puckpurnell
Member
I use USAA and I believe my insurance went up about $20 a month when I dropped my Subaru Outback and added my M3 AWD LR. My next step is to call and alert them to Sentry Mode. I’ll post what I learn.
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Tesla offering insurance next month
- Thread starter zhu-
- Start date
Garlan Garner
Banned
Offering insurance in all areas of the US would pretty much an impossibility. Getting approval and setting up in multiple states (each is a separate effort) is something even large insurance companies are hesitant to do.
I think there are 3 ways this can go. 1) Tesla provides insurance in California only. 2) Tesla partners with another company that provides realistic rates. 3) Absolutely nothing happens.
I'm betting on 3.
I think there are 3 ways this can go. 1) Tesla provides insurance in California only. 2) Tesla partners with another company that provides realistic rates. 3) Absolutely nothing happens.
I'm betting on 3.
I'm very excited about this and looking forward to it.
I've had insurance with a number of companies and a few of them quoted me astronomical rates.
Mine is much less, but a few normal companies quoted 4k a year for a Model 3.
That is completely insane, 4,000 for a car that is in the 40-50k range with tons of safety features?
I don't think the underwriters have caught up to the idea that every accident is fully documented with video and other details. The cars are incredibly safe and are nearly impossible to steal.
I've had insurance with a number of companies and a few of them quoted me astronomical rates.
Mine is much less, but a few normal companies quoted 4k a year for a Model 3.
That is completely insane, 4,000 for a car that is in the 40-50k range with tons of safety features?
I don't think the underwriters have caught up to the idea that every accident is fully documented with video and other details. The cars are incredibly safe and are nearly impossible to steal.
TomT
Technical Maven
My Tesla insurance rate is low enough now (about $450 a year) that I can't see it being economically advantageous when the loss of my multicar discount is factored in for my other non-Tesla vehicle...
TomT
Technical Maven
JG T3SLA
Member
Not holding my breath but will definitely get a quote to see what their rate is, assuming this ever actually comes to fruition.
Not too worried about customer service. If there is an accident they will be communicating with other party’s insurance (I don’t micromanage this) and Tesla approved body shop/service center. Even when I have a claim I have next to no interaction with my current provider, USAA, other than paying my premium.
Not too worried about customer service. If there is an accident they will be communicating with other party’s insurance (I don’t micromanage this) and Tesla approved body shop/service center. Even when I have a claim I have next to no interaction with my current provider, USAA, other than paying my premium.
powaking
Member
You guys must be living on some island
I'm 46 and no tickets or at fault accidents. Its achievable.
Clearly I'm doing something wrong. Me and everyone else I know lol. Although I haven't gotten a ticket in 7 or 8 years so hopefully I can keep it going for another 30 or 40. But I just bought a P3D so my chances are looking bleak. It also doesn't help that I live in So Cal where you are expected to keep up with all the crazy drivers out there.
HankLloydRight
No Roads
I totally agree. This is just 'smoke and mirrors' from Elon to cover the obvious "robotaxi" insurance questions. It's not real. In no world does it make sense for Tesla to start their own nationwide insurance business, and any company they partner with is going to charge more for the Tesla branded insurance (like happened with LMI). No thanks, I'd rather stick with my current insurance company (Chubb) that has been in the insurance business for 130 years.
mspohr
Well-Known Member
My Tesla and Land Rover are insured with Metromile (HQ in San Francisco) and it only costs me about $1500/year for both. Mileage based. Great service.
It pays to shop around.
Pay-per-mile Insurance - Affordable Car Insurance
woodisgood
Optimustic Pessimist
I'll check them out, get something from them in the mail literally daily. I imagine it wouldn't be so great for 25K mi/yr on the 3.
Our problem right now is an open bodily injury claim in a 15 mph rear-end collision (no airbags deployed in our car). He had minor damage to his SUV's rear bumper, but is trying to milk every penny he can for pain and suffering and intends to leave the claim open as long as he can. This was our only fault or moving violation in 36+ combined years of driving between my wife and I. Want to know what State Farm quoted me this morning? $610 PER MONTH (including a 2014 Honda).
mspohr
Well-Known Member
Bodily Injury
$100K/$300K
Property Damage
$100K
Uninsured/Underinsured Motorist Bodily Injury
$100K/$300K
Medical Payments
$1K
Comprehensive Deductible
$500
Collision Deductible
$1K
Collision Deductible Waiver
$1K
mspohr
Well-Known Member
Definitely an advantage for low annual mileage which might not work out for you. Also, the claim could be problematic.
I'd definitely get as many quotes as possible from as many insurance companies as possible. They tend to vary quite a bit in their underwriting rules and you could find one who would be more impressed with your past clean record than the current claim.
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