INSURANCE - the Gecko was right

[cookpwr]

After 25 yrs of being with Allstate, I cancelled them today after first being quoted 1400 for 6 months then being literally told a few hours later the addition of the Tesla caused all 3 of my other vehicles to increase their premiums.


Allstate final quote was 2200 per 6 months to add my Model S 100D. Yes, I've never had an accident, nor my wife, we have all the discounts from Allstate (Distinguished Driver, etc) and I have multiple policies with Allstate. The agent literally told me "Allstate is expensive for Tesla's" and a lot of our clients shop elsewhere. Clearly they don't want to write coverage on Tesla's.


I literally went online and tried both GEICO and Progressive for the very first time. I literally took out my AllState Policy and replicated it online car by car, coverage by coverage to ensure apples-apples comparison. I was shocked at what came back. I then talked to a human at both companies to confirm the detailed quotes.


The RESULT: Progressive's quote was 900 (every 6 months) Geico = 750 every 6 months Allstate is still 2200 for the same 6 months.


Goodbye Allstate. I'm in Better Hands now with 65% savings and $1500 savings every 6 months.

 

[Patrick W]

You are not alone. I've also been with Allstate for years. The local agent is a friend but when he gave me the quote for my S I thanked him and went with Progressive. Same coverage. Much cheaper. (I did keep my old truck and motorcycle with Allstate).

Someone posted on these forums once that he heard from his Allstate agent that Allstate does not want to insure Teslas.

 

[Tanquen]

Yeah they are definitely full on with the Tesla tax. Also had like twenty years with them and I have super low mileage and perfect record and they wanted two Grand a year or whatever. My Geico is around 80 bucks a month.

When I sold one of my cars they also increased my rate to basically cover the car that I took off the policy, like 10 times the savings I was supposedly getting for having multiple cars. Must be nice.

I now I have no cars with them and will move my homeowners soon.

I can't wait for a Tesla insurance.

 

[CHG-ON]

I kicked Allstate to the curb years ago as they were ridiculously expensive.

 

[Tanquen]

Oh yeah, the illegally adjusting my mileage bullshit to increase my rates over the years was pretty cool too. Actually got a class action lawsuit thing in the mail at one point I don't think anything ever came of it.

 

[fallen888]

 

[doubleohwhat]

I'm confused. Do you have something against the word? It sounds like they were shocked that the company they had been with for over two decades was quoting them such ridiculous numbers. I was shocked when I was first getting tesla insurance quotes as well. I was shocked by how much my Travelers wanted for my Tesla compared to my BMW 550i I had at the time. I was also shocked how much I saved by switching to USAA.

Edit: Saved you some trouble:

 

[Tanquen]

I'm confused. Do you have something against the word?

It's like, the adult like version, of like saying like, like all the time. With just a pinch of recent misappropriation.

 

[SFOTurtle]

I'm confused. Do you have something against the word? It sounds like they were shocked that the company they had been with for over two decades was quoting them such ridiculous numbers. I was shocked when I was first getting tesla insurance quotes as well. I was shocked by how much my Travelers wanted for my Tesla compared to my BMW 550i I had at the time. I was also shocked how much I saved by switching to USAA.

Edit: Saved you some trouble:
View attachment 222200

Wow, I'm literally in shock.

 

[doubleohwhat]

Ah. These days I'm freaking thrilled when people use full words and a low emoji to actual word ratio.

 

[Mattzilla]

Progressive is the cheapest I've found. About $480 per 6 months is enough coverage for my employer to reimburse me when I use my car for business (which more than pays for both my car insurance and utility bill). 32 years old, veteran discount, master's degree discount, perfect driving record discount, and loyalty discount. Discount.

Discount.

 

[cookpwr]

Literally, thanks for the support Matt and Double. I literally didn't realize I use literally so much! Literally glad Fallen pointed it out. There I've used it 8 or was it 8, yes it was 8 times Fallen!

 

[sakimano]

Aren't we comparing discount insurance companies (geico/progressive) with a full service agent driven company like all state? The agent needs to get paid too in the Allstate model while the computers or call centre employees are much cheaper at the discount providers.
Could have a lot to do with the difference (as well as all state being expensive as it pertains to the model S). Of course you get modest service and support levels with discount providers too. Cheap insurance isn't so cheap if your coverage and service levels suffer when you need them.

You can trade stocks for $6 online or pay 1%/year for discretionary portfolio and wealth management. Both options do well because some people are happy to pay for the service and advice while others just want the cheapest option possible.

 

[Reciprocity]

I added my Model X to my Allstate plan for $90 a month. We have 3 cars on the plan total. I thought Allstate was expensive, but it was cheaper then AAA.

 

[patrick40363]

After 25 yrs of being with Allstate, I cancelled them today after first being quoted 1400 for 6 months then being literally told a few hours later the addition of the Tesla caused all 3 of my other vehicles to increase their premiums.


Allstate final quote was 2200 per 6 months to add my Model S 100D. Yes, I've never had an accident, nor my wife, we have all the discounts from Allstate (Distinguished Driver, etc) and I have multiple policies with Allstate. The agent literally told me "Allstate is expensive for Tesla's" and a lot of our clients shop elsewhere. Clearly they don't want to write coverage on Tesla's.


I literally went online and tried both GEICO and Progressive for the very first time. I literally took out my AllState Policy and replicated it online car by car, coverage by coverage to ensure apples-apples comparison. I was shocked at what came back. I then talked to a human at both companies to confirm the detailed quotes.


The RESULT: Progressive's quote was 900 (every 6 months) Geico = 750 every 6 months Allstate is still 2200 for the same 6 months.


Goodbye Allstate. I'm in Better Hands now with 65% savings and $1500 savings every 6 months.

Did you try State Farm?

 

[RogerHScott]

Did you try State Farm?

Yeah, I have State Farm and I was pleasantly surprised that the Tesla Tax wasn't bad at all. I actually wondered if they hadn't quite
figured out what a Tesla was yet...

 

[dcclappers]

Farmers was worse. Wanted 4000 per six months for replacing a Lexus ES350 with a 2017 Tesla 60!!! USAA was the winner in my replacement process.

 

[Blue Dragon]

I was very pleasantly surprised that my coverage from State Farm only increased $270 for the YEAR from what I was paying for my 2015 Honda Civic. I "only" have a 60D, but that's a lot more car than my Civic was. So I'm paying $660 every 6 months, and we already have the liability jacked way up to meet with our umbrella policy.
Perfect driving record, multiple policies with State Farm, etc.
Now all other Tesla-related costs (wrapping, upgrading electrical panel, tinting) are a different story...

 

[zer0cool]

Generally it's not a good idea to stick with the same insurance company for too many years. I had Geico for about four years for both cars and my house, but my premiums keep going up every year. I called progressive earlier this year and total premiums went down by about 500 bucks/yr.

 

[RogerHScott]

Now all other Tesla-related costs (... upgrading electrical panel...) are a different story...

Hopefully you're not upgrading your electrical panel on a recurring basis, as with insurance.