Model S Insurance

[ArtInCT]

This is why there are things like a Liability Umbrella....

 

[zwede]

I just got off the phone with my State Farm agent, asking for Texas quote on a new
Model S70 with minimum Liability coverage, and a deductible of $500 for Collision/Comprehensive. Quote is for $1766 annually.

I'm also in Dallas and found Travelers to be much more reasonable than State Farm. I pay $660/6 months with maxed out liability ($300K or $500K, I forget). I then have a $1M umbrella on top for $160/year.

 

[JMG]

I just got off the phone with my State Farm agent, asking for Texas quote on a new
Model S70 with minimum Liability coverage, and a deductible of $500 for Collision/Comprehensive. Quote is for $1766 annually. Now I posed this puzzler to them. Say my S70 is charging overnight at a hotel, and despite parking in a well lit location, I had to resort to charge on a slow-pokey wall outlet with an extension cord AND, I wake up in the morning to find a note on my windshield that somebody tripped over the cable overnight, and is suing for miscellaneous injuries -- is it covered? Their answer: no. So, I've got that to add to my range anxiety.

Why in the world would you be considering minimum liability coverage (30/60/25) owning a Tesla? Or was that just for comparison purposes? Hopefully your agent implored you to consider higher limits.

As far as the tripping, like what hybridbear said, if it wasn't covered under your auto insurance hopefully you have a personal liability insurance somewhere (homeowners or renters policy) with an umbrella over and above that for your personal negligence.

 

[nsxdavid]

So, I insured my Tesla with Shelter Insurance. A local Missouri company.

They were more than happy to take my money for the premiums, but when it came time to make a claim.... well then I learned how much not doing your homework on an insurance company can cost you.

Suffice it to say, the difference between what it costs to repair my Model S and what the insurance is trying to pay me is steep! I knew I was in trouble when the Tesla Service Center called me (on an unrelated matter) and I let them know I was having insurance issues, and the guy says (unprompted) "It isn't Shelter is it?"

The major crux of the issue is the difference in labor rates for the one (and only one) Tesla certified body shop in the St. Louis area. Nearest other shops are in Chicago or Kansas City and also have labor rates much higher than other shops. Which makes sense, there's training, tooling, etc. that goes into that certification.

The insurance payout is going to end up, at this point, about $5K off, perhaps more, on a roughly $18K repair. It took them like three weeks to even come to the conclusion to pay that much.

Anyone else had an insrance nightmare like this?

 

[Mailtrey]

Was just reviewing my (Texas) Liberty Mutual policy renewal on my 2016 S70 - Now I am scratching my head because (without any tickets, accidents or other mitigating factors that I can see) the price went from $960 last year to $1919 - a jump of almost $1K !! (OUCH - but glad I reviewed year on year).

Needless to say I have put a call into Liberty Mutual and they are 'looking into it'... But I will be shopping soon if indeed this is the prevailing rate and not a error, and Liberty will also lose several other much more substantial policies I have with them.

Any idea what the "national vehicle database" is saying about the Model S? -

"The increase to your premium is the result of an update to our vehicle rating criteria. We periodically receive data updates from the national vehicle database, which helps us ensure that we’re maintaining accurate and fair premiums for the vehicles our customers insure.

Unfortunately, with this update the premium of $2870.99 is currently the lowest we can offer with your current coverage and policy selections."

Time for new ins co. $2000 increase with no claims, accidents, tickets, or changes to policy is insane. Wish me luck. Will send an email to Tesla as well.

 

[neroden]

Check to make sure they have your car listed correctly. Most insurance companies are charging way more for P models than for non-P models.

 

[Bet TSLA]

Most insurance companies are charging way more for P models than for non-P models.

Geico in California has had quite reasonable rates on my 9/14 P85. I recently got a quote from Ameriprise (through Costco) and was shocked that it was triple what I pay.

 

[Mailtrey]

Check to make sure they have your car listed correctly. Most insurance companies are charging way more for P models than for non-P models.

Good point - they messed that up when I originally got the quote - I will check on that - thanks