Model 3 insurance

[onautopilot]

Just got off the phone with AAA.

Currently we have a 2016 model S and a 2013 Chevy Volt. Both of us have good driving records. Premium is 2500$ish/year.

I was really happy to get the quote with the model 3. It only increases 80$/year. Considering the car is quite a lot newer and quite a lot more valuable. I consider this to be a good sign that insurance companies are being reasonable about the model 3. Hopefully the insurance rates on the model 3 aren't going to be too bad. It has been a concern with the model S...

 

[MX1000]

Can you clarify the $80/yr increase amount? Was it a typo and you meant $800 per year for the M3 with full coverage?

 

[onautopilot]

Sure- Basically exchanging the model 3 for the chevy volt adds 80$/year to my insurance. So the model S and the Model 3 combined are 2500 for the year. I can't tell by my quote how much the model 3 would be alone.

 

[brakar]

2500$ for two cars???
I pay far less in insurance for one house, one (new) mountain cabbin/"house", one 3year old golf sportsvan + one 12year old vw touran (registered for sub 25year old drivers).

 

[llngoc]

Hmmm, Maybe because of your location

Here in California, we pay everything more than hell...

2500$ for two cars???
I pay far less in insurance for one house, one (new) mountain cabbin/"house", one 3year old golf sportsvan + one 12year old vw touran (registered for sub 25year old drivers).

 

[brakar]

Hmmm, Maybe because of your location

Here in California, we pay everything more than hell...

hmm, unfortunately I did not understand my location would be visible

 

[gene]

Sure- Basically exchanging the model 3 for the chevy volt adds 80$/year to my insurance. So the model S and the Model 3 combined are 2500 for the year. I can't tell by my quote how much the model 3 would be alone.

In Santa Barbara, CA. I have a Model S, VW Jetta TDI, Dodge Ram 2500, and a Nissan Leaf insured with Kemper, all for $2400 a year.

 

[TaoJones]

I only called Progressive and Wawanesa, both of which insure(ed) current or past Ss at reasonable (for California/LA County) rates.

They said the Model 3 (guesstimated to a certain extent but ended up pretty close to what I configured after getting the email last month) coverage would be what amounted to 20–25% less than the Model S rates I had been quoted.

Now, depending upon how you look at that... heh. But it is what it is.

Of greater concern are the games the CA DMV is playing with registration fees starting 2018.

 

[onautopilot]

I shopped around for insurance this year. It seems that my rate is pretty much as good as I’m going to get. Like someone else mentioned- welcome to CA! On the updside it’s a pittance compared with my state tax bill

 

[smak]

I'm going to try as many places as possible. I feel the rates would vary by a lot on a brand new electric car.

 

[llngoc]

I spoke with my agent and the Model 3 is likely to be about 20% cheaper than the Model X. Which comes down to about $500 for every 6 months with a $1000 deductible and 100/300k liability.

 

[T34ME]

I spoke with my agent and the Model 3 is likely to be about 20% cheaper than the Model X. Which comes down to about $500 for every 6 months with a $1000 deductible and 100/300k liability.

I have a quote from Geico for model 3 = $509 for 6 mo. 300/500/100K, 500 deductible, roadside assistance, mechanical breakdown, etc.

 

[llngoc]

May I ask where is your location? Since insurance rate differs a lot from city to city too. For my Model S and Model X, Geico cannot match our current rate and for the Porsche we have, it was ridiculously high as Geico somehow consider them to be exotics.

I have a quote from Geico for model 3 = $509 for 6 mo. 300/500/100K, 500 deductible, roadside assistance, mechanical breakdown, etc.

 

[T34ME]

May I ask where is your location?

Semi-rural SoCal (community of ~35K population)

 

[llngoc]

I am in the San Francisco suburb so it should be comparable. Hmmm...

Semi-rural SoCal (community of ~35K population)

 

[voip-ninja]

In Santa Barbara, CA. I have a Model S, VW Jetta TDI, Dodge Ram 2500, and a Nissan Leaf insured with Kemper, all for $2400 a year.

This number is meaningless without understanding the level of coverage you have, whether you have rental reimbursement on your vehicles in the event you are hit by an uninsured motorist, etc.

Any online insurance quote tool will show you how dramatically you can swing your premium costs depending on your coverage caps, as well as your deductible.

 

[T34ME]

I am in the San Francisco suburb so it should be comparable. Hmmm...

There are so many variables at play, it is difficult to compare. For example - age, number of drivers and age, driving record, miles per year, commuting, etc. I have been a member of Geico for over 20 years and I get additional discounts for that, plus i have a second car insured with them which gets me another discount, only one or two claims over those years, etc. The only thing you can do is compare one company against another for your specific situation. Geico works best for me but not necessarily for everyone. As always, YMMV.

 

[MX1000]

Sure- Basically exchanging the model 3 for the chevy volt adds 80$/year to my insurance. So the model S and the Model 3 combined are 2500 for the year. I can't tell by my quote how much the model 3 would be alone.

I spoke to my AAA orange county office and something seems wrong for me. If I add the M3 to my existing two vehicles, just for the M3 it would be annual premium of $2500 alone. Most of this amount $2200 is for comprehensive and collision deductible of $250/$1000. I am wondering why this is so outrageously high, compared to your estimate and other insurer. I have no accidents, claims, etc.... I know there are many factors but I am using my two existing vehicles and others’ estimates to do a relative comparison and something doesn’t add up.

 

[Az_Rael]

I spoke to my AAA orange county office and something seems wrong for me. If I add the M3 to my existing two vehicles, just for the M3 it would be annual premium of $2500 alone. Most of this amount $2200 is for comprehensive and collision deductible of $250/$1000. I am wondering why this is so outrageously high, compared to your estimate and other insurer. I have no accidents, claims, etc.... I know there are many factors but I am using my two existing vehicles and others’ estimates to do a relative comparison and something doesn’t add up.

I had AAA for years until we bought two Teslas. Each one was costing around $2500 a year, as you noted. Didn't matter that mine was an older 2013, etc. I think they just don't like to insure Teslas.

We ended up switching companies. For me Geico and Ameriprise through Costco were the cheapest.

 

[SMAlset]

I just mentioned this on another insurance related thread but worth mentioning here for Model 3, InsureMyTesla (Tesla and Liberty Mutual) worth checking out: InsureMyTesla