Pre-Purchase Insurance Quotes vs Actual?

[jbakes09d]

New to the forum, so I apologize in advance if this is the wrong place to post this question.

For those of you have purchased - were you able to get quotes prior to getting your VIN and, if so, how did they compare to the actuals after receiving your VIN? I was recently able to get out of my Subaru lease early and have been looking into replacing it with a Model 3, but am a little hesitant to pull the trigger due to some of the insurance rates I have posted by owners.

Prior to selling the Subaru we were paying ~$145 per month for $250k/$500/$100k with $500 deductibles for a 2019 Crosstrek and 2017 Mazda CX-3.

 

[jjrandorin]

Welcome to TMC!

I am a little confused by the question, because if you get a quote for insurance from your current insurance carrier (or any insurance carrier really) and specify the level of coverage you want, how would the quote differ from "the actuals" or what they actually charge you?

The only reason that would change is if they find "something" after they quote you, like you said you have zero points, but there is a point (or more) on your record or something.

Get a quote from your current carrier for the type of model 3 that you are looking to buy. call in and get a quote, vs doing some online quote (and talk to an agent at your current carrier who is licensed to issue / change policies).

The quote would be the price (and pricing you read online has nothing to do with what your price might be). Insurance is one of those things that people posing pricing on does not help in the slightest, and it actually hurts, because there is so much variability due to each persons driving record, zip code, etc.

 

[jbakes09d]

Welcome to TMC!

I am a little confused by the question, because if you get a quote for insurance from your current insurance carrier (or any insurance carrier really) and specify the level of coverage you want, how would the quote differ from "the actuals" or what they actually charge you

Hello and thank you for the welcome!

I have had a couple of experiences where even my current insurance carrier won’t generate a firm quote without a VIN.

If I were shopping for something like a Hyundai Kona I would just grab a representative VIN of a dealers website, but I haven’t seen any 2021 VINs floating around. Unfortunately I didn’t think to grab the VIN off of the demonstrator 2021 Model 3 in the showroom today.

 

[Gvardaman]

As I wait for my model 3 and still have the Subaru, the Tesla site says I can get an insurance quote when I get my exact delivery date. When I spoke to a rep at Tesla, she said that my USAA quote with multiple vehicle discount was probably as good ot better than what they would be able to offer. i can’t imagine my existing insurance agency not being able to give me a quote. If I remember to do it, I’ll call them tomorrow and ask.

 

[Mattopotamus]

Welcome to TMC!

I am a little confused by the question, because if you get a quote for insurance from your current insurance carrier (or any insurance carrier really) and specify the level of coverage you want, how would the quote differ from "the actuals" or what they actually charge you?

The only reason that would change is if they find "something" after they quote you, like you said you have zero points, but there is a point (or more) on your record or something.

Get a quote from your current carrier for the type of model 3 that you are looking to buy. call in and get a quote, vs doing some online quote (and talk to an agent at your current carrier who is licensed to issue / change policies).

The quote would be the price (and pricing you read online has nothing to do with what your price might be). Insurance is one of those things that people posing pricing on does not help in the slightest, and it actually hurts, because there is so much variability due to each persons driving record, zip code, etc.

It is possible the VIN provides more detailed information about the car than the person giving you a quote inputs. I wouldn't be shocked by a slight increase, but the quote is going to be fairly accurate. The nice thing about Tesla is that a LR AWD is the same across the board. It isn't like a traditional car manufacturer where it could have a different interior and engine options.

The slight increase I reference could come from rim choice and paint color. Those things that the VIN would provide vs just inputting the type of car during a quote.

 

[hellocar]

My actual cost with Geico was slightly less than the quote i had gotten a few months earlier, when i was finalizing the decision to buy the model 3.

 

[jjrandorin]

Hello and thank you for the welcome!

I have had a couple of experiences where even my current insurance carrier won’t generate a firm quote without a VIN.

If I were shopping for something like a Hyundai Kona I would just grab a representative VIN of a dealers website, but I haven’t seen any 2021 VINs floating around. Unfortunately I didn’t think to grab the VIN off of the demonstrator 2021 Model 3 in the showroom today.

It is possible the VIN provides more detailed information about the car than the person giving you a quote inputs. I wouldn't be shocked by a slight increase, but the quote is going to be fairly accurate. The nice thing about Tesla is that a LR AWD is the same across the board. It isn't like a traditional car manufacturer where it could have a different interior and engine options.

The slight increase I reference could come from rim choice and paint color. Those things that the VIN would provide vs just inputting the type of car during a quote.

Ok yeah I see now. Options on the car can make the price change, thats true. Its also possible for a 2021 to be a different price than a 2020, as far as insurance pricing goes (likely even), so I see the root of the question now.

I dont think it would be significantly different but it definitely could be different. I was thinking about large differences but that is not what you asked at all.

Thanks for circling back.

 

[jbakes09d]

Thank you to all of you for taking the time to respond! I’m relieved to hear that the experience has been quoted vs actual is fairly consistent instead of ‘bait and switch’.

I generally do a comprehensive insurance re-quote once a year through an insurance broker and then requesting quotes from carriers that they don’t resell. My expectation is that the odds are pretty good that I will need to do that again for insurance on a Model 3.

 

[Mattopotamus]

Thank you to all of you for taking the time to respond! I’m relieved to hear that the experience has been quoted vs actual is fairly consistent instead of ‘bait and switch’.

I generally do a comprehensive insurance re-quote once a year through an insurance broker and then requesting quotes from carriers that they don’t resell. My expectation is that the odds are pretty good that I will need to do that again for insurance on a Model 3.

If you are a cautious driver and do not quickly accelerate (hard with a Tesla, I know), I highly suggest looking into Progressive's snapshot or other insurance companies similar program. I have locked in 30% off my premium and because of that other companies cannot touch the rate I get. Something to consider that can save you hundreds.

 

[jjrandorin]

Thank you to all of you for taking the time to respond! I’m relieved to hear that the experience has been quoted vs actual is fairly consistent instead of ‘bait and switch’.

I generally do a comprehensive insurance re-quote once a year through an insurance broker and then requesting quotes from carriers that they don’t resell. My expectation is that the odds are pretty good that I will need to do that again for insurance on a Model 3.

There is a wide swing of pricing for model 3s depending on company. For example, I had AAA of southern california as my insurance for everything (home, auto, umbrella) and had been with them for like 15+ years. Their price on model 3s was significantly higher than almost everyone else. I didnt realize HOW much higher till they raised my home auto rates and that made me shop around.

I like all my insurance with one company, so AAA ended up losing all my insurance business. I found large differences in pricing for my model 3, and obviously I am the same person, with the same insurance profile. Was eye opening to see the range of pricing for the same exact quoted coverage levels (and I was sure I was quoting the same coverage levels... some companies remove this or that to make their quote seem cheaper).

I also have a philosophical issue with those driver monitoring programs so that is a non starter for me, even though I am a safe driver and dont spend a lot of time accelerating hard (occasionally, but not much at all). I just dont like it. I am not "tinfoil hat guy"... I have like 50 devices on my home network for example and a ton of IoT stuff, I just dont like the idea of an insurance company monitoring my driving.

 

[Mattopotamus]

There is a wide swing of pricing for model 3s depending on company. For example, I had AAA of southern california as my insurance for everything (home, auto, umbrella) and had been with them for like 15+ years. Their price on model 3s was significantly higher than almost everyone else. I didnt realize HOW much higher till they raised my home auto rates and that made me shop around.

I like all my insurance with one company, so AAA ended up losing all my insurance business. I found large differences in pricing for my model 3, and obviously I am the same person, with the same insurance profile. Was eye opening to see the range of pricing for the same exact quoted coverage levels (and I was sure I was quoting the same coverage levels... some companies remove this or that to make their quote seem cheaper).

I also have a philosophical issue with those driver monitoring programs so that is a non starter for me, even though I am a safe driver and dont spend a lot of time accelerating hard (occasionally, but not much at all). I just dont like it. I am not "tinfoil hat guy"... I have like 50 devices on my home network for example and a ton of IoT stuff, I just dont like the idea of an insurance company monitoring my driving.

I completely understand that stance, and without question they would use it against you if you got in an accident. They monitor your driving for 6 months, and then you are "free". It can only lower your rates, not increase them; with that said, in the event of an accident while it is plugged in I'm sure they would use it to deny a claim.

 

[DopeGhoti]

When I was contemplating purchasing what would eventually be my Model 3, I did get a quote from my insurance carrier. A couple months later, when I actually handed over my old and took posession of my new car and I arrange for new insurance, the actual price was within $5 of the quote for the six month term.

 

[jjrandorin]

When I was contemplating purchasing what would eventually be my Model 3, I did get a quote from my insurance carrier. A couple months later, when I actually handed over my old and took posession of my new car and I arrange for new insurance, the actual price was within $5 of the quote for the six month term.

Thanks! Unlike me, you provided feedback on the actual question asked

 

[jbakes09d]

I also have a philosophical issue with those driver monitoring programs so that is a non starter for me, even though I am a safe driver and dont spend a lot of time accelerating hard (occasionally, but not much at all). I just dont like it. I am not "tinfoil hat guy"... I have like 50 devices on my home network for example and a ton of IoT stuff, I just dont like the idea of an insurance company monitoring my driving.

I'm not a fan of it, but I'm currently enrolled in one - the discount was much bigger with Allstate than the current one with State Farm.

 

[DopeGhoti]

Interestingly, four cars ago I enrolled in a discout program whereby my insurer sent me a recorder to slap into the ODB-II port. I drove around with it for a year and they had me send it back after deciding I was not a maniacal driver. I still have a discount on my policy from having done that.

 

[Mattopotamus]

Interestingly, four cars ago I enrolled in a discout program whereby my insurer sent me a recorder to slap into the ODB-II port. I drove around with it for a year and they had me send it back after deciding I was not a maniacal driver. I still have a discount on my policy from having done that.

Progressive gives you a discount after 30 days that locks in for the next 6 months. At the end of 6 months you send the device back, and then your discount is permanently locked in. I did that 4 cars ago, and the discount has carried across all cars. I drove my wife's car for 6 months and she has the discount too, so really it's like 7 cars we have carried the discount to. When you get a new car, the key is to edit your current vehicle and plug the new car in

 

[jbakes09d]

My insurance agent must be in the market for a Tesla - I inquired about a quote yesterday and they asked if I had heard of any EoQ/EoY incentives.

 

[joebruin77]

As long as you give the insurance agent accurate information about the exact model and trim AND as long as your purchase the insurance within a month or two of the quote, then the quote should be accurate. If you get a quote for an SR+ and then you actually buy a Performance trim, then the cost will of course be higher.

I am insured with State Farm. I switched from a Subaru WRX to my P3D. My 6 month premium went up by $150 or so. However, compared to the Subaru, I am saving about $120-$160 a month in gas. And the cost of maintenance for the Tesla is way less than it was for the Subaru. So when you are making your decision, look at total cost of ownership and not just the cost of insurance.