said that Tesla's are very expensive to to repair and that was why the cost is expensive. I guess I will have to stick with Lexus for now, oh well..
Or... perhaps shop around for insurance. They dont all charge the same rates. Geico doesnt want to insure teslas so prices it as such.
Jsvette56
Member
I used my Tesla App to get an insurance quote for my MS and M3.
I can't tell if the app's quote is an annual or monthly price it just says it's The Premium.
I can't tell if the app's quote is an annual or monthly price it just says it's The Premium.
howardnj
Member
I had a Subaru WRX previously, which is a very expensive vehicle to insure (or so I thought...) Lots of WRX's ended up wrapped around a tree or lightpole at some point in their life. Quoting with State Farm, the Tesla was incredibly expensive, $200/month or so. I shifted everything over to progressive, and the M3P is now $273/6 months.
Of course, age, marital status, claims/driving record, and location have a huge impact.
Of course, age, marital status, claims/driving record, and location have a huge impact.
