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Insurance Tripled after adding Tesla

Discussion in 'Model 3' started by Mrbattery123, Oct 10, 2020.

  1. Mrbattery123

    Mrbattery123 Member

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    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.
     
  2. hlin07

    hlin07 Member

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    Time to shop around. The difference can be in thousands. Try insurance brokers as well.
     
    • Like x 2
  3. jmaddr

    jmaddr Member

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    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).
     
  4. luke68bird

    luke68bird Member

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    Try progressive, mine dropped when adding a Tesla
     
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  5. MichaelP90DL

    MichaelP90DL Active Member

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    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.
     
    • Like x 1
  6. jjrandorin

    jjrandorin Another BMW convert

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    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.
     
  7. Mrbattery123

    Mrbattery123 Member

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    Yea AAA wanted $500+, my AMG which cost way more was $220...
     
  8. Mrbattery123

    Mrbattery123 Member

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    Yup, long time customer of AAA, guess I won't be anymore!
     
    • Like x 1
  9. jjrandorin

    jjrandorin Another BMW convert

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    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.
     
  10. MichaelP90DL

    MichaelP90DL Active Member

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    Isn't that insane? And that's exactly why Tesla started selling insurance. The rates elsewhere do not reflect accident stats.
     
  11. JD M3

    JD M3 Member

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    Time to look for new insurance! Progressive is very tesla friendly. There may be some others as well.
     
    • Like x 2
    • Informative x 1
  12. HaroldC

    HaroldC Member

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    Westchester, NY
    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.
     
    • Like x 1
  13. sightman

    sightman Member

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

    buttnutt Member

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    Progressive was the best for me. 490$ for 6 months.
     
    • Like x 1
  15. hungryjonjon

    hungryjonjon Member

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    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.
     
  16. Mrbattery123

    Mrbattery123 Member

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    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.
     
    • Like x 1
  17. adrianp89

    adrianp89 Member

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

    ItsNotAboutTheMoney Well-Known Member

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    Maybe you need to ask your mother about her driving record.
     
    • Funny x 6
  19. boiler81

    boiler81 Member

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    Manson, WA
    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.
     
  20. Kat Jacks

    Kat Jacks Supporting Member

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    Location:
    Maine
    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..... :)
     

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