New S / insurance

[1101011]

Took delivery of a new Model S this week to replace my 2014 version.

After getting back home, I notified my insurance company, and the financial consequence is refund of $66 for the remaining three months which I had prepaid.

Brand new car, and my insurance costs go down?

Can anyone explain that?

 

[BESLA]

Probably because back in 2014 the insurance companies were not well aware for the cost of repairs for EV's, safety features etc and therefore the premium calculation was purely based on the car's sticker price.
It is a common trend here in europe, that in the last few year insurance companies have setup tesla specific plans(more of a fleet plan) considering they have all the safety and security features and hence the premiums have gone down. Also when these insurance companies setup these fleet plans the prices offered are kind of wholesale prices.

 

[SantaFeSpence]

I had a similar experience. Back in December prior to delivery of my M3 I got a quote of $2200/yr from my insurance company, so I went with another company at $900/6 mos. I called my first company a few weeks ago to see whether I should go back to them when my 6 mo policy is up, and I got a quote of $1400/yr. When I asked why the huge difference, they said that they’ve been readjusting due to more experience with Tesla. So - a safer vehicle that’s much less likely to be stolen? Wouldn’t it be cool if when I call back for another quote in May, the price drops even further?!

 

[trm2]

Took delivery of a new Model S this week to replace my 2014 version.

After getting back home, I notified my insurance company, and the financial consequence is refund of $66 for the remaining three months which I had prepaid.

Brand new car, and my insurance costs go down?

Can anyone explain that?

Possibly because of the Seatbelt and airbag recalls.

 

[Altair7]

When I bought my last car, it was two insurance transactions. The first was a refund from the old car. Then a short time later I got the bill for the new car. I suppose from an accounting point of view, it is an entirely new policy, so they close the books on the old then start the books on the new.

I was in the market for a MS before the Panic hit, and when I priced the insurance I was a bit surprised (pleasantly). I was moving up from a $30K Honda to a $90K Model S, but the insurance cost only doubled.

Medical risks/costs probably do not change, only the collision portion of the policy for a more expensive vehicle.