[RESOLVED] Insuring Tesla...TD monnex won't :( where can I go?

[Destiny1701]

So my insurance company 'TD monnex' told me they can't insure a Tesla as its too high a risk?!
Has anyone else had this sort of issue with their insurance company? They gave a nice quote with green discount etc but as soon as I provided them a Vin, they said they can't insure it!

Anyone have a good company they use?

 

[agloutney]

I'm with TDMM. They required I get a Tag installed because it's over $100k but that's it.

 

[Destiny1701]

Did they ask for a 4-6 week application process? That's what they told me and it usually means they don't want to insure it.
Thats odd! My record is spotless so it's not that. I'm very confused.
whats a normal deductible for this car? They were saying 5k.

QUOTE=agloutney;1398028]I'm with TDMM. They required I get a Tag installed because it's over $100k but that's it.[/QUOTE]

 

[agloutney]

That is odd. They didn't ask me anything like that.

 

[Destiny1701]

Is the deductible higher for this car? They quoted 5k and I had him change it to 1k but maybe that screwed up the approval?

 

[S'toon]

What province?

 

[agloutney]

I think mines 1k. All pretty standard coverage for me. Of course I got it before all the price hikes so it's barely a $100k car so maybe that's it.

 

[Destiny1701]

Ontario. We said 125k, 1k deductible. Odd because we've had close to 100k cars in the past just not 125-130?

- - - Updated - - -

Ontario. We said 125k, 1k deductible.

 

[SmartElectric]

I stayed with Desjardins and the monthly cost is less than the Mercedes SUV the Tesla S replaced, and about the same as my Smart Fortwo Electric Drive (shocker!).
However, the deductible went from $500 to $2000 due to the MSRP of the car, so that is something to consider.

Note: our Tesla was bought CPO (with big discount compared to new)

 

[Destiny1701]

Maybe because we said 125k. Makes no sense.
well they didn't actually record the quote as it was incomplete so I'll try again tomorrow perhaps with a lower value?
This has never happened before. We use TDMM for home-auto.

 

[juschilin]

Try RBC insurance. I take possession end of March and will be using them.

 

[tsarlsy]

I was able to get a quote from TDMM last year. Couldn't do it online so had to talk to a real person I ended up going with the Personal.

 

[S'toon]

Have you tried CUMIS?

 

[Doug_G]

I've got two Teslas insured with TD Meloche Monnex. I guess they've changed their policy?

 

[Destiny1701]

Thanks everyone for the responses. Spoke to Tesla in Toronto and they confirmed many of the new owners are with the standard insurance companies ie. td, rbc, desjardin, Aviva etc. I'm going to call back TDMM tomorrow as this seemed really strange to me.

I've got two Teslas insured with TD Meloche Monnex. I guess they've changed their policy?

 

[Destiny1701]

Ok got back on with TDMM. Apparently the first rep was a newbie. All bound and done. The 2nd rep was completely apologetic. sorry everyone. I'll remove this thread.
thanks again for all your comments.

Thanks everyone for the responses. Spoke to Tesla in Toronto and they confirmed many of the new owners are with the standard insurance companies ie. td, rbc, desjardin, Aviva etc. I'm going to call back TDMM tomorrow as this seemed really strange to me.

 

[Doug_G]

Ok got back on with TDMM. Apparently the first rep was a newbie. All bound and done. The 2nd rep was completely apologetic. sorry everyone. I'll remove this thread.
thanks again for all your comments.

You can't remove it... I have changed the title.

 

[iKhalid]

I stayed with Desjardins and the monthly cost is less than the Mercedes SUV the Tesla S replaced, and about the same as my Smart Fortwo Electric Drive (shocker!).
However, the deductible went from $500 to $2000 due to the MSRP of the car, so that is something to consider.

Note: our Tesla was bought CPO (with big discount compared to new)

+1
I'm with CIBC/Desjardins (Certas Direct) too. Very straight forward insurer as they seem to know what to do with cars like Tesla. Their 5 year coverage for the full price of the car is my favorite feature. And yes, the deductible is $2k due to the MSRP.

 

[Destiny1701]

Same feature with Monnex. 5 yr full replacement clause. Deductible we could go 1k but chose 2.5k as there was quite a price diff.

 

[Not an Ice]

Late comment to this post, but My Tesla Insurance has never been a problem, I just renewed P85D for $1,021.00 annual, paid it today. 5 Mill liability, deductable 5k, cheaper than my 68 firebird, Eacalade, 2 mini's and a jeep - State Farm, or whatever they call themselves now in Canada. Shop is I guess is my comment.