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Which insurance companies to get quotes from?

Discussion in 'Model S' started by sumitkgarg, Jun 9, 2018.

  1. sumitkgarg

    sumitkgarg Member

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    I am currently insured with Geico but because of an at fault injury accident by one of the household members, they have raised my premium twice now. They are also moving my policy from Geico to Geico Casualty - whatever that means. The combined increase is about 50% of original policy price and it might be reasonable given the accident logistics, but I'd like to shop around and see if I can get a better deal somewhere else. Any advise on which companies to get quotes from? Is it even worth trying to shop around for a cheaper insurance than Geico?
     
  2. ucmndd

    ucmndd Active Member

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    Of course it’s worth it. The range of quotes you’ll get for a Tesla, specifically with an accident in the household, will be gargantuan. This is a case where I think a competent insurance broker would earn every penny and save you a lot of headache.
     
    • Helpful x 1
  3. NOLA_Mike

    NOLA_Mike Grouchy

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    I did a bit of shopping when State Farm slowly but steadily raised my rates from my initial Model S in 2013 (which was about the same as my previous cars at that time) until they doubled that rate by 2016 (no accidents or tickets on my part - just a reflection of the risk they think insuring a Tesla is). While I certainly didn't check with everybody out there I found Progressive to have best rates of all that I checked and that's who I've been with for the past 2 years.

    Mike
     
    • Helpful x 1
  4. Need

    Need Active Member

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    From what I read here, the cheapest insurance for Tesla in California seems to be Costco Ameriprise, USAA (if you qualify), Progressive, and Geico. Not necessary in that order.

    It is always worth it to shop around. 15 min can save you... (wait now I sound like a Progressive insurance commercial! LOL)
     
    • Like x 1
  5. Tim-in-CA

    Tim-in-CA Member

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    I switched from Mercury to Costco Ameriprise in California and my rate for 3 cars was cut in half. Albeit, just one driver and no tickets or accidents. YMMV. ;)
     
    • Informative x 1
  6. sumitkgarg

    sumitkgarg Member

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    Got a couple of quotes so far...

    - Progressive - more expensive than Geico for similar coverages
    - Ameriprise Costco - declined coverage because of the accident. I will try calling them as well to see if that changes anything

    I have also reached out to my home policy agent (who works with multiple companies) to get his help shopping around for me.
     
  7. PhaseWhite

    PhaseWhite Member

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    I too would recommend looking for a good independent brokerage that can work for you to find you the best price. They can find options with smaller providers that you might not even know exist.
     
    • Helpful x 1
  8. mbhforum

    mbhforum Member

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    Geico just jacked up my rates $300 a year, so I am now shopping around after flirting with leaving them when I bought the Tesla. I did just get a quote from Progressive for back to what I was previously paying with Geico and am considering it.

    I contacted this broker below as she was mentioned by several in another post. I am waiting quotes from her:

    Jennifer Silva l Vice President, Personal Risk Advisor
    Aon Private Risk Management Insurance Agency, Inc.

    [email protected]
     
    • Like x 1
  9. Hood7

    Hood7 Member

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    I’ve had Electric Insurance Co. for about 12 years, on home and autos, and have been very pleased with their service (never said that about any insurance co. before). When I got my S a few months ago, I added the S to that insurance. I mean, it’s ELECTRIC Insurance !!! Can’t hurt for you to get a quote - Coverage for your auto, home & more l Electric Insurance

    And no, I have no stake at all in Elec Ins.
     
    • Informative x 1
  10. NOLA_Mike

    NOLA_Mike Grouchy

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    FYI (not completely relevant to the topic but FYI all the same): Car insurance rates by state: Most and least expensive

    Louisiana and Michigan go back and forth vying for the crown of "highest car insurance rates in the nation". Sometimes I really hate this state...

    Mike
     
    • Informative x 1
  11. mbhforum

    mbhforum Member

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    Just finished working with Jennifer from Aon and she got me a Traveler's policy with comparable coverage to Geico $700 less than what I pay now. I ended up also moving my Home owner's and purchasing an Umbrella policy also through her. She's been great to work with, highly recommend!

    I haven't seen anyone on these forums with Traveler's, so I have no idea what to expect if I get into an accident, but I read a lot of horror stories with Geico/Tesla, so figure that won't really matter at this point.
     
  12. David.85D

    David.85D Member

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    We just switched from Geico to Erie. Saved about 20% with slightly better coverage. Got the whole, home - 2 cars - umbrella package.
     
  13. Texas

    Texas Supporting Member

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    USAA if you qualify. My rates for a 2015 P85D have not been out of line with the cost of the car.
     
    • Like x 1
  14. sknaf

    sknaf Member

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    ++ USAA. We shopped, and they beat the best.
    No accidents, great credit rating.
     
    • Like x 1
  15. Axtrader

    Axtrader Member

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    +++1 USAA. been a member for 30 years and regularly shop rates when costs creep. Rates can’t be beat and more importantly, when you need to file a claim, they are responsive, quick and make the claims process as simple as possible.
     
  16. Kuhz

    Kuhz Member

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    Find an insurance broker who can look at multiple companies. Every situation is different and insurance companies look at them differently as well. Also bundling policies to include your home/other autos/boats/etc will save you quite a bit of money. I pay $750/yr for my ‘17 MS
     
  17. sumitkgarg

    sumitkgarg Member

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    I don't qualify for USAA, unfortunately. Some agent who was mentioned in one of the other threads got a bunch of quotes for me, all more expensive than my current insurance. Still shopping around...
     
  18. Plan B

    Plan B Active Member

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    Nationwide just raised their rates for Tesla's but I would try them anyway. Can't hurt.
     
  19. fasteddie7

    fasteddie7 Member

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    What ever happened to the "Tesla specific" insurance that liberty mutual I believe was the underwriter for? Has anyone had any luck getting a reasonable deal from that or was it just headlines for a while and now is gone?
     
  20. tpham07

    tpham07 Active Member

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    its still there, and they offered me garbage rates. its underwritten by liberty mutual. just google Tesla insurance and its the first result.
     

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