Tesla Insurance

[Mschwennes]

I couldn't find this topic already started anywhere yet in TMC, but if it has been and I missed it, sorry.

I'm in CA and I've had Tesla insurance for about 8 months. There have been some unfortunate problems. I'm posting them so that others can learn what I have experienced, and so that (hopefully) the service will get better.

1. Tesla Insurance (TI) bills on your credit card, monthly. Nothing wrong with that, but I am used to auto withdrawals from my bank account. One problem, though, is that when I called TI one day with an issue, I noticed that they charged $1.23 to my credit card (on the same day) for some reason. Was it due to the phone call? I don't know; I haven't had the patience to call and find out.

2. CA DMV apparently didn't accept that TI was real insurance, and this got back to my lender. I spent HOURS on the phone with the lender and TI trying to get it straightened out. The lender sent several threatening emails to me saying that they were going to sign me up for insurance, themselves. It took two letters from TI to my lender to finally get it straightened out. Believe me, it was a real pain.

3. Three months later, sort of a repeat of #2 above. The letters from TI to my lender covered three months. Even though TI continued billing me monthly beyond that, the lender assumed the policy had ended and began sending threatening emails again. Apparently, TI was supposed to let the lender know each quarter that I continued to maintain my policy. TI said this issue will not happen again, but we'll see.

4. Unless TI begins offering home insurance too, it probably won't be worth it for homeowner's to move their auto insurance to TI. TI saved me about $150/year compared to the auto insurance I had, but bundling auto/home insurance with the same insurance company will probably save much more than that. In my case, I still had another auto insured with my home insurer, but when the auto died recently and I asked to cancel the auto policy, I was told if I did so, they would cancel my homeowner's and umbrella policies. I am actually paying auto insurance right now on a vehicle that I cannot drive, just to keep the homeowner's insurance. And I am looking for a new insurer.

 

[jeremymc7]

Didn't switch to TI due to many of the same or similar fears. Likewise same issue with savings and bundling from my checking. Others say otherwise.

Current insurer has stood with me through thick and thin for nearly 3 decades. Couple hundred a year at most isn't worth it right now.

Also in CA.

 

[TM3_858]

I'm in CA as well and I'm shopping around for a new insurance company because my current insurance provider, Farmers Insurance, is charging me $250 a month for my model 3, which is more than my other two Toyota vehicles (Matrix and Sienna) combined. I was considering maybe just getting Tesla Insurance for the Model 3...but I really don't want to go through what you went through, so I changed my mind about Tesla Insurance.

 

[jeremymc7]

I'm in CA as well and I'm shopping around for a new insurance company because my current insurance provider, Farmers Insurance, is charging me $250 a month for my model 3, which is more than my other two Toyota vehicles (Matrix and Sienna) combined. I was considering maybe just getting Tesla Insurance for the Model 3...but I really don't want to go through what you went through, so I changed my mind about Tesla Insurance.

Allstate is charging me $126/mth for my LR AWD M3. This includes fairly high coverage limits and rental / medical coverage; but also discounts for multi policy (house), good driver, etc.

Removing ALL discounts I'm still at $181/mth.

 

[Jubess]

I'm in California and decided to stick with USAA. I have 2 cars and home with them so the bundle discount is pretty good. Also USAA has SSA which you get money back every year. They deduct from my account every month. I've been with USAA for over 20 years and they have been awesome in their response to any issues.

 

[Lasttoy]

If, u r a Vet with a DD214, I found USAA cheaper in Florida.

 

[jeremymc7]

USAA is indeed one of the cheapest insurers out there. They also offer quite a lot of other services.

But it's only for current or previous military right ?

 

[Lasttoy]

Yes, u need a DD214 , discharge paper,
But, I heard a relative with USAa can sponsor u..

 

[TM3_858]

I'm in California and decided to stick with USAA. I have 2 cars and home with them so the bundle discount is pretty good. Also USAA has SSA which you get money back every year. They deduct from my account every month. I've been with USAA for over 20 years and they have been awesome in their response to any issues.

I get mail from USAA all the time. I never considered them. Now I'll have a look. Thanks!

 

[Mschwennes]

FWIW and for comparisons my Model 3 insurance with TI is costing me $125/month for almost the best coverage available, and for 2 drivers.

 

[Jubess]

USAA is indeed one of the cheapest insurers out there. They also offer quite a lot of other services.

But it's only for current or previous military right ?

Now, to be eligible, according to their website: Active, retired and honorably separated officers and enlisted personnel of the U.S. military. Officer candidates in commissioning programs (Academy, ROTC, OCS/OTS). Adult children whose eligible parents have or had a USAA auto or property insuranceproduct.*

 

[Lloyd]

Yes, u need a DD214 , discharge paper,
But, I heard a relative with USAa can sponsor u..

This is correct, and if available to you it is well worth it. I was allowed from my father, and my kids are allowed from me.

 

[AlasCon]

I keep trying to get a TI quote online filling in the form but everything time I get "Error - undefined". Did this over a few months, since my Allstate charges over $200 a month (and that's with home, 2 cars etc bundled discounts) and Farmers the same. Don't know why the error, and of course it's a pain to call someone at TI. Anybody else experiencing this error?

 

[jeremymc7]

I keep trying to get a TI quote online filling in the form but everything time I get "Error - undefined". Did this over a few months, since my Allstate charges over $200 a month (and that's with home, 2 cars etc bundled discounts) and Farmers the same. Don't know why the error, and of course it's a pain to call someone at TI. Anybody else experiencing this error?

Also located in same state. Also with same current insurer. Also with similar rate and discounts.

I do not get your error and I've done multiple quotes with TI.

The rate was less than Allstate and TI offered more "perks" but I just don't feel comfortable with TI yet.

Someone totaled one of my Tesla's and Allstate cut me a check within two weeks for more than I paid for it the year before. In the mean time they put me in a luxury vehicle while I waited while bringing it to my house and picking up when done.

With how Tesla handles service and loaners I honestly don't expect TI to much, if any better for claims serving.

Most of the comments I hear praising TI are just about any discount. I haven't see much of anything on claims. Discounts don't mean anything if when you need them they are not behind you 100%.

Sticking with Allstate for now.

 

[AlasCon]

Also located in same state. Also with same current insurer. Also with similar rate and discounts.

I do not get your error and I've done multiple quotes with TI.

The rate was less than Allstate and TI offered more "perks" but I just don't feel comfortable with TI yet.

Someone totaled one of my Tesla's and Allstate cut me a check within two weeks for more than I paid for it the year before. In the mean time they put me in a luxury vehicle while I waited while bringing it to my house and picking up when done.

With how Tesla handles service and loaners I honestly don't expect TI to much, if any better for claims serving.

Most of the comments I hear praising TI are just about any discount. I haven't see much of anything on claims. Discounts don't mean anything if when you need them they are not behind you 100%.

Sticking with Allstate for now.

Very good points Sir, thanks. Yes it's about claim handling more than discounts, as we found out when our house burned down in the NorCal Tubbs Fire 2017. Allstate was quite good then, compared to others, although they did not extend the ALE (Additional Living Expense, which is rent etc.) costs past the required 2 years minimum, unlike many other insurers who extended up to 3 years (we're still rebuilding and even 3 years won't be enough), hence my considering alternatives. After reading your TI points, I agree it's likely better to not go that route, even if I could get past the still ongoing error!

 

[heems]

I just switched to Tesla Insurance. Esurance renewal offer came in at $1150. Tesla came in at $960 for the same coverage levels. I shopped around and no one else (progressive, geico, etc) could beat ESurance let alone Tesla. This is for 2 Tesla Model 3s and 2 drivers. $500 deductible. 6 month term. 8000 miles, pleasure mode (thank you Covid).

One good thing is that Tesla’s site now at least handles all the cars and drivers. It wasn’t like that in the beginning and you had to call in.

 

[jeremymc7]

1. I’m still interested in Tesla insurance. But I still think it’s too soon. I see to see how things shake out in the future.

I’ll summarize my previous comments.

Pros

• Coverage limits you can’t get at most insurers, if you have the income to support it.
  
• Lots of perks in their polices, if you pay for them, also hard to come by.
  
• Service at Tesla instead of some insurance recommended shop. Depending on your SC could be blessing or curse. Even based recent comments.
  
• Rates usually similar or better than most mainstream insurers.

CONS

• No proven track record. Too new.
  
• Tesla SC long lead time and potential quality.
  
• Unknown how well they will stand behind you during an accident and will they change your rates or drop you?
• No local agent who you can have a relationship with and deal with headquarters when need be.
  
• No discounts for house, etc.

I like what Tesla is advertising but I like quality, consistency, and customer service. I know this sometimes sounds oxymoronic( which is why I wrestled with each of my numerous purchases, especially the first one.

Needless to say I don’t pay the cheapest rate but I’ve been with a national carrier for decades. They paid me more than retail for my recent total at the hand of someone else; they’re getting reimbursed so my now. When I wanted my personal possessions and I couldn’t get anywhere with the tow lot due to their COVID regulations my insurance company took care of it. When I got pushback from HQ adjuster my local adjust got it fixed. When I exceeded my rental car term due to Tesla back orders they extended it at no charge. I can go on an on.

I don’t know that Tesla can, world, or will do that for me. The difference of a few hundred or even a $1000 is WELL worth it to me. I would have been well past that with a lesser carrier due in this last incident. The further discounts on my non car polices also balance out the cost.

Okay maybe not so short. But worth the detail. I think.