Hey all - just received my VIN after patiently waiting for the last 7 weeks. Ordered model 3 performance. In the state of Florida, I need to have insurance before taking delivery. I currently have USAA and they quoted me an additional 700 bucks. I also have a new ETron so my total 6 month premium is around 1700 (100/300, also stacked coverage) Not sure if this is a great rate or not. Hate using the quotes on the websites since they will hound me with countless phone calls and emails. Much appreciated!!
Taking delivery in a week, best insurance company?
- Thread starter Sbyrd24
- Start date
Long time AAA member, but they ended up being pretty expensive for my M3. Shopped around to a few major insurance companies and found that USAA was the least expensive for me, by quite a bit. Moved all our autos to USAA (my home owners was already with them after a couple years ago due to AAA cancelling us since we're in a fire zone).
Progressive tends to be the cheapest based on prior threads. That being said, there’s so many variables with insurance pricing take that (or anyone else’s pricing) with a grain of salt.
I just got my VIN today and got quotes from all of the major insurers. Geico was significantly less expensive for me (29, no current car - so no current auto policy).
6 month premiums, 50/100/50, $500 ded comprehensive, $500 ded collision, rental, etc. Brooklyn, NY.
Geico 618.27
Progressive 1691
State Farm 1,134.60
Esurance 2123.81
Allstate 1,990
6 month premiums, 50/100/50, $500 ded comprehensive, $500 ded collision, rental, etc. Brooklyn, NY.
Geico 618.27
Progressive 1691
State Farm 1,134.60
Esurance 2123.81
Allstate 1,990
Maybe it's just me, but 50/100/50 seems low for a higher cost of living state like NY.
Michelle_eriw
Member
I've had USAA since 1976; they also insure my home. When considering which insurance company to use, don't forget to take into account USAA's subscriber account returns; that comes to a few hundred dollars a year (increasing every year). Also if you've been with them for more than 40 years, there's the annual Loyalty returns, which usually are at least double the subscriber account returns.
ucmndd
Well-Known Member
Find an insurance broker. They do all the comparison work and you pick the coverage you want.
Insurance quotes are so local and situation dependent getting good advice by asking randos on the internet “what’s best” almost never yields good data.
Insurance quotes are so local and situation dependent getting good advice by asking randos on the internet “what’s best” almost never yields good data.
Figured asking a bunch of Tesla owners about their insurance would provide consistent answers but getting a broker is good advice
I’ve been with them for over 15 years and have never had a claim (Knock on wood) and they do kick back a few hundred bucks a year. Their customer service is amazing and the main reason we’ve stayed with them. I haven’t looked elsewhere for insurance in so long so I appreciate the feedback from everyone.
Makulit
Member
ucmndd
Well-Known Member
Ask about claims experience - that’s the big variable with Tesla insurance since they have such tight control over service and repairs. Some companies balk when it’s time to pay up because they can be so expensive to fix.
But really, as far as offering good compare/contrast when it comes to rates and value for your specific circumstances, I really highly recommend a good broker. They will pay for themselves many times over.
yerEVan
Member
Michelle_eriw
Member
New Jersey
I recommend trying out different deductible prices in the online configurators. I found going from $500 to $1k collision brought some significant savings while dropping comprehensive from $500 to $100 was only a few dollars more so worth it since Tesla's tend to get targeted with more vandalism.
This is also for 100/300/100 though I believe my $350 may be temporary due to covid19, prior it was around $450 but still significantly cheaper than my previous cars which were all in same price range.
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2021 M3P
Member
I have State Farm. I had GEICO once on one of my "fun cars" and it was a huge mistake. Tried everything to pinch pennies on my BMW M3 repair and would try to get or only pay the price for aftermarket body parts everything they could.
Pkmmte
Le meow
dmurphy
Woof.
Even in NJ, it can vary wildly by county.
I’m in Morris, and (without any Covid adjustments) my premium is $424.19 for 6 months.
$250k/$500k/$100k limits. $100 comp deductible; $500 collision deductible.
Increasing to a $1k collision ded didn’t make sense for us - the rate only changes by a few dollars. If I ever had to use it any time in the next 20 years, it’s cheaper to keep the lower deductible.