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Tesla Insurance??

rossini

Member
Jul 1, 2020
98
53
Marin County, CA
I was logged into my account today and noticed the Tesla Insurance option which caught my eye. For kicks, I entered coverage amounts and got a quote that turns out is insanely cheap to the point I am questioning all of it. I have USAA and pay around $1,600 per year with pretty solid coverage limits and USAA has always been significantly cheaper than the other big names.

This Tesla quote for 6 months is HALF that with more than double the coverage limits. It seems way to good to be true. Does anyone know if the quote algorithm just reflects the most favorable quote automatically without doing any underwriting? That would make more sense and also would undoubtedly result in an "adjustment" in the next 3-6 months once the full-blown underwriting is done. I'm a bit concerned about a bait and switch scenario.

Secondly, for those that do have it, how were your experiences with filing claims? Painless or lots of "gotchya's"?

USAA I've been with for years and whenever a claim came up it has been insanely easy to deal with them and the claims process. I'm hesitant to discontinue my existing policy and click the "Buy Policy" button because the whole thing seems way too simple and so cheap. Something has to give. Any comments/info people that have experience with it are very much welcome.

Thanks
 
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PasoY

Member
Sep 22, 2020
5
9
Paso Robles, CA
I had Tesla Insurance on my Model 3, and unfortunately recently had to use it due to an accident that was not my fault.

If you file a claim, you will be working with Crawford & Co, which is a claims management company. My adjuster was very nice, but very busy. This is not unique to Tesla Insurance.

The claims process was efficient, and their offer for my total loss as exceedingly generous.

The only major frustration is that my rental car coverage was only good for 30 days, which is not enough time to get a new car.

I will be using them for my next vehicle which, God willing, I’ll get to bring home on Saturday.
 

rossini

Member
Jul 1, 2020
98
53
Marin County, CA
I bought it and then had second thoughts the next day and cancelled. In the end, it was about 30 bucks cheaper per month vs USAA after losing the multiple policy discounts with USA which, after sleeping on it, isn’t enough to roll the dice with what a claims experience might look like. USAA claims is pure joy to work with when you need it and Tesla is just too new to worry.

plus I know they claim they don’t use any data from your car to play big brother on you starting with your first 6 month renewal review but I don’t buy that. At the least the low miles assumptions that factor hugely in my premium would be adjusted because you can’t tell me they won’t at the very least look at your mileage through the api during renewal.

they know you and your cars every single move. That is likely the real reason why they offer lower rates. I’m not one of them but plenty of people file fraudulent claims through auto insurance especially under comprehensive. You can’t tell me that TI won’t use all those analytics and cameras and whatever to research the event in question.

I’ll give it another year and get some real world experiences and then reassess.
 

Tugboat

New Member
Sep 15, 2020
4
18
Sacramento
Prior to having a VIN I ran an estimate through USAA who I've dealt with for over a decade. My quote was about $125 which is 25 over my last car.

I ran again with my VIN, USAA quoting $200 a month, $100 over what I pay now. Old guy/perfect driving record

Ran an estimate with Tesla (same deductibles) - $100 a month total.

Hate to leave USAA but jeeeeeeez.....
 

Nghia_3M

Member
Nov 17, 2020
14
2
San Jose CA
I bought Tesla Insurance, hoping that service on my model 3 would go smooth. I am learning that Tesla insurance is not really Tesla insurance? It's with State National Companies. See photo below. What does "Producer" mean? My friend's model 3 took many months to repair due to backorders on bumpers. The whole reason I bought Tesla insurance was to hope that I would have some fast track access to Telsa parts and services. I am rethinking this now....


upload_2020-12-10_12-2-30.png
 

sleepies

Member
Oct 23, 2020
24
4
Orange County, California
I was quoted $178 with USAA after a great driving record for years. Tesla quoted me at $160. I really like USAA too but decided to give Tesla insurance a chance. I'm happy with the service Tesla has provided so far so I thought, why not?
 
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bdaviskc

Member
Nov 21, 2020
61
21
Overland Park, KS
I bought Tesla Insurance, hoping that service on my model 3 would go smooth. I am learning that Tesla insurance is not really Tesla insurance? It's with State National Companies. See photo below. What does "Producer" mean? My friend's model 3 took many months to repair due to backorders on bumpers. The whole reason I bought Tesla insurance was to hope that I would have some fast track access to Telsa parts and services. I am rethinking this now....


View attachment 616366

Producer = Party that sold you the insurance and collects a commission
 
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GeorgeC1

Member
Jun 2, 2020
170
129
NC
My USAA rebate check was 880 dollars this year. When you factor in the rebate check and deposit into your subscribers savings account USAA is hard to beat. Keep in mind some companies will also give you a teaser rate but your renewal might jump substantially. Make sure you also have the same coverages and limits.
 
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