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Insuring a new Tesla $$$

Discussion in 'Model S' started by sharrisbhs, Jul 3, 2017.

  1. sharrisbhs

    sharrisbhs Member

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    Jun 30, 2017
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    Location:
    San Francisco
    I just picked up my new 2017 model S. Traded in a 2016 Porsche Cayenne. Called my insurance company and got an outrageous quote for coverage. 50% more than the Porsche Cayenne (which was more expensive!). No accidents or tickets in more than 20 years! Just wondering if anyone has had better luck?
     
  2. Kross

    Kross Member

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    Go online; try Progressive. If you have a second car, get a quote from them for BOTH at once. It was by far the most inexpensive option for me; under $1000 (for 6 months) for comprehensive coverage for 2016 Model S 75 + 2015 Nissan Rogue.
     
    • Like x 1
  3. iffatall

    iffatall Member

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    I'm in California, and found Geico to be the cheapest. This was my first car, and my license was less than ten years old. Paying almost $1000 per six months.
     
  4. BrettS

    BrettS Member

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    Definitely shop around. It has been reported here recently that a few insurance companies (state farm and AAA, as I recall) have significantly increased their premiums for tesla’s.
     
  5. No2DinosaurFuel

    No2DinosaurFuel Active Member

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    Yeah Tesla use to be cheap to insure, now it's not. Mine is SoCal is around $800 for 6 months just for the tesla alone. It use to be around $500 every 6 months. And my car is older now.
     
  6. DBorgo

    DBorgo Member

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    I'm with USAA, four cars on the policy so some discounts for that, living in fairly rural part of Colorado, and pay just over $600 every 6 months on a late 2016 MS. That's only $200 more than I pay on a 2016 Subaru Impreza that only cost me $17K to buy used. Perfect driving record for the past 20 years. So there are some reasonable rates out there, but there are a bunch of factors that go into that rate, most notably where you live.
     
  7. renshcp

    renshcp Member

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    Washington, IL
    Progressive for my 70D is $350 per 6 months. My first quote was $1250 for 6 months from All State...
     
  8. MonkEBunE

    MonkEBunE New Member

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    Philadelphia, PA
    Awaiting delivery for inventory car I purchased several days ago and just asked for some quotes. I already have insurance through Geico for two other cars and came to $480/6 months. Obviously rate will depend on type of coverage and deductible. For reference, it costs the same as my Audi Q5 and 06 Corolla combined.

    I got a quote of $510 from progressive- but this is only for sole coverage of tesla and not my other cars.
     
  9. Jashev

    Jashev Supporting Member

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    Wrightsville, PA
    Here in PA, Liberty Mutual charges me $1100 year for the MS.
     
  10. Patrick W

    Patrick W Active Member

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    I'd been with Allstate for decades. Still am for some things but they wanted way too much for my S so I switched that to Progressive.
     
  11. PA70D

    PA70D Member

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    When I bought my Tesla Allstate quoted me almost three times what I was paying to insure a Cadillac CTS. Shopped around found a range of quotes ended up with State Farm. Final price was $35 a year less than I paid for the Cadillac.

    Shop around you should be able to find reasonable insurance.
     
  12. sharrisbhs

    sharrisbhs Member

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    Great suggestion. I did as you recommended with very competitive numbers. Thanks again.
     
  13. Kross

    Kross Member

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    Glad to help a fellow Tesla Owner :)
     
  14. CHG-ON

    CHG-ON Still in love after all these miles

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    I have my renewal right in front of me, as I renew on 7/25. I am now paying 1,711.92. Perfect record, supposedly 9K mi/yr. It has creeped up over the last three years. I think I started at about 1,300, which is what I was paying for my Acura SUV that was 25% the cost of my baby. So, not so happy about the increase. I have only Tesla parts for any repairs. No third party vendors. I'm in Santa Cruz. Carrier is Nationwide/Allied. I have an amazing broker who runs all my business and personal, if you want a referral.
     
  15. BrettS

    BrettS Member

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    If you’re paying extra for this coverage you may want to stop doing so. As of right now there are no third party parts for Tesla cars, so whether it’s specified in your policy or not you will get OEM parts.
     
    • Like x 1
  16. CHG-ON

    CHG-ON Still in love after all these miles

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    Thanks. I'll look into it.
     
  17. tpham07

    tpham07 Member

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    Geico was about $1000 cheaper than both State Farm and Allstate. Nationwide was a joke and quoted me $1500 more. Progressive was about $200 more than geico.
     
  18. Jrmarek

    Jrmarek Member

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    Try Safeco. I’ve had good luck with them and I have teenage drivers.
     
  19. ChrgdTeCHick

    ChrgdTeCHick Member

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    Use a couple insurance agents to find the best rate.

    For me Progressive was the cheapest in FL. $800/6m. $300k/$100k, $500 deductable; two 29y/32y drivers, no tickets, no bundled insurances.
     
  20. T Dawg

    T Dawg Member

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    #20 T Dawg, Jul 9, 2017
    Last edited: Jul 9, 2017
    AAA of California is $1400/year for coverage (250/500/250).

    $1000 deductible and I have 2 other vehicles and a home insured by AAA.

    There are many discounts involved here including:
    High Credit Score
    Member of University Alumni Assoc
    Multiple Car
    Home Owner
    No tickets in last 3 years
    No accidents in last 3 years

    Also, if you get into an accident and the other driver is insured by AAA, AAA waives the deductibles for both drivers....maybe an anomaly but who knows.
     

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