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Insuring a novel vehicle like a Tesla

Discussion in 'Model S' started by efusco, Sep 7, 2009.

  1. efusco

    efusco Moderator - Model S & X forums

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    Hey folks, anyone with experience insuring an EV or a conversion. Just curious about general experiences with rates and such.

    When I get my Model S I'll likely be one of the only USAA insured Tesla owners and wouldn't expect them to have standard rates determined for the Model S. They almost assuredly won't have crash test ratings either. So how is my insurance rate determined? Is there some formula they use for non-conventional/production vehicles?

    On a side note, what are people paying to insure the Roadster vs similar conventional 2 seater sport cars?
     
  2. dsm363

    dsm363 Roadster + Sig Model S

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    I'll be number 2 USAA insured Model S owner then so I'd love to find out too.
     
  3. rsquared99

    rsquared99 Member

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    I insured my 2010 Roadster with USAA without any hassle. It was not in their file when I did so, but it didn't take them long to come up with a rate. And I read on the owners site of at least one other USAA owner of a Roadster before I signed up for mine.
     
  4. efusco

    efusco Moderator - Model S & X forums

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    Dude, you're a SIG...I'm a lousy R...you'll be first so I'll take my tips from you!
     
  5. efusco

    efusco Moderator - Model S & X forums

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    I assume the rate seemed pretty fair compared to comparable vehicles?
     
  6. Tdave

    Tdave Member

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    My 2010 Roadster Sport is insured with State Farm for $238.20 per 6 months. That's with discounts for multi-car and also having my homeowners and umbrella policies with them, and good driving record.
     
  7. dsm363

    dsm363 Roadster + Sig Model S

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    Ah, you're right. USAA is a good insurance company and bank. I've never been more happy with an insurance company so I'm sure the rate will be ok. Probably not lowest but fair.
     
  8. efusco

    efusco Moderator - Model S & X forums

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    Gotta love USAA...I'll have the same 'extras', so would expect a similar rate.
     
  9. efusco

    efusco Moderator - Model S & X forums

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    Absolutely, they've been nothing but outstanding for us as well. May be the single best benefit I got out of my days in the Guard.
     
  10. mpt

    mpt Electrics are back

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    Hmm, I just switched to State Farm with House + umbrella and am at $900+/year.

    I found that I have three points... something to do with manuvering... Pfft!

    But still, why double... for a normal model?

    I'm in NJ and include travel to work and back.

    How do your details compare?
     
  11. Tdave

    Tdave Member

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    I'm not in NJ. That's probably it right there. I have a clean driving record, too. My other details are the same. The Roadster is listed as my primary vehicle that I commute with (14 miles each way -- wish it was longer now that I have the car :)
     
  12. TEG

    TEG TMC Moderator

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    Those points on your record can be very costly.
     
  13. mpt

    mpt Electrics are back

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    I've asked State Farm to break it down. He indicated that it should be in the $700 range without the points; that's still significantly higher.

    I'll await his comments.

    ... I'm paying $400ish for an Audi A6 and the same for a Honda Insight so the 700ish with no points seemed fair at the time.

    ...Three points... what kind of world is it where you get three points for turning round in the road?... and how was I suposed to know that you're expected to carry your insurance docs wherever you go and that you have to re-register your car every single year? I registered it when I bought it... done, registered.
     
  14. rolosrevenge

    rolosrevenge Dr. EVS

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    Wow! That's only twice as much as my crusty old 1990 Ranger that almost is never driven. I didn't realize insuring such a car as a roadster was so affordable.
     
  15. lghf

    lghf New Member

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    My 1990 Camry is $343.05 for six months with USAA CASUALTY INSURANCE COMPANY in upstate NY. That is with an additional fee of $48.07 for being licensed for less than three years.
     
  16. vfx

    vfx Well-Known Member

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  17. TXjak

    TXjak Owner/Investor/Advocate

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  18. FlasherZ

    FlasherZ Sig Model S + Sig Model X + Model 3 Resv

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    State Farm quoted me 620ish per 6 mos and it ended up being 580ish when it was processed.

    That is 250/500, 0 deduct comprehensive and 500 deduct collision plus rental car coverage.
     
  19. GDH

    GDH Banned

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    My quote to insure a base Model S was $1150 for six months with Progressive, it s was $2250 with Liberty Mutual and State Farm could not give me a quote because of no VIN. I pay $539.00 for 6 months for my 2013 Volvo S60 T6, which is fully loaded.
     
  20. AndyM

    AndyM Member

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    GDH, that number seems excessively high to me. I'm an existing State Farm customer, and was quoted $563.64 for six months, using their online tool, without needing a VIN.

    Coverage includes:
    $250K per person/$500K per accident bodily injury, and uninsured motorist
    $100K per accident property damage
    $25K personal injury protection
    $250 deductible (comprehensive and collision)
     

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