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Insurance rates on the raise

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Same here... I was with Mercury for 15+ years. When I received the Quote for my new S in March it was soo high I had no choice to shop around. Ended up moving all my 3 cars to Geico. While at it moved 4 cars from other family members over as well ... Not sure I trust the AAA findings... Perhaps naive but I have the perception that my S is a safer car. I would like to see some real statistics on accident rate for S/X versus industry.

I'm surprised. I have Mercury and its the lowest quote I have received.
 
They help me with anything I need.

I have home, auto, life, umbrella and some special property coverage (jewelry) with them. Anything I need, I just email them and they make sure it gets taken care of.

If I buy a new car, I just email them and they take care of adding it to my policy. If I get into an accident, there isn't any sitting on hold or anything like that, I just email them and the adjuster calls me and lets me know what I need to do. The last accident I had (someone rear-ended me) all I had to do was send them an email, the adjuster called me and got the details and then I took my car to the body shop and picked it up when it was ready.

If I need to change something on one of my other policies (like a beneficiary or something), I just email them and they send me the exact forms I need and even fill out whatever they can for me.

My wife accidentally flushed her engagement ring down the toilet in a hotel once. I emailed my agent, she had an adjuster call me and all we had to do was pick out the replacement stone and setting and they took care of the rest. Super easy.

I might find service like that with another insurance company, but I would have to start the relationship from scratch. I've been with my current agent for over a decade.

Thanks for the response!
 
Looks like the premium rates increase is true. I use to pay $800 for 6 months for 2 cars on the policy with max coverage with Geico. Now they are increasing it to $1000 for 2 cars. I think the $200 increase is from the Tesla only because the other car actually decrease a bit.

Damn I was bragging to other about how Teslas are inexpensive to insure, now I am eating my own words. I got quotes from 3 other places, and e-surance is the highest wanting $1800 every 6 months, Progressive wanting $1100 every 6 months, Wawanesea wanting $900 every 6 months, and Geico wanting $800 every 6 months just for the Tesla alone.

I guess I just have to put up with the high insurance cost for now. Hopefully it will fall once tesla's repairs are more realistic in price.
 
Here is another DP specific to the MS:

IIHS: Tesla Model S Has More Insurance Claims, More Costly To Fix Than Other Large Luxury Cars

“When it comes to insurance losses, the Tesla Model S is an outlier. The luxury sedan has higher claim frequencies and is costlier to fix than gasoline-powered large luxury cars, and it accumulates more miles on average per day than other battery-powered vehicles, a new HLDI report shows.”

“The Model S is among the nine vehicles HLDI studied in its latest analysis of insurance losses for all-electric models. Analysts compared the loss experience of the Model S, the Nissan Leaf and seven other electric vehicles with losses for similar conventional vehicles under collision and property damage liability coverages and adjusted claim frequencies for mileage, based on data provided by CARFAX.”

 
Higher then normal claims on the Model S/X
And repair cost has insurance companies re thinking

US insurer hikes Tesla premiums due to 'higher-than-average' claim rates

I believe it. I've had the S 1 year and a couple days and the body shop has had it more than me. 3 accidents in 1 year none caused by me. A deer, a person who ran a stop sign, and a person that rear ended me a couple days ago. Each time it's a 3 month ordeal to get the car fixed. Let's see what happens with the latest. I think it's the silent nature of the vehicle, and drivers who are innatentive listen to engines and such. Same can be said for animals, a loud noise might make them run away. It's a very strong and safe car for the passengers, but it would be safer if other vehicles stopped hitting it.
 
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Tesla certainly is the most unique and technologically advanced vehicle in production and I think that it is quite a challenge for insurance companies to underwrite as premiums are all over the place even among the large national companies. This is something that can really cause Tesla some problems and I wonder if they are in a way contributing to the problem with such a large amount of the car being "software" related. Normally, losses are based on physical damage and personal injury. But now, if someone has a total loss and their total purchase price included almost $10,000 of software and licenses, is that a cost that insurance companies would really be expected to cover? Where is the actual loss? The same could be said about the batteries that are software upgradeable. The physical cost of the car is the same wether you have all the AP and FSD software enabled. Make sense?

This really is going to be a paradigm shift in the whole industry as you have cars that are being loaded with more and more advanced software. If you had a laptop stolen out of your car and you filed a claim, would they pay you more based on the value of the software installed? Chances are you would be able to transfer that license to another computer and be only out the cost of the hardware. Does it make sense to treat Tesla's the same in they eyes of insurance companies?
 
I hope Telsa still pursues being a provider of auto insurance for their products. So far, I have not experienced a change when I renewed my auto ins for the year. Make sure you set your deductible as high as you can afford, pay 1 year in advance and keep a great credit score to obtain your best quote.
 
Comparisons of insurance rates among us are not advisable. Each region with a given state has different rates. Each state has different rates. Miami-Dade for example has a rate 3x greater than northern VA for min coverage (comp & collision) mainly because, according to USAA and GEICO, 75 percent of Miami-Dade drivers have no insurance.

Hoping Tesla creates its own insurance company before this situation gets out of hand.
 
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Comparisons of insurance rates among us are not advisable. Each region with a given state has different rates. Each state has different rates. Miami-Dade for example has a rate 3x greater than northern VA for min coverage (comp & collision) mainly because, according to USAA and GEICO, 75 percent of Miami-Dade drivers have no insurance.

Hoping Tesla creates its own insurance company before this situation gets out of hand.
Insurance rates vary a lot based on location, insurance company, your history and drivers.
It always pays to shop around. Most of the time you can find a better rate.
I had Ca AAA insurance at a high rate and they were threatening to raise it more. I shopped around and found a much lower rate and changed my cars over.
 
Make sure you set your deductible as high as you can afford, pay 1 year in advance and keep a great credit score to obtain your best quote.

This has been my experience as well, and with the added advice of shopping competitive rates every 2 to 3 years. Most insurance companies seem to increase rates slowly over time regardless of ICE, electric, model, cheap, expensive, etc. hoping that the consumer does not notice and just keeps paying.
 
Insurance rates vary a lot based on location, insurance company, your history and drivers.
It always pays to shop around. Most of the time you can find a better rate.
I had Ca AAA insurance at a high rate and they were threatening to raise it more. I shopped around and found a much lower rate and changed my cars over.
I have even had vastly different quotes from the same brand of insurance just from different agents.
 
This has been my experience as well, and with the added advice of shopping competitive rates every 2 to 3 years. Most insurance companies seem to increase rates slowly over time regardless of ICE, electric, model, cheap, expensive, etc. hoping that the consumer does not notice and just keeps paying.

Yes, I forgot about that. Shopping other insurance companies every 2-3 years is great advice.
 
I'm planning to partly self-insure my Model 3 with a $5,000 deductible. Since the tax credits cover a good chunk of the car I'm not worried about a total loss. Using Amica in Colorado, I expect an annual premium of about $300 a year that covers 1M/300k liability, UI, and Comprehensive with a $5,000 deductible.
 
Just asked my current provider (NC Farm Bureau) for a quote on my 2015 S85D, which I hope will be delivered to me in the next month. They estimate an increase in my annual payment by $1,100 :eek:. I’ve been with them for 10 years without any signficant increases, but guess it is time to shop around.