Model S Insurance

[swegman]

Jcadman22, was the quote for a regular production or a performance. Leaning towards finalizing with the performance model. Thanks. One thing that will hurt my rate is I have a 17 year old son that just got his license in August, and they told me he can not be excluded from a policy on the car as long as he lives at home (in August he will leave for college).

What VIN did you use to get a quote?

 

[FalconNinetyD]

That seems odd. So if you had a Bugatti, your insurance would be sky high since they assume a 17yo would be driving a 1000 horsepower sports car, even if you bought him a '95 Camry?

Sounds like you need to get competitive quotes...

 

[swegman]

i've been told by several insurance people that Maryland law requires that my son be covered for every car in the household as long as he lives at home; that he can not be excluded on the car. For a frame of reference, when he was added to the policy, the insurance rate went up $2,000 for the year. I complained about that, until friends told me their insurance went up even more when their son or daughter got their license. Adding him more than doubled the cost for insurance for 3 cars.

 

[jcadman22]

Jcadman22, was the quote for a regular production or a performance. Leaning towards finalizing with the performance model. Thanks. One thing that will hurt my rate is I have a 17 year old son that just got his license in August, and they told me he can not be excluded from a policy on the car as long as he lives at home (in August he will leave for college).

What VIN did you use to get a quote?

I used a VIN from the first 60kWh thread since that's what I'll be getting. FWIW, there's a cross-link to the Decoding Model S VINs thread which I followed in my attempt to generate my own unique VIN - because, well, it felt wrong using someone else's actual VIN. But, as stated previously, a real VIN is what is needed for a quote.

 

[carrerascott]

Just got an online quote on USAA, for MSRP $102k 2012 Model S (they don't show it under 2013 yet), and its at $1038/yr. Not too bad.

 

[Vexar]

IDS Property Casualty is quoting me $330 every six months for my 60kWh Model S (MSRP of $70,500) with a $500 deductible and 10k miles of driving per year (no commute driving). That's its sub-total on a two-car, two-driver policy that also carries my homeowner's insurance. I started quoting this thread so the gal on the phone would get a sense of what's going on with prices. I said it was competitive enough but that I expected it would go down later as their company learned more about it. The gal said it wasn't in their system yet so she did a manual entry. IDS Property Casualty is the premier insurance for Costo members. Progressive is the second tier. They basically went off the value of the car and the parameters I listed here. Like other folks, the word "Tesla" was confusing. The model "S" was confusing. The reaction of the gal when she went to the Tesla website was "wow."
You can put a price on the insurance, but you can't put a price on the reaction. When we were all done with quotes and payments, I said "oh, in a couple years, they are releasing a near $30,000 car. Might be worth a look."

 

[swegman]

I finally got a quote from Amica for $2200/year. That is for $500K coverage with a $250 deductable on collison if it is not my fault and $500 deductable if it is my fault. When I asked why so high, I was told because I have a 17 year old son that just got his license 5 months ago living in the household and he can not be excluded. BTW, when asking for quotes, make sure it is for a year. Amica initially quoted me about $1700, and when i started asking questions, I discovered it was not for a year, but for the remainder of my current policy term.

 

[rzia]

I was quoted a ridiculous amount by Farmers insurance. They said $2400 for every 6 months! He agent said a VIN number may make a difference in the quote? Anyone here use Farmers?

 

[gmontem]

I was quoted a ridiculous amount by Farmers insurance. They said $2400 for every 6 months! He agent said a VIN number may make a difference in the quote? Anyone here use Farmers?

My premium is under $650 for 6 months with Farmers.

 

[Bucket22]

I was quoted a ridiculous amount by Farmers insurance. They said $2400 for every 6 months! He agent said a VIN number may make a difference in the quote? Anyone here use Farmers?

I added my new Performance Model S to my existing multi-car policy with Farmers (without removing a vehicle) and the premium increased by $332 per 6 months.

 

[tdiggity]

Allstate updated their system with the Model S. Although, you have to select 2012. I've been with them for years, and their quote was $850/year, lowest I've been able to get.

 

[pete8314]

Allstate updated their system with the Model S. Although, you have to select 2012. I've been with them for years, and their quote was $850/year, lowest I've been able to get.

Not made it to Esurance yet...hopefully it will within a few days, otherwise I'll be switching again

 

[kevincwelch]

Here are the results of my phone calls and on-line applications. I currently have Farmer's. Not sure why it is so much more, but it's ridiculous.

Male 39y/o; clean record; Chicago burbs
Wife 39y/o; clean record
Homeowner

	Farmers	USAA	State Farm	Progressive	Geico	21 Century	Allstate
Bodily Injury	250/500	300/500	100/300	100/300	300/300	250/500	100/300
Property Damage	100	100	300	100	100	100	50
Uninsured Motorist	250/500	300/500	100/300	100/300	300/300	250/500	100/300
Underinsured Motorist	250/500	300/500	100/300	100/300	300/300	250/500	100/300
Medical Coverage	5000	25000	10000	5000	5000	5000	5000
Comprehensive	500	500	500	500	500	500	500
Collision	500	500	500	500	500	500	500
Roadside	Y	Y	Y	Y	Y	Y
Rental Reimbursement		30/900	50/1200	30/900	50/1500		30
Accident forgiveness		Y					Y
Cost	1898.80/6	642.67/6	733.82/6	573.00/6	387.72/6	"We don't write it"	798/6

In case the formatting is screwy for you Tapatalk people ...

 

[pbrulott]

Thanks for the info. Huge variability, that is what I noticed in Canada as well

 

[zdre]

I'm 28y/o homeowner with 28y/o wife in St. Louis County and the cheapest quote by far for 100/300/100 with 500 deductible was also from Geico at $440/6mos. I do have one minor accident on record in the last 3 years. Adding our Golf TDI to this Geico quote only adds another $100/6mos, so the total increase from switching our other car to the Model S should be minimal.

 

[neroden]

He agent said a VIN number may make a difference in the quote?

I was told by two different insurance agents that they can't get really accurate quotes without a VIN number, and that they definitely can't issue a policy without a VIN number.

It gets more interesting. Apparently if the car (make/model/year) is not in the insurer's system, they will still insure it "by value", but that's usually more expensive than if the car is listed.

And then she tried to explain the different parts of car insurance in my state (collison/comprehensive/liability/no-fault/etc.) and I got completely lost. Homeowner's insurance is so much simpler.

 

[blc1017]

tdiggity, do you have other types of insurance with them, or just auto? Thanks,

 

[Plug Me In]

Thought I would contribute what I've learned. I'm going with Progressive vs USAA. I had to call USAA since they don't have the car in their database yet. I don't have a VIN yet. 44 y/o, wife 44 y/o clean record, Virginia. My coverage amounts are lower than Kevin Welch's. 100K/300K $500 deductible, rental and towing covered. I also have a 2012 Prius Plug In Advanced bought for about $39K that is included on the policy since multi car discount brings price down bit.

Progressive - $443 Tesla, $425 Prius - Total - $762 for 6 months
USAA - Tesla + Prius total $734 for 6 months.

USAA said price may change when VIN is submitted. My Model S is standard blue 85 with air and tech. $84 K cost

 

[sp4rk]

I got this quote from American Family ...

About $ 626 for 6 months compared to your current vehicle (Leaf) that is $ 400 for 6 months.

Looks like i'll be finally adding a pet Gecko, excuse me, Geico, soon.

 

[ElSupreme]

Thought I would contribute what I've learned. I'm going with Progressive vs USAA. I had to call USAA since they don't have the car in their database yet. I don't have a VIN yet. 44 y/o, wife 44 y/o clean record, Virginia. My coverage amounts are lower than Kevin Welch's. 100K/300K $500 deductible, rental and towing covered. I also have a 2012 Prius Plug In Advanced bought for about $39K that is included on the policy since multi car discount brings price down bit.

Progressive - $443 Tesla, $425 Prius - Total - $762 for 6 months
USAA - Tesla + Prius total $734 for 6 months.

USAA said price may change when VIN is submitted. My Model S is standard blue 85 with air and tech. $84 K cost

Don't forget that USAA will give you part of their car insurance profits at the end of 6 months also. So while it looks the same you might be missing out on a rebate after 6 months.

- - - Updated - - -


Plus dealing with USAA is way better than any bank or insurance company I have ever dealt with. Other than their requirement to fax them stuff. They won't take PDF emails.