Insurance Tripled after adding Tesla

[Mrbattery123]

Hello! proud owner of a used (new to me) model 3 LR. Just got back from going to the insurance office. My insurance tripled in price! I had a AMG before so I figured it would've been roughly the same. Should I shop around or should I go with Tesla insurance? anyone recommend Tesla insurance? and how much do you pay? thank you.

 

[hlin07]

Time to shop around. The difference can be in thousands. Try insurance brokers as well.

 

[jmaddr]

Holy cow. I went from a 13 Audi S5 to the 3P and it went up 30 bucks every 6 months. USAA. You don’t have to go Tesla, but get three quotes with Tesla being one of them (if you live in a state that allows Tesla Ins).

 

[luke68bird]

Try progressive, mine dropped when adding a Tesla

 

[MichaelP90DL]

My 2020 MSP is $150-something monthly via Tesla Insurance, standard coverage. In my experience, Geico is initially competitive but expect a rate raise after a while. Everyone else is ridiculously expensive. I keep getting promo mailers from AAA about how they can save me big bux. Yeah, and they're like $500 a month.

 

[jjrandorin]

OP who did you have? I had AAA and they are SUPER expensive with tesla's. I put up with it for a while, because my home is (was) also insured with them but finally switched this year.

Time to shop around, like you said.

 

[Mrbattery123]

My 2020 MSP is $150-something monthly via Tesla Insurance, standard coverage. In my experience, Geico is initially competitive but expect a rate raise after a while. Everyone else is ridiculously expensive. I keep getting promo mailers from AAA about how they can save me big bux. Yeah, and they're like $500 a month.

Yea AAA wanted $500+, my AMG which cost way more was $220...

 

[Mrbattery123]

OP who did you have? I had AAA and they are SUPER expensive with tesla's. I put up with it for a while, because my home is (was) also insured with them but finally switched this year.

Time to shop around, like you said.

Yup, long time customer of AAA, guess I won't be anymore!

 

[jjrandorin]

Yup, long time customer of AAA, guess I won't be anymore!

So was I... like 10 years. I still have their card, but swapped all my insurance finally this year after 2 years of paying their super high rates for my model 3 (which was more expensive than my fully loaded BMW 435, or my wifes fully loaded X3 M40, both around the same MSRP.

 

[MichaelP90DL]

Yea AAA wanted $500+, my AMG which cost way more was $220...

Isn't that insane? And that's exactly why Tesla started selling insurance. The rates elsewhere do not reflect accident stats.

 

[JD M3]

Time to look for new insurance! Progressive is very tesla friendly. There may be some others as well.

 

[HaroldC]

Similar experience with Geico here. They wanted to triple my monthly. Shopped around and I got great quotes from Progressive and State Farm. Went with State Farm on the recommendation of my preferred body shop.

 

[sightman]

Time to look for new insurance! Progressive is very tesla friendly. There may be some others as well.

Progressive was good to me. Then renewed me at a 45% premium hike. No accidents, so I switched.

 

[buttnutt]

Progressive was the best for me. 490$ for 6 months.

 

[hungryjonjon]

Mine doubled with Geico. Went to AAA for one year and now to Travelers. both offer new car replacement and both were cheaper than Geico when I had my Ford Fusion. I think the main lesson is always price check when it’s renewal time.

 

[Mrbattery123]

Not sure how you guys are getting all these low quotes, I've been averaging $350-450/mo. I am in my mid 20's, but sheesh that insurance is too high. I've also put my mother the primary driver of the Tesla. Cheapest I got was $1728/6mo with progressive... im really hoping Tesla Insurance is much cheaper.

 

[adrianp89]

Ours went down $150-$200 for 6 months, came from a 2016 Dodge Charger Hemi. Progressive, I pay about $500 for 6 months.

 

[ItsNotAboutTheMoney]

Not sure how you guys are getting all these low quotes, I've been averaging $350-450/mo. I am in my mid 20's, but sheesh that insurance is too high. I've also put my mother the primary driver of the Tesla. Cheapest I got was $1728/6mo with progressive... im really hoping Tesla Insurance is much cheaper.

Maybe you need to ask your mother about her driving record.

 

[boiler81]

Mine doubled with Geico. Went to AAA for one year and now to Travelers. both offer new car replacement

Is new car replacement a good idea for Tesla's?

The impression I get is that Tesla's are more expensive to repair and therefore are "totaled" more than comparable cars.

I suspect this situation of Tesla's getting "totaled" will get worse, as Tesla moves to single front and rear castings, with structural pack.

 

[Kat Jacks]

I have AAA insurance. My 2011 Chrysler 200 was $390 for 6 mo; now my Tesla M3 is $550 for 6 mo. About 40% increase, but I have excellent level coverage, and the value of the car is so much greater than the old one. Cost may also depend on driver's age, record, etc, and the state/location in which one lives. I knew it would be more expensive, so I'm ok with that. Part of living the dream.....