Model X Insurance

[Craig-Y]

USAA Increases Model X Quotes

Just got off the phone with USAA. USAA had the X in their info. The quote was very favorable. Remove a 2002 Toyota Forerunner and add the X as a secondary vehicle to the Mrs. and the end result is only a $46 increase every 6 months!
Very good news!

You may want to talk to USAA again. I called USAA about a year ago and I received roughly the same estimate that you received in September based on a maxed out Model S. Unfortunately, now USAA is quoting significantly more per month to insure a Model X compared to a comparably equipped Model S even though there is only about $5,000 difference in price. I am trading in two Ford Escape Hybrids on my Model X and my premium will go from around $90 per month for two vehicles to more than $170 per month for one vehicle with the same coverages and deductible. The agent told me that they frequently see this incongruity in "limited production" vehicles. Although the Model X is not a limited production or limited edition vehicle in the classic sense (i.e. Shelby Mustang, etc.) its production has been limited and parts availability and repair options are not plentiful. She also said that the actuarial analysis is incomplete and that the rates could decrease as actual crash and repair data becomes available. USAA only had two types of Model X vehicles in their system: a “high cap” Model X and one that wasn’t otherwise differentiated. She did not know what “high cap” meant but we discussed that it might refer to the battery capacity or passenger capacity. We went with the “high cap” since I do intend to get the P90D and 7 passenger seating. She also added that once I have the VIN, my quote could change based on specific options I selected.

 

[BinWing]

I gave my insurance agent (allstate) my sig vin today, the quote changed from $600/6 month two month ago, to $1200/6 month, which I think is based on the purchase price. Consider simplified EV structure, I wonder what are your MX insurance experiences?

 

[ptsagcy]

Great idea. Also a point. I have insurance that allows me to transfer automatically upon purchase of new. So with people with that option, you'll be covered, but I guess something you might want to confirm before doing so. But once I check with mine, I'll put an update here.

Just check a few things:
1. That you want the same coverages on the MX as the car it's replacing because that is what you'll get unless you specify otherwise
2. That you notify the company within the required time as many "automatic substitute car" provisions are only for a limited period of time.
3. I don't know what you're replacing, but it's likely that the MX premium will be higher, so you might want to look at higher deductibles to partially offset the higher cost.

 

[drcherrybomb]

I put my VIN in for the loaded MX P90D I ordered with USAA. The rate is ridiculous. I am in NYC, so I expect high rates. I pay close to $3000/yr on my Mercedes GL450. This quote is almost $6000/year. I spoke to them on the phone and they say there is little data on the car and that may account for the rates. Just for comparison, I put in the VIN for a MS P90D. Cost for that car is similar, and that comes in at $3000/year. I hope the agent is right and the cost comes down to the same as the similarly equip Model S.

 

[andrewket]

I had to move away from USAA for auto a number of years ago because they were giving me ridiculous rates for a P85. At the time they told me "you're not our typical customer" and made no effort to keep me. I ended up moving everything except for a small valuable property (jewelry) policy as a result.

I moved to Allstate, but am now about to move to Pure.

 

[Spidy]

now USAA is quoting significantly more per month to insure a Model X compared to a comparably equipped Model S even though there is only about $5,000 difference in price.

As you go on later it's not just the price that matters, but also the potential in damage and repair costs. Does it cover windshield damage? Because someone else posted that his insurance excluded that one on the Model X and he would have to get a additional one. Also the FW doors could result in higher repair costs... at the moment there is pretty much zero data on that. Does anyone know if towing capability has an effect on insurance rates?

 

[hill]

Even with a flawless driving record, the rates will be all over the place, just based on area of residence. Our State Farm person stated that generally, based on all things being equal, the X will be similar to rates for the Cayenne Turbo. It too can easily go into the 6 figure pricing.

 

[ptsagcy]

As you go on later it's not just the price that matters, but also the potential in damage and repair costs. Does it cover windshield damage? Because someone else posted that his insurance excluded that one on the Model X and he would have to get a additional one. Also the FW doors could result in higher repair costs... at the moment there is pretty much zero data on that. Does anyone know if towing capability has an effect on insurance rates?

As a retired insurance broker (NY) with 50 years experience, I was very surprised to read the post claiming their insurance company in Florida excluded the windshield on the MX. I've never encountered this. As to your second question - no, towing capability does not have a direct effect on rates.

 

[Zybane]

Make sure you guys are actually using VIN's for your insurance quote. Everything else is worthless. One friend had a quote for insurance when identified as a "Model X". When they actually put the VIN in, the insurance quote increased something like 70%!

 

[vangogh]

I added the X to my insurance (using the VIN) and was surprised at how low the increase was <$1k for the yearly premium. In California with AAA....

 

[tide]

$2,186 annual for Farmers (CA Bay Area).

 

[DJ Frustration]

So far, I have found that my current provider, Progressive, doesn't have the vehicle in their system so it'll take four more days to get a rate quote.
Tried AAA and got an increase of $1,685 for 6 months using their online quote system, which recommended Travelers as a partner.
USAA gave me an increase of $1,810 for 6 months.
GEICO gave me an increase of $1,864 for 6 months.


Helpful info: 2 Driver household, no children on policy, no tickets or accidents in past 10 years, excellent credit, $100k/300k. Quoting apples to apples and excluding current vehicle to isolate just Model X rates. So far, this baby is more than twice what it cost to insure our 2013 Model S 85.

Will keep trying other agencies and post my feedback.

 

[Super_Popular]

$2,186 annual for Farmers (CA Bay Area).

Yikes. Try Nationwide.

 

[vangogh]

I added the X as a 4th car...and my premium only increased $1200 annually...AAA (CA Bay Area)

 

[pvogel]

So far, I have found that my current provider, Progressive, doesn't have the vehicle in their system so it'll take four more days to get a rate quote.
Tried AAA and got an increase of $1,685 for 6 months using their online quote system, which recommended Travelers as a partner.
USAA gave me an increase of $1,810 for 6 months.


Helpful info: 2 Driver household, no children on policy, no tickets or accidents in past 10 years, excellent credit. Quoting apples to apples and excluding current vehicle to isolate just Model X rates. So far, this baby is more than twice what it cost to insure our 2013 Model S 85.

Will keep trying other agencies and post my feedback.

With my VIN USAA gave me $1200 increase.

 

[Gary and Rachel]

I received 2 quotes from different places. With 3A I asked for MX P90D L and with adding it as our 4th car and pushing deductions up to. $1000. Each I was told $1900 a year. Then asking Farmers what they offer I found a better deal. We have our houses insured with them and we would receive almost a $1000 discount on what we are paying on the homes and with 5/500,000 protection we would be charged a bit more than $2000 for the car but with home discount we would be paying the adjusted price of $1090,a year for the MX. So we would get more Insurance on the car for less. That is for living in the east bay in San Francisco area. Wife and I have great driving records as an FYI. So mileage may vary in your area.

 

[BillC]

Paying $6,000/year on our Sig X with a $140,000 agreed value if total loss. No depreciation. $100/300. Pure Insurance, White Plains, NY

 

[Nototrader]

Paying $6,000/year on our Sig X with a $140,000 agreed value if total loss. No depreciation. $100/300. Pure Insurance, White Plains, NY

That sounds insane. I have pure and used to pay 2700 annually for a lambo with a much higher replacement value. Now I'm scared. I guess I will find out when I get the car and insure it next month.

 

[pvogel]

My estimate from USAA comes to about 1800/yr additional over my current car.

 

[EboMike]

My estimate from USAA comes to about 1800/yr additional over my current car.

How much do you pay for your current car?