Model S Insurance

[Suzieq]

... I'm going with Progressive vs USAA. ...
Progressive ....$762 for 6 months
USAA - ... total $734 for 6 months.

You going with Progressive vs USAA? Even though USAA is cheaper? I'm curious as to why... I have found over the years that the premium is not the only thing to look at. Some companies have easier claims experiences with fewer hassles, and some companies will use cheaper after market parts in repairs vs OEM parts. So check carefully before you pull the trigger. I have used USAA for over fifteen years now and have had nothing but positive experiences. Before that I had used Allstate, State Farm, and Geico, and left all three due to negative experiences. I have had no experience with Progressive.

 

[ElSupreme]

You going with Progressive vs USAA? Even though USAA is cheaper? I'm curious as to why... I have found over the years that the premium is not the only thing to look at. Some companies have easier claims experiences with fewer hassles, and some companies will use cheaper after market parts in repairs vs OEM parts. So check carefully before you pull the trigger. I have used USAA for over fifteen years now and have had nothing but positive experiences. Before that I had used Allstate, State Farm, and Geico, and left all three due to negative experiences. I have had no experience with Progressive.

+1 to this. I went progressive over GEICO but my 6mo premium difference was >$300. I would pay a premium for GEICO insurance. In fact I plan to re-shop them in 6mos when Progressive ups my rate.

 

[sp4rk]

Fwiw, back in 2000, I used Progressive to insure a high-end motorhome.

They were the worst experience for claims ever. Swore back then I'd never use them again.

 

[dsm363]

You going with Progressive vs USAA? Even though USAA is cheaper? I'm curious as to why... I have found over the years that the premium is not the only thing to look at. Some companies have easier claims experiences with fewer hassles, and some companies will use cheaper after market parts in repairs vs OEM parts. So check carefully before you pull the trigger. I have used USAA for over fifteen years now and have had nothing but positive experiences. Before that I had used Allstate, State Farm, and Geico, and left all three due to negative experiences. I have had no experience with Progressive.

I have only used USAA so can't compare them to anyone either but they have been excellent. If they are cheaper, I'd strongly consider them as well.

 

[StephenM]

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 just got a quote from Farmers yesterday for $674/6 months. We have a multi-car discount and many years with no claims. The agent had no idea what a Tesla was as it isn't in their database (so she said) and they put me on hold for several minutes researching before giving me this quote.

 

[antochat]

I've been with Allstate for years and they quoted me $2500 to ensure the model S. I switched all of my vehicles to Geico a couple of weeks ago and now I am paying 1/3 for all of them including the soon to arrive model S!

Huge thanks to everyone here who encouraged us to shop around!

 

[H2Onu]

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?

I just got a quote from Farmers yesterday for $674/6 months. We have a multi-car discount and many years with no claims. The agent had no idea what a Tesla was as it isn't in their database (so she said) and they put me on hold for several minutes researching before giving me this quote.

I am on Farmer's also. My premium for the Tesla is $605. Which is $113 LESS than our other car (Lexus GS350). This is with good driving/multi-car/homeowner discount. And there's also an alternative fuel discount. That's with $500 deductible for collision and comprehensive. Had not problem getting the insurance set up, agent had a number for me in less than 5 minutes.

 

[lolachampcar]

I'm collecting my car in a couple of days and wanted to survey the insurance lay of the land. I called Geico, Farmers, USAA and my current company Progressive. USAA left me on hold and I hung up. Both Farmers and Geico said "We do not insure the Tesla electric vehicle" and Progressive honored the quote they gave me four weeks ago. I thought the Geico and Farmers response strange given others experiences.

 

[dsm363]

I'm collecting my car in a couple of days and wanted to survey the insurance lay of the land. I called Geico, Farmers, USAA and my current company Progressive. USAA left me on hold and I hung up. Both Farmers and Geico said "We do not insure the Tesla electric vehicle" and Progressive honored the quote they gave me four weeks ago. I thought the Geico and Farmers response strange given others experiences.

USAA left you on hold? In the 10+ years I've used them I don't think I've ever been on hold for more than 5 min with them. Maybe your call got accidentally dropped or something. I'd try again and see how their prices compare although they usually are a little more expensive.

 

[ElSupreme]

I'm collecting my car in a couple of days and wanted to survey the insurance lay of the land. I called Geico, Farmers, USAA and my current company Progressive. USAA left me on hold and I hung up. Both Farmers and Geico said "We do not insure the Tesla electric vehicle" and Progressive honored the quote they gave me four weeks ago. I thought the Geico and Farmers response strange given others experiences.

USAA left you on hold? In the 10+ years I've used them I don't think I've ever been on hold for more than 5 min with them. Maybe your call got accidentally dropped or something. I'd try again and see how their prices compare although they usually are a little more expensive.

My experience with USAA is inline with dsm363. Nothing but good things, but never had car insurance with them. I have been banking with them for a while, and they were runners up in my insurance (went with Progressive, much less expensive) search, as well as my loan (went with my other bank, and mortgage provider) search.

I would give them a call (assuming you qualify for insurance, must be vet or family for insurance I think). If you search for #USAA versus any #[INSERT BANK/INSURANCE COMPANY NAME HERE] into Twitter. You get almost 100% glowing approval, versus almost 100% anger and rage. I do remember going through some hoops to get an insurance quote from USAA (Model S wasn't in their system, and I didn't have VIN at the time) but it came back about $200 more than Progressive, and about $50 cheaper than GEICO and State Farm. Everyone else was about double Progressive's quote. As for my loan. My local regional bank gets about 40% of my banking (USAA is the rest), and they have my mortgage. They were more than happy to loan me way more than I wanted (100% of the value of the car) and had the added benefit of being about 1.5 miles from my house. They also produced the same rate as USAA, then dropped it 0.1% to seal the deal.

EDIT: All insurance prices are /6mo and included my wife's Civic.

 

[jaanton]

My Roadster is insured through Farmers. No problem. When they type stuff into their computers they don't know Tesla has a four character code of TSLA and try TESL and don't find things. People say stupid things when their computer gives an answer they don't expect. Rather have you go away instead of figuring out what they've done wrong.
VIN number helps here. My first insurance agent couldn't find Tesla, but typing in the VIN decoded to Tesla (Or TSLA) and everything was fine.

 

[bluetinc]

It may be easier to try Geico's web site, which now has the S in all versions available to quote. I have Geico and have my S insured with them .

Peter

I'm collecting my car in a couple of days and wanted to survey the insurance lay of the land. I called Geico, Farmers, USAA and my current company Progressive. USAA left me on hold and I hung up. Both Farmers and Geico said "We do not insure the Tesla electric vehicle" and Progressive honored the quote they gave me four weeks ago. I thought the Geico and Farmers response strange given others experiences.

 

[Darmok]

I just signed up through Geico. They have all battery configurations and recognize the 2013 model, and the price was better than what I'm paying now (replacing a Lexus RX330). I also tried the insurance guy from my Credit Union, who looked up many, many companies, and he couldn't do better. Most of them just wouldn't even quote it. He told me go with Geico, check back in a year after the lazy companies get data on the Teslas after they've been on the road for awhile. Just in time for me to get the X!

 

[RyanG]

I requested several quotes in the last few days from various insurers. I have a VIN but it doesn't seem to be in any of the systems yet, so look-up is based upon price or make/model if the insurer has that already (few do). (I was actually told that my car is ready today, so I'm wondering how much longer until the VIN can be found.)

Geico has the best rate for me, although I want to talk to them more about their policies for things like replacement parts, etc. My current insurance company, Nationwide, did not have a very good rate, but they know nothing about Tesla (or Tisla as my agent spelled it. :wink They were about $230 more than Geico for comparable coverage. I'm hoping that will come down a bit after they can quote from the VIN. (I have a home policy and am in the middle of getting an umbrella policy with Nationwide so am hoping not feel the need to switch right now.)

For comparison with what I'm currently paying, I'm adding another good driver (my fiancée) and keeping my current car (2003 350z) but dropping most of its coverage. It comes out to $450 more with Geico, or $680 more (ouch!) with Nationwide. I guess that's mostly to be expected.

 

[loganss]

Looks like GEiCO just lost a customer of over 8 years.

I shopped around for $100k/$300k/$100k coverage with a $500 deductible for Comprehensive/Collision and Progressive was the winner.

I'm 30 with no violations, points, accidents within the last 5 years.

Here's how the quotes looked for me:
State Farm: $922/6mo
Progressive: $628/6mo
Geico: $880/6mo
Erie: $807/6mo
Travelers: Need to talk to agent
AllState: Kicked over to esurance site
esurance: Tesla not in system
Farmers: Need to talk to agent

I'm going to try to talk to another GEICO rep because it just seems really strange that their quote is so high.

 

[ElSupreme]

Looks like GEiCO just lost a customer of over 8 years.

I shopped around for $100k/$300k/$100k coverage with a $500 deductible for Comprehensive/Collision and Progressive was the winner.

I'm 30 with no violations, points, accidents within the last 5 years.

Here's how the quotes looked for me:
State Farm: $922/6mo
Progressive: $628/6mo
Geico: $880/6mo
Erie: $807/6mo
Travelers: Need to talk to agent
AllState: Kicked over to esurance site
esurance: Tesla not in system
Farmers: Need to talk to agent

I'm going to try to talk to another GEICO rep because it just seems really strange that their quote is so high.

My GEICO and Progressive numbers were very similar to yours. I talked with GEICO people twice, including telling them exactly what I was going to pay Progressive when I was canceling my Insurance of over 5 years. They wouldn't budge off of their number.

 

[K Hall]

Looks like GEiCO just lost a customer of over 8 years.

I shopped around for $100k/$300k/$100k coverage with a $500 deductible for Comprehensive/Collision and Progressive was the winner.

I'm 30 with no violations, points, accidents within the last 5 years.

Here's how the quotes looked for me:
State Farm: $922/6mo
Progressive: $628/6mo
Geico: $880/6mo
Erie: $807/6mo
Travelers: Need to talk to agent
AllState: Kicked over to esurance site
esurance: Tesla not in system
Farmers: Need to talk to agent

I'm going to try to talk to another GEICO rep because it just seems really strange that their quote is so high.

My Geico number was about $550 for 6 months. Take your deductible up. $1,000 will give you a much better rate.

 

[loganss]

My GEICO and Progressive numbers were very similar to yours. I talked with GEICO people twice, including telling them exactly what I was going to pay Progressive when I was canceling my Insurance of over 5 years. They wouldn't budge off of their number.

I jumped ship and went with Progressive and didn't even bother giving GEICO a follow up call. It's ashame that customer loyalty means nothing now a days.

My Geico number was about $550 for 6 months. Take your deductible up. $1,000 will give you a much better rate.

Thanks for the suggestion but my loan terms cap me at a $500 deductible.

 

[mrjohnlnguyen]

GEICO was the cheapest I found 21st Century/Mercury/Farmers/State Farm all higher

 

[CMorris]

PenFed's documents say you must have a $500 deductible. However, if you ask they will raise it to $1000. The first person at PenFed I talked to was not aware of this, but the supervisor was. Other banks may allow for similar increases.