Want to buy a Model 3, insurance is crazy expensive

[cerealzealot]

Hello,

So I'm 25, never had a car before (I'm not American, but I live in California right now) and want to buy a Model 3.

I tried a few quotes online and I'm seeing some crazy numbers, $300/month minimum and I'm seeing some go to $700 (ameriprise).

Does anyone know how I could get this lowered down? Is there any way to negotiate? Would Tesla insurance offer me a better rate? I'm working remote (not just because of the situation, my work is remote), so I wouldn't drive it that much (if that matters).

 

[M3BlueGeorgia]

Sorry, but a 25 year old with no driving history is going to pay through the nose for auto insurance.

Good luck!

 

[RayK]

Assuming that you're male, under 30, single, living in L.A. and you want to buy a "luxury" car that's expensive to repair, you're among the highest to insure.

As a point of reference, I'm 63, married for many years, driving for over 45 years and have 3 cars on my policy (2011 Nissan Murano, 2018 Honda Ridgeline), I'm paying $1047 for 6 months with Allstate for the Model 3.

edit: Ah, I forgot to include my coverage: Bodily injury $100K person/$300K each occurrence, Property damage $100K, Uninsured motorist bodily damage $100K person/$300K each accident, Coordinated medical protection $5K, Replacement cost option.

 

[acarney]

Progressive was the cheapest for me if you haven’t checked them out yet. But I had a driving history and am in my early 30s.

 

[cerealzealot]

It's crazy

Progressive is $288/month with the lowest coverage ($15K/$30K/$5K).

 

[cerealzealot]

Is there any way I could negociate? If I can show proof I'm working remote for example?

 

[M3BlueGeorgia]

It's crazy

Progressive is $288/month with the lowest coverage ($15K/$30K/$5K).

That's pretty good for your particular situation, though I'd strongly suggest at least 5 times the coverage (which is probably only a small amount extra)

After a year of driving experience, provided you avoid speeding tickets and crashes, the rates will quickly begin to drop.

 

[MXLRplus]

In California, check out Tesla Insurance. Saved us $$$$.

Note that due to auto burglary rates, areas like LA and SF are very expensive for all car owners. Auto burglary is a ticket now. A prisoner was released early due to Covid, and was busted 3 times in one day for auto burglary. Finally a Grand Theft Auto allowed for his arrest.

 

[RayK]

Is there any way I could negociate? If I can show proof I'm working remote for example?

If that's to declare/certify your annual mileage estimate, that could help. But really, being older and having more driving experience will probably be your best way to reduce your insurance cost for any company you get quotes for.

And I just got back about $45 for the month of April due to the stay-at-home orders. Since I'm driving less, and therefore being exposed to accidents less, Allstate (and other car insurance companies) has refunded me about 15% of my premium over the six month coverage.

 

[cerealzealot]

In California, check out Tesla Insurance. Saved us $$$$.

How can I get a quote for Tesla Insurance? On Tesla's website you need your Tesla VIN to get an actual quote.

 

[MXLRplus]

How can I get a quote for Tesla Insurance? On Tesla's website you need your Tesla VIN to get an actual quote.

That I don't know. Find a VIN? Here's a VIN from an inventory Model 3 used car: 5YJ3E1EA7JF005284

 

[Matsayz]

Try to find an insurance Broker, they'll shop your information around to all the companies they work with (usually 30+) and find you the best rate. But like everyone else said, you're pretty much screwed because of your age/location/vehicle.

As MXLRplus said, you could try Tesla's in-house insurance but that's a crapshoot. Most insurance companies can pull a generic VIN for the make/moldel vehicle you "want" to insure.

 

[jeremymc7]

Switching from my 2012 Audi A7 to my 2020 Model 3 raised my 6 month policy less than $10

Good driver
Distinguished driver
Under 50
California

 

[joebruin77]

A couple ways to find cheaper auto insurance:

1) Are you a member of Costco? Costco offers auto insurance through an affliated company and may offer lower rates.

2) Are you a member of AAA? They may offer lower rates.

3) Are you a member of any professional organizations? I am a member of one and Liberty Mutual offered special rates lower than those offered to the general public.

4) Here is an interesting website with a list of companies that give you a discount for low mileage driving:

https://www.thezebra.com/auto-insurance/policies/car-insurance-telematics/

5) Finally, if you have any other type of insurance, such as renters or homeowners insurance, check with that carrier. They may offer a discount if you have multiple policies.

 

[P3dStealth]

He's not from USA. We are number 1 for highest insurance rates. This looks like normal price to me. Wait to you see your first hospital bill...

 

[C141medic]

Does anyone know how I could get this lowered down?

Become a few years older. Other than that unless you’re making a six figure income and have no debt, be prepared to pay out the nose.

 

[RayK]

Become a few years older. Other than that unless you’re making a six figure income and have no debt, be prepared to pay out the nose.

All of those things applied to me up to last September and I was still paying a high price for insurance. My premium went up almost $200 for this next period. (One of) The price we pay to live here in CA.

 

[ellett]

Talk with insurance companies about if they offer discounts for completion of a safe driver course. Especially if you're young (or old) that can help. Some companies offer this type of discount; others don't.

 

[Pa5001]

Assuming that you're male, under 30, single, living in L.A. and you want to buy a "luxury" car that's expensive to repair, you're among the highest to insure.

As a point of reference, I'm 63, married for many years, driving for over 45 years and have 3 cars on my policy (2011 Nissan Murano, 2018 Honda Ridgeline), I'm paying $1047 for 6 months with Allstate for the Model 3.

edit: Ah, I forgot to include my coverage: Bodily injury $100K person/$300K each occurrence, Property damage $100K, Uninsured motorist bodily damage $100K person/$300K each accident, Coordinated medical protection $5K, Replacement cost option.

Is that a CA thing? I am paying $850 a year for the same coverage. 32y/o. no driver history.

 

[buttnutt]

I switched from geico to progressive when I got my 2020 Sr+. My price went down 60$ every 6 mo. Now paying 490$/6mo for 250/500/100 10k medical and 750$ deductible. 38 in Colorado with no wrecks or tickets.