Insurance rates on a P3D vs non P

[UltralightBeam]

Is 250/500 the new recommended for Tesla’s? And or ‘Vehicle coverage in this day and age?’

Also, thank you @trm2 your responses have been extremely helpful!

Currently, my current insurance company is quoting me approx $30 more per month than my previous vehicle which doesn’t seem too bad (6 month term). What have you guys been reporting as the base price for the model 3s? Base of the vehicle 35k, base of the physical config (AWD Base), base of performance (Even though it’s all software)?

My insurance company representative was suggesting base of the config with no options etc. So I was thinking initially of base AWD... Overall, the Model 3 is RWD, AWD and the rest is software tunes/aesthetics. (Up to P3+)

Either way, they’ll get all the details they need from the VIN when I get ahold of that this week.

 

[trm2]

Insurance is there to protect you from financial disaster. Only you can decide how much coverage you need, but think of it this way...

You cause an accident, taking out a 1997 Ford Taurus, no injuries, just the car. In that case, you need to have enough coverage to repair/replace the Taurus. Your state minimum limits (IL 25k/50k) will be plenty to take care of the other person and you don't have anything to worry about.

You cause another accident, but this time you demolish a 2018 Tesla Model S P100D. Again, no injuries. If you have the state minimum limits, your insurance company would pay out the max of $25k (the first number because it is for one person, if you take out two cars or more, the second number comes into play). The other Tesla owner will likely have Underinsured Motorist coverage and can file with his own insurance carrier to take care of his car, but, the other guy's insurance company will certainly come after you to recoup their money. You are actually liable for the difference.

This gets a whole lot messier with injuries.

How much protection do you need? If you rent, no one can come after your house. If you own a home, well, make sure you talk to your agent about an umbrella policy also.

*I randomly chose a '97 Taurus, no particular reason, I am not picking on the Taurus.

 

[Brfong]

For the comprehensive/collision coverage, my insurance company asked me for the replacement value for the P3D+. I thought about it for a moment, how much out of pocket is the car worth to me if it was totaled by the insurance company. I quoted the full price for the replacement value and the rate doubled (from about $50 to $110 per month). Kept the same liability limits.

If something happens to the car, I won’t have to worry about getting it replaced. In a couple of years, I will drop or lower the coverage as the car depreciates. But for now, it’s worth paying extra.