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Tesla Model S insurance in cost of ownership calculator

SFEV2020

Member
Feb 10, 2020
29
16
San Francisco
Trying to get honest answers from Major insurance companies as part of evaluating Tesla Model S Total Cost of Ownership [TCO].
With no incidents last 7 years, education/professional discounts etc, am seeing rates from e.g Liberty Mutual of $350/month, Geico comparable etc etc for San Francisco. Car would be garaged and financed.
These insurance rates are more than twice what I'm paying for a modern high performance BMW 'M' sports car. Wiping out any benefits of gas savings based on annual milage 12k-15k miles,
Can't get an insurance quote from Tesla because I refuse to buy a Tesla without knowing insurance cost.
Tesla TCO savings wiped out per above including insurance costs.
Tesla is negligent in their 'potential savings' pricing they post online, as the insurance premium penalty regardless of Tesla model owned is common place and should be factored in additionally.

Any thoughts on what I could do for a Tesla insurance quote from Tesla before I abandon my interest in Tesla ownership?
 

Patrick W

Active Member
Mar 17, 2015
1,476
882
SLC, UT
Not uncommon. Some companies just don't want to insure Teslas.

Progressive insures my Ss. Much less expensive than what Allstate used to charge me.
 

ucmndd

Well-Known Member
Mar 10, 2016
6,412
11,962
California
I had wildly divergent quotes in California. All over the map depending on company. Admittedly my zip code is quite rural compared to SF, so not really a direct comparison.

The best quote I received, by far, was from the Costco/Ameriprise program. Been with them 3 years now and have been pleased. We have an active (not at fault) claim with them now on our other car, and they’ve been very pleasant to deal with.

Keep shopping around. I think this is one of those cases where an insurance broker can really add value.
 

Flyguy

Member
Aug 17, 2017
297
171
94062
I just ran the quote app. and go $94.33/month with the attached coverage. I need to drop Farmers and get this! They just jacked up to $141.00/month.

2017 S75
Been driving 34 years
 

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SFEV2020

Member
Feb 10, 2020
29
16
San Francisco
I just ran the quote app. and go $94.33/month with the attached coverage. I need to drop Farmers and get this! They just jacked up to $141.00/month.

2017 S75
Been driving 34 years
Thank you could you possibly try a quote for Zip 94108 , two adult drivers aged over 40, licensed 20 years +, no claims/incidents last 7 years, both post grad qualified, 15k annual milage, Tesla Model P100D ! Many thanks !
 

Flyguy

Member
Aug 17, 2017
297
171
94062
Thank you could you possibly try a quote for Zip 94108 , two adult drivers aged over 40, licensed 20 years +, no claims/incidents last 7 years, both post grad qualified, 15k annual milage, Tesla Model P100D ! Many thanks !
Nope. The quote comes from pressing a button in your Tesla account, there is no way to configure those parameters. Also, I just looked at my Farmers policy, which gives significantly more coverage than the Tesla amounts. You can run the Tesla app with high higher coverage amounts which I will try tomorrow and post.
 

Flyguy

Member
Aug 17, 2017
297
171
94062
Thank you could you possibly try a quote for Zip 94108 , two adult drivers aged over 40, licensed 20 years +, no claims/incidents last 7 years, both post grad qualified, 15k annual milage, Tesla Model P100D ! Many thanks !
Actually, looks like you can change some personal information. I can try tomorrow
 

tranzndance

Member
Sep 10, 2017
490
320
Bay Area
Check out Progressive. They charged less premium for my 2017 S than a 2008 Audi A4. Two months of the quotes that you got would pay for a six month premium for our two Teslas. I have a high liability limit and high deductible. We also have low annual miles. Your mileage may vary.
 

trm2

Active Member
Apr 3, 2016
1,050
1,640
CLE
Thank you. Allstate is saying $600/month. Esurance about $400/month. Both negate any TCO savings from Model S ownership for me per original post. Look forward to seeing your quotes thank you again
The funny thing about this one is that Esurance is part of Allstate AND Allstate is doing away with Esurance this year, folding everything back into Allstate.

Did you try calling to get a quote? I don't know if it is possible, but the site says:
Please Call 1-844-34-TESLA To Get an Insurance Quote
 
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ICE collector

Have a nice day!
Feb 28, 2019
91
9
San Diego, CA
Trying to get honest answers from Major insurance companies as part of evaluating Tesla Model S Total Cost of Ownership [TCO].
With no incidents last 7 years, education/professional discounts etc, am seeing rates from e.g Liberty Mutual of $350/month, Geico comparable etc etc for San Francisco. Car would be garaged and financed.
These insurance rates are more than twice what I'm paying for a modern high performance BMW 'M' sports car. Wiping out any benefits of gas savings based on annual milage 12k-15k miles,
Can't get an insurance quote from Tesla because I refuse to buy a Tesla without knowing insurance cost.
Tesla TCO savings wiped out per above including insurance costs.
Tesla is negligent in their 'potential savings' pricing they post online, as the insurance premium penalty regardless of Tesla model owned is common place and should be factored in additionally.

Any thoughts on what I could do for a Tesla insurance quote from Tesla before I abandon my interest in Tesla ownership?

In short when you go do your paperwork online & reserve a vehicle & have a quote you will have the option to receive a insurance quote in your account. Financing any vehicle brings the cost up because financial risk belongs mostly to the bank. If you don't like your insurance quote you can cancel your Model S & get your money back. This can all be done before your delivery day. Tesla insurance is comparable with other ICE vehicles in model price range.

Not sure why that would prevent you from owning a Model S. I can understand your concern for getting a Model S, rates are higher in SF; the quotes you are receiving are an average of what other drivers are paying in the price range of the vehicle cost you want to own, in your area, with all risk factors involved, no one is getting special deals or insurance privileges, thats what it is, all car owners budget for it, just like registration is higher as well; so its simply all part of ownership.
 

SSonnentag

Rocket Scientist
Apr 11, 2017
1,723
2,176
Arizona
I got a quote from Allstate for my Model S 100D. It was ridiculously high, something like $200/month.

Progressive was only about $3 more per month than my Chevy Volt, roughly $88/month.
 

eskaryo

Member
Jan 13, 2020
12
6
USA
I shopped around for coverage a lot. Liberty Mutual blew everyone else out of the water in my case. There was no close second.
 

FoxSTL2HOU

Member
Nov 12, 2018
475
276
HOU
...
Tesla TCO savings wiped out per above including insurance costs.
...

What time frame and model assumptions are you using to calculate TCO? More to the point, how many years of "bad" premiums can you suffer? Maybe the first two years are "ok", but what if for years 3-6, the premiums triple (as I have experienced)?
 

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