Good luck with Geico. They HATE Tesla’s. 52 yo, southern Illinois, perfect driving record; they want $2000 every 6 months!! I called them and they flat out told me that they did not want to insure Tesla’s.
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Model Y Insurance Cost
- Thread starter DriveEV
- Start date
Good luck with Geico. They HATE Tesla’s. 52 yo, southern Illinois, perfect driving record; they want $2000 every 6 months!! I called them and they flat out told me that they did not want to insure Tesla’s.
JasonR67
Member
Shop around. In July I checked with Nationwide who I'd been with for decades.. IIRC Website didn't have the model 3 listed.. When I called the agent said "Aren't those the ones that blow up?" and gave me a really high quote.. I shopped around and ended up at $720/year for my 3 performance stealth. Even if one carrier is cheaper for someone else than another, talk to several insurers. They seem to be all over the map on Teslas.
USAA in CT . Spotless record, 4 cars, homeowners, and big umbrella policy, $450/6 month
Aarons12
Enjoying my Pearl White LR AWD with inductions
not only are they all over the map on teslas, that pretty much goes for every brand new model these days but it's worse with teslas because they are so complex.
but the other thing is that most insurance companies now use proprietary rating systems with up to 150 different characteristics. so the rates can and do vary widely from company to company for the same car and person.
credit history plays a huge part.
I would also reccomend checking with some local agents. They have the tools to do the heavy shopping and finding those small savings that are not well known. Believe it or not, one area of savings was being an early shopper. After it was all said and done. I was with progressive and I've shopped them many times in the past.
NY_Rob
Member
Hey neighbor!
Yes, that's what I did.. I made sure the Model 3 was close to the price of the Model Y.
FWIW- it was something like $18 more for the 6 month policy vs. my 2017 Bolt with Allstate.
Gieco's Insurance Model has somehow tagged Tesla as high risk. Primarily because of the early ones having tons of issues that could not be repaired anywhere else but Tesla. So until they revise that model, it would not matter. I tried to do an online quote for Model 3 and then for Model S (without the VINs) and the price difference was not much. So clearly, they don't care that the cost difference between the two cars is enormous (you can literally buy 2 model 3 for the price of 1 model S). I called them out on that the agent could not offer an explanation. Eventually they will adjust their model and prices would become more reasonable. But for now, Geico may not be the best choice for a "Tesla". Too bad Tesla does not offer in other states besides CA.
JasonR67
Member
52yo.. North Carolina. Last accident was about 10 years ago. 2 speeding tickets in the last 3 years.
Geico was $63/mo for my Model 3p even after renewal to 2nd 6mo term.
Shop around. it seems to be a lot of hit or miss.
Or Quadruple.
I pay $1200 / year on Model X. Model 3 was maybe $100 cheaper (AWD Stealth Performance, same VIN as AWD at the time) was similar.
Geico would be double what I pay with Progressive.
addictedtocars
Member
Got the exact same quote for a LR Model 3 in Alabama (Progressive, also). Hoping the Model Y will be roughly equivalent, though I haven't called to get a quote for that yet.
Aarons12
Enjoying my Pearl White LR AWD with inductions
fortunately these days a lot of the smaller insurance carriers use the same independent adjustment services so claims service tends to be OK. i'm a long time independent agent and these days it's all approved contractors. it's even been a long time since i've seen a serious dispute between an insurer and an auto body shop, because they all use the same databases. not quite as certain about tesla only because of it's uniqueness.
Aarons12
Enjoying my Pearl White LR AWD with inductions
i'm an agent in NY and my own insurance is with progressive. i haven't checked my own rate yet simply because i know it won't be crazy enough to stop my from buying the vehicle
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