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Model S Insurance in Canada

mknox

Well-Known Member
Aug 7, 2012
10,103
1,894
Toronto, ON
I also have RBC. Their office at Aurora Rd. and 404 was very helpful.

I think I was their first Model S customer. They had no idea what it was, had no listing and could only give me some sort of initial estimate based on the value of the car. They were very helpful and understanding, though and quickly followed up for me. I think it had something to do with RBC getting re-insurance or some such thing. In any event, once they got it listed on their system and properly priced out for me, all was good.
 
Well, yeah, they're a bit scattered. They insured my Roadster no problem, no forced extra deductible, nada. When I insured the Model S they required the $5000 deductible "because of its value". Uh, yeah, you already insured my other Tesla without that... whatever.

I am with Meloche and the deductible was quoted as $5000 but I managed to change that to a more reasonable rate for a slight premium increase.

I am paying less than I did for my 2007 Infiniti.
 

Jaff

Active Member
Aug 15, 2010
3,135
326
Grimsby, Canada
I am with Intact...paying less than you though as my territory has lower base rates.

Telematics, or "usage based insurance" potentially lowers base rates by up to 25%...unfortunately, the telematics reporting devices won't (currently) work in any of the Tesla vehicles.

JA, make sure you have your property insurance with Intact as well to get the "my home and auto" discounts.

Intact has very innovate products...you can buy waiver of depreciation coverage for 4 years...many companies only offer 24 or 30 months...they also offer the "Lifestyle Advantage" for your property coverage which is one of the best in the market for broadcasts settlement...

I'm paying $3200 a year for my car insurance. Ridiculous by your numbers.
I haven't even had a speeding ticket in over a year ever since i bought the car.
Any suggestions as to a good Insurance company? Mine goes through Intact.
 

beeeerock

Active Member
Mar 12, 2015
1,515
435
Kamloops BC Canada
I know of quite a few Vancouver Tesla owners (myself included) that had a seamless process with CDI. Perhaps you had a bad apple who did something really wrong that caused a snare.
Perhaps. They were good enough to speak with and I liked the representatives... they just let my quote fall through the cracks and managed to forget to tell me more information was necessary! Hewie on this forum also has a story about them... in his case, he was transferring the CDI insurance from his TT to the new Model S as he traded it. They couldn't sort it out and he ended up buying full ICBC just to get home... and worked it out later. I guess everyone has a different experience.
 
I'm not sure I would use the term' slimy", and I think a good deal of what you are describing as "unprofessional conduct" is related to the fact that the Model S (and the Roadster) are still largely misunderstood by the insurance industry (in Ontario).

With all due respect. This has zero to do with the Model S. It is their deliberate & intentional procedures, sales pitches, loopholes and escape clauses which the maintain and use on their customers and potential customers.

i do not trust them with my insurance policy. Only as a last resort would I insure my vehicles with this unreliable group. Good luck to those who may actually experience a claim....they will experience the luck of the draw rather than piece of mind.

i wholeheartedly maintain the words SLIMY and BOILERROOM UNPROFESSIONAL TYPE SERVICE in describing them. Fellow insurance seekers need to be forewarned.

in the meantime, I have located a broker who has quoted several different companies close to or under $2,000 with $1,000 deductible. Keeping my fingers crossed.
 

iKhalid

Member
Feb 18, 2014
775
97
Ottawa, ON
Curious about these high deductibles some are being forced to take. I had no issue at all carrying over the $300 I had before, and my rate was even a bit lower than my last ICE.
According to 5 different insurance companies, once a car exceeds 80k or 90k in value, the deductibles start from $2000, and sometimes becomes a percentage of the purchase price. The agent might fail to ask you how much you paid for your car, but then the underwriter wouldn't let it go.

In your case, the car was new and not many people knew about it, so maybe they didn't expect it to be that expensive and it's too late to change that when the policy was renewed. Or maybe with the early cars, you could buy an S85 for less than 90k?
 

Doug_G

Lead Moderator
Global Moderator
Apr 2, 2010
17,884
3,394
Ottawa, Canada
Curious about these high deductibles some are being forced to take. I had no issue at all carrying over the $300 I had before, and my rate was even a bit lower than my last ICE.

I dunno. When I got the Roadster there was nary a mention of it. When I got the Model S they insisted on $5000 deductible. Mine was literally the first one delivered (by about 15 minutes) so this policy was in place before the Model S hit the road.
 

beeeerock

Active Member
Mar 12, 2015
1,515
435
Kamloops BC Canada
Curious about these high deductibles some are being forced to take. I had no issue at all carrying over the $300 I had before, and my rate was even a bit lower than my last ICE.
I bumped *up* to $500, so CDI actually offered a lower collision deductible, which seems to be a stark contrast to other carriers. Some of the numbers mentioned do seem extremely high. I used to opt up to $1,000 because I figured if I was the one to blame, I deserved to pay the price. The annual savings made up for the extra deductible cost after only a few short years, so it actually made sense... until one day I was hit in the parking lot while in a store. They called it 'hit and run' and my collision deductible was applied. So I adjusted my method to go halfway instead...!

My rate for the Model S is very close to what I was paying for my '09 E-320, so I have no complaints with the pricing. Hopefully I won't ever have to find out how onerous making a claim might actually be...
 

Jaff

Active Member
Aug 15, 2010
3,135
326
Grimsby, Canada
You could simply not possibly be more incorrect. If your generalizations of TD MM were correct, they would not be in business in Ontario...both the regulators and the marketplace would have seen to their demise years ago.

The insurance industry in Ontario is heavily governed and monitored for fitness, both fiscally and procedurally by FSCO...is the system perfect? Of course not... no product or service industry is.

Your broker, who has secured "several different quotes" is simply doing his / her job...this is what brokers do on your behalf...they sort through all of the different companies underwriting rules and rates to try to come out with a plan which provides the best coverage at a fair price...when you deal with a direct writer, you are at the mercy of the sales rep...obviously, TD MM still have some work to do in educating their sales force on their insurance programs with respect to the Model S.

TD MM's sales continuity problems are due to both their unfamiliarity with the Model S, and their management's mishandling of providing clear underwriting guidelines for this vehicle to their staff...TD MM are not the only insurance company who has struggled with program continuity with respect to the Model S...many have, you just don't see it due to the small sample size here on this forum, and the fact that the broker has spared you seeing all of the Model S "quoting problems" that existed in the marketplace since Tesla started delivering this car.

The marketplace, with respect to the Model S, is much better today than in 2012, but some insurers are still experiencing problems.




With all due respect. This has zero to do with the Model S. It is their deliberate & intentional procedures, sales pitches, loopholes and escape clauses which the maintain and use on their customers and potential customers.

i do not trust them with my insurance policy. Only as a last resort would I insure my vehicles with this unreliable group. Good luck to those who may actually experience a claim....they will experience the luck of the draw rather than piece of mind.

i wholeheartedly maintain the words SLIMY and BOILERROOM UNPROFESSIONAL TYPE SERVICE in describing them. Fellow insurance seekers need to be forewarned.

in the meantime, I have located a broker who has quoted several different companies close to or under $2,000 with $1,000 deductible. Keeping my fingers crossed.
 
Anyone have insurance recommends for the GTA??? This is becoming a huge waste of our valuable time. So frustrating. Someone recommended Jason Legge Agency....they quoted $4500+ said because I was in GTA.

That's bizarre, I know I'm on the outskirts, but still considered Milton which is GTA, and my cost on the Model S is around $1200/year with standard $300/$500 deductibles for comp and collision, that's through the Cooperators via Jason Legge Agency. Now the only added thing is my house and other vehicles are also with them, but I think that only amounts to 20% discount, far cry from $4500.
 

mknox

Well-Known Member
Aug 7, 2012
10,103
1,894
Toronto, ON
According to 5 different insurance companies, once a car exceeds 80k or 90k in value, the deductibles start from $2000, and sometimes becomes a percentage of the purchase price. The agent might fail to ask you how much you paid for your car, but then the underwriter wouldn't let it go.

Interesting. I didn't give it a second thought because I simply asked them to "transfer" my old car's coverage and limits over to the Tesla... and they did. My second year renewal actually even came in with a slightly lower premium.

- - - Updated - - -

I dunno. When I got the Roadster there was nary a mention of it. When I got the Model S they insisted on $5000 deductible. Mine was literally the first one delivered (by about 15 minutes) so this policy was in place before the Model S hit the road.

And correct me if I'm wrong, but the Roadster was a more expensive car than the Model S, is it not?
 

mknox

Well-Known Member
Aug 7, 2012
10,103
1,894
Toronto, ON
Not all of them Mike...The Roadster started at $120,000 CAD...

Fair enough. But wouldn't that been high enough to trigger the high deductible limits that @iKhalid and others presumed were driven by the car's value? Didn't seem to affect @Doug_G's Roadster, but did with his Model S.

Also curious to know why RBC required a $7,200 deductible of @mrElbe but not of me??? We're both GTA-ish. I realize there are likely numerous little differences that affect our policies, but it sure seems like a wide gap.
 

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