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Model Y insurance ..AAA?

davenlei

Member
Feb 16, 2021
46
9
Orange County, CA
My insurance went DOWN with AAA when I bought my Model Y. I went from a 2018 Lexus IS to the Tesla, and my yearly premium dropped. I was expecting it to go higher.

Wow, that is a good break for you. My wife went from our Lexus to a SRMY and the insurance rate (Liberty Mutual) for the MY was more than double the cost of insuring three cars with three drivers. She was rear ended in 2018 but was found 100% not at fault and has a speeding ticket from 2019 (her first ticket in over 15 years). I thought it was a mistake because my rates would have been similar to what my co-worker pays for his insurance and his wife has two at fault accidents (both in one year) and he has a DUI with a totalled car (car rolled over several times) from that incident. His wife drive a Jetta and he has an Infiniti G37.

So we ended up going with Tesla insurance just for the MY. It is still much more than what we were paying for when my wife was driving her Lexus but is cheaper than LM. Not sure why it seems like insurance does not like the combination of my wife being in an EV car. If Tesla did not offer lower rates than these crazy insurance companies, we would not have completed the purchase of the MY. It seems pretty obvious Tesla knows if they don't offer insurance to offset the nutty premium costs of traditional insurance companies, they would lose a large portion of buyers who could not justify paying ridiculous insurance premiums.
 
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electricloris

Member
Apr 27, 2021
49
27
Texas
My Insurance barely changed between my A4 and Tesla, but the deductible is firmly at 2k. Right now Im at like 500 more than progressive for both cars, and I think i can get it down more. This is also bundled with my house. Im a bit busy, but I'm going to investigate more. Im reading that AAA is very good if something does happen, that they often quickly take care of things. Can anyone else speak on that?
 

MikeHolliday

Member
May 9, 2020
324
213
Worthington, Ohio
That is odd, because in Ohio with Progressive my Model Y is about $225/6 months for 300K/300K Liability - 100k Property Damage and a $750 deductible. I have had my second renewal with no change in rates...
 

JimAvera

New Member
Jun 6, 2021
3
0
Santa Rosa, CA
By far Geico is cheaper for me here in Santa Rosa, California: 873/6mo for a 2021 Model Y + an old pickup truck (the latter with minimum coverage).

Tesla's quote for the MY only was $872 and Geico would have charged $135 to keep the old truck alone (BTW, this is an increase from a quote I got ~2 months ago for $638 -- most likely due to the radar-delete which nixed NITSA safety ratings)

So many people here say Progressive is cheaper, so I just got a quote -- $1008/6mo. So definitely not cheaper in my case!

P.S. We are a retired couple, good driving records, no claims in past 5 years.
 

JimAvera

New Member
Jun 6, 2021
3
0
Santa Rosa, CA
By far Geico is cheaper for me here in Santa Rosa, California: 873/6mo for a 2021 Model Y + an old pickup truck (the latter with minimum coverage).

Tesla's quote for the MY only was $872 and Geico would have charged $135 to keep the old truck alone (BTW, this is an increase from a quote I got ~2 months ago for $638 -- most likely due to the radar-delete which nixed NITSA safety ratings)

So many people here say Progressive is cheaper, so I just got a quote -- $1008/6mo. So definitely not cheaper in my case!

P.S. We are a retired couple, good driving records, no claims in past 5 years.
Correction: The Geico quote (for both vehicles) increased from $638 to $873, prob. due to radar deletion; I did not get an earlier quote from Tesla.
 

MikeHolliday

Member
May 9, 2020
324
213
Worthington, Ohio
Correction: The Geico quote (for both vehicles) increased from $638 to $873, prob. due to radar deletion; I did not get an earlier quote from Tesla.
Hey, good reason to live in Ohio. No, the safety change will have nothing to do with it... It will be the Loss Ratio and Repair Costs. Unless the quote was prior to having a VIN number, which can affect the rate.
 

monacodk

Member
Jun 9, 2021
21
11
Scottsdale, AZ
My current carrier (via my broker) is quoting me $2,500/yr for our incoming MYLR, which is $1,000 higher than our outgoing Range Rover (and even about $750 more than my Porsche 911). My broker advised me to shop around as they just aren't competitive on Teslas in general. Did a quick quote via Costco and saw roughly $1,100/yr for the Y, so likely going that route
 

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