Model 3 insurance quotes - starting out reasonable.

[Garlan Garner]

I have Geico Insurance and they have indeed added the Model 3 to their options. Tesla must have released some kind of cost and replacement costs to them to start quoting prices.

Tesla Model 3 insurance: GEICO among the first to provide quotes

 

[Ponsonby Britt]

GEICO for my 2014 Jetta costs $662.30 for six months. For a 2017 Tesla Model 3 with the same coverage, the price is $770.70. Before you gasp at the price, that’s what insurance costs in Florida.


In any case, 60 cents extra per day for Tesla insurance sounds like a pretty good deal to me.

 

[Big-T]

I"m with Geico so I plugged in that white VIN# for a replacement quote. Same coverage was an extra $140 per six months compared to my current '08 lancer. I was pretty happy with that considering one car is worth about 5k now and the other listed at 35k.

 

[a.void]

People quoting insurance costs without all the factors makes no sense.
Too many things go into it (bundling with home and other cars, how old are you, how many claims, how many tickets, what state, what is your level of coverage, what's your collision deductable, etc, etc).

 

[Garlan Garner]

People quoting insurance costs without all the factors makes no sense.
Too many things go into it (bundling with home and other cars, how old are you, how many claims, how many tickets, what state, what is your level of coverage, what's your collision deductable, etc, etc).

I disagree.

People have been wanting ballpark insurance rates for the Model 3. The simple fact that you can get insurance down to $100 per month at least lets folks know its doable ( no matter what kind of deductible... and coverage parameters ).

BTW.....everyone can go to Gieco.com and try it for themselves now. Quotes are free.

Before this thread....did you know there were actual real live Model 3 quotes out there? ( you don't have to answer that, I know the answer lol ) So, it has served its purpose.

 

[patrick40363]

I currently pay $700 per 6 months on my 85D.

 

[tracksyde]

I filled out the quote form as a single male, no other drivers, no traffic incidents, driving 10k miles a year in Southern California and the cost came out to ~$1,100 per year.

I then filled out the quote form to get a real cost (which included 4 cars, 3 drivers) and the incremental cost of adding the Model 3 (as a commuter car, 10k miles a year) was $700 per year

Definitely not as bad as I thought it would/could be.

 

[insaneoctane]

People quoting insurance costs without all the factors makes no sense.
Too many things go into it (bundling with home and other cars, how old are you, how many claims, how many tickets, what state, what is your level of coverage, what's your collision deductable, etc, etc).

Relative to another equally covered car seems like a decent comparison to me. The biggest potential factor is if a policy goes from single automobile to multi vehicle, that would skew things. Hopefully the comparisons offered so far are for replacing the previous vehicle, not just adding....

 

[a.void]

I disagree.

People have been wanting ballpark insurance rates for the Model 3. The simple fact that you can get insurance down to $100 per month at least lets folks know its doable ( no matter what kind of deductible... and coverage parameters ).

BTW.....everyone can go to Gieco.com and try it for themselves now. Quotes are free.

Before this thread....did you know there were actual real live Model 3 quotes out there? ( you don't have to answer that, I know the answer lol ) So, it has served its purpose.

YMMV with Insurance rates.

I'll tell you that I haven't seen car insurance rates with comprehensive coverage for any car I've owned in the last 15-20 years over $500/ YEAR. (this includes Acuras, BMWs, Convertible sports cars, etc) (excluding my teen driver's car)

If I see anything near $100/ Month I will lose my mind. This is a mid-$40K car with reasonable options. No way it should be that high in "my world."

 

[206er]

the gecko, our current ins company, wants $175/mo for a Model 3. we currently pay $134 for our ILX. wife totaled our last car, a Civic, several years ago after getting hit by a bus (was deemed her fault).

anyone know how long an at fault accident like that will stick with us?

 

[Garlan Garner]

YMMV with Insurance rates.

I'll tell you that I haven't seen car insurance rates with comprehensive coverage for any car I've owned in the last 15-20 years over $500/ YEAR. (this includes Acuras, BMWs, Convertible sports cars, etc) (excluding my teen driver's car)

If I see anything near $100/ Month I will lose my mind. This is a mid-$40K car with reasonable options. No way it should be that high in "my world."

What kind of car are you driving? Yugo?

lol

 

[Trips]

Geico is doing something right. I did a single car with the same selects.
2011 Lexus IS250 AWD - $335.04 / 6 months
2017 Tesla Model 3 - $409.25 / 6 months

Only issue is that my homeowners insurance will go up a couple hundred as I cant get a home and auto discount. Only other option would be to add a different car to my homeowners policy.

 

[Garlan Garner]

Geico is doing something right. I did a single car with the same selects.
2011 Lexus IS250 AWD - $335.04 / 6 months
2017 Tesla Model 3 - $409.25 / 6 months

Only issue is that my homeowners insurance will go up a couple hundred as I cant get a home and auto discount. Only other option would be to add a different car to my homeowners policy.

There ya go. That looks good.

 

[Arctic1888]

Do you guys in the USA have insurance groups for cars? If so, do you now know what group the Model 3 is and is it similar to say a BMW 3 series or Audi A4 for example?

 

[TaoJones]

28% cheaper to insure a Model 3 than my current 2017 S90D. At least with Geico versus Progressive.

My recollection of the Geico quote so to compare apples to apples would mean a 50% difference. Which makes more sense.

 

[Sonny Daze]

Geico is doing something right. I did a single car with the same selects.
2011 Lexus IS250 AWD - $335.04 / 6 months
2017 Tesla Model 3 - $409.25 / 6 months

I own a very similar car and my Model 3 quote from USAA is 21% LOWER than what I am currently paying for the same coverage.

 

[SageBrush]

People quoting insurance costs without all the factors makes no sense.
Too many things go into it (bundling with home and other cars, how old are you, how many claims, how many tickets, what state, what is your level of coverage, what's your collision deductable, etc, etc).

That is why you want to pay attention to the difference in insurance cost between their two cars; the other variables remain the same if they keep the same policy limits and choices.

 

[trm2]

Do you guys in the USA have insurance groups for cars? If so, do you now know what group the Model 3 is and is it similar to say a BMW 3 series or Audi A4 for example?

Yes, most companies here use symbol sets for rating. Initially, the 3 will be rated as whatever the company thinks is comparable. Once companies have actual data on losses they will adjust prices as necessary. What you pay year one may be vastly different from a renewal quote.

I don't yet know how my company is rating the car.

 

[eloder]

People quoting insurance costs without all the factors makes no sense.
Too many things go into it (bundling with home and other cars, how old are you, how many claims, how many tickets, what state, what is your level of coverage, what's your collision deductable, etc, etc).

Nothing bundled, no additional features added on past what you see on the screen.

Original car is a ~28k Leaf.

It's definitely not bad.

 

[Holmank]

Trying to wrap my head around what some of you are paying.... WOW. I have a clean record, 46 years old with a 2012 Infiniti M37x.. Wife, clean record, 45 years old, 2011 Toyota Highlander and a daughter, 16 years old, 2013 Ford C-Max Energi and I pay $750/6 mo for everything. I have GEICO and got a quote on the Model 3, $7 more per month (taking away the Inifiniti)... I'll take it.