Model 3 insurance

[rxlawdude]

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.

Ameriprise has been great. We dropped a 2010 Lexus ES 350 and replaced with the M3. Total change in premium was not significant. For a 2015 MS70D and the 2017 M3, maximum coverage limits, total around $1600/year.

 

[rxlawdude]

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

The premiums for that are absurd. Beyond absurd.

 

[Sabinanners]

Just got my VIN# today 313x (configured 12/8)
Called AAA, Orange County California.

Going from (annually) increase from $613 to $1,553

Conditions
-adding this as our 3rd vehicle, no financing
-Deductible $1,000
-Coverage: Property $50K, Body/medical $50/$100K
-No rental, no uninsured motorist, no uninsured deductible waiver
-estimated annual miles (5K)
-Combo discounts: Good driver, multi vehicle, multi policy, loyalty, Grp-deg prof, verified mileage

 

[rxlawdude]

Just got my VIN# today 313x (configured 12/8)
Called AAA, Orange County California.

Going from (annually) increase from $613 to $1,553

Conditions
-adding this as our 3rd vehicle, no financing
-Deductible $1,000
-Coverage: Property $50K, Body/medical $50/$100K
-No rental, no uninsured motorist, no uninsured deductible waiver
-estimated annual miles (5K)
-Combo discounts: Good driver, multi vehicle, multi policy, loyalty, Grp-deg prof, verified mileage

As that song goes, "You Better Shop Around!"

 

[Mika]

For me, Geico was the best deal, followed by progressive. I checked 5 or 6 insurers and the prices varied so widely it was hard to believe, most of them were terrible offers.

 

[israndy]

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

What am I doing wrong, when I tried to get a quote from InsureMyTesla, the list of cars I want to insure doesn't include Teslas

-Randy

 

[carbonx]

I also received the best quote from Geico.

Question though... will Geico cover the full value of my Model 3 LR in the event of a total loss?

They only the Model 3 to select from and does not specify between SR and LR. I received a quote from State Farm for 60K coverage on a new car since Model 3 is not in their system for almost 50% more.

 

[WileyTheMan]

I hope Liberty Mutual treats me well. We have two cars and a house with them.

 

[9erDog]

What am I doing wrong, when I tried to get a quote from InsureMyTesla, the list of cars I want to insure doesn't include Teslas

-Randy

Try using 2017 as the model year.

 

[rfmurphy81]

Liberty Mutual via InsureMyTesla definitely is not affordable. Even increasing my deductibles well above my current ones, the price was double what I'm paying now with State Farm (which is getting too pricey for my blood as it is).

 

[rxlawdude]

Liberty Mutual via InsureMyTesla definitely is not affordable. Even increasing my deductibles well above my current ones, the price was double what I'm paying now with State Farm (which is getting too pricey for my blood as it is).

Concur about Liberty. A total joke in SoCal with not even close to competitive rates. So far that they might as well be at the Statue of Liberty.

 

[Mayo]

Shop around for insurance. Insurance companies would like you to be loyal to them but when it comes to them, they will keep increasing your premiums knowing that we are usually to busy to shop around and most likely just keep paying the higher premiums. I had been with AAA and noticed every year my premuims kept creeping up with no change in my driving habits or vehicle. When I went to them to insure my 2016 Model S they wanted to charge me $1,500.00 increase above the premuim of a 2015 Toyota Highlander which I was trading in to Tesla. ($2,700.00 year total) Just for a Tesla Model S with no accidents or even a parking ticket on my record and 15 years of customer loyalty. Well I did some shopping and eventually was insured by KEMPER Independance Insurance Company Jacksonville FL for $1,200 yearly policy. BIG DIFFERENCE AAA does not like to insure TESLA's SHOP PEOPLE....

 

[azred]

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...

Oddly, my insurance with 2016 S and 2018 3 (3 replaced 2015 Civic hybrid) didn’t go up a bunch. It is about $1300 annually in Metro Phoenix, but I wonder if renewal this Summer will jump as they have a little more experience with the 3. I have Ameriprise through Costco. (I just noticed rxlawdude in CA with comparable Ameriprise rates.)

 

[azred]

Shop around for insurance. Insurance companies would like you to be loyal to them but when it comes to them, they will keep increasing your premiums knowing that we are usually to busy to shop around and most likely just keep paying the higher premiums. I had been with AAA and noticed every year my premuims kept creeping up with no change in my driving habits or vehicle. When I went to them to insure my 2016 Model S they wanted to charge me $1,500.00 increase above the premuim of a 2015 Toyota Highlander which I was trading in to Tesla. ($2,700.00 year total) Just for a Tesla Model S with no accidents or even a parking ticket on my record and 15 years of customer loyalty. Well I did some shopping and eventually was insured by KEMPER Independance Insurance Company Jacksonville FL for $1,200 yearly policy. BIG DIFFERENCE AAA does not like to insure TESLA's SHOP PEOPLE....

Good advice and remember that increases or decreases in rates aren’t just based on your driving. They are also based on the company’s experience regionally and perhaps even nationally.

 

[Shoal007]

I shopped around as my premium went from 1200/yr to 2500/yr on liberty mutual in MN, lowest I found was progressive with a rate of 1200/yr for all 3 vehicles. 250/500/100. 500 deductible.

 

[Qbenjamin]

My policy actually dropped by $1.34 per six months (around $100 per month for current vehicle).

 

[carl_o]

I just insured my new Tesla Model 3 with GEICO. I live in rural North Florida, so my rates may be lower than city dwellers.

Vehicle total 6 month premium: $677.00

2018 TESLA MODEL 3

Comprehensive
$68.50
Deductible: $100
Pays for vehicle and glass damage due to, among other causes, theft, vandalism, explosion and fire.

Collision
$302.30
Deductible: $250
Pays for damages to your vehicle caused by a collision or when it overturns.

Emergency Road Service
$2.20
Carried
Covers towing, labor for flat tires, jump starts, and more. Get help 24/7 on the GEICO Mobile app.

Rental Reimbursement
$14.40
$50/Day, $1,500Max
Pays toward expenses for a rental car while repairs are being completed as a result of a covered loss.

Mechanical Breakdown Insurance
$29.30
Deductible: $250
Covers auto repairs due to a mechanical failure.

 

[preilly44]

I know this is an older thread but I thought I could add some info.

I just traded in my 2017 3LR for a 2018 3P+ and my insurance dropped $30 for the 6 month term. I was expecting the opposite.

MD Progressive