New driver - Best cheap insurance?

[Jerome_NYC]

Hi All!

So, I'm a foreigner, 41yo, 23 years of driving abroad without accident.
I just got my NYS driving license, and the rates I get from insurers for my MYP are horrendous, like 500$ a month and up.

I kinda expected that, but I still wonder what would be the cheapest insurance for a profile like mine and if anyone has a similar experience.

Any tip would be much appreciated!
Thanks.

 

[Mr_Bob]

Living in NYC that’s just what they charge. We moved out of NYC last August, and I can tell you it’s just expensive all around to keep a car in the city given the exceptionally high location-based risk. There are also a lot of factors that can influence your quote if you’re coming from overseas.

That said the cheapest rates we found, both in the city and now in NJ, were via Progressive. When we were debating a Model Y before we moved, the rate we were quoted was about $400 a month if we paid in full for the whole 6-month policy period. Good credit, no accidents,, licensed forever.

Price in NJ for our MY LR is $580 for the entire six month period (around $100 a month). Could be lower if we didn’t finance. A few miles can make a big difference.

 

[broseph23]

You can try progressive, national general, geico, maybe even dairyland. However NYC + First time insured + Tesla is going to be very expensive everywhere.

 

[BrianBigNFun]

NYC
Newly licensed
Expensive car
performance car

if you were 15 years younger you wouldve hit actuarial chart bingo

 

[Jerome_NYC]

Thanks to both of you! Much appreciated. I didn't realize there was such a premium for NYC

 

[Jerome_NYC]

Ok, so for the sake of future owner with the same request:

Progressive got me to $2,996 / 6 months (I'll let you do the math).
Geico was north of $5,000 for 6 months.
National General and Dairyland do not offer coverage in NYC (tho I'm going to try with their affiliates).

 

[BrianBigNFun]

something helpful for you
some insurance companies offer a monitoring discount where you put a gps on your car that measures the times you drive, your acceleration and sudden braking
usually you put it on your car for 6 weeks to 3 months and get a discount based on your driving
definitely ask the comapnies you are getting quotes from if they have and bite the bullet for the time period and avoid launch testing or drive past midnight

 

[Jerome_NYC]

Great tip! Thanks Brian.

 

[Watts_Up]

So, I'm a foreigner, 41yo, 23 years of driving abroad without accident.
I just got my NYS driving license, and the rates I get from insurers for my MYP are horrendous, like 500$ a month and up.
I kinda expected that, but I still wonder what would be the cheapest insurance for a profile like mine and if anyone has a similar experience.
Any tip would be much appreciated!

When you fill your insurance application, did you mentioned one year or driving experience or 23 years of (international) driving?
Some insurance ask for age when you passed you driving test.

Some insurances provide a website where you can select various liabilities coverages so you can see the effect on your quote.
Medical is the most important.

If you park in a garage at night this could help.
You can also increase the deductible coverage (like $500 or $1,000).

You can take an additional drivers education class.

Ask for a 6 month contract instead of monthly.

The annual mileage is an important factor.

I would also recommend after 6 months, to shop again to get a better quote, even with your own insurance.

 

[uberAsian]

Damn I can't imagine paying that much for auto insurance. I was quoted for like $80/m for my Model Y.

 

[Jerome_NYC]

Damn I can't imagine paying that much for auto insurance. I was quoted for like $80/m for my Model Y.

Imagine the frustration when you have 23 years of driving experience with exactly zero accident...

 

[Jerome_NYC]

When you fill your insurance application, did you mentioned one year or driving experience or 23 years of (international) driving?
Some insurance ask for age when you passed you driving test.

Some insurances provide a website where you can select various liabilities coverages so you can see the effect on your quote.
Medical is the most important.

If you park in a garage at night this could help.
You can also increase the deductible coverage (like $500 or $1,000).

You can take an additional drivers education class.

Ask for a 6 month contract instead of monthly.

The annual mileage is an important factor.

I would also recommend after 6 months, to shop again to get a better quote, even with your own insurance.

They're very precise in their language and ask for how long I've had my US license... so it's < 1 year
One of them (Geico) asked about how long I've had a foreign licence, but they eventually came up with the most expensive quote anyway.

 

[Silicon Desert]

Tesla is going to be very expensive everywhere.

No, we don't agree with that. Depends a LOT of where you live and driving record, age, sex, mileage per year, amount of coverage, and other factors. We pay $1,100 a year for two drivers on a MX with a well rated insurance company and I suspect there are some people out there paying even less than us. In fact, the MX is costing only $250 more than the wife's Toyota which cost half as much and same age..

 

[Jerome_NYC]

And now Progressive asks for photos of the vehicle and registration document before they can insure the vehicle, while I need said insurance to be able to get the car (and photos, and registration)

Catch-22.

I've emailed to Progressive, but how did you guys go around that?

 

[Watts_Up]

They're very precise in their language and ask for how long I've had my US license... so it's < 1 year
One of them (Geico) asked about how long I've had a foreign licence, but they eventually came up with the most expensive quote anyway.

I have 21st Century - Farmers and you can request a quote online.
When I bought my new Model 3 LR AWD the quote was just between a Toyota Corolla Hatchback and a VW GTI
for same coverage and mileage while the Model 3 MSRP list price was almost twice as much of those two cars.

 

[Mr_Bob]

And now Progressive asks for photos of the vehicle and registration document before they can insure the vehicle, while I need said insurance to be able to get the car (and photos, and registration)

Catch-22.

I've emailed to Progressive, but how did you guys go around that?

You shouldn’t need to do that. If I remember correctly NY basically just requires the VIN to be on the insurance card, the same as NJ. Because you have delivery scheduled you should have your VIN in your Tesla account. Call Progressive and tell them it’s a new card and you’ll be the first owner; it might just be a glitch. In NY state dealers complete your whole registration process when you pickup the car, so they definitely need all your proofs prior to letting you drive away.

I didn’t actually add our MY to our existing policy until I knew the delivery date. I made the change active two days before so I could upload the insurance binder as my proof of insurance. Slightly less convenient in NJ, you get temporary plates and a temporary registration document, after that you wait a few weeks for all your documents/plates/official registration card.

 

[dc5itr888]

Progressive and Triple A were about the worst for the west coast. My rates were somewhere in the 319 per month to 800 a month with those two.

Triple A flat out didnt really want to insure EV's and did it just to show me a quote.

No accidents or speeding citations. Mid 30s.

Geico was more "reasonable" they were around the 200 range per month.

I ended up going with Tesla Insurance which was underwritten by a Insurance company in Texas for the same coverage as all the above companies but for 180 or so a month which was still "expensive" to me coming from past AMG cars that were much lower per month.

Insuring EV's are not cheap.

 

[Jerome_NYC]

Hi All,

For the benefit of other expats in the same situation: StateFarm ended up being by far the best offer. I got $429 / month on a 6-month policy with a very decent coverage (not state minimum). I'll have to go re-shopping after 6 months to get better ratings.

The most important takeaways for people with no history of driving / no history of being insured in the US:

• Your price will be very high because you can't show a history of 6 months of continuous coverage. So don't create a gap in your insurance history after this first 6-month period (being in NYC didn't help either).
• Add a owner/renter insurance on top of your car insurance. Seems silly, but the bundle is strictly cheaper than the cost of the car insurance alone.
• In my experience, in NYC, only Geico, Progressive, and StateFarm offered coverage.
• Surprisingly, StateFarm online quoting system said they couldn't insure me, but then I received a call from their representatives saying I could finish my quote on the phone, and it ended up being the best offer. So even if sales calls are annoying, answer your phone while you're shopping for an insurance! Their online system doesn't accommodate particular cases very well, human operators can.
• Eventually, in my case, Geico was (for 6 months, approx.) $5,000 with basic coverage ; Progressive was $3,000 with basic coverage, and StateFarm was $2,600 for good coverage ($50,000/$100,000/$50,000 with all options activated).
• However I do think this ranking is a point-in-time thing, considering their sales priorities seem to change frequently. I think people should shop as I did rather than fo directly to StateFarm.

That's it. I hope it'll be useful.

Jerome.

 

[hamzah1024]

Good Lord! I thought my rates were high! I have 5 glass claims in the last 3 years (Just learned glass claims still count as claims) so Progressive wouldnt insure me. GEICO (current insurer) quoted me $1600 for 6 months for both my Y and my wife's 21 Camry. Esurance was the cheapest at $1250 for 6 months for both cars. This is also for excellent coverage including comprehensive and uninsured motorist.

Based on what other people are paying, I guess mine arent that bad. Insured in Austin TX.

 

[EmbersDC]

I'm in Northern Virginia just outside DC. Progressive gave me $1710 annual. Model Y LR leased. Having the car parked in a garage helps also.