Model X Insurance Rates

[Blaketq]

I am hoping some of the members here might be able to help me figure out why my insurance rate is so high. I am insuring a 2017 Model X 100D. I live in southern California, drive 30k miles per year, am 29, have never had an accident and have only had a single ticket on my record since I started driving (a little over two years ago I got a ticket for not making a complete stop). My monthly insurance rate from Nationwide is ~$347/month. My coverage is 250/500 with a $500 deductable. I have my house insurance with Nationwide so that is including the multi-policy discount (The $347 does not include my house insurance). I just got a quote from InsureMyTesla through Liberty Mutual at $650/month.

 

[StephB]

Try Progressive. I had Geico previously, and they tried to charge me $1500 per six months. Progressive quoted $400 per six months for the same coverage plus a few extra options.

 

[scottf200]

Metlife/Metpayhave treated me well but I'm married with a kid on our policy still -- Auto, Boat, RV and Motorcyle Insurance | MetLife

 

[Sandiegodoug]

I use progressive too, much cheaper for same coverage as 21st century

 

[Xtek]

I also switched from Geico who wanted $380/mo to Progressive for $110/mo.

 

[cmaster]

Liberty Mutual was recently partnered with Tesla to provide better rates for insurance. Well, turned out it's fluke everywhere.

I live in NH. Switched from geico at $176/month with two cars (Pilot and Tesla Model S combined) to Liberty Mutual. Liberty Mutual is about $210/month.

So, a couple of months later I switched back.

I am hoping some of the members here might be able to help me figure out why my insurance rate is so high. I am insuring a 2017 Model X 100D. I live in southern California, drive 30k miles per year, am 29, have never had an accident and have only had a single ticket on my record since I started driving (a little over two years ago I got a ticket for not making a complete stop). My monthly insurance rate from Nationwide is ~$347/month. My coverage is 250/500 with a $500 deductable. I have my house insurance with Nationwide so that is including the multi-policy discount (The $347 does not include my house insurance). I just got a quote from InsureMyTesla through Liberty Mutual at $650/month.

 

[bugout]

I just got insurance for my 2017 100D. Everyone except Progressive was over 300/mo. Progressive came in at $72/mo. Switched from geico who I've been with for over 19 years.

 

[jajabor]

I have AAA; approximately $110/month with $500 deductible for MX100D. I live in the Bay Area and have been driving for 30+ years/no accidents, tickets or points.

 

[Sonic_78]

I was quoted through State Farm $510 6/months for a X75D, or $650 6/months for the X100D. This is who I have rest of my insurance with. However, I miss out on a multi car discount. Hope this helps.

 

[Barklikeadog]

I am hoping some of the members here might be able to help me figure out why my insurance rate is so high. I am insuring a 2017 Model X 100D. I live in southern California, drive 30k miles per year, am 29, have never had an accident and have only had a single ticket on my record since I started driving (a little over two years ago I got a ticket for not making a complete stop). My monthly insurance rate from Nationwide is ~$347/month. My coverage is 250/500 with a $500 deductable. I have my house insurance with Nationwide so that is including the multi-policy discount (The $347 does not include my house insurance). I just got a quote from InsureMyTesla through Liberty Mutual at $650/month.

I think if you spend a day looking though the X forum and see where people have their cars in the shop for weeks or months at a time, 200 mile tows, repeated issues... you have your answer.

 

[bodhipooh]

I just got insurance for my 2017 100D. Everyone except Progressive was over 300/mo. Progressive came in at $72/mo. Switched from geico who I've been with for over 19 years.

This will be me, sadly. I have a been a loyal GEICO customer for 19+ years, and have always been happy with their quotes and rates, up until two years ago, when they started to creep up. Now that I am waiting for my X, their quote for insurance was outrageous on a per monthly basis, so I will most likely end up with Liberty, or Progressive. The quote I got from Progressive was at least $100 less per month, maybe even more. A real shame to have to leave GEICO, but I refuse to pay their exorbitant quote.

 

[Peteybabes]

i went from $120/month down to $60/month for my model X both on Progressive, here's how:

Went from my own plan to a shared plan with 3 cars and rental insurance with a $1,000,000 umbrella coverage. The Auto portion alone for my Model X, a 2016 Rav4 and a 2016 Kia Optima Hybrid is around $140/month total!! My Model X is $60/month and the other 2 cars are $40/month each. Bear in mind that we also have a $1000 deductible, but are pretty much maxed out on the rest of the coverage.

Progressive is the ultimate Tesla-friendly insurance company I had to make a claim recently when i slid into a curb on the ice and it was super easy to deal with. (30 day wait on parts from Tesla but not an insurance problem)

 

[HadoukenZR]

I'm in the same exact boat. Currently with Geico and I've shopped around many difference companies. Geico quoted me ~$1500 for 6 month policy ($900 over my current Audi Q5) just for the Model X. But compared to other companies they were the lowest. State Farm, Liberty, All state, Mercury, etc... all came in crazy amount like $2500-4000 per 6 month policy. What the hell are they smoking?

I just got a Progressive quote online and it was ~$213 per month or $1310 but thats including my GTR which was $650 or so with Geico. So overall MUCH cheaper by at least $850.

 

[mrpseudonym]

In Australia the insurance premium for my ModelX increased 40% this year with no change to the risk level (on my side). Reason for the increase is 12 months of claims data is now available and the cars are too expensive to repair. Most insurance companies over here will not insure them.
IMO this is one of Telsa’s biggest barriers to new sales right now, and will affect the Model 3. By my estimate, it will cost more than double to insure a model 3 than a similarly priced European car, and while you will get the early adopters and everyone in IT buying them you won’t get mass adoption with this level of recurring cost.

Sorry, not an informative post, just a rant..

 

[Super_Popular]

Most insurance companies did the same thing with the Model S after about 2 years with so many expensive claims. My rate for my Model X in the US was $1K every six months with Nationwide.

 

[scal7]

Just got a quote for my soon to be delivered MX, as well as a 2017 Accord Hybrid. Progressive offered us $980/6 mo. with maxed out coverage including loan coverage.

 

[Uncle Paul]

Insurance companies have so many different underwriting policies, that the only way to get the best price is to shop around.

Your rate could be high because you put 2-3 times the annual miles on your car as others, have younger drivers in your family or live in a higher than normal risk neighborhood.

Gotta shop around...

 

[Terthen]

Just wanted to thank you all for spreading the word about Progressive. I just checked, they were over $1000 cheaper per year compared to all state, who had covered me previously. My all state agent advised me to switch now and keep it as long as I can.

 

[Nilnoc]

Insurance companies have so many different underwriting policies, that the only way to get the best price is to shop around.

Absolutely gotta shop! My Model X 100D arrives in a few days and I spent hours last week shopping auto, home and umbrella coverage. I got tired after 8 insurance quotes, and the pattern became apparent. The 6 month auto insurance premium ranged from $470 to $2090 for comparable coverage. Same story on homeowner's: annual premium quotes ranged from $530 to $950. Again on $1M umbrella coverage the quotes went from $110 to $240.

I went with policies from AAA. But if my personal circumstances and location were different, some other company's offering could well be better.

Shop it, ladies and gentlemen!

 

[Nilnoc]

By the by, after I'd established the rate for my Tesla, I added my wife's 2005 Jeep Wrangler to the policy for $5 per month.