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liberymutual insurance

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Tesla should require Liberty Mutual insurance quote to be at least the second / third lowest of quotes from the 5 largest auto insurers. That would put them in the middle of the group or lower. The more competition the better. It would also drive the average price for insurance down.
 
  • Disagree
Reactions: kort677
Tesla should require Liberty Mutual
seriously? when tesla is issuing the insurance then tesla can set the rates. there is a reason tesla has PARTNERED with an insurance company rather than become an insurance company because the underwriting of policies is not a simple or one size fits all game.
I find it amazing how little people seem to know about how insurance works.
 
I have Liberty now but if Liberty tries to stick it to me on my Model 3, they lose all my business and I'll find another company. If Tesla is going to refer owners to Liberty, then Tesla should have protected their name a little buy making sure that Liberty was not going to screw Tesla owners.
 
Insurance is an individual thing. I just quoted a 2017 Model S and a 2017 Model X for my wife and I (no, I don't have either yet, just demonstrating) with progressive and the policy with "full coverage", high limits and only $500 deductibles is $323 per six months. Total. Both vehicles. Same coverage at GEICO is $1,311. And then Liberty Mutual wants $354 PER MONTH. All 3 are fine insurance companies, it’s just that prices vary widely.
 
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Reactions: PRSIST
Insurance is an individual thing. I just quoted a 2017 Model S and a 2017 Model X for my wife and I (no, I don't have either yet, just demonstrating) with progressive and the policy with "full coverage", high limits and only $500 deductibles is $323 per six months. Total. Both vehicles. Same coverage at GEICO is $1,311. And then Liberty Mutual wants $354 PER MONTH. All 3 are fine insurance companies, it’s just that prices vary widely.

$323 per six months seems like too good o be true
 
seriously? when tesla is issuing the insurance then tesla can set the rates. there is a reason tesla has PARTNERED with an insurance company rather than become an insurance company because the underwriting of policies is not a simple or one size fits all game.
I find it amazing how little people seem to know about how insurance works.
True, however, car insurance is closer to a one size fits one game and is controlled by state. Some states are bigger PITAs than others. Do what you do best, Tesla needs to focus on building vehicles.

ETA: wow, I've never had anyone disagree with me for agreeing with them.
 
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  • Disagree
Reactions: kort677
True, however, car insurance is closer to a one size fits one game and is controlled by state.
while almost every state regulates insurance the states do not regulate the underwriting and the premiums charged. Like I've noted many times, there is no one size fits all for auto insurance, every policy written is unique to the car/driver it is written for.
 
while almost every state regulates insurance the states do not regulate the underwriting and the premiums charged. Like I've noted many times, there is no one size fits all for auto insurance, every policy written is unique to the car/driver it is written for.
I agree that EVERYONE has a different price (hence my one size fits one comment).

Individual states do regulate underwriting and premiums charged. There are three kinds of states: File and Use, Use and File and Prior Approval.

Some examples of states regulating the underwriting/premiums:
California won't let insurance companies rate on credit (underwriting). Arizona mandates an auto theft fee on every car (premium). Florida had a "hurricane tax" that is now gone (premium). New Mexico requires UM/UIM coverage. North Carolina can require a Consent to Rate (so companies can charge more and offer insurance). I've seen numerous states change minimum liability limits in my 20+ years in the business.

Look up California prop 103 if you need a great example. States absolutely regulate underwriting and premiums.
 
Per month

If you're willing to share for a comparison basis, what is your current car and what is your insurance cost for it? (Insurance is highly specific to individuals but a comparison against current vehicle and insurance cost can be a good indicator of whether a Model 3 costs more or less to insure than X comparison vehicle that you currently drive)
 
I have had Liberty Mutual for a few years, their rates are better than others as I shop around every year around renewal time. However the savings is becoming less and less. This year the only reason they are still cheaper than others is because I am not a new customer.

LM is most competitive if you also insure your house and have multiple vehicles and drivers. No house, single car, they are more expensive than others.
 
Insurance is always costly. One way to reduce the cost is to raise the deductible.
The money you save by raising the deductible could be saved yearly and put aside for future deductible payments if needed.
I have $1000 deductible on my cars and a high deductible on my home. I bundled the policies together with the same company for a discount. I would rather not pay more for insurance than I need to.
 
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Reactions: SageBrush and Dr. J
What a scam! Just gave them a ring. They quoted me $424 a month with an immaculate record for the exact same coverage. I recently got my insurance rates raised by state farm and was shopping around. I pay about $180 a month for my model s (up from $120) . Progressive was the only other company that gave me a decent quote.
 
What a scam! Just gave them a ring. They quoted me $424 a month with an immaculate record for the exact same coverage. I recently got my insurance rates raised by state farm and was shopping around. I pay about $180 a month for my model s (up from $120) . Progressive was the only other company that gave me a decent quote.
Progressive was also the only one that would give me a reasonable quote after shopping around 5 carriers.
 
Just got a guesstimate from Amica here in MA at $2,700/year. Highest rated driver, no accidents/points, $250k property, $250/500 bodily across the board, $1k ded coll, $300 ded comp. Have life/umbrella/home policies w/ Amica as well. They mentioned they need a VIN to provide a more refined quote.

This compares to my 08 Jetta with same coverages at $1000/year.