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Insurance rates on a P3D vs non P
- Thread starter Keith909man
- Start date
ℬête Noire
Active Member
Usually insurance rates are based off the VIN, and I'm not sure you can tell the difference between a D and P by the VIN?
The magic number is usually the $50K price, past which for "full" coverage you need to step to 100K price. The D is closer to that line but you have to risk a little to stay with $50K coverage.
When quoting coverage for my car, GEICO had one option - Model 3. It didn't recognize my newly assigned VIN, and the cost is actually a little cheaper than on my 8 year old Infiniti. This may or may not change as the 3 matures, but I'll take it as long as it lasts.
Eh - you should have at least the 100K property coverage anyways (and much higher bodily injury, obviously). The service center may give you an S or an X as a loaner and if you wreck one, it will be covered under your own insurance.
I personally have the max my insurance sells (plus an umbrella policy, which is stupidly cheap for what you get) - it isn't that much more $$ and I have seen a coworker go through a nightmare after being hit by a drunk driver where neither him nor the drunk driver had enough insurance to cover all his costs from him being put back together in the hospital. He is now trying to sue the other guy, but the sort of person who drives around drunk with the state minimum insurance isn't the sort with many assets to take.
ℬête Noire
Active Member
Don't disagree, just if you are trying to shave pennies you could get away with $50K/$100K on the RWD. You really hang yourself out there with the D & P if you don't go with $100K/$200K.
NathanielHrnblwr
Member
I learned from my posts earlier in the week the VIN for AWD and PAWD is the same as far as motor is concerned. There seems to be no way to distinguish the difference.
SageBrush
REJECT Fascism
I sure hope the insurance companies learn to identify 'P' cars. I don't want my rates affected by them.
I have a P3D and the rate I got with Geico is about the same as I was getting on my i3 previously. Seemed too good to be true. They based the quote on my VIN and I told them repeatedly on the phone that it's the performance model. I didn't realize they can't distinguish between the AWD and PAWD based on the VIN but it makes more sense now. Hopefully I'm not in for a nasty surprise in 6 months when the renewal arrives!
insaneoctane
Well-Known Member
The data will eventually drive the costs. Right now the insurance companies are making assumptions. I sure hope my fellow RWD owners prove to be low risk when the data finally lands. I suspect that the P3s do not have as good of odds of that... Particularly if track mode is overly lenient. With a limited % of M3's being performance it only takes a few idiots...
theslimshadyist
Active Member
FWIW and I was shocked when I called my State Farm agent but get this..... The quote I obtained for my upcoming P3D is $50 HIGHER than my Model S P100D! 
dek526
Member
i would’ve kept quiet ... why would you insist that the rate should be higher?
Really??... well, that just makes perfect senseFWIW and I was shocked when I called my State Farm agent but get this..... The quote I obtained for my upcoming P3D is $50 HIGHER than my Model S P100D!
From some hard earned experience I'm pretty careful dealing with insurance companies. I wanted to minimize the possibility of any disagreement later in the unlikely event of a claim. If they'd made a mistake about what they were insuring (which doesn't seem to be the case) I'd rather know about it now rather than have deal with a dispute later, even if I have to pay more.
dek526
Member
true but all details should be clear enough via the vin. now if they screw up the quote now they do have the right to increase it after 6 months as geico only allows you to purchase 6 months at a time which was odd to me
UltralightBeam
Member
When you say $50K/$100K are you talking about Liability with 50K property/100K bodily?
My insurance (under liability - bodily injury/property damage) reads as 50K each person / 100K each accident but beneath that says 25K each accident too... IDK.
Uninsured Motor vehicle - bodily Injury set at 50K each person / 100K each accident
And I have the same as that for uninsured motor vehicle.
What part of that for my last car would I want to update for my upcoming Model 3 based on some of the recommendations here?
FWIW and I was shocked when I called my State Farm agent but get this..... The quote I obtained for my upcoming P3D is $50 HIGHER than my Model S P100D!
What?! Did you ask for an explanation? Or did you wind up looking elsewhere then?
insaneoctane
Well-Known Member
I agree with @Az_Rael , you never want to find you need more coverage than you have. I think I've got 100K/300K and an umbrella too. I pay more than I want for insurance for sure, but I don't think I'll lose my house if the wrong $h!t hit the wrong fan....
UltralightBeam
Member
When you guys were shopping for different rates, did you call each of your 'local agents' or did you simply do the quote online? Any specific info you needed like VIN? (Which I wouldn't get until delivery anyway I guess)
You can get quotes online if you would like. If you want to go to an agency instead of dealing with a business directly, there are captive agents (like State Farm that only sell State Farm) and there are Independent Agents that work with multiple carriers (but not with those that use Captive Agents like State Farm). A captive agent will only be able to give you a quote for that company while any good Independent Agent will be able to quote a wide range of carriers for you.
There are advantages and disadvantages to both using an agent and going direct, so that is a personal decision. You can get a quote with just knowing the make and model, you will only need a VIN to purchase a policy. I work for one of the large insurance companies and can tell you it is best if you shop around. Every insurance policy is different and every company has their own risk profile. I expect the pricing on a Model 3 policy to be a bit volatile for a while. We (insurance companies in general) don't have enough data on the Model 3 yet and we love our data. Heck, we don't have a whole lot of data on Teslas at all compared to GM, Ford, FCA, etc.
Good luck with your shopping and if you have questions please ask the agent or read the online help. If you really want to go down the rabbit hole, all rates are filed with the state department of insurance (Illinois here) and you can read up on everything.
You should shop around... I use an independent agency which can always find me a policy much cheaper than the big insurers.FWIW and I was shocked when I called my State Farm agent but get this..... The quote I obtained for my upcoming P3D is $50 HIGHER than my Model S P100D!
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