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Model 3 insurance

Discussion in 'Model 3' started by Leng Y, May 15, 2019.

  1. Leng Y

    Leng Y New Member

    Joined:
    May 1, 2019
    Messages:
    1
    Location:
    Oakland, California
    Recently, I bought Model 3 and found out that its auto insurance is very expensive, much more higher than that of my Lexus RX450h. The increase of insurance totally wipes out the saving from gas bills! Does anyone know why?
     
  2. jakebake

    jakebake Member

    Joined:
    Dec 12, 2018
    Messages:
    30
    Location:
    arizona
    I just made a thread on this but haven't purchased yet. Others are getting some pretty low insurance rates but I was quoted very high. Have you looked at different companies? I'm hoping I can find something as it will keep me from purchasing the car as I don't want to spend that much in insurance.
     
  3. JFChenger

    JFChenger Member

    Joined:
    Apr 14, 2019
    Messages:
    78
    Location:
    Windy City
  4. woodisgood

    woodisgood It's walnut, beech

    Joined:
    Jul 26, 2018
    Messages:
    641
    Location:
    San Francisco
    If you have an at-fault or bodily injury on your record, premium will be sky high compared to other vehicles.

    If completely clean record, can expect not much more than other similarly priced cars, though slowly this appears to be changing.
     
  5. garth_angst

    garth_angst Member

    Joined:
    Mar 30, 2019
    Messages:
    78
    Location:
    long island
    I have Allstate, no accidents or tickets in last 5 years. Got a rate of about $500 for 6 months. Standard coverages.
    My discounts include multi-car (Toyota RAV 4), multi-policy (have home owners insurance with them), defensive driving, auto pay.
    I am in NY.
     
  6. zhu-

    zhu- Member

    Joined:
    Oct 24, 2018
    Messages:
    512
    Location:
    NJ
    Geico here and I pay $450 for 6mo. The same coverage on my previous 2016 C300 was $650 for 6mo so quite a bit cheaper. My first 6 months was actually around $510 but on the renewal they lowered to $450 for some reason. I also had quotes for over $1k on the same coverage with other insurers so definitely shop around.
     
  7. TiggerTime

    TiggerTime Member

    Joined:
    Feb 12, 2019
    Messages:
    179
    Location:
    Gainesville
    State Farm in Florida $590 / 6mo on my Tesla Model 3 previously $530/6mo on my Honda Civic si .
     
  8. mswlogo

    mswlogo Active Member

    Joined:
    Aug 27, 2018
    Messages:
    2,113
    Location:
    MA
    I had the same panic the day before delivery. After shopping around we found Progressive to be most affordable, almost the same as the cheaper older car we replaced. Some are wildly high like MetLife.

    Still concerns me a bit that it might go up in the future. Especially with AP, how easy it is to get totaled and 0-60 in 3.2 seconds. Lots of the “sports cars” are outrageously high to insure.
     
  9. JBT66

    JBT66 Member

    Joined:
    Oct 26, 2018
    Messages:
    113
    Location:
    Arizona
    $455 for the Tesla for 6 months through Ameriprise. Also insure a 2018 Ford Explorer for $388. $500 deductible and $30 rental reimbursement included.
    LR AWD.
     
    • Like x 1
  10. mcars

    mcars Member

    Joined:
    May 5, 2019
    Messages:
    10
    Location:
    United States
    I'm glad I found this thread. My Allstate rep is attempting to charge me $750 every 6 months for the car, which is $300 more than my Acura. Doing this under the guise of "Limited repair centers" and giving me more value for my car in case of an accident. Needless to say it's time to shop around

    And I have 0 accidents on my record, multi car and home coverage. This is in Chicago.
     
  11. thefitter

    thefitter Member

    Joined:
    May 6, 2019
    Messages:
    9
    Location:
    Bay Area, CA
    Try AAA. My deductibles are the lowest you can have 50/250, and my liability/property damage coverage is doubled.
    $800 a year. Lower than the BMW.
     
  12. srs5694

    srs5694 Member

    Joined:
    Jan 15, 2019
    Messages:
    342
    Location:
    Woonsocket, RI
    There are numerous threads on this topic on this forum already. Comparing what you pay to what others pay is pointless, since there are too many variables in play. What you need to do, as others have said already, is to shop around. Progressive and (IIRC) State Farm frequently come out with low rates for Teslas, so start there. Geico seems to be hit-or-miss. Tesla itself has announced it will be offering an insurance product, apparently in partnership with an established carrier, but I don't know when this will be available.
     
    • Like x 2
  13. SigNC

    SigNC Member

    Joined:
    Aug 23, 2017
    Messages:
    714
    Location:
    NC
    metlife and it's no different than my previous cars.
     
  14. CravenRx

    CravenRx Member

    Joined:
    Apr 10, 2019
    Messages:
    31
    Location:
    Tn
    I was worried after all the horror stories I read about online. But I have State Farm and I think my rate went up $15/6mo over my Audi I traded in. I’m going to reduce my deductible for glass damage soon but they said it would cost maybe $10 more a month after that.
     
  15. tashtibet

    tashtibet Member

    Joined:
    Jul 30, 2016
    Messages:
    184
    Location:
    fort collins, colorado
    my previous insurance was Allstate and they even don't know anything about Tesla last year. I shopped and decided on Amica and pay $60/month for comprehensive.
     
  16. Trips

    Trips "Boring bonehead questions are not cool. Next?"

    Joined:
    Sep 22, 2015
    Messages:
    1,027
    Location:
    Omaha, NE
    So I was one of the people that State Farm raised my rate by about 20%. I have their Drive Safe & Save tracking app and here are my last 20 trips that were over 2 miles. I have not had a ticket or wreck in 20 years and was taking it easy on these trips. Out of 20 trips I only got a 5 star on Acceleration twice.

    Based on 1 to 5 stars.
    Acceleration: 2.21
    Braking: 4.26
    Cornering: 4.05
    Speeding: 4.58
    Phone: 4.84

    Trips.png
     
  17. devilmountain

    devilmountain Member

    Joined:
    Jan 31, 2018
    Messages:
    236
    Location:
    Walnut Creek
    Insurance is also based on how many miles you drive. I pay about 2k a year for two Model 3s per year with AAA in central Contra Costa County. Both have high limits, low deductible, and free replacement glass. I also have homeowners with AAA insurance. This is for driving about 10k a year on each car. I garage all three of my cars and live in a semi rural part of town.
     
  18. MountainJedi

    MountainJedi Member

    Joined:
    May 15, 2019
    Messages:
    6
    Location:
    Colorado
    State Farm in Colorado quoted me $88/month yesterday which is cheaper than my F150 with them.
     
  19. hcook24

    hcook24 Member

    Joined:
    Apr 1, 2019
    Messages:
    15
    Location:
    Orange County, CA
    I ended up going through my guy at a local credit union called Kinecta. I worked with a guy named Hassan and he was able to have their insurance department run my info thru multiple carriers. They even do homeowner's/renter's insurance. He did mention they can only do policies in CA, CO, OR, WA, NV, and TX. But if you're interested, shoot him an email! [email protected]
     
    • Funny x 1
  20. Atari2600

    Atari2600 Member

    Joined:
    Oct 4, 2017
    Messages:
    406
    Location:
    Cincinnati
    State farm with home and multi car discounts and they raised my rate to $560.76 every 6 months.
    Posting insurance costs without coverage details is pointless so here is mine.

    Liability Coverage

    • Bodily Injury Limits
    • Each Person, Each Accident
    • $100,000 $300,000
    • Property Damage Limit
    • Each Accident
    • $100,000

    • $121.68 / 6 mos

    Medical Payments Coverage

    • Limit - Each Person
    • $100,000

    • $35.55 / 6 mos

    Comprehensive Coverage

    • $98.25 / 6 mos

    Collision Coverage - $100 Deductible

    • $284.37 / 6 mos

    Emergency Road Service Coverage

    • $3.20 / 6 mos

    Car Rental and Travel Expenses Coverage

    • Limit - Car Rental Expense
    • Each Day, Each Loss
    • $25 $600

    • $10.01 / 6 mos

    Uninsured Motor Vehicle Coverage

    • Bodily Injury Limits
    • Each Person, Each Accident
    • $50,000 $100,000

    • $7.70 / 6 mos
     

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