Model 3 insurance Rates

[Chanderson]

Hey all!

I was wondering if anyone would happen to share with us how much you usually pay for insurance for a current Model s or X ? and of course i understand that one's driving habits can also be a major factor with insurance quotes, but i wanted to get a feel as to how much it would roughly be when i place insurance on the M3. Thanks !​

 

[BluestarE3]

For Model S:
Insurance On Model S?

 

[JeffK]

You also have to keep in mind that you're comparing to much higher priced items.

Also, we have no idea how self driving will affect insurance rates.

Maybe I no longer average 10,000 miles/yr and instead average 1000 mi/yr with self driving doing the rest. Should I be charged the same rate as before?

 

[Trips]

I am guessing that Tesla will offer or partner with an insurance company in the US. EM said that insurance costs could be cut 80% when self driving is achieved.

Here is one of their overseas insurance partners.
https://www.tesla.com/sites/default/files/pdfs/en_AU/AU-InsureMyTesla-Brochure-2016.pdf

 

[ArtInCT]

Your credit rating, age, location, expected miles driven and driving record, and replacement value all come into play when you get your rate for insurance.
However, I am sure you are really jumping the gun on the Model 3, it is not in any of the insurance data yet.

 

[Husamia]

Hey all!

I was wondering if anyone would happen to share with us how much you usually pay for insurance for a current Model s or X ? and of course i understand that one's driving habits can also be a major factor with insurance quotes, but i wanted to get a feel as to how much it would roughly be when i place insurance on the M3. Thanks !​

you can get free estimate on S or X, that what I did

 

[SageBrush]

Hey all!

I was wondering if anyone would happen to share with us how much you usually pay for insurance for a current Model s or X ? and of course i understand that one's driving habits can also be a major factor with insurance quotes, but i wanted to get a feel as to how much it would roughly be when i place insurance on the M3. Thanks !​

There is too much variation between cars, drivers, policies, records, states and companies to make submitted answers in any way helpful to you.

E.g., I take out million dollar liability policies but self-insure at-fault damage for two middle-aged drivers in Colorado with clean records. My current 2012 Prius (v)agon costs $250 a year and our 2013 Honda Fit costs $150 a year. The M3 will be ~ $300 a year for us, as I understand underwriting.

Other people will pay 10x that amount. Your better approach is to call your own insurance company and ask what the premium would be if you bought a $40k, entry level luxury car that weights about 4000 lbs. Pick out a model ahead of time and ask yourself if you would keep the same policy limits and deductions.Then expect to call around for quotes when the time comes; and in the meantime avoid speeding violations and at-fault accidents*.

How does one reduce the chance of an accident ?

1. Learn defensive driving
2. If you are an aggressive driver, change
3. If you have any stupid behaviors while driving (texting, chatting on the phone, intoxication etc), stop.

 

[eisbock]

1. Learn defensive driving
2. If you are an aggressive driver, change
3. If you have any stupid behaviors while driving (texting, chatting on the phone, intoxication etc), stop.

This can be summarized into:

Chill the **** out when driving.

 

[JeffK]

This can be summarized into:

Chill the **** out when driving.

I have a hard time with this... for me during rush hour the answer is a self driving Tesla.

 

[Garlan Garner]

I'm wondering about my insurance rates as well. I believe my rates are going to be up there because I'm "all buttons checked" on my order.

 

[Jayc]

There is too much variation between cars, drivers, policies, records, states and companies to make submitted answers in any way helpful to you.

E.g., I take out million dollar liability policies but self-insure at-fault damage for two middle-aged drivers in Colorado with clean records. My current 2012 Prius (v)agon costs $250 a year and our 2013 Honda Fit costs $150 a year. The M3 will be ~ $300 a year for us, as I understand underwriting.

Other people will pay 10x that amount. Your better approach is to call your own insurance company and ask what the premium would be if you bought a $40k, entry level luxury car that weights about 4000 lbs. Pick out a model ahead of time and ask yourself if you would keep the same policy limits and deductions.Then expect to call around for quotes when the time comes; and in the meantime avoid speeding violations and at-fault accidents*.

How does one reduce the chance of an accident ?

1. Learn defensive driving
2. If you are an aggressive driver, change
3. If you have any stupid behaviors while driving (texting, chatting on the phone, intoxication etc), stop.

Very sensible advice I think.

And to those of us who are new to Tesla, it is important to give enough time to get used to it. Remember that it takes just a few careless accidents for the media to explode with anti-tesla rhetoric which in-turn will mean we all pay more to insure.

 

[Scannerman]

Hey all!

I was wondering if anyone would happen to share with us how much you usually pay for insurance for a current Model s or X ? and of course i understand that one's driving habits can also be a major factor with insurance quotes, but i wanted to get a feel as to how much it would roughly be when i place insurance on the M3. Thanks !​

My insurance company (AAA) said that if I provide them with a VIN number, that they can give me a precise amount for owning an existing model.

So, just copy a VIN number off of a demo, and call your insurance company. Then attempt to extrapolate, based on the difference in sale price between the demo, and a new Model 3. I believe that should provide you with a reasonably accurate estimate.

Scannerman

 

[Garlan Garner]

Tesla Insurance?

Tesla Is Jumping Into The Car Insurance Business Overseas

 

[S'toon]

My insurance company has their base rates online. The Model S is actually a few dollars per month cheaper than my current ICE car. I think the fact it's a safer car has something to do with it.

 

[Garlan Garner]

My insurance company has their base rates online. The Model S is actually a few dollars per month cheaper than my current ICE car. I think the fact it's a safer car has something to do with it.

Good to know. Thanks.

 

[Darryl]

The insurance was equivalent to other luxury cars of similar cost.

 

[Az_Rael]

So, just copy a VIN number off of a demo, and call your insurance company. Then attempt to extrapolate, based on the difference in sale price between the demo, and a new Model 3. I believe that should provide you with a reasonably accurate estimate.

Price of the car doesn't always extrapolate well. I paid what I consider Model 3 money for my used S ($58k) and my insurance price on the used S was not lower. Mostly because of high repair costs and that P badge, I would imagine.