Merrill
Merrill
My quote with USAA was 30% more than my current insurance and that is home and auto.
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MASTER THREAD: Tesla Insurance Services in California
- Thread starter BobAbooey
- Start date
Be sure that the coverages are the same. I found that Tesla had really low coverage amounts, and you had to update the coverage amounts to make them comparable.
I wasn’t able to check before the algorithm change, but after the algorithm change it dropped to 100$ a month for me (in CA Bay Area). That is about 18$ less than my current policy, but when I updated the policy terms and made sure to put in my low usage of average 6500 miles a year it went LOWER to 83$ a month, so i’ll probably switch for that amount of savings.
Tezzie
Member
Same here!
From what I understand, Tesla is basically acting as a broker for auto insurance, which I have no problem with. Unfortunately, I'm not willing to accept a $2000 deductible, and when I adjusted the coverage to match my current policy with Geico, The 6-month premium with Tesla was $1572 for JUST the Tesla, compared to my Geico policy for $1408, which covers BOTH my cars. Also, I don't see that Tesla offers an Umbrella policy, as Geico and most auto insurance carriers do. So, I'm sticking with Geico, but will keep an eye on what Tesla does.
It's a good thing that Tesla is testing the market in CA first, because I don't see this being a profitable move for Tesla, despite any mark-up percentage the company receives on each policy it sells.
forkee
Member
Finally was able to check the rates after they updated their algorithm. It was a no brainer to switch after quotes came up less than half what we're paying through AAA with 5x better coverage from Tesla. Keep in mind you need to call them to add 2nd Tesla as well as second driver but they haven't fixed that ability yet (2nd driver) so give them a few more days.
israndy
Supercharger Hunter
Nuts, I pay $1,587/yr. for CSAA with 1,000,000 coverage and $50 deductible. Admittedly I have a ton of other cars and RVs and houses also with them. A friend has USAA and pays around $1200/yr., not sure why they won't take me as a member.
Tesla wanted $1,876/yr. for the same coverage.
Tesla wanted $1,876/yr. for the same coverage.
The idea that statutory regulation makes customer service good is laughable. I am highly suspect of how Tesla (or whatever company it's ceding business to) will handle claims. Will they fight you every step of the way? Will they not answer the phone immediately when you call? Will they drag their feet to do anything more than a button click? Will they make silly mistakes in their back end systems? Based on my experience with Tesla customer service, the answer to all those questions is yes. I hope I'm wrong, but I'm waiting to see how it works out.
Kleenerth3
Member
Kleenerth3
Member
We just switched from Mercury and we're saving almost $600/ yr.
Mercury. Tesla
25K property dam. 50K
25/50 bodily inj. 100/300
25/50 uninsuredmotorist. 30/60
Bodily inj.
Everything else is the same. Couldn't pass up on this kind of saving. These numbers are what matters.
Mercury. Tesla
25K property dam. 50K
25/50 bodily inj. 100/300
25/50 uninsuredmotorist. 30/60
Bodily inj.
Everything else is the same. Couldn't pass up on this kind of saving. These numbers are what matters.
Petrocelli
Member
Actually, claims handling is what matters when you get into an accident. Do you really want an insurer that has a history of not answering phone calls, or responding to emails?
I sometimes wonder if this is some sort of scheme to get more cash on hand.
Kleenerth3
Member
LOL. That sounds like most of the insurance companies. I get your point, we just don't know with a new entity. Mercury, Allstate and AAA we've had and even minor BS required multiple phone calls, forms and follow ups with repair shops
I'm betting that being all in house, things have got to be smoother... Right?
Kleenerth3
Member
... I mean if there's a problem I just drive the loaner Tesla longer...
I was curious about that since the only thing noted on the website is "in network". Does it say in the insurance policy that loaners will be Teslas?
Kleenerth3
Member
Well, Tesla has deals with Enterprise too. Some people end up with Enterprise gas loaners for service visits.
What does the actual rental clause in the policy say? That in network is Tesla, or in network is Enterprise?
Kleenerth3
Member
Well Az-Rael, you fed me info I hadn't heard. You are correct! The policy doesn't name Enterprise per se, but says "You'll be reimbursed for expenses incurred for rental from "in network rental provider".". This isn't definitely Tesla or Enterprise. Could be either/or. I'm now going to make a few calls and see.
Thanks for the update and I will let you know what I find out. I'm glad it's covered either way but going back to an ICE vehicle, not so much.
Thanks for the update and I will let you know what I find out. I'm glad it's covered either way but going back to an ICE vehicle, not so much.
Interesting! Keep us posted. I am very curious about this and since you actually have a policy in hand we can get further details than the website.
Kleenerth3
Member
Ok. This is what I found out from my phone call. They have to have the car 24 hrs min. for the clause to kick in. If they have a Tesla available, you'll most likely get that, though that also is up to the service agent and SC. So again either/or. Clear as mud?
The coverage numbers are so much better than the old one and the cost is good. It only took 2 minutes to answer my call and the agent on the line was really on top of it. She also noted that as more of us get the insurance, the rates will improve even more. Her advice was even if you have one year policy check back every 3 to 6 months to check if rates have improved. They can adjust it. I bought 6 mos. Which was an automatic entry when you hit "Buy Policy".
IMHO, as Tesla Ins. matures it's only going to improve.
Thanks for feeding me some great info and making me use their system to see how it went. Bummer on the ICE rentals but according to the contract they will reimburse all costs. To me that also means the fuel to run it. As I learn more, I'll be back to this thread to fill you in.
The coverage numbers are so much better than the old one and the cost is good. It only took 2 minutes to answer my call and the agent on the line was really on top of it. She also noted that as more of us get the insurance, the rates will improve even more. Her advice was even if you have one year policy check back every 3 to 6 months to check if rates have improved. They can adjust it. I bought 6 mos. Which was an automatic entry when you hit "Buy Policy".
IMHO, as Tesla Ins. matures it's only going to improve.
Thanks for feeding me some great info and making me use their system to see how it went. Bummer on the ICE rentals but according to the contract they will reimburse all costs. To me that also means the fuel to run it. As I learn more, I'll be back to this thread to fill you in.
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