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Tesla Now Offering Insurance

Xwing

Member
Dec 29, 2015
102
18
Melbourne Victoria Australia
Not sure if this has already been reported but Tesla now offers insurance in Oz. My new Model S arrives in a couple of weeks and I got a quote from Tesla Insurance today, (underwritten by QBE Insurance). They offer new replacement for 3 years from first registration and also cover the wall charger. Seems like a competitive price to. My quote on Model S 60 is $1650 base premium plus GST and Stamp Duty. That's for $1k Excess but includes windows without excess.

Seems pretty good to me! Anyone else got a better rate out there?
 

raynewman

Active Member
Oct 11, 2014
1,509
512
Brisbane, Australia
Not sure if this has already been reported but Tesla now offers insurance in Oz. My new Model S arrives in a couple of weeks and I got a quote from Tesla Insurance today, (underwritten by QBE Insurance). They offer new replacement for 3 years from first registration and also cover the wall charger. Seems like a competitive price to. My quote on Model S 60 is $1650 base premium plus GST and Stamp Duty. That's for $1k Excess but includes windows without excess.

Seems pretty good to me! Anyone else got a better rate out there?
Includes 2 years new replacement.
 

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srwx

"perf_config": "P1"
May 16, 2016
146
226
Ballarat, Australia
InsureMyTesla Insurance has more details.

I got a quote from them but in the end I went with QBE directly as it allowed me to reduce the premium by being more specific with what I wanted (e.g. not covering drivers under 24, etc.) whereas the Tesla offering had fewer "options". QBE also offered a 4 year new car replacement.
 

Xwing

Member
Dec 29, 2015
102
18
Melbourne Victoria Australia
Well Youi got back to me and have said they won't insure it! Couldn't give me a good explanation aside from that they don't have the 60 listed and can't underwrite it, (even though they have insured other Teslas.) guy said he didn't want to waste my time further which really meant he was feeling awkward and didn't want to talk about it anymore. Looks like I will pull my other vehicle from Youi now also.
 

bradjc

Member
Mar 7, 2016
312
163
Melbourne, Australia
Wow, has there been a problem obtaining insurance over there? Or reasonably priced insurance?

Reasonably priced, yes. Lots I called for quotes 6 months ago didn't even know what Tesla was. I think they're cottoning on now though. I managed to get a good rate ($1,200) with RACV + windscreen option, albeit with $2K excess but I was happy with that.
 

NikeWings

Active Member
Apr 7, 2016
2,117
2,819
California
Reasonably priced, yes. Lots I called for quotes 6 months ago didn't even know what Tesla was. I think they're cottoning on now though. I managed to get a good rate ($1,200) with RACV + windscreen option, albeit with $2K excess but I was happy with that.

Is $1200 an annual rate or for 6 months (typical quote period in the States)?
I find Teslas entre into insurance baffling.....hopefully they have a much larger and experienced company actually underwriting/taking the risk.
 

Xwing

Member
Dec 29, 2015
102
18
Melbourne Victoria Australia
Is $1200 an annual rate or for 6 months (typical quote period in the States)?
I find Teslas entre into insurance baffling.....hopefully they have a much larger and experienced company actually underwriting/taking the risk.
The quotes are 12 months and yes it's all under written by QBE who are a large insurer. Seems that the focus is on the vehicle and they're not all that interested in who the driver is. Infact they said to me that the driver details are purely for data and nothing to do with the actual quoting which is unusual in my experience.
 

NikeWings

Active Member
Apr 7, 2016
2,117
2,819
California
The quotes are 12 months and yes it's all under written by QBE who are a large insurer. Seems that the focus is on the vehicle and they're not all that interested in who the driver is. Infact they said to me that the driver details are purely for data and nothing to do with the actual quoting which is unusual in my experience.

Your rate is reasonable, but all these negative headlines, investigations, crashes and idiot antics are bound to hurt all of us, regardless of driving records. The semi auto technology scares them as well as provides a convenient excuse to increase premiums. Repair costs are quite high due to Teslas tight control and more Teslas are hitting the road. While I'd normally expect a new car premium to drop or hold flat as time progressed, this may change. Hopefully, I'm wrong. FWIW, I pay ~$350 more per year than you, with a flawless record.
 
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FetzCo

Member
Aug 2, 2016
55
5
WA
I'm 26 so I'm going to check out QBE for insurance.Going to try and get the 90D insured. Currently they do me a good rate (but it's a Holden).
 
Last edited:

Brian May

Member
Apr 9, 2016
275
59
Melbourne
RACV was cheaper by a long mile (with like for like feature, read the fine print)....RACV exist as different acronyms all over Australia....

Trying to work out if Telsa Insurance is closer to RACV Comprehensive or Complete. It looks like Tesla Insurance has limited insurance against things like theft of luggage, and emergency accommodation (read the exclusions carefully - these look a bit like gimmicks to me) and towing like the Complete package, but not some things like Taxi fares. So probably somewhere between the two.

For me, based on the same excess of $1000, the online quote I get for RACV Comprehensive is about $400 less then Tesla, and Complete is almost $100 more. However the Tesla quote includes things like new for old replacement for three years and any driver. Which I suspect might be worth the $400 additional per year.

Also with an excess of $1000, the Tesla insurance including the wall charger seems like a bit of a gimmick, not sure how much a new wall charger costs, but find it hard to believe costs of repairing one would be much more then $1000.
 

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