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I had 2 cars and my house bundled with my 10 year agent. When I got my s85 my insurance more than doubled. $1400 every 6 months. I told him there was no way, I had BARE minimum coverage for California, how could it be so much. He said the car is the most expensive car to fix in the entire system.
I got 6-9 different quotes from various companies, all the same, until GIECO. They got me to $900 every six months with all three cars and I didn't even bundle the house. To add insult to injury, I raised all my coverages to about what OP posted, and in some cases a little more... STILL cheaper, crazy right? Anyway, gave my agent a chance to beat it, he tried and couldn't and understood. He is convinced that GIECO will raise them on me next year as they start to total more cars.
We shall see.
Just a gentle reminder: Check other insurers.
Nearly ALWAYS you can get a better quote just by threatening to leave your current insurer. You can rest assured that the longer you have been with an insurer the more likely your rates are higher than they should be. And a BIG name insurer is no better in many respects than the little independent, and often worse.
It makes no sense to have a high deductible on a Tesla. Any accident will result in at least a couple grand repair just to your car.
Yes it can make sense -- a low deductible on Collision is what drives premiums so high. If u rarely have claims a high deductible will easily pay for itself many times over during the course of a lifetime of insured driving.
-- David
A big part of your rate is based on where you live. Louisiana ranks high for fraudulent claims and payments, the same for my area (tampa florida).
Liberty Mutual was stupid expensive for me as well ($5000), but Safeco a company they own was only $3000.. go figure.
AMICA is reasonable and so is Travelers, my rate with the latter is $3000 for my 85D (112K sticker) and a 2015 X5 ($75K sticker) 100,300,100 with $1000 deductables and I have one accident that happened 2 years ago that I was blamed for.
There is no reason not to have a $1000 deductable, if you are in an fault minor fender bender its better to write a check then file a claim. My father in law is in the insurance business and even he carries a $1000 deductables...Any thing less is silly to have unless you just enjoy paying more for insurance.
Insurance agent here. $1000 deductibles for all of my vehicles and any colleague I know. Like others have said, for small claims it's much cheaper in the long run to pay out of pocket.
Your deductible is too low, it should be $1K. I switched to Naitionwide from Geico. Also, call you local certified Tesla repair shop and see which company pays their overbloated repair costs. Some companies will not pay the hourly rate they charge for Tesla's.
You need more than $25k for property damage. That would not cover many cars being totaled.Hello all,
I'm getting my P90D soon and have embarked on the quest for insurance. I currently have Geico and after almost suffering a heart attack when quoted for adding the P90D on to my policy(an extra $2500 per 6 months), I've decided to move on and find something a bit more accommodating. I currently have only one other car that will share insurance policy with the P90D, a 1998 Buick Regal(YEAH ITS DEFINITELY TIME FOR AN UPGRADE).
I have seen some miraculous P90D insurance quotes on forums like $700 per year from Liberty Mutual. While I understand this may be a quote for only a Tesla on a policy by itself, but pardon me that's insanely low. I was quoted a very unattractive $5k-$6k/year(about $500/month) from Liberty Mutual, and similarly from other insurers like progressive, etc.:crying: Really, does having both of my cars on the same policy hurt me so much? I thought insurers liked that and gave nice discounts for it.
I currently live in the Gulf States area, Louisiana to be exact. Not sure how much of a difference it makes but, the Tesla's are as uncommon as snowstorms here(the way I like it actually). But does that affect my insurance costs?
As it may be obvious to see by now, I am no insurance buff. I pretty much go with the status quo with the limits I choose for my policy. That said, I did drop all extra coverage from my Buick when making quotes, since I plan to be driving it alot less.
Here is a list of the insurance limits I've been using for quotes:
Bodily Injury - $100k/$300k
Property Damage - $25k
Uninsured Motorist: $100k/$300k
P90D Coverage
Comprehensive - $500 deductible
Collision - $500 deductible
Regal Coverage
none
Somehow the above configuration always ends up giving me a very large monthly/yearly cost. Is something wrong with the limits I've chosen? Please feel free to critique and let me know! Also, please feel free to share your insurance configuration as well as your monthly/semi-yearly/yearly costs! I just want it to stay as reasonable as possible. If I am in fact doing whats most reasonable(which I doubt) then I will make my pick based on what I've found so far.
Thanks for any help offered:smile:
You need more than $25k for property damage. That would not cover many cars being totaled.
+1000And the liability limits should be $250k/$500k and $100k PD at a minimum and then buy an umbrella. Most people who can afford an S probably have income and assets to protect.
Yes, being in 20s and living in LA is going to be expensive.
And the liability limits should be $250k/$500k and $100k PD at a minimum and then buy an umbrella. Most people who can afford an S probably have income and assets to protect.
Yes, being in 20s and living in LA is going to be expensive.
yep.Oh my, no. Aside from a very few exceptions with collectors vehicles, cars are never an "investment". If anything, they are a liability.
Oh my, no. Aside from a very few exceptions with collectors vehicles, cars are never an "investment". If anything, they are a liability.