Sounds too good to be true - My rate doesn't go up after filing a collision claim with Tesla Insurance?

[cbrackert]

If I file a claim through the Tesla app and pay my $1,000 collision deductible, my monthly rate really won't go up? That honestly sounds too good to be true, but that's what it says here: https://www.tesla.com/support/insurance/real-time-insurance#insurance-pricing

There's a pretty serious passenger door dent after hitting a pole while trying to squeeze through a tight area. Seems like the body is untouched though. If anyone is interested in giving an opinion on estimated cost, I'd be happy to post pictures. From my research today it seems like I'm looking at $3k-$7k. If insurance were to go up $100-200/month, which is what I think I've seen people saying can happen, then I would definitely not go through insurance, but it sounds to me like I don't have that worry with Tesla Insurance. Just really wanting to get another opinion on that because it seems too good to be true.

I don't have any experience filing insurance claims. With Tesla, I just do it through the app, contact the local Collision Center (there's one really close to me in Denver), and go from there?

Thanks for any help, this is my first post here! Bummed my first one is in the Insurance community though, so shortly after getting my new Model Y.

 

[jjrandorin]

I have no idea if Tesla insurance is the same, but all sorts of insurance companies advertise "we wont raise your rates if you get in an accident". In almost all cases, its simply a play on words.

They dont "Raise your rates", HOWEVER.... you lose the "good driver discount" that you probably have, if you havent had any accidents, and that good driver discount is probably 10-15%. So, "They dont raise your rate"... you simply lose a discount... however the impact to you is you pay more money.

I feel fairly confident that Tesla insurance is similar to every other insurance company that says this, that does the above.

I get peoples reluctance to use insurance for a repair measured in the 100s of dollars, but not one in the 1000s of dollars, but /shrug.


anyway, expect to lose any good driver discount you have if you are at fault, which isnt raising your rates but you pay more money.

 

[cbrackert]

@jjrandorin apologies for being dense, but is the /shrug meant to say that it’s obvious that an expense that high should go through insurance?

When I hear people say rates can go up like $150/month, the math tells me it makes more sense to pay upfront to spend less money in the long term. Let’s say it does go up that much. If the non-insurance cost is $4k ($3k above my deducible) that additional $3k saved by insurance is wiped out in 20 months, so if the increase is for a period any longer than that then I’m wasting money.

Am I either 1) over estimating how much the rate would increase? Or 2) over estimating how long the rate would stay increased? Or 3) doing some mistake in my math?

 

[jjrandorin]

When I hear people say rates can go up like $150/month, the math tells me

This isnt much different than trying to compare insurance rates with other people online (which people do all the time, but is a futile exercise), or estimate repair costs (which is also pretty futile). What, and how much, someones rates might go up is an individual thing, like how much they might be paying for their insurance in the first place is.

Without knowing how much your insurance IS going to go up, and how much the repair IS, you are guessing. Its a pretty safe guess that if your repair is measured in the 100s of dollars, any increase in premium if it occurs will probably be more than that over the 3 years those increases tend to last.

With repairs measured in the 1000s of dollars, especially multiple thousands, its not nearly that easy to say "the math tells me" since the only math that matters is what you experience for your own repair / insurance increase. Other peoples increases are not relevant in the slightest.

 

[cbrackert]

@jjrandorin Is it fair to summarize your advice as: for a repair that expensive don’t think about it too much since it’s all guesswork and just use insurance.

 

[cbdream99]

I had the same parking accident on the door and rear quarter panel, it's super easy to file a claim using the app. I use Tesla Collison Center, and the experience is great and smooth. I filed the claim at the beginning of August, and the cost is 10k+, apparently, there is a discount using Tesla's own collision center. The car is being worked on now, and hopefully, I will get it back next week. At least for now, no premium increase but I should know more about it next month when it is time for renewal.

 

[cbdream99]

Tesla renewed my insurance and I have a 14% increase, also Texas moved the underwriter to itself from Austin Redpoint. I don't think this is accident related, I see similar increase in the past. Tesla insurance and repairs done in Tesla Collision center got 50% off Tesla parts, this saved the insurance about 3k on paper.

 

[Ted'sla]

From the Tesla website: Tesla Insurance determines your premium using several factors like what vehicle you drive, where you live, how much you drive, what coverage you select and the vehicle’s monthly Safety Score. The safer you drive, the higher your Safety Score and the lower your insurance premium:

• How safely you drive
• How much you drive
• What vehicle you drive
• Where you live
• What coverage you have
• How many vehicles you insure

It has nothing to do with your past or current driving record, aside from your mileage and your Safety Score. It also isn't age-related. Tesla bases your rate on how you drive your Tesla, how much coverage you selected and the quality of the maniacs on the road in your area. My initial 2 months will cost me $153. After a 99 Safety Score and lower than expect mileage in my first 4 weeks and 1 day, Tesla quoted me a new rate of $86 and change. Drive well and pay less. Hint: use Autosteer EVERY POSSIBLE MOMENT that you can and say goodbye to ridiculous "Unsafe Following" dings, even though Autosteer tailgates MUCH WORSE than you would. I guess it's okay if Tesla does it, because you can be right up on a car's bumper without penalty...best thing I've learned so far, but it's a bit scary.

 

[ahkahn]

Hint: use Autosteer EVERY POSSIBLE MOMENT that you can and say goodbye to ridiculous "Unsafe Following" dings, even though Autosteer tailgates MUCH WORSE than you would. I guess it's okay if Tesla does it, because you can be right up on a car's bumper without penalty...best thing I've learned so far, but it's a bit scary.

I wrote this in another thread, but be very careful with this. It's a trade-off.

My wife drives her M3 by hand most of the time. I use AP most of the time on my MS. If she gets a FCW or other ding, it averages that out across all the miles she drives. An FCW might knock her from a 99 to a 98 since she hand-drives 70-80% of the time, but an FCW might knock me from a 99 to a 97 or 96 since I only hand-drive 20-25% of the time.

 

[cbdream99]

Hint: use Autosteer EVERY POSSIBLE MOMENT that you can and say goodbye to ridiculous "Unsafe Following" dings, even though Autosteer tailgates MUCH WORSE than you would. I guess it's okay if Tesla does it, because you can be right up on a car's bumper without penalty...best thing I've learned so far, but it's a bit scary.

The downside of it is once you got so dependent on AP for the sake of saving money, you became numbed and actually slower to respond to an emergency situation and if you ever switch to non Tesla vehicle, it will take a bit of time to regain the alertness. Once there is a multi vehicle accidents in the front on the interstate, AP panic and gave up. For a moment, I am focusing on how to re-engage to avoid HB, FCW etc... but I should be focusing on avoiding accident instead.

 

[che_bsa]

cbrackert what is your insurance premium experience? did the rate increase due to the claim? ​

 

[Ted'sla]

The downside of it is once you got so dependent on AP for the sake of saving money, you became numbed and actually slower to respond to an emergency situation and if you ever switch to non Tesla vehicle, it will take a bit of time to regain the alertness. Once there is a multi vehicle accidents in the front on the interstate, AP panic and gave up. For a moment, I am focusing on how to re-engage to avoid HB, FCW etc... but I should be focusing on avoiding accident instead.

I'm not saying I'm dependent on it. In fact, for the very reason I stated (that Autosteer tailgates to the point of white knuckles), I don't trust it at all. We have a lot of concrete barriers right on the edge of the lanes of Texas State Highway 288 in a 5-mile stretch of construction on my most direct access to "civilization" from my far-out exurb. I rarely use it there and, because of that, that's where I get the unsafe following dings on my Safety Score. In fact, just yesterday, I was "clean" on Trips 1 and 2 (going to the store and then to UPS) but got 2 dings on Trip 3 going home. Both times, I was passed and, almost immediately, the passers pulled in front of me. With someone on my tail, both times, I couldn't slow down. I'm not distracted in the least by engaging or disengaging or reengaging Autosteer, but I AM distracted by playing by the rules of Safety Score to keep my premiums low. IMO, the SAFETY SCORE is the danger and may not DIRECTLY cause accidents, but I'm sure it tees-off other drivers who just want to get where they're going and are not under a microscope single second of every single trip. Unfortunately, for Tesla drivers, it's either that or pay double or triple for insurance with a regular carrier.

 

[Ted'sla]

I wrote this in another thread, but be very careful with this. It's a trade-off.

My wife drives her M3 by hand most of the time. I use AP most of the time on my MS. If she gets a FCW or other ding, it averages that out across all the miles she drives. An FCW might knock her from a 99 to a 98 since she hand-drives 70-80% of the time, but an FCW might knock me from a 99 to a 97 or 96 since I only hand-drive 20-25% of the time.

Yeah...I just read something similar that you reduce your denominator (the total time of safe following) when on Autosteer. But in the same post, I read that if there's no one ahead within the "fog" on the screen, that doesn't count as "good time," either. So, maybe the happy medium is to use it only when no one is in sight! OR just drive the car safely and, despite driving safely, expect to pay more for Tesla Insurance. I'm sure the Safety Score will be out of BETA someday. Not Sunday, but someday.

 

[ahkahn]

Yeah...I just read something similar that you reduce your denominator (the total time of safe following) when on Autosteer. But in the same post, I read that if there's no one ahead within the "fog" on the screen, that doesn't count as "good time," either. So, maybe the happy medium is to use it only when no one is in sight! OR just drive the car safely and, despite driving safely, expect to pay more for Tesla Insurance. I'm sure the Safety Score will be out of BETA someday. Not Sunday, but someday.

I don't think that second part is accurate, but I can tell you 100% the first part is.

 

[Ted'sla]

I don't think that second part is accurate, but I can tell you 100% the first part is.

But here's something to think about...if we all drive like Tibetan monks, we'll have far fewer warranty repairs that Elon has to cover!

 

[ahkahn]

But here's something to think about...if we all drive like Tibetan monks, we'll have far fewer warranty repairs that Elon has to cover!

Exactly! Chill mode required.