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Large Insurance Price Increase

Discussion in 'Roadster' started by jbadger, Jun 30, 2013.

  1. jbadger

    jbadger Roadster #506

    Joined:
    Dec 28, 2012
    Messages:
    272
    Location:
    San Jose, California, United States
    Has anyone noticed this year a rather large price increase for their Roadster? I'm curious to see if Roadsters, or the Tesla name, have become more well known causing the insurance rates to increase.


    Screen Shot 2013-06-30 at 9.33.04 AM.png

    This screenshot shows last years rate, and the below quote shows what it is going up to. No explanation given on the website, i'll call in to find out more. Only other thing I can think of was the accident I had this year, but I can't imagine nearly doubling the rate.

     
  2. Denarius

    Denarius Active Member

    Joined:
    Apr 27, 2013
    Messages:
    1,348
    Location:
    Utah
    An accident wouldn't raise your rate that much. Usually between 10-15%. I'd be looking for a new insurance provider.
     
  3. jordanthompson

    jordanthompson 2010 2.0 Sport, VIN 0683

    Joined:
    Apr 27, 2011
    Messages:
    512
    Location:
    Satellite Beach, FL
    Here is ours from Florida (this is a 6 month premium and yet another reason I like to live in this state :tongue:):
    insurance.png

    I don't mean to pry and I am not in the insurance business, but if you own a Tesla (your income/assets are above average), I would think that you would want to increase your coverage.
     
  4. DrComputer

    DrComputer Member

    Joined:
    Jan 29, 2009
    Messages:
    890
    Location:
    Sherman Oaks, CA
    I think it's time to look for a new insurance carrier. My Roadster rates have gone down over the past two years. I'm in one of the most expensive rate areas in Los Angeles. Here's my current State Farm 6-month premium info:

    statefarm.JPG

    Please note that I do get great discounts for having multiple policies and no accidents or tickets. Also, the Roadster is listed as a secondary car with the Model S being the primary.
     
  5. jbadger

    jbadger Roadster #506

    Joined:
    Dec 28, 2012
    Messages:
    272
    Location:
    San Jose, California, United States
    I'm going to try and go back to AAA. I originally went to Esurance due to AAA raising my rates considerably for a traffic violation with my previous car.

    AAA doesn't list Tesla as an option, so I selected a 2010 Lotus Elise hoping it would be somewhat comparable. @jordanthompson, I agree, the coverage is quite low and I'll be upping it quite a bit.

    Screen Shot 2013-06-30 at 11.24.30 AM.png
     
  6. wiztecy

    wiztecy Active Member

    Joined:
    Apr 29, 2012
    Messages:
    2,712
    Location:
    Santa Cruz, California, United States
    Check out Liberty Mutual, after shopping around and hearing the good reviews on the this forum I inquired. They beat everyone's price by over $500 per year for full coverage on the Roadster and then just liability on the other vehicles. Paying $700 / year which covers my 4x4 truck, my subaru, and full coverage on the Roadster. Excellent customer service. I was able to get huge discounts for being an alumni of the University of California. Other colleges should have an affiliation with them.
     
  7. blavenn

    blavenn Member

    Joined:
    Dec 10, 2012
    Messages:
    42
    Location:
    Miami
    Jordan,

    From the looks of the table format you pasted in, you have Progressive right? I'm in Florida as well and had Progressive for 5 years with no accidents or claims and they wanted 600/month for full coverage and I had to give them a value of approx 90,000 since they didn't have the Tesla in their system, talked to 2 ppl and the same thing. canceled and went to state farm but still paying 400$/month premium. Wonder what gives???
     
  8. Andrew Wolfe

    Andrew Wolfe Roadster 472 - S 440

    Joined:
    Jun 20, 2011
    Messages:
    573
    Location:
    Los Gatos, CA
    Mine is pretty reasonable. Admittedly, I have a couple of other cars and don't use the Roadster as a daily driver - but I also have a teenage driver at home who has a less than spotless record.

    Capture.PNG
     
  9. jbadger

    jbadger Roadster #506

    Joined:
    Dec 28, 2012
    Messages:
    272
    Location:
    San Jose, California, United States
    I just made the switch to AAA, as I've had them before and loved their customer support and professionalism. Not to mention, my insurance will be $400 cheaper than last year, and $3000 cheaper than what Esurance raised it to for this year :scared:. I'm also getting much better coverage, as suggested by jordanthompson.

    Screen Shot 2013-07-01 at 5.43.41 PM.png
     
  10. hcsharp

    hcsharp Active Member

    Joined:
    Jun 7, 2011
    Messages:
    2,532
    Location:
    Vermont
    Mine went way up this year too. But it was so cheap to begin with that it's hard to complain. I'm paying barely over $1,100/yr with the AARP program from The Hartford. I have two teenage drivers (with bad records) but they don't drive the Tesla. I was offered a lower quote from Liberty Mutual but it included a "first time Liberty Mutual customer discount." When I asked how much that was, and how much it would go up next year, they couldn't tell me. Too sleazy for me so I renewed with The Hartford even though they're probably doing the same thing.
     
  11. wiztecy

    wiztecy Active Member

    Joined:
    Apr 29, 2012
    Messages:
    2,712
    Location:
    Santa Cruz, California, United States
    ..
    I'll have to inquire about that... I didn't see any 1st time Liberty Mutual discount mentioned or disclosed in my quote. My biggest discount was due to my college affiliation. I'll ask about the fine print.
     

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