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Insurance On Model S?
- Thread starter veritas415
- Start date
simplesolid
Model S 60 AP2 Glass Roof
The P100D is a performance car so you paying a lot more for it as the risk of an accident is much higher due to how fast it is, at least in the insurance companies eyes.
You might try Progressive. I'm paying about half of that in the SF area for a new-ish P90DL, and others in the thread seem to have gotten as good or better deals. There are wide variations from insurer to insurer so it definitely pays to shop around.
I am financing part of my S and had to provide proof of insurance during the delivery process which showed the Model S VIN,
My friend didn't have to provide any proof of insurance but that was probably because he didn't finance his.
The cost to repair a Model S and that only Tesla certified repair centers can fix it is the reason for high insurance costs.
I replaced my Model S with a 911 with same sticker price as as P100D and my insurance dropped almost a $1000 per year.
I replaced my Model S with a 911 with same sticker price as as P100D and my insurance dropped almost a $1000 per year.
I wonder if State Farm either hasn't caught on yet or doesn't differentiate between the various models, because my rate is only about $200 more every six months than the rate on my Leaf which cost about 1/5th the price of the Tesla.
⚡️ELECTROMAN⚡️
Village Idiot
Tech CU only asked to see the coverage on my current cars. Liberty Mutual says I have a 30 day grace period and that they don't back date from purchase date.
I wonder how Tesla insurance is doing, where it's available.
The area you live is a major factor too, Im in Hillsborough county Florida which has the second highest rate of insurance fraud in the state.
If I use my wife's old address in upstate NY our rate is half of what we pay in Florida.
I used Amica when I had my Tesla and the rate was the same no matter which Model S I had.
I left Safeco (terrible rate on collision for the tesla) for Progressive. I am paying $612 for 6 months on my S75. Coverage is 100/300, non-stacked uninsured motorist, $500 collision and comp deductible. I also waived medical payments, roadside, and rental car coverage as I have good health insurance, AAA, and a 3rd car so no need for any of those coverage's. It is about $150 more for 6 months than our 2015 Yukon which seems reasonable based on it being faster, a little more expensive and probably much more expensive to fix...
Damn that's alot. Def try out Progressive. I don't even pay $3k for my Ferrari 458. My Tesla is about $1200 per year.
Be aware that Ameriprise will *NOT* insure a car for more than $100K. I just found this out.
ucmndd
Well-Known Member
Like some others commenting I found Ameriprise to be far and away the most affordable for my individual situation. They undercut basically every other quote I got (and I got a LOT of quotes) by half.
We'll see how that holds up after a few renewal cycles...
We'll see how that holds up after a few renewal cycles...
mbhforum
Active Member
For those quoting Geico, I discovered a potential flaw/savings depending on how you look at it. When I punched in the VIN of my 2015 CPO I am in the process of buying, it came up as "2015 Tesla Model S". When I was finalizing my quote, I noticed a link about assumptions, so I clicked on it and it allowed me to change the vehicle to "2015 TESLA S 85KWH". Doing this dropped my premium by $200 a year compared to the "Tesla Model S" configuration. There was also a "2015 Tesla S 85" which came up with the higher premium as well. Now here is the kicker, when I went through the process of adding the vehicle, it jumped back up to the higher premium. I then called Geico and explained the entire situation to them and they honored the lower premium as long as I can produce evidence that it is indeed an 85kHW which I should be able to do with a bill of sale. Unfortunately, the quote is only valid for 14 days and I probably won't receive my CPO for after that, so hopefully they will honor this later on.
As usual with insurance, YMMV, but you should definitely try all of the different options available. See below.
As usual with insurance, YMMV, but you should definitely try all of the different options available. See below.
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FlatSix911
Porsche 918 Hybrid
mbhforum
Active Member
$1300. (I'm in NY) Originally they wanted $1400, so I was going to switch to Progressive. My BMW328xi is $1100. My coverages are pretty high though. 300/300 for liability. 100k for personal property, 300/300 for uninsured motorists. $500 deductible. Married, 38 with no kid drivers in the house. We both have clean records, although my wife did have an accident almost 5 years ago. I might raise my deductible to $1k or lower my coverage.
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