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Model Y Insurance Cost?
- Thread starter minsara_visiri
- Start date
Silicon Desert
Well-Known Member
This question comes up a lot. The general consensus if that numbers are going to be all over the map from owners because there are so many variables that are personal to each owner. Just call your insurance company and ask them for a quote. They will most likely do it over the phone and it will be personalized to your situation. Numbers you see here are not going to apply to you. Maybe you know that.
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Thank you for your reply. It totally make sense what you are saying. I do realize that.
LevelHeaded
Member
Exact numbers won't match, but FWIW Progressive quoted me less for an MYP VIN than my X3.
Nice name. State Farm quoted me about $140/month. Seems steep to me, but I think it’s for 250/500.
I'm yet to take delivery of my M3. Progressive gave me the best quote (less than 1/2) of what geico, Liberty mutual and allstate quoted.
Silicon Desert
Well-Known Member
One other thing to add. Since the wife has worked for over 35 years processing claims from practically every insurance company, her opinion is too many people focus on cost rather than factoring in what will actually happen when there is an accident and how much they will be willing to pay. It varies greatly and some of those companies which are the cheapest are ones at the bottom of her preference list, not easy to deal with. Not going to mention which companies here because it will just upset some folks. So to say, google and look at customer satisfaction ratings and industry ratings and factor in that information.
Here is one of her examples, let's say in a rear end accident your exhaust system is damaged and needs to be replaced. Some companies will replace it at full cost and some will prorate it and not pay for full replacement. Thus, using the excuse that an exhaust system has X years of perceived life and you used half of that life already, so we will pay only half the cost of the repair REGARDLESS of your deductible. She's seen things like that hundreds of times. So you may also want to ask about hypothetical situations of what they will repair and what they will not repair and see it in writing on the insurance agreement.
Hint, most of the "online" insurance companies are the worst to deal with when it comes time to file a claim.
Here is one of her examples, let's say in a rear end accident your exhaust system is damaged and needs to be replaced. Some companies will replace it at full cost and some will prorate it and not pay for full replacement. Thus, using the excuse that an exhaust system has X years of perceived life and you used half of that life already, so we will pay only half the cost of the repair REGARDLESS of your deductible. She's seen things like that hundreds of times. So you may also want to ask about hypothetical situations of what they will repair and what they will not repair and see it in writing on the insurance agreement.
Hint, most of the "online" insurance companies are the worst to deal with when it comes time to file a claim.
Silicon Desert
Well-Known Member
Interesting. I don't have a high performance car to compare with, but our insurance on a 2017 X100 is within a $20 a year of the insurance cost on our older Acura with same coverage (a car of half the cost). I was surprised.
I am indeed work USAA. I have 12 year old Lexus LS460 and just bought a new LR+ model S. The old car is worth maybe 10-12K. The new one $80k. There additional insurance was about 10% higher for the Tesla. I was pleasantly surprised. I love in Florida where the rates are double where I lived in NY.
This is side by side with my '18 BMW X3 M40i. Similar vehicle class, size, cost and the X3 is among the safest ICE CUVs according to the IIHS. Both my '15 Corvette and '17 Camaro ZL1 where also about the same as the X3 so I was shocked with how much more it costs to insure the Y.
empiredown
Member
Progressive ftw! No affiliation other than they have my money because my 30 years + with USAA didn’t count enough for them to get their underwriters to figure the 8th Digit F issue out.
ß
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laservet
Member
I will be replacing a 2007 BMW 335i hardtop convertible with a 2020 Y, LR/DM, white/black, FSD, tow hitch, Gemini. Using the VIN number in the source code on my Tesla account page my USAA insurance will increase $18.47 per month over the 13 year old Beemer.
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You could try to do a generic quote (without VIN) but be aware that it may not be realistic. I did with Progressive (it had MY available as an option), and the quote was for around 450 for 6 months, which is almost what I pay now for my 11-year old SUV. I am pretty sure the quote is completely fake, and real quote, once I have a VIN, will be significantly higher.
Silicon Desert
Well-Known Member
Oh and to add that with a really new model like this, it is best to FIRST check that your insurance company will actually insure the car. I found this out when buying my car so I delayed my purchase for a few months until my insurance company would cover it. I did not want to change companies. Their first excuse was "not enough model history to provide insurance". Then 3 months later they called to say they would insure it.
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