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Insurance On Model S?

Discussion in 'Model S: Ordering, Production, Delivery' started by veritas415, Sep 13, 2016.

  1. veritas415

    veritas415 Member

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    Sep 12, 2016
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    Location:
    san francisco
    Hey Guys,

    Just placed my order yesterday for a 60s, having trouble finding the best insurance to work with. Quotes I'm getting are 300-400/month. I know insurance rates vary, but is anyone in a similar boat able to get their rates down?

    Age: 27
    Gender: Male
    Single
    San Francisco
    Clean driving record.
     
  2. Max*

    Max* Autopilot != Autonomous

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    You need to become a married older woman if you want lower rates ;)

    All kidding aside, there are too many factors that go into this. Geico gave me the lowest quote (barely higher than my old car, which was shocking). For others Geico was sky high. It pays to shop around though.
     
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  3. DÆrik

    DÆrik Member

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    Location:
    Colorado
    I am 27, Male, Colorado, kinda clean driving record (some older speeding tickets, etc). I pay ~$1,000/6 months through Progressive for the same insurance level I have always held. My 2014 Ford Fusion was ~$800/6 months. So not to much of a price increase for a car valued over 3x the price.

    The biggest thing the look out for is that if you give them a VIN, make sure it pulls up the proper car. A lot of people have been giving insurance companies VINs that pull up performance models and will cost much more. So make sure they actually pull up the right spec'd car!

    Thanks Erik
     
  4. CUBldr97

    CUBldr97 Member

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    OK, lots of stuff about insurance in this group and on FACEBOOK. Stay away from GEICO, once you have a claim it will be a nightmare...Not a single good news story about TESLA and GEICO... Progressive too... Who is your current insurance company? look for the TESLA OWNERS WORLD WIDE group on facebook, there has been several discussion about insurance in the past week.
     
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  5. SD_Engnr

    SD_Engnr Member

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    Mar 24, 2016
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    Location:
    San Diego
    I don't have a Model S, yet, but when I was quoting a couple of weeks ago, GEICO (current insurer) quoted me around $18-20 more per month than my current 2011 G37 sedan. The quotes were based on the classic P90D/P90/P85D. Not sure about the refresh.

    Details: M,35,3 insured cars, married, clean driving record (1 ticket, 1 minor fender bender).

    As I'm sure you know everything costs more in SF! Good luck!
     
  6. Science fan

    Science fan Member

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    Boynton Beach, FL
    I recommend anyone who is 55 or older to consider Hartford through AARP. Very, very good rates for good coverage.
     
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  7. Snerruc

    Snerruc Member

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    I'm in my 70's State Farm is $1000 a year for heavy coverage. A second on making sure the vin pulls the right model. Mine shows S90 d when i have a S60. Getting that sorted out but they say it won't change rate.
     
  8. Frankman60

    Frankman60 Member

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    Location:
    San Diego, CA
    Check out Ameriprise through CostCo. Go to the CostCo website and search for insurance. Consumer Reports rates them high in customer satisfaction and I found their rates to be very reasonable. My six month premium is $417 with the maximum coverages offered and $500 deductibles. For $10 extra it also includes guaranteed replacement cost for first year of vehicle ownership or 15000 miles.

    I checked around for insurance and I believe there is more variability in pricing between insurance companies for Teslas compared to other automobiles. One cause that was already mentioned is the inaccurate VIN decoding by the insurance companies. But I think the other cause is that some insurance companies haven't figured out how costly it is to repair a Tesla and some insurance companies that insure a lot of Teslas have figured this out and charge a premium for Teslas.
     
  9. doubleohwhat

    doubleohwhat Member

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    Alabama
    Like others have said, the insurance rates seem to vary wildly for a Tesla. One person may get the best rate with GEICO and another will get the best rate with State Farm. I had luck with USAA. I think the key thing with a Tesla is to shop around.
     
  10. RobInAZ

    RobInAZ Member

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    Scottsdale, AZ
    I think some insurance agents have trouble understanding the model (i.e. 60s vs. P100DL). Maybe try getting a vin from the model you are looking for and asking them to quote that rather than just saying a model s.
     
  11. MDinFL

    MDinFL Member

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    I agree on Costco/Ameriprise. They no longer write new policies in Florida, but will write for existing policyholders. I just added my Model S in exchange for my 2011 535 and my annual premium increased by about $200. for 500K coverage, my model S costs just under $1,200 per year including rental reimbursement. I was pleasantly surprised. It's still cheaper to insure than my daughter's Mazda3.
     
  12. ichospitalist

    ichospitalist Member

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    Apparently it varies by state too. GEICO charges about 400 per month for a Tesla registered in Iowa. That is reduced in half in states like NV. Definitely good to shop around.
     
  13. XLR8OR

    XLR8OR Member

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    My cost to insure my S90D at USAA for a $300/$500K policy with $100 deductible for both collision and comprehensive is just under $1K for 6 months
     
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  14. rpo

    rpo Member

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    I am paying $740 per year (not six months) with Ameriprise through Costco for my S85. 33 year old male with zero accidents/tickets and 300/500k coverage. There was a $20 discount doing an annual policy vs six months that was pitched to me when I first obtained the insurance.
     
  15. Cyclone

    Cyclone Active Member

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    As others have said, it varies greatly on location, your driving history, credit score, etc.

    I just switched from Travelers to Progressive and with the same high coverages, I went from $600ish every 6-mo to $350 every 6-mo.

    low-30s male, no accidents or tickets, high coverage amounts
     
  16. MorrisonHiker

    MorrisonHiker Beta Tester

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    I just got a quote from Safeco yesterday. Unfortunately, they show the VIN for my S 90D as an S P90D. 45 y/o male, no accidents or tickets, multi-car discount, multi-policy discount, 250/500 coverage was $1858 a year. They said it could be cheaper if they could fix it so that the car wasn't identified as a performance model...but I'm not going to get a policy from them based on that "if" so I'll probably be shopping around for some other quotes.
     
  17. CLLACAB

    CLLACAB Member

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    Since you are in California, try Wawanesa. They are very competitive. They also write 1 year policies so you don't have to deal with rate creep every 6 months.
     
  18. hybridbear

    hybridbear Member

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    I created a spreadsheet to track options from different companies when I ordered my car. I am also 27, male & single with no accidents or tickets on my record. Progressive was the cheapest for me at $462 per 6 months for $250k/$500k liability & uninsured/under-insured motorist coverage, with $0 glass coverage & $500 deductibles for comprehensive/collision. The next cheapest was Esurance at $709 for less coverage. State Farm was $800 and no one else came in at under $1000 per 6 month policy term.
     
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  19. No2DinosaurFuel

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    #19 No2DinosaurFuel, Sep 14, 2016
    Last edited: Sep 14, 2016
    I think SF is your problem.

    San Diego, 29 male, max coverage Geico offers and I pay ~$1600 a year on 2 EV cars. 20K miles/year on the Tesla 90D and 5K miles on the other EV. If I remove the other car, I reckon it would be around $1K per year. Before the Tesla, the other car was around $1K/year with only 10K miles/year.
     
  20. Xenoilphobe

    Xenoilphobe Active Member

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    Does autopilot drop or increase the rate?
     

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