I had a neighbor awhile back who had a lambo and a 16 year old son. Obviously the kid would never be allowed to even sit in the drivers seat let alone drive it. He proved to them that the key(s) stayed locked in a safe (along with guns and other valuables that are not for everyday use) and they agreed to treat his son apart from the Lambo. I haven't run into that issue yet, with no kids, but as a 27 year old model S owner, the insurance companies are making their money off me... I have to switch about every year to keep them from jacking the rates after luring me in with some intro rate.
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Insurance On Model S?
- Thread starter veritas415
- Start date
I had a neighbor awhile back who had a lambo and a 16 year old son. Obviously the kid would never be allowed to even sit in the drivers seat let alone drive it. He proved to them that the key(s) stayed locked in a safe (along with guns and other valuables that are not for everyday use) and they agreed to treat his son apart from the Lambo. I haven't run into that issue yet, with no kids, but as a 27 year old model S owner, the insurance companies are making their money off me... I have to switch about every year to keep them from jacking the rates after luring me in with some intro rate.
Cooksomerice
Member
Good question.
About $310.00/ month
$200/month in july( before my daughters birthday
Another note. I have not taken delivery yet, so I am still searching.
I am considering every option.
I am looking into emancipation as well, though I am not sure if it will allow me to purchase a separate policy for her alone. I will post updates as I learn more.
⚡️ELECTROMAN⚡️
Village Idiot
People getting new cars right now will not have any active safety features. You know what I mean. I wonder how that will affect our rates.
⚡️ELECTROMAN⚡️
Village Idiot
I'm with Liberty Mutual. I just called to see how my rates will be affected by getting a new MS60 and adding my teenage daughter with good grades and drivers ed discounts. I'm now even happier that I have daughters instead of sons. They said it makes a big difference on your rate. Here's the breakdown:
Currently with three cars two drivers. Nicest car 2012 Odyssey: $170 per month.
Swap 2001 Expedition for MS: $205 per month.
1st scenario but now with teenager: $272
2nd scenario with teenager: $316
Good to see that adding the $70,000 Tesla doesn't affect the rates too much. It's probably time to shop around though. I've been with this company about 8 years.
Currently with three cars two drivers. Nicest car 2012 Odyssey: $170 per month.
Swap 2001 Expedition for MS: $205 per month.
1st scenario but now with teenager: $272
2nd scenario with teenager: $316
Good to see that adding the $70,000 Tesla doesn't affect the rates too much. It's probably time to shop around though. I've been with this company about 8 years.
wesley888
Member
Lot of insurance company have a good discount when you don't have accidents for number of years. Making it a bit harder for other insurance company's quote to beat. So far, although mine seems expensive, I can't find one that is cheaper yet.
iwannam3
Active Member
I contacted my insurance guy and he could not quote me anything by model. Had to send the VIN to HQ so I got VINs off of EV-CPO.
One was an S60 $81K and the other P100D $153K. This is what he said, "These both show as 2016 Tesla’s, no model specified on my system. The first one is $535.77. The second one is $699.08 for 6 months". He added "Good luck with your research. Don’t forget, if you buy one, I want a ride in it ". Insurance for 6 months is 0.66% of the price for the 60 and 0.46% for the 100.
So he has no idea what the model is, but HQ can decode the VIN.
One was an S60 $81K and the other P100D $153K. This is what he said, "These both show as 2016 Tesla’s, no model specified on my system. The first one is $535.77. The second one is $699.08 for 6 months". He added "Good luck with your research. Don’t forget, if you buy one, I want a ride in it ". Insurance for 6 months is 0.66% of the price for the 60 and 0.46% for the 100.
So he has no idea what the model is, but HQ can decode the VIN.
steveho
Member
I also have Ameriprise through Costco. I used to be an employee of IDS / American Express Financial Advisors / Ameriprise years ago, and have had their insurance (IDS Property Casualty) since about 1994 when I was an employee. They had an employee discount and one day I was talking with them about rates, they happened to ask about being a Costco member, and the rate with a costco discount was LOWER than the rate with the employee discount. I have compared insurance rates over the years and nobody can touch my rate. They don't come close.
I just got my Model S yesterday and called them up. I ended up with $305 per 6 months with GAP coverage. I'm a 48 year old male with no tickets ever, and 2 accidents which were both the other people's faults. My insurance company sued one of the individuals and received compensation.
Keep in mind that every state has different requirements of what has to be covered by insurance so rates will vary by state. MN requires full glass coverage if you have comprehensive.
I just got my Model S yesterday and called them up. I ended up with $305 per 6 months with GAP coverage. I'm a 48 year old male with no tickets ever, and 2 accidents which were both the other people's faults. My insurance company sued one of the individuals and received compensation.
Keep in mind that every state has different requirements of what has to be covered by insurance so rates will vary by state. MN requires full glass coverage if you have comprehensive.
Same insurance company. Costco rate. I got $296 for 6 months. Includes gap insurance. I do have multiple discounts like other car, home etc. Deductible is $1000.
steveho
Member
Oops.
The Tesla itself is $364 per 6 months, but they lowered my other two vehicles significantly. This puts the Tesla at $305 higher than what I was paying before with 2 vehicles. Mine is a $500 deductible, and has rental car coverage.
The Tesla itself is $364 per 6 months, but they lowered my other two vehicles significantly. This puts the Tesla at $305 higher than what I was paying before with 2 vehicles. Mine is a $500 deductible, and has rental car coverage.
Just put insurance in place on my incoming P100D (effective on my delivery date). Price from State Farm is $797.86 every six months with the following coverage. I have 4 other vehicles, two houses, umbrella coverage and life insurance on myself and my wife through State Farm so get the multiple policy discount.
I hope your insurance agent sends your a Christmas card.
She does, actually. My insurance bill is my third highest monthly payment behind the mortgages on the houses. It will drop to fourth when the Tesla payments kick in.
It isn't as extravagant as it sounds though. The other house is a starter home I bought before I got married that my disabled mother lives in now, and the other cars are my Leaf, a 2014 Toyota Sienna my wife drives, a 2008 Volkswagen Jetta my mom drives and an old 1996 F-150 I've had forever.
simplesolid
Model S 60 AP2 Glass Roof
Some of you guys seen to pay a lot for insurance. I just put insurance on a brand new Model S and my premium is around $1600 for the year here in Florida, that's not too bad for a +80K car.
Maximapolak
Member
Seems like a lot. I'll be paying 1800 for a 56k truck and an 80k car and I'm in Jersey.
ZAKEEUS
Member
29 year old male
Married
No kids
Louisiana
No Accidents or tickets
Snapshot discount
2 other vehicles
$586 for 6 months for the Model S
Married
No kids
Louisiana
No Accidents or tickets
Snapshot discount
2 other vehicles
$586 for 6 months for the Model S
⚡️ELECTROMAN⚡️
Village Idiot
How long is the grace period between when you get a new car and when you have to tell your insurance company?
Probably varies by state, but Tesla is requiring me to deliver a binder from my insurance company for the Tesla prior to delivery. Even if you don't tell them right away, they typically back date the policy to the day you bought the car when you do tell them. Maybe you can get around that if you switch insurance companies.
TechCU needed me to start insurance the day loan got finalized, which for me was one day before delivery. So I had called my insurance company that day and put Tesla on insurance even though I had not taken delivery yet. Was only a day, so didn't matter much.
