Texas Tesla Insurance - Cost Experience

[Kreeeesta25]

So I got the renewal on my Progressive policy the other day for my 2021 M3 lr. $237 per month for state minimum coverage. I have decent credit, a tiny claim (my niece opened the car door and hit another car door. Didn’t even leave a mark but they filed a claim. Whatev. ) I also live in the #1 Texas flood zone. That’s really all I can think of on the increase. Progressive said it was due to 2022 Texas law changes.

Did a new online progressive quote and was able to get my rate reduced to $173 per month. Again, for state minimum coverage and no frills like rental reimbursement. Yippee! That was actually the cheapest option out of all companies I could check.

So I then get Tesla’s insurance advertisement via email today. Ran a quote with top of the line BALLER coverage. Everything they offer at the top option except no rental reimbursement. Rate is $88 per month. I instantly switched. Will update the price after the first drive score revision.

 

[redi]

I checked as well and noted an initial price that was less than my current Amica policy (which I think is pretty good as I have shopped it around many times). The monthly cost with Tesla insurance is about 30% less.

 

[Soap]

when you say minimum coverage are you really only carrying 30/60/25 on your policy?

 

[T3LR]

Does Tesla's policy include glass coverage? Can't find anything mentioning this when I go through the quote

 

[SilverString]

So I got the renewal on my Progressive policy the other day for my 2021 M3 lr. $237 per month for state minimum coverage. I have decent credit, a tiny claim (my niece opened the car door and hit another car door. Didn’t even leave a mark but they filed a claim. Whatev. ) I also live in the #1 Texas flood zone. That’s really all I can think of on the increase. Progressive said it was due to 2022 Texas law changes.

Did a new online progressive quote and was able to get my rate reduced to $173 per month. Again, for state minimum coverage and no frills like rental reimbursement. Yippee! That was actually the cheapest option out of all companies I could check.

So I then get Tesla’s insurance advertisement via email today. Ran a quote with top of the line BALLER coverage. Everything they offer at the top option except no rental reimbursement. Rate is $88 per month. I instantly switched. Will update the price after the first drive score revision.

I got rated by Progressive for a $10K repair (my fault I hit something in my driveway) on my 2019 MS and my rate went from an already expensive $200 per month to $300 per month for 100/300/100 liability with a $1000 deductible. That was a 33% increase! State Farm quote was only $50 a month less than Progressive, and Farmers, with whom I have two homes and three cars in a bundle offed me a rate of $2300 every six months, because they claim there is not 10 years actuarial data on Tesla.

After two months of Progressive at $300, Tesla Insurance became available in Texas and I was offered the same insurance for $150 a month for the fist month based on a safety score of 90, but after the first month my rate would be determined by my actual safety score At the same time my existing safety score to get the beta (this was mid October, 2021) got reset to 100, and 10 days later I got the FSD beta! The second month with a 99 score I paid $98, and then $92 the next month with a 100 score.

When progressive sent me a survey as to why I cancelled, I told them it was because they were a company with a Stone Age mentality and passed along the costs of all their advertising to the customer.

 

[redi]

I was putting around town on a few errands last week and my phone's Tesla app Safety Score rated me "99" (safe) and cut my Tesla insurance monthly premium by about 40%. Go figure.

 

[chinhster]

I’m on Farmers with two cars and home owners policy. I was paying $1310 for 6 months for just the MX. Switched to Tesla insurance and my safety score of 99 is getting me $88/month. I lost the multi car discount on Farmers which was about $30/month but I’m still saving around $100/month.

 

[redi]

Another drive went from 99 to 100 score and the March bill dropped another 2%. IDK.

 

[Brandonn22]

Tesla Insurance rates are very affordable. I was previously on progressive and was like 1200 every 6 months for my 2019 Tesla Model 3. Now I am paying 52 a month with a 97 driving score.

 

[FoxSTL2HOU]

As with all insurance, YMMV.

My household (two adults, 2015 S): the quote I got from Tesla Insurance (multiplied out for a 6 mo period) was going to be double what I have as part of a home/multi-auto bundle with Farmers (before any driving score changes).

My friends (two adults, two teenage boys, 2016 S and 2017 3): they switched from State Farm to Tesla Insurance earlier this year and are saving $200 a month. Both were about to start returning to work 3-5x a week, and were curious how much of a hit their driving score would take.

 

[TechOps]

My rate on a model 3 was $94/mo with $1MM coverage, which is significantly cheaper than I saw with Progressive or Geico.

I live in a high rise, and unfortunately the forward collision warning gets triggered by parked cars every time I leave the garage. My safety score just kicked in and it was projecting a 3x increase in premium! Had to go for a long trip just to improve the score. Seems like this safety score system is pretty flawed, but hopefully they will refine it over time.

Thinking of taping over my forward cameras every time I enter/leave the garage

 

[TexSam]

Waiting for my MYLR and checking on insurance through Tesla. I understand the Texas Plan (as opposed to CA.) but I was wondering if the model of Tesla effects the rate? I have seen the Tesla Insurance page on their website but I didn't see that the model effects the rate. It would seem logical that it should.

 

[ElectricNerd]

We have Tesla insurance for our M3 in Texas. I think things like hard braking are a little sensitive on the safety score. People around me drive like idiots and I’m constantly getting dinged for hard braking and the forward collision warning because people around DFW will cut you off often. . No wonder the insurance on our other vehicles is expensive in itself. I hate living here sometimes and driving is definitely part of it.

 

[DFW_MVP]

We have Tesla insurance for our M3 in Texas. I think things like hard braking are a little sensitive on the safety score. People around me drive like idiots and I’m constantly getting dinged for hard braking and the forward collision warning because people around DFW will cut you off often. . No wonder the insurance on our other vehicles is expensive in itself. I hate living here sometimes and driving is definitely part of it.

Agreed. I can't get a decent score in traffic without autopilot on.

 

[SilverString]

Tesla insurance is definitely skewed toward using FSD. After my first six months of 98-99 safety score, my premium has dropped to $75 per month. This is for comprehensive coverage, 100/300/100 liability, $1000 deductible, and rental car reimbursement.

 

[SalisburySam]

The real value of any car insurance, or any insurance for that matter, is what happens when a claim is filled. How much of a hassle is it? How quickly are claims resolved? What happens to your insurance costs after the claim? And so on.

Anyone have any experience with Tesla insurance AFTER a claim?

 

[SilverString]

The real value of any car insurance, or any insurance for that matter, is what happens when a claim is filled. How much of a hassle is it? How quickly are claims resolved? What happens to your insurance costs after the claim? And so on.

Anyone have any experience with Tesla insurance AFTER a claim?

Not yet, but you are right and we will see. Progressive was really good and hassle free with an $11k non-collision repair I had, but the insurance was very expensive and sky rocketed to ridiculous on the first renewal after the claim, so I switched when they wanted $400 per month vs the $75 I pay with Tesla Insurance for the same coverage.

 

[FoxSTL2HOU]

The real value of any car insurance, or any insurance for that matter, is what happens when a claim is filled. How much of a hassle is it? How quickly are claims resolved? What happens to your insurance costs after the claim? And so on.

Anyone have any experience with Tesla insurance AFTER a claim?

I believe it was here on TMC (likely the Model S or possibly Model 3 forum) where a Tesla Insurance client (don't believe it was TX though) had a claim, had a helluva time communicating with insurance because everything was contracted out to some other company, and when they finally DID get a check...it bounced.

 

[wonderinguys]

Agreed. I can't get a decent score in traffic without autopilot on.

I am glad I am not the only one in Dallas who is getting dinged on toward collision warning and hard breaking because of others .

 

[TexSam]

Tesla insurance is definitely skewed toward using FSD. After my first six months of 98-99 safety score, my premium has dropped to $75 per month. This is for comprehensive coverage, 100/300/100 liability, $1000 deductible, and rental car reimbursement.

Just curious, what caused the drop after having 98-99 scores the first six months? Start getting 100's?