Model S Insurance in Canada

[Mr. Bigby]

Did the Tesla replace your BMW 335d? That was my previous car, I sold it to my dad.

The BMW will be replaced by the Tesla in two weeks. :biggrin:

 

[kizagjo]

My Delivery Date is mid April, and here's my data for insurance companies and prices:

I'm in the Markham area, and apparently the area you live in, affects your insurance rates..
All numbers are approximate, and I've called them between Jan and Mar of 2014.
I hope this data is useful to some people here.


Belaire ~2000-2250
Desjardin ~ $2200
Johnson Insurance ~$2600
RBC ~$2200
Statefarm ~$2500
TD ~$2000

I have some other quotes, but those include my other car and or house discounts.

 

[pairtrader]

Yes i realize they can still steal a model s and put it in a container and take it somewhere but then what? Use the car independently of any service or update etc? It's not like it's a gm ice car that can be serviced by any local garage. The second something goes down they would be pretty screwed. I'm just saying it probably makes it less prone to theft than perhaps a Toyota.

When I was first inquiring about buying a MS, I asked the rep how it could be stolen and he had a hard time coming up with an effective method. I think they would have to load it onto a flatbed to even get it to a container. Not likely! He said the one recent theft he heard about was an owner who left the key in the car. I'd be curious to know if the car was recovered quickly.

 

[Ugliest1]

... He said the one recent theft he heard about was an owner who left the key in the car. I'd be curious to know if the car was recovered quickly.

Yes it was, that thread is here: Model S gestolen Have fun with lots of Google Translate!!

 

[Piggy_Medic]

Car Insurance for a Tesla?

I have been curious about this topic and haven't found a thread in this forum that specifically speaks to this issue.

Can anyone tell me whether the cost of vehicle insurance for a Tesla is higher or lower than for a gas-fuelled vehicle? If anyone can speak specifically to the Province of British Columbia, that would be even more helpful.

If it is higher / lower - can you explain why?

Thanks!

 

[Zythryn]

I have been curious about this topic and haven't found a thread in this forum that specifically speaks to this issue.

Can anyone tell me whether the cost of vehicle insurance for a Tesla is higher or lower than for a gas-fuelled vehicle? If anyone can speak specifically to the Province of British Columbia, that would be even more helpful.

If it is higher / lower - can you explain why?

Thanks!

In general insurance costs vary depending on many different factors. Some of the factors I have been told are:

What zip code?
Is the car parked in a garage, off-street or on-street parking?
How popular is it to be stolen?
Cost to repair?
How likely is personal injury/safety ratings?
Does the customer have other policies?

I doubt being electric vs gas plays much of a role directly. Ask your agent to compare a Leaf and Versa.

 

[Doug_G]

It cost me about the same to insure my Model S as for my previous Infiniti G37.

Also merged this with the existing thread on Model S Insurance in Canada. -mod

 

[kizagjo]

Just an update to my question earlier.

I got a great quote from Allstate
a 2007 Mazda 3 - $1300
1999 Camry (which is being sold) - $1300
Tesla - $1500 <-!! cheapest I've found from calling around all month!

for all vehicles:
$500 deductible, rental coverage, claim forgiveness, etc.

I'm in the Markham area. Hope this helps.

 

[Ugliest1]

...Can anyone tell me whether the cost of vehicle insurance for a Tesla is higher or lower than for a gas-fuelled vehicle? If anyone can speak specifically to the Province of British Columbia, that would be even more helpful. If it is higher / lower - can you explain why?

In Jan 2014 my now sold 2007 Infiniti M35 was costing me about $1,100/year; the insurance on my Model S was $2,300. I have found it better for my blood pressure if I don't ask questions like "why" for various rates.

 

[Morristhecat]

I have been curious about this topic and haven't found a thread in this forum that specifically speaks to this issue.

Can anyone tell me whether the cost of vehicle insurance for a Tesla is higher or lower than for a gas-fuelled vehicle? If anyone can speak specifically to the Province of British Columbia, that would be even more helpful.

If it is higher / lower - can you explain why?

Thanks!

You may be interested in this thread:

Insurance in BC

 

[e4chan]

I have TD and your quote seems high. Not sure your age as well.

I am paying ~$1200 a year for the Tesla Model S. And $1300 for the Porsche Cayenne S. Also with House discounts. Live in Markham area as well.

My Delivery Date is mid April, and here's my data for insurance companies and prices:

I'm in the Markham area, and apparently the area you live in, affects your insurance rates..
All numbers are approximate, and I've called them between Jan and Mar of 2014.
I hope this data is useful to some people here.


Belaire ~2000-2250
Desjardin ~ $2200
Johnson Insurance ~$2600
RBC ~$2200
Statefarm ~$2500
TD ~$2000

I have some other quotes, but those include my other car and or house discounts.

 

[kizagjo]

I have TD and your quote seems high. Not sure your age as well.

I am paying ~$1200 a year for the Tesla Model S. And $1300 for the Porsche Cayenne S. Also with House discounts. Live in Markham area as well.

I'm 32. turns out because i was out of country for a few years, that my insurance history dropped to 0.

 

[mknox]

I'm 32. turns out because i was out of country for a few years, that my insurance history dropped to 0.

A buddy of mine drove company cars for years. He had a perfect driving record, but because he personally didn't have car insurance in his own name for several years, they dinged him quite severely. Seems unfair.

 

[techMology]

Just received my final rate today. $1548/year in Toronto (Beach). About $40/year less than my BMW, but my deductible doubled. I'm 39.

 

[Canuck]

$2600 with ICBC ($3200 with replacement cost option) $3M liability. 48 years old and "roadstar discount" which is the highest safe driving discount. Yes, we get ripped off in BC with compulsory public auto liability insurance. It makes absolutely no sense to have the government in the insurance business. Education and health care... yes. Insurance. .. NO!

 

[gpetti]

A buddy of mine drove company cars for years. He had a perfect driving record, but because he personally didn't have car insurance in his own name for several years, they dinged him quite severely. Seems unfair.

I had a similar problem Despite driving in Calgary from 1976 until 1993 with a reasonably good record, after living in the UK from 1993 until 2003, despite managing to get my Alberta license back (can't remember how but I had some hassles with that too), I was put on the same rate as a 16 year old beginner male driver, which in 2003 was insanely expensive (Alberta insurance rates were pretty bad back then even for low risk drivers). Fortunately after a year I changed agents and found someone who was willing to lobby insurance companies to find one that would be more reasonable.

 

[Ugliest1]

Canuck mine was slightly cheaper than yours because of the postal code difference, fewer accidents in greater Victoria than greater Vancouver. Or at least that's the story they tell you. They have it down to ridiculous levels - when I moved into a condo in downtown Victoria that was only 1km difference, my ICE insurance went up $100. At least the moving truck was quite cheap!!

 

[pairtrader]

$2600 with ICBC ($3200 with replacement cost option) $3M liability. 48 years old and "roadstar discount" which is the highest safe driving discount. Yes, we get ripped off in BC with compulsory public auto liability insurance. It makes absolutely no sense to have the government in the insurance business. Education and health care... yes. Insurance. .. NO!

I got an ICBC quote of $2142, so hopefully I can replicate that when I pick up my car next week. 3M liability. Increasing the collision deductible to $500 made a difference. -43% and roadstar gold. I'm only 33 y/o so I imagine anyone older than me with a clean record can match this. I'll update when it actually goes through.

 

[Trev Page]

$2600 with ICBC ($3200 with replacement cost option) $3M liability. 48 years old and "roadstar discount" which is the highest safe driving discount. Yes, we get ripped off in BC with compulsory public auto liability insurance. It makes absolutely no sense to have the government in the insurance business. Education and health care... yes. Insurance. .. NO!

I don't know. I my opinion is that if governments mandate that insurance is required by LAW they shouldn't let insurance companies who are working for PROFIT handle the whole thing. It would be better to have a money pool that everyone pays into to fund claims and they should also abolish driver profiling to set rates. Sounds communist doesn't it?

- - - Updated - - -

For those of you still shopping for insurance I can tell you that I sent a friend of mine who is also getting a signature S next week to Belair. He has his home and other cars with another insurance but Belair had no issue quoting him for the model S only with the same $500 deductible as me. If your insurance is quoting you high deductibles or no replacement value or tracking device requirements or anything over $1000 give Belair a call (ps. I have zero shares or stake in Belair....just trying to help)

+1 for Belair. I'm with them for my home and car they have always given me the best rates compared to everyone else.

 

[visagrunt]

Got a quote of $812 from Canadian direct for $3M excess liability, comprehensive, collision, replacement value endorsement and loss of use. This compares with $1997 for the same additional insurance through ICBC. Total premium will drop from $3021 with ICBC to $1836.70.