Tesla insurance!

[RiknChar]

I have USAA (Full Coverage) and pay roughly $1600 every 6 months for three newer cars which are all 2015s; Model S P85D, Ford Crew Cab 4x4Lariat, and Kia Sorento SX Limited. Clean record—no accidents or tickets for just me and the wife. We are also heavy commuters.

Farmers Quoted me $2288 for the same coverage as of last month—no thanks.

Throw in my discounts and yearly member dividends, and USAA beats the pants out of all them.

I had USAA car insurance for over 30 years, but recently discovered that I could save a ton of money by combining my car insurance with my homeowner's insurance through American Family. I'm 56 and my wife and I insure 4 cars through AmFam for a total cost of $1100 every 6 months (for full coverage). We have a 2020 Tesla Model S, a 2020 Tesla Model 3, a 2018 Ram 1500 pickup, and a 2006 Lexus SC430. Clean driving record, and living in Nebraska.

When I dropped my USAA coverage after 32 years, I received a check from USAA for my "Subscriber Savings Account" balance of $8000. Pretty sweet deal, especially when I could use AmFam to save a bunch more on homeowner's and car insurance!

 

[Jubess]

I have USAA (Full Coverage) and pay roughly $1600 every 6 months for three newer cars which are all 2015s; Model S P85D, Ford Crew Cab 4x4Lariat, and Kia Sorento SX Limited. Clean record—no accidents or tickets for just me and the wife. We are also heavy commuters.

Farmers Quoted me $2288 for the same coverage as of last month—no thanks.

Throw in my discounts and yearly member dividends, and USAA beats the pants out of all them.

I have USAA for two cars and my home and I can't beat it. I've been with USAA for over 25 years and they have never let me down on a claim.

 

[BlueOvalFan]

”...American Family...”

Ha! I just tried to shop AF for a qoute and they don’t offer policies here in Cali—I don’t blame them. Between Musk and the politics, everyone is half crazy here.

”...When I dropped my USAA coverage after 32 years, I received a check from USAA for my "Subscriber Savings Account" balance of $8000. Pretty sweet deal...”

As for USAA, not a bad deal...getting a Free check when you canceled your policy. They sort of treat their members like co-owners.
I just brought my home owners ins over after farmers jacked my rates and coverage limits just to boost their premiums, and added an umbrella policy with my auto—not a bad deal and hope I can get one of those nice checks in the years ahead. I have almost every type of product they sell because of their competitive rates—just need some life insurance now on the wife

Just curious though...did you have a checking/Savings/CC account too...? Just wondering if you have to close all ties to USAA to get the "Subscriber Savings Account" payout...?

 

[RiknChar]

Ha! I just tried to shop AF for a qoute and they don’t offer policies here in Cali—I don’t blame them. Between Musk and the politics, everyone is half crazy here.



As for USAA, not a bad deal...getting a Free check when you canceled your policy. They sort of treat their members like co-owners.
I just brought my home owners ins over after farmers jacked my rates and coverage limits just to boost their premiums, and added an umbrella policy with my auto—not a bad deal and hope I can get one of those nice checks in the years ahead. I have almost every type of product they sell because of their competitive rates—just need some life insurance now on the wife

Just curious though...did you have a checking/Savings/CC account too...? Just wondering if you have to close all ties to USAA to get the "Subscriber Savings Account" payout...?

You just have to drop the auto insurance to have them pay out the full balance in your "Subscriber's Savings Account." I still have life insurance with them and checking/savings accounts.

They used to be by far the best auto insurance rates in the industry (back in the 80s and 90s). I'd have other insurance agents call me to ask if they could quote me a car policy, and when I told them I used USAA, they said "never mind..." It seems like their competitive rates have slipped a bit in recent years, and now it may be worthwhile to shop around for better rates.

Their homeowner's insurance rates (in my opinion) are terrible (at least in my area). And they insist on setting the deductible for roof/hail claims at 1% of the home's value, so in my case that yields a roof deductible of $8k. Ouch. Roofs don't last long in Nebraska with our frequent hail storms, and that's one of the main things that I would ever claim. Other companies allow the roof claims to be at the same deductible as the rest of the house (oftentimes $1k or $2500)...

 

[EVNation]

Ha! I just tried to shop AF for a qoute and they don’t offer policies here in Cali—I don’t blame them. Between Musk and the politics, everyone is half crazy here.

Go to Ameriprise.com or Costco’s insurance tab, which redirects you to Ameriprise with a Costco discount. Ameriprise was bought by American Family last year, and they do serve California.

 

[Iceman23]

I have Progressive now and I need to find new Insurance and plan to go with Geico unless yall tell me different?
Progressive for no reason only gave me 95 cents back during COVID-19 and raised my premium up $300 for the next 6 months which is nuts since no one is driving and I have a spotless record and pay in full etc. Progressive is going to lose me after 10 years.

I am in NJ and any advice on Insurance would be great for my Used 2017/2018 ModelS P100D.

Wonder which bank I should use for a loan on my used Model S I am buying from Tesla direct?
I didnt see a thread about it?

Thank you in advance.

 

[kimvellore]

Go to Ameriprise.com or Costco’s insurance tab, which redirects you to Ameriprise with a Costco discount. Ameriprise was bought by American Family last year, and they do serve California.

The Ameriprise dont work well for expensive cars (100K) or homes (1Mil) their coverage is capped and limited. I worked with them for 2 days to see how I can get better coverage and with lower coverage and getting to their cap limits made the premium higher than all others.

 

[EVNation]

The Ameriprise dont work well for expensive cars (100K) or homes (1Mil) their coverage is capped and limited. I worked with them for 2 days to see how I can get better coverage and with lower coverage and getting to their cap limits made the premium higher than all others.

I had 100/300 coverage with them. Pretty similar to the upper limits other insurers offered, so I wouldn’t single them out for being insufficient, though I’m sure you can find insurers that offer even higher limits. My response was speaking to the fact that American Family does serve California through their purchase of Ameriprise last year. Does Tesla Insurance offer the kind of insurance limits you’re talking about?

 

[whitex]

I think you may not be interpreting Tesla's policy correctly. They give you the max for Uninsured Motorist Coverage, according to Automobile Insurance Information Guide:

"Uninsured motorist property damage (UMPD): This pays for the damage to your car from an accident with an uninsured driver who is at fault. The limit is $3,500. This only pays if the uninsured driver is identified. You may not need it if you have collision coverage."

The rest you can max out, like this:

Bodily Injury $1,000,000/$1,000,000
Property Damage $1,000,000
Medical Payment $50,000
Uninsured Motorist Bodily Injury $1,000,000/$1,000,000
Uninsured Motorist Property Damage $3,500

I use State farm. My wife had her 1 year old Model S totaled by an uninsured motorist (who was identified via dashcam video (not Tesla one) but never caught). The claim was just short of $100K, even the deductible was covered by the uninsured motorist policy. The big benefit of it not having to be a collision claim was not the $900 deductible (which paid for the dashcams in both our Teslas), but the fact they if you claim via collision, your insurance premiums will go up next renewal, and the record of it will follow you for few years even if you switch insurance companies.