Insurance quotes for Model 3

[pmich80]

So do most of the insurance companies have rates available for checking? I thought we needed VINs?..
@McFlurri How's that list coming along?

 

[McFlurri]

@pmich80

OK.. I have received a few quotes.

Firstly, the details for comparison;
Currently under Belair Direct
2012 Ford Fusion SEL

(No tickets/ accidents/ policy cancellations)

10km to work 1 way
15,000 annual km
$1,000,000 liability
$500 Deductible Collision
$300 Deductible Comp
Accident Forgiveness
$130,000 Optional Medical
Winter Tires
Auto Comfort Package
$400/ week income replacement coverage

Bundled with Home insurance

Currently;
$1366/ year (Auto)
$876/ year (Home)


Model 3 Quotes (Only addition from above coverage is the Waiver of Depreciation/ Guaranteed Replacement Coverage)


Belair Direct - $1841/ year ------ + $475/ year (Same home insurance of $876/ year)
Clearly shows they don’t want to insure this car…

Johnson Insurance - Still Doesn't have the vehicle on file. Wants VIN.
I really want a quote from Johnson as I also have a group discount through Conestoga College. But they are refusing to put in the rate groups like Cowan Insurance did using Aviva’s numbers. I am hoping though that they have an option for a lower deductible unlike Cowan Insurance.

Aviva Insurance - $1491/ year ------ + $125/ year (But with $500 Deductibles)----- Home Insurance $1177/ year (with $0 Deductibles) + $301/ year = +$426/ year
- $1743/ year ------ + $377/ year ------ Without bundling Home Insurance
Tesla Has partnered with Aviva for the Insure My Tesla Program. Also, they have a very interesting "disappearing deductible" program. From my understanding its something like.. for every year you don't file a claim your deductible goes down. Pretty cool and so far no other insurance company i've spoken with does anything like this.

Statefarm- $1690/ year ------ + $324/ year (But with $1000 Deductibles)----- Home Insurance $1216/ year (with $1000 Deductibles) + $340/ year = +$664/ year
- $1771/ year ------ + $405/ year ------ Without bundling Home Insurance
The most expensive thus far.

Cowan Insurance- $1367/ year ------ + $1/ year (But with $1500 Deductibles)----- Home Insurance $669.60/ year (with $1000 Deductibles) - $206.40/ year = -$205.40/ year
- $1503.70/ year ------ + $137.70/ year ------ Without bundling Home Insurance
An important point to note is I get 25% off Auto and 20% off Home due to a Union membership discount. Also.. this may change slightly as Cowan doesn’t have the Model 3 on their system yet… but was able to manually adjust the rate groups to match what Aviva and a few other companies are using. So the important thing is still to get a VIN. The other major problem is that my deductibles go from $500 and $300 to $1500! (No mater how much I begged they said there is no way to lower the deductible... ). Very interested to see what Johnson insurance comes in at.

Coseco (The Co-operators) - $1425/ year ----- + $59/ year (But with $1500 Deductibles) ---- Home Insurance $1020/ year + $144/ year (no flood coverage) = + $203/ year
- $1638/ year ----- + $273/ year ----- Without bundling Home Insurance
The problem I have with Coseco is that when I first got my quote, it was $1267/ year. I'm like.. great! Imma call these guys for sure! When I did though, the agent said that the insurance rates are going up in May to what I've posted above, just because. Then it's another 15% if I dont go with them for Home Insurance. Also, not comfortable with no option at all for Ground Water and Overland Water protection.



TL;DR - Price difference of -$205.40/ year (But with higher deductibles) to + $664/ year (With same coverage or worse).

 

[pmich80]

Thanks for detailed response @McFlurri Did you end up calling most of these places or just doing it online? What's an auto comfort package?

There's a couple more I want to eventually take a look at. Intact and TD M. I'm also going to try with Aviva as well.

 

[McFlurri]

Thanks for detailed response @McFlurri Did you end up calling most of these places or just doing it online? What's an auto comfort package?

There's a couple more I want to eventually take a look at. Intact and TD M. I'm also going to try with Aviva as well.

All of these I phone called.

The online quotes are often incorrect when you actually call the company so I spent almost an hour on the phone with each company to make sure I was getting the same or as close to the same coverage across the board.

Please see the attached file which explains Belair's Auto Comfort package

 

[Pescakl1]

Also, they have a very interesting "disappearing deductible" program. From my understanding its something like.. for every year you don't file a claim your deductible goes down. Pretty cool and so far no other insurance company i've spoken with does anything like this.

I am with TD Meloche Monnex, and they have a similar program.

 

[T3slaCanuck]

Comparable to what I pay for insuring a Prius in Toronto. Are you replacing another car and if so, how is the quote compared to your current insurance?

I'll be honest. I haven't owned a car in a decade. Basically once I moved downtown, I sold my car. So I never realized how expensive insurance was for living in the downtown core. Maybe I should move to a house in the burbs where insurance is cheaper and I can charge my car....

 

[pmich80]

I

I'll be honest. I haven't owned a car in a decade. Basically once I moved downtown, I sold my car. So I never realized how expensive insurance was for living in the downtown core. Maybe I should move to a house in the burbs where insurance is cheaper and I can charge my car....

I did a quick online quote between my parents place in Newmarket and mine in scarborough and the difference was 40%. Hopefully when I call I'll get better rates. Right now it shows well over $2000

 

[03DSG]

I used the Yorkdale Model 3 VIN to get quotes. It was in the system. Quotes using it should be accurate.

 

[McFlurri]

***UPDATE***

OK.. I have received a few quotes.

Firstly, the details for comparison;
Currently under Belair Direct
2012 Ford Fusion SEL

(No tickets/ accidents/ policy cancellations)

10km to work 1 way
15,000 annual km
$1,000,000 liability
$500 Deductible Collision
$300 Deductible Comp
Accident Forgiveness
$130,000 Optional Medical
Winter Tires
Auto Comfort Package
$400/ week income replacement coverage

Bundled with Home insurance

Currently;
$1366/ year (Auto)
$876/ year (Home)


Model 3 Quotes (Only addition from above coverage is the Waiver of Depreciation/ Guaranteed Replacement Coverage)


Belair Direct - $1841/ year ------ + $475/ year (Same home insurance of $876/ year)
Clearly shows they don’t want to insure this car…

Johnson Insurance - $1409/ year ------ + $43/ year (But with $500 Deductibles)----- Home Insurance $756/ year (with $1000-$2000 Deductibles) - $120/ year = -$77/ year
- $1547/ year ------ + $181/ year ------ Without bundling Home Insurance
An important point to note is I get 25% off Auto and 20% off Home due to a membership discount with Conestoga College and I also get $100 off per year because my wife has a vehicle insured through Johnson, so I get a multi vehicle discount (This also means that she will get a 20% discount on her vehicle insurance if I switch over). Also.. this may change slightly as Johnson doesn’t have the Model 3 on their system yet… but was able to manually adjust the rate groups (It’s almost the same rate groups as what Cowan Insurance is using.. but slightly different). So the important thing is still to get a VIN.

Two big benefits I see with this quote is; $500 Deductible vs $1500 Deductible through Cowan, and my wife saves an additional 20% on her Auto Insurance.

Aviva Insurance - $1491/ year ------ + $125/ year (But with $500 Deductibles)----- Home Insurance $1177/ year (with $0 Deductibles) + $301/ year = +$426/ year
- $1743/ year ------ + $377/ year ------ Without bundling Home Insurance
Tesla Has partnered with Aviva for the Insure My Tesla Program. Also, they have a very interesting "disappearing deductible" program. From my understanding its something like.. for every year you don't file a claim your deductible goes down. Pretty cool and so far no other insurance company i've spoken with does anything like this.

Statefarm- $1690/ year ------ + $324/ year (But with $1000 Deductibles)----- Home Insurance $1216/ year (with $1000 Deductibles) + $340/ year = +$664/ year
- $1771/ year ------ + $405/ year ------ Without bundling Home Insurance
The most expensive thus far.

Cowan Insurance- $1367/ year ------ + $1/ year (But with $1500 Deductibles)----- Home Insurance $669.60/ year (with $1000 Deductibles) - $206.40/ year = -$205.40/ year
- $1503.70/ year ------ + $137.70/ year ------ Without bundling Home Insurance
An important point to note is I get 25% off Auto and 20% off Home due to a Union membership discount. Also.. this may change slightly as Cowan doesn’t have the Model 3 on their system yet… but was able to manually adjust the rate groups to match what Aviva and a few other companies are using. So the important thing is still to get a VIN. The other major problem is that my deductibles go from $500 and $300 to $1500! (No mater how much I begged they said there is no way to lower the deductible... ). Very interested to see what Johnson insurance comes in at.

Coseco (The Co-operators) - $1425/ year ----- + $59/ year (But with $1500 Deductibles) ---- Home Insurance $1020/ year + $144/ year (no flood coverage) = + $203/ year
- $1638/ year ----- + $273/ year ----- Without bundling Home Insurance
The problem I have with Coseco is that when I first got my quote, it was $1267/ year. I'm like.. great! Imma call these guys for sure! When I did though, the agent said that the insurance rates are going up in May to what I've posted above, just because. Then it's another 15% if I dont go with them for Home Insurance. Also, not comfortable with no option at all for Ground Water and Overland Water protection.



TL;DR - Price difference of -$205.40/ year (But with higher deductibles) to + $664/ year (With same coverage or worse)

 

[AFGTA]

I spoke with my broker yesterday, insurance company is Northbridge Insurance.

Currently we have:
2010 Mazda CX-7 - Wife's
2014 Mazda CX-9 - Mine

We're going to get rid of the CX-7. My Wife is going to take over the CX-9 and M3 will be insured under my name. I don't know the exact figures we're paying now, but both cars are in the $800-$900 per year range (each). Car insurance is bundled with home insurance and our cottage. With changes to the auto policy, yearly payment will increase by $53.

Woo Hoo!

 

[03DSG]

***UPDATE***

OK.. I have received a few quotes.

Firstly, the details for comparison;
Currently under Belair Direct
2012 Ford Fusion SEL

(No tickets/ accidents/ policy cancellations)

10km to work 1 way
15,000 annual km
$1,000,000 liability
$500 Deductible Collision
$300 Deductible Comp
Accident Forgiveness
$130,000 Optional Medical
Winter Tires
Auto Comfort Package
$400/ week income replacement coverage

Bundled with Home insurance

Currently;
$1366/ year (Auto)
$876/ year (Home)


Model 3 Quotes (Only addition from above coverage is the Waiver of Depreciation/ Guaranteed Replacement Coverage)


Belair Direct - $1841/ year ------ + $475/ year (Same home insurance of $876/ year)
Clearly shows they don’t want to insure this car…

Johnson Insurance - $1409/ year ------ + $43/ year (But with $500 Deductibles)----- Home Insurance $756/ year (with $1000-$2000 Deductibles) - $120/ year = -$77/ year
- $1547/ year ------ + $181/ year ------ Without bundling Home Insurance
An important point to note is I get 25% off Auto and 20% off Home due to a membership discount with Conestoga College and I also get $100 off per year because my wife has a vehicle insured through Johnson, so I get a multi vehicle discount (This also means that she will get a 20% discount on her vehicle insurance if I switch over). Also.. this may change slightly as Johnson doesn’t have the Model 3 on their system yet… but was able to manually adjust the rate groups (It’s almost the same rate groups as what Cowan Insurance is using.. but slightly different). So the important thing is still to get a VIN.

Two big benefits I see with this quote is; $500 Deductible vs $1500 Deductible through Cowan, and my wife saves an additional 20% on her Auto Insurance.

Aviva Insurance - $1491/ year ------ + $125/ year (But with $500 Deductibles)----- Home Insurance $1177/ year (with $0 Deductibles) + $301/ year = +$426/ year
- $1743/ year ------ + $377/ year ------ Without bundling Home Insurance
Tesla Has partnered with Aviva for the Insure My Tesla Program. Also, they have a very interesting "disappearing deductible" program. From my understanding its something like.. for every year you don't file a claim your deductible goes down. Pretty cool and so far no other insurance company i've spoken with does anything like this.

Statefarm- $1690/ year ------ + $324/ year (But with $1000 Deductibles)----- Home Insurance $1216/ year (with $1000 Deductibles) + $340/ year = +$664/ year
- $1771/ year ------ + $405/ year ------ Without bundling Home Insurance
The most expensive thus far.

Cowan Insurance- $1367/ year ------ + $1/ year (But with $1500 Deductibles)----- Home Insurance $669.60/ year (with $1000 Deductibles) - $206.40/ year = -$205.40/ year
- $1503.70/ year ------ + $137.70/ year ------ Without bundling Home Insurance
An important point to note is I get 25% off Auto and 20% off Home due to a Union membership discount. Also.. this may change slightly as Cowan doesn’t have the Model 3 on their system yet… but was able to manually adjust the rate groups to match what Aviva and a few other companies are using. So the important thing is still to get a VIN. The other major problem is that my deductibles go from $500 and $300 to $1500! (No mater how much I begged they said there is no way to lower the deductible... ). Very interested to see what Johnson insurance comes in at.

Coseco (The Co-operators) - $1425/ year ----- + $59/ year (But with $1500 Deductibles) ---- Home Insurance $1020/ year + $144/ year (no flood coverage) = + $203/ year
- $1638/ year ----- + $273/ year ----- Without bundling Home Insurance
The problem I have with Coseco is that when I first got my quote, it was $1267/ year. I'm like.. great! Imma call these guys for sure! When I did though, the agent said that the insurance rates are going up in May to what I've posted above, just because. Then it's another 15% if I dont go with them for Home Insurance. Also, not comfortable with no option at all for Ground Water and Overland Water protection.



TL;DR - Price difference of -$205.40/ year (But with higher deductibles) to + $664/ year (With same coverage or worse)

I’ve been with Aviva for years through the Air Canada group. It’s actually Aviva Traders on my policy. With the Tesla the quote covers 2 cars bundled with house. First year premium includes 5 year (cancel anytime) full replacement value in a total loss. This covers your out the door price tax in. I also have $500 disappearing deductible on our current car and my deductible is currently ZERO as no claims. This zero deductible will also carryover to the Tesla. Your deductible drops 20%/claim free year. I also have the optional medical/catastrophic/non catastrophic insurance for $130,000 and $1,000,000.
2,000,000 liability
$500 deductible all perils (now zero deductible as claim free)
Aall the other minor stuff
Retired, no commute, 20k/year and a bunch of discounts
NOT in the GTA
$843/year for the Model 3, within $20 or so of our current loaded ‘14 Escape Titanium

 

[Mobsidian]

I was quoted 2600 for my 3 with Allstate and Aviva. Though this is with one minor ticket so without it it's 2300. Also, I was quoted 1500 for a 2012 model S last month so not sure why they're quoting a lot higher for the 3. It's even higher than what I'm paying for my civic. Sigh

 

[5_+JqckQttqck]

Just off the phone with The Personals (Desjardins w/ OACETT group discount). I got quoted $4262 / year (bundled with my motorbike of $940; I get a discount here of $100 something off the bike's policy).

$130,000 and $1,000,000.
2,000,000 liability
$1000 deductible all perils
5 year new vehicle replacement (increases after 1st year)
Worry Free 1st accident
Aall the other minor stuff

Annual kms = ~25000km+
Scarborough, ON
Male, Single 35 yrs, parked in private garage/home.

He told me that one reason that it's so much higher is due to the fact I missed one payment when I was out of country in the summer of 2015 on my motorbike for $76 CAD. FML XD

So all together, I'm looking at 5k/year for insurance. Living in the GTA is the suck.

Any advice of insurer to go with is greatly appreciated

 

[cwave1]

Just off the phone with The Personals (Desjardins w/ OACETT group discount). I got quoted $4262 / year (bundled with my motorbike of $940; I get a discount here of $100 something off the bike's policy).

$130,000 and $1,000,000.
2,000,000 liability
$1000 deductible all perils
5 year new vehicle replacement (increases after 1st year)
Worry Free 1st accident
Aall the other minor stuff

Annual kms = ~25000km+
Scarborough, ON
Male, Single 35 yrs, parked in private garage/home.

He told me that one reason that it's so much higher is due to the fact I missed one payment when I was out of country in the summer of 2015 on my motorbike for $76 CAD. FML XD

So all together, I'm looking at 5k/year for insurance. Living in the GTA is the suck.

Any advice of insurer to go with is greatly appreciated

I use RBC (which is now Aviva) and pay $1100 / yr for my Model S in Mississauga. That said, I'm 52 and my driving record is clean.

 

[RedSafari]

I called Intact, my current insurer, yesterday and gave them my VIN. They could not get a rate for the VIN and instead could only provide a Model S rate for comparison.
Separately, the broker mentioned they could only do a $5000 deductible for Tesla since “it is a higher priced car”. I have a $1000 deductible on the Prius. Does this make sense to anyone? I’m not keen on being $5000 out of pocket for any claim.

 

[McFlurri]

I called Intact, my current insurer, yesterday and gave them my VIN. They could not get a rate for the VIN and instead could only provide a Model S rate for comparison.
Separately, the broker mentioned they could only do a $5000 deductible for Tesla since “it is a higher priced car”. I have a $1000 deductible on the Prius. Does this make sense to anyone? I’m not keen on being $5000 out of pocket for any claim.

Holy crap! I've never even heard of a $5000 deductible before... time to find another insurance company!

 

[Darthbenji]

Got a quote on intacts website for Ontario. Same as my commuter rio I’ve been killing waiting for the 3. $1363. Commercial ins. I did cause my broker hasn’t bothered to call me back.

 

[inottawa]

I use RBC (which is now Aviva) and pay $1100 / yr for my Model S in Mississauga. That said, I'm 52 and my driving record is clean.

I use Aviva as well, and my insurance for my MS is closer to $750 / yr. I'm guessing the variance is based on region. I know that rate groups are a combination of region, driving record, age, and car.

 

[ZooSean]

I use Costco Inova as broker, insurance company is Travellers . I have 2013 Lexus RX350 and a Nissan Leaf 2015. I told them that I need replace Leaf with Model 3, and they end up telling me the premiums are almost same. But they also said my insurance policy due end of July, what’s next year price is unknown at this time.

 

[inottawa]

I called Intact, my current insurer, yesterday and gave them my VIN. They could not get a rate for the VIN and instead could only provide a Model S rate for comparison.
Separately, the broker mentioned they could only do a $5000 deductible for Tesla since “it is a higher priced car”. I have a $1000 deductible on the Prius. Does this make sense to anyone? I’m not keen on being $5000 out of pocket for any claim.

That's a little ridiculous. I have a $0 deductible and one accident forgiveness on my policy for my rate. I would seriously suggest calling around to other insurance companies and compare rates.. It may be worth breaking your current insurance if your year term is not up. The only reason your broker taking a $5000 deductible is if you're 'facility' (high risk)?