Insurance Rates in North East

[pufl]

Hi,

I am going to take delivery of my vehicle in a couple days and is shopping for insurance. I am taken aback by how high my insurance rates have come back as ~ 3400 / year.

I park in an indoor garage near Medford and have no past driving incidents in the past 6 years - clean. That said, I am getting auto insurance for the first time as this is my first car though my wife had it before. Both of us got our license when we were around 21. What do you guys have for insurance ? Any tips on getting a good price for good coverage would be really helpful. Please help.

 

[nicedrum]

I think a lot depends on your age, history (accident prone or not), location / zip code, and how old the car is. I recently received a couple quotes for 5-6 year old MS and 4 year old Chevy Bolt (I was trying to compare), and the MS would add around $1200/year to our insurance costs (currently around $1300 for 2 older cars), and the Bolt around $1000/year extra. But that's with maxing out the deductibles (or at least having them at $2000, which may or may not be the max). Also we're in our 40's and live in a pretty safe suburb of Boston.

Make sure you try at least 3 insurance companies, and if you're comfortable paying for part of the repairs out of pocket, max out your deductibles. In my mind, insurance is for catastrophic loss, and I'm fortunate that $2k is not terribly catastrophic. (It also only kicks in if someone else is at fault.. or a tree branch breaks your windshield, etc)

 

[robarino]

Geico has been the cheapest for me. Have you tried them?

 

[pufl]

I think a lot depends on your age, history (accident prone or not), location / zip code, and how old the car is. I recently received a couple quotes for 5-6 year old MS and 4 year old Chevy Bolt (I was trying to compare), and the MS would add around $1200/year to our insurance costs (currently around $1300 for 2 older cars), and the Bolt around $1000/year extra. But that's with maxing out the deductibles (or at least having them at $2000, which may or may not be the max). Also we're in our 40's and live in a pretty safe suburb of Boston.

Make sure you try at least 3 insurance companies, and if you're comfortable paying for part of the repairs out of pocket, max out your deductibles. In my mind, insurance is for catastrophic loss, and I'm fortunate that $2k is not terribly catastrophic. (It also only kicks in if someone else is at fault.. or a tree branch breaks your windshield, etc)

Yeah true. I have tried Progressive, Gieco and Liberty Mutual, Amica. All came out pretty high. Travellers was the only one that came at 2.4k per year which was the lowest of them all. I am planning to call Statefarm tomorrow and see what they quote. I was under the impression that insurance for such a safe rated care is going to be lower

Geico has been the cheapest for me. Have you tried them?

I did, it came back at $350 per month which is insanity. When I called them, they said Tesla's are expensive to repair. I dont have any incidents on my driving report as far as I can remember, but I am anyway requesting a driving record from the state - hoping it'd arrive soon enough.

 

[HankLloydRight]

Also, try Chubb and Hanover. I've had good policies with both. Pay about $1200/yr for my 2014 P85D, but I'm also in my 50's, married, with no accidents or claims and no tickets in the last 10 years. Although my windshield is cracked, so that's about to change.

If you're under 25, you'll just have to suck it up and pay the high premiums until you turn 25. That was the best birthday present that year.

 

[Jabnlab]

I'm paying $52 a month through progressive on my model Y. I'm 34, live in New Hampshire with no tickets or accidents.

 

[tga]

When I lived in MA, I had Commerce (now Mapfre), who used to give a discount to AAA members. Also, high deductible saves a lot, but on comprehensive and collision only. Adding the optional waiver of deductible coverage helps mitigate some high-deductible risk; you're basically betting you won't get in an at-fault accident. Waiver of deductible means you don't pay your deductible out of pocket, if there is another driver at fault from whom your insurance can collect. For a one-car accident, or one where you are at fault, you still pay your deductible out of pocket.

Beyond that, it's hard to get much of a deal in MA, land of government-set car insurance rates with token "competition."

I found it was better to go through an independent agent who would shop different companies, vs trying to shop them myself. They're good at finding bundle deals, etc.

Honestly, the best advice to lower your car insurance - move out of MA. I kept the same agent when I moved from MA to NH, and she was shocked at how low my quote was. So much so, she re-ran it to make sure it wasn't a mistake. Part of that is that I have more cars in the house than drivers, and NH recognizes that adding cars without adding drivers doesn't increase liability costs, since I can't drive 3 cars at once. You can also cancel liability and collision on "summer toys" during the winter months, but leave comprehensive active, in case your garage burns down. MA won't let you have comprehensive-only; you must carry the 4 required parts, even if the car/motorcycle is parked for the winter.

 

[Tdreamer]

I'm currently paying about $180/month with MAPFRE in Mass. Two adult 50 something adults with one at-fault minor accident attributed to my better half a couple of years ago, and a recent $$$ mirror replacement (both not with the Tesla thank goodness) attributable to our brand new 18 y/o driver ;(. Low risk suburb.

In 2017 & 2018 I was paying $86/month for the same coverage. 2017 Model X...

 

[jithesh]

For my 2018 Model 3 I was paying 157 per month in 2018 with Vermont Mutual, I live in Malden. Now its increased to 179 per month. I tried to switch to Geico but they couldnt provide the same coverage for this price so I am still with Vermont Mutual. Attached is my coverage screenshot if that helps.

But everyones situation is different so best thing is to shop around and pick the best that works for you.

 

[pufl]

For my 2018 Model 3 I was paying 157 per month in 2018 with Vermont Mutual, I live in Malden. Now its increased to 179 per month. I tried to switch to Geico but they couldnt provide the same coverage for this price so I am still with Vermont Mutual. Attached is my coverage screenshot if that helps.

But everyones situation is different so best thing is to shop around and pick the best that works for you.

Ah! I havent checked them yet, I will. $157 sounds managable when compared to the rates I am being quoted. Have you had to file any claims ? If so what has the customer experience been like ?

 

[jithesh]

Ah! I havent checked them yet, I will. $157 sounds managable when compared to the rates I am being quoted. Have you had to file any claims ? If so what has the customer experience been like ?

Fortunately I have never filed claims. I have negative reviews for almost all the insurance companies including VM, so not sure if its an industry wide issue. Also I actually went via Paul Murphy Insurance agency in Malden who told me VM had the latest quote. You can try insurance agents and self shopping as well, I was just too lazy to shop too much

 

[mikeonh]

I'm in NH. Quote is from Safeco. 67 yo male

DISCOUNTS & SAFECO SAFETY REWARDS: Claims-Free, anti-theft, accident free, violation free
Also have homeowners policy with them - some sort of discount for that

sorry about the formatting.....

VEHICLE COVERAGES Limits / Deductibles 2021 Tesla Model Y
Bodily Injury Liability $100,000/$300,000 $136.30
Property Damage Liability $100,000 $104.00
Medical Payments $5,000 $16.70
Uninsured Motorist $100,000/$300,000 $14.10
Uninsured Motorist Property Damage $25,000 Included
Comprehensive $250 w/Full Glass $252.10
Collision $500 $454.60
Roadside Assistance Emergency Assistance $10.00
Loss of Use $35 per day $8.50
Superior Level Protection Increased Limits and Coverage $79.10
Total Vehicle Premium $1,075.40 / year

 

[bjrosen]

I have Allstate, not sure what my rate is but it's pretty low. Give them a try.

 

[play150]

Just checked Geico, Progressive, Allstate, Liberty Mutual and Travelers for a 2021 M3P in Massachusetts.

For the same coverage (or almost the same):
Progressive, Allstate and Liberty Mutual were all 200-300 USD/month for me.
Geico (my current provider) was 150-200 USD/month.
Travelers was 100-150 USD/month, so I'm going with them! (I changed my start date from 6/26 to 6/25 because I input the wrong date but the quote changed to 150-200 USD/month... so I'm probably just sticking with Geico for convenience)

I wonder how to deal with insurance handled if I reject delivery lol...

 

[cfbackrow]

I was shocked when i reached out to Mapfire... for a 2021 Model 3 SR + it will be $13 a year Cheaper than my 5 yr old sonata hybrid , same coverage

 

[play150]

Just checked Geico, Progressive, Allstate, Liberty Mutual and Travelers for a 2021 M3P in Massachusetts.

For the same coverage (or almost the same):
Progressive, Allstate and Liberty Mutual were all 200-300 USD/month for me.
Geico (my current provider) was 150-200 USD/month.
Travelers was 100-150 USD/month, so I'm going with them! (I changed my start date from 6/26 to 6/25 because I input the wrong date but the quote changed to 150-200 USD/month... so I'm probably just sticking with Geico for convenience)

I wonder how to deal with insurance handled if I reject delivery lol...

I ended up going with Progressive which for some reason ended up being a bit cheaper than Geico after more discounts were applied (still 150-200 USD/month). Geico kept gradually raising my rates too, which I found aggravating (they ultimately raised to around 200 USD/month)

 

[Warbird]

Try Commerce (now Mapfre). They were half my old Safety rate.

 

[Tdreamer]

We have used MAPFRE (Commerce) for years. A new Model S Plaid is running us $188/month. I don't think they realize what they're insuring. Shhhhhh....

 

[jlv1]

We've also used MAPFRE for years. We're paying under $140/mo for both our S and X.