MASTER THREAD: Tesla Insurance Services in California

[Az_Rael]

I got a quote that saved me about $700 a year...Only real difference is with my uninsured motorist property. I currently have 100k, but Tesla only offers 3500. My understanding of this is that if someone with no insurance and/or under insurance is found to be at fault, the uninstured motorist would cover my property damage?? if so 3500 probably not going to be enuff? Am I misunderstanding this?

Thanks

That is a weird California thing. I encountered it with my Ameriprise insurance too. If you have collision with them they wouldn’t let me buy uninsured property damage. They told me it was only $3500 max anyway. I believe it is so you can add uninsured motorist with a liability only policy or something. When I actually got into a not at fault accident with an uninsured person, my collision policy covered the cost of my Model S. So, maybe it isn’t needed if you have “full coverage”?

Automobile Insurance Information Guide
Uninsured Motorist Coverage (UMC) /Underinsured Motorist Coverage (UIM)
This covers you if you are in an accident with a driver who does not have any liability insurance, or is underinsured.

The insurance company must offer you this coverage. If you choose not to buy it, you must sign a form, called a waiver. The form says you were offered the coverage and turned it down.

• Uninsured motorist bodily injury (UMBI): This pays for injuries to you and any person in your car when there is an accident with an uninsured driver who is at fault. The limits are the same as your liability coverage limits.
• Underinsured motorist (UIM):This covers limited costs for bodily injury if you are in an accident with a driver who does not have enough insurance to pay for damage
• Uninsured motorist property damage (UMPD): This pays for the damage to your car from an accident with an uninsured driver who is at fault. The limit is $3,500. This only pays if the uninsured driver is identified. You may not need it if you have collision coverage.

 

[m3supra]

The answer is always "Make an appointment through the app"

 

[Rottenapplr]

I pay $100 for my current insurance (I have my house, and other discounts). The lowest I could get with the tesla insurance is $117. Kinda lame. Plus who knows what the coverage is like when there’s an accident. My insurance totally repaired my wrecked 2010 bmw at $8000 last yr. I know they took care of me.

 

[lozza]

Way more expensive than Costco Ameriprise

 

[eustachio]

I got a quote, nearly half the price of current insurance with Geico for identical coverage.

We spend so much time on this forum talking about how we can’t get through to a live person at Tesla on the phone.

I called the insurance line tonight and spoke to a real person within a few minutes.

 

[djroberts]

What's your situation and coverage like?

My coverage is listed as the OP. I have a clean driving record. Mid 40s and licensed since I was 17. 12k driving per year, mostly to and from work.

 

[djroberts]

That is a weird California thing. I encountered it with my Ameriprise insurance too. If you have collision with them they wouldn’t let me buy uninsured property damage. They told me it was only $3500 max anyway. I believe it is so you can add uninsured motorist with a liability only policy or something. When I actually got into a not at fault accident with an uninsured person, my collision policy covered the cost of my Model S. So, maybe it isn’t needed if you have “full coverage”?

Automobile Insurance Information Guide
Uninsured Motorist Coverage (UMC) /Underinsured Motorist Coverage (UIM)
This covers you if you are in an accident with a driver who does not have any liability insurance, or is underinsured.

The insurance company must offer you this coverage. If you choose not to buy it, you must sign a form, called a waiver. The form says you were offered the coverage and turned it down.

• Uninsured motorist bodily injury (UMBI): This pays for injuries to you and any person in your car when there is an accident with an uninsured driver who is at fault. The limits are the same as your liability coverage limits.
• Underinsured motorist (UIM):This covers limited costs for bodily injury if you are in an accident with a driver who does not have enough insurance to pay for damage
• Uninsured motorist property damage (UMPD): This pays for the damage to your car from an accident with an uninsured driver who is at fault. The limit is $3,500. This only pays if the uninsured driver is identified. You may not need it if you have collision coverage.

The 3500 is how much they'll pay before you have to pay the collision deductable. Over that amount, collision kicks in to cover the rest.

 

[djroberts]

I got a quote that saved me about $700 a year...Only real difference is with my uninsured motorist property. I currently have 100k, but Tesla only offers 3500. My understanding of this is that if someone with no insurance and/or under insurance is found to be at fault, the uninstured motorist would cover my property damage?? if so 3500 probably not going to be enuff? Am I misunderstanding this?

Thanks

See my last post.

 

[OCR1]

I think we all understand what the competitive advantage is for choosing a Tesla vehicle versus an ICE vehicle. There is value in the Tesla product.

What is the value add of Tesla insurance over any other insurance company? Are they offering anything here other than a possibly lower price to those people who most likely have no other insurance requirements and therefore are not getting a multi-policy discount?

 

[127.0.0.0]

I think Tesla insurance is great at-least the pricing that I am seeing It is beating geico in most of the cases. My brother got more than 3 folds of coverage now with Tesla and he was paying more with geico for so much less..


In other hand mine was still cheaper with geico but that could be because. I have multiple cars and also home owner insurance and Umbrella with them.

 

[Msjulie]

Tesla vs USAA - Tesla much more but I suspect since there's only 1 Tesla in the house, no multi-car discount? Also home owners with USAA as well...

$115 vs $76 for the same coverage values

 

[tvad]

Tesla vs USAA - Tesla much more but I suspect since there's only 1 Tesla in the house, no multi-car discount? Also home owners with USAA as well...

$115 vs $76 for the same coverage values

USAA is a great insurance company if you're a veteran; competing companies' rates will never beat USAA. However, USAA is not a good comparison precisely because USAA limits its coverage to veterans. USAA always has an asterisk in JD Power surveys for this reason.

 

[Msjulie]

@tvad I knew USAA limited it's coverage to veterans AND family of same (I was covered since forever from dad's coverage and was able to extend to myself)

That said, though the pricing is good sometimes I find the claims service to be less than it once was many years back... avoid claims I suppose.. but they paid for my glass chip repair w/o even requiring a receipt and super fast!

I wanted Tesla insurance to be best, hopefully for many it actually turns out to be so..

 

[djroberts]

I think we all understand what the competitive advantage is for choosing a Tesla vehicle versus an ICE vehicle. There is value in the Tesla product.

What is the value add of Tesla insurance over any other insurance company? Are they offering anything here other than a possibly lower price to those people who most likely have no other insurance requirements and therefore are not getting a multi-policy discount?

1.The ntegrated my roadside assistance and rental car coverage at no extra charge. In warranty vehicle thing I think.
2. It was easy to talk with a real human and they were nice.
3. It's the only option for those of us who were getting screwed by Geico. 205 to 115 a month.

It's not usually possible for someone who's been with a company for a long time to find a cheaper rate. This is the first time I've ever seen actual competition.

 

[Rottenapplr]

I guess if I didn’t own a home this would be a good option but not for those who have other assets insured other than their tesla.

 

[derotam]

@tvad I knew USAA limited it's coverage to veterans AND family of same (I was covered since forever from dad's coverage and was able to extend to myself)

That said, though the pricing is good sometimes I find the claims service to be less than it once was many years back... avoid claims I suppose.. but they paid for my glass chip repair w/o even requiring a receipt and super fast!

I wanted Tesla insurance to be best, hopefully for many it actually turns out to be so..

I also like being able to call up my local Agent, same person every time, if I need to ask a question or make a change. Every time I ever called up the 1-800 number of my insurance company, they would mess things up....mainly because that agent would basically "re-write" the policy so it was "new" so they could get whatever commission they get.

 

[Pkmmte]

Does anyone know if there's a way to get a quote with more than just one driver? I know there's a way of adding driver's after the fact, but I'd like to know how much it affects cost for me.

 

[EPerformance]

Well, this is disappointing. I'm currently insured with Ameriprise through Costco. Tesla insurance would cost me 2.7x MORE (and likely more than that due to the loss of bundling) than I'm currently paying.

 

[m3supra]

I got a quote, nearly half the price of current insurance with Geico for identical coverage.

I called the insurance line tonight and spoke to a real person within a few minutes.

I want to be optimistic, but Tesla sales is completely different from Tesla customer support. I've also been able to speak to somebody before delivery....

 

[DoctorVenkman]

For everyone jumping on the low price, remember that a quote is the easiest thing for an insurance company to do. It's just a pricing algorithm and some web code - a few Silicon Valley tech bros could whip up a quote page in a week or two.

The real test will be how do they handle claims. As someone who has had to deal with Tesla customer service, I'm not super confident in their ability to deal with multiple adverse parties and negotiate the best result on my behalf. I will be waiting this one out for a year to see how their claims handling goes, even though the Tesla quote is about $500/year cheaper for me.