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Who Is Offering The Best Insurance Rates?

Discussion in 'California' started by Monymgr, Oct 27, 2015.

  1. Monymgr

    Monymgr Member

    Joined:
    Oct 9, 2015
    Messages:
    39
    Location:
    West Los Angeles, California
    I have been a long time client of Auto Club of So. California, ACSC. Yesterday I learned they consider a Tesla as an Exotic vehicle and quoted me $3,795 for an annual policy with the coverage listed below. My driving record is clean, meaning no tickets or accidents. Shocked, I asked them to compare a 2015 Mercedes Benz S550 against my purchasing the Model S 70D. They responded I would be paying $1,100 more for the Tesla.


    My insurance coverage is:
    1. Bodily Injury - 500000 / 500000
    2. Property Damage - 100,000
    3. Medical Payments - 10,000
    4. Uninsured/Underinsured Motorist Bodily Injury - 100000 / 300000
    5. Deductibles:
    a. Comprehensive - 100
    b. Collision - 1000
    6. Car Rental Expense - 30
    7. Multi Line Discount applied (Home and Umbrella Policies)


    I would be interested in learning if your Carrier considers your Tesla an Exotic vehicle and the name of your Insurance Carrier if you are paying less than what I have been quoted.


    Thanking you in advance,
    Monymgr
     
  2. MrJones390

    MrJones390 Space Boat

    Joined:
    Jun 26, 2015
    Messages:
    251
    Location:
    Los Angeles
    Esurance is usually pretty cheap

    Screen Shot 2015-10-27 at 11.59.32 AM.png
     
  3. Monymgr

    Monymgr Member

    Joined:
    Oct 9, 2015
    Messages:
    39
    Location:
    West Los Angeles, California
    Thank you! I am having them send me a quote.
     
  4. JBrown4390

    JBrown4390 Member

    Joined:
    Nov 1, 2014
    Messages:
    23
    Location:
    Dallas, TX
    Their website does not have an option for a D, please share here what you find out.

    Thank you
     
  5. Monymgr

    Monymgr Member

    Joined:
    Oct 9, 2015
    Messages:
    39
    Location:
    West Los Angeles, California
    #5 Monymgr, Oct 27, 2015
    Last edited: Oct 27, 2015
    They do cover the 70D, the car I ordered. However here is what they sent me:

    Liability coverages Limits Premium
    Bodily Injury Limits. $250,000/$500,000. $290.00
    Property Damage Limit. $100,000. $262.00
    Permissive User Liability Buy-Back. I decline. None
    Medical and Funeral Services Payments. $10,000. $68.00
    Uninsured Motorist Bodily Injury Limits. $100,000/$300,000. $56.00
    Liability coverage total: $676.00

    2015 Tesla MODEL S

    Limits & deductibles Premium
    Uninsured Motorist Property Damage Limits. I accept. $4.59
    Comprehensive Coverage & Deductibles$100. $70.00
    Collision Coverage & Deductibles. $1,000. $192.00
    Rental Reimbursement $30/$900. $24.52
    Car coverage total: $291.11

    Thus they are stating coverage will run $967.11 for six months or $1,934.22 annually. What is disappointing, I requested the Agent to price the policy based upon the same coverage I currently have with the Auto Club. Instead he priced the policy differently. Tomorrow I will call again to see if they provide the higher coverage limits that I am looking for.

    Thanks again.
     
  6. CHG-ON

    CHG-ON Still in love after all these miles

    Joined:
    Jun 24, 2014
    Messages:
    2,766
    Location:
    Santa Cruz Mountains, USA
    In CA, I paid 1,200/yr for a 7YO Acura RDX and now pay 1,365/yr for a 1YO Tesla P85+ through Allied. Same carrier. I was shocked at how cheap it is. I expected 2,500.
     
  7. Monymgr

    Monymgr Member

    Joined:
    Oct 9, 2015
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    39
    Location:
    West Los Angeles, California
    Who is Allied? I've never heard of them.
     
  8. Monymgr

    Monymgr Member

    Joined:
    Oct 9, 2015
    Messages:
    39
    Location:
    West Los Angeles, California
    Update: State Farm and Amerprise, both A+ Rated are providing lower rates than Auto Club of So. California. I contacted Esurance again today and the rep pulled up my quote and made the adjustment. They are a subsidiary of Allstate.
     
  9. CHG-ON

    CHG-ON Still in love after all these miles

    Joined:
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    Location:
    Santa Cruz Mountains, USA
    #9 CHG-ON, Oct 28, 2015
    Last edited: Oct 28, 2015
    Too lazy to pull out the ratings sheet which is buried in my pig stye of an office. But as I recall, Allied is licensed and highest rated in CA. PM me if you want a broker reference. I trust my broker with all my insurance, both personal and corporate. They are outstanding and no other insurance company could come even close to what they put together; directly or through a broker.

    I always work through a broker, rather than going direct. I get much, much better service and they know how to work the carriers to my advantage. I never have to call an 800 number and deal with somebody who could care a less about me. They aren't paid on reducing claims.
     
  10. MidValleySkillz

    Joined:
    Sep 19, 2015
    Messages:
    21
    Location:
    Santa Monica, CA
    I use Ameriprise through Costco and its $620 for 6 months. No accidents or tickets in 6 years. They easily beat everyones quote. Esurance, All State, Geico, ect.

    2015 Tesla MODEL S
    Liability coverages Limits Premium
    Bodily Injury Limits. $100,000/$300,000. $163
    Property Damage Limit. $100,000. Included
    Medical expenses. $5,000. Included
    Uninsured Motorist Bodily Injury Limits. $100,000/$300,000. $34.00

    Uninsured Motorist Property Damage Limits. I accept. $5
    Collision Coverage & Deductibles. $1,000 $318
    Comprehensive Coverage & Deductibles$100. $87
    Rental Reimbursement $30/$900 $13
    Car coverage total: $620

     
  11. neptune2000

    Joined:
    Jul 7, 2015
    Messages:
    135
    Location:
    Redondo Beach, CA
    Yep. I have been with AAA for 25 years and I just dropped them after the hugely expensive quote they gave me. And I have 6+ different discounts and an unblemished record, still $3,400+.

    I went with this agent, and I am down to about $1,400 / year, and I will go lower after 6 months and less than 9,000 miles driven:

    Cheralla Bussey
    Sales Agent
    LA Member Choice Insurance Services, LLC
    716 W. First St
    Los Angeles, CA 90012
    T 626 204 6798
    F 213 680 0815
    [email protected]
    Lic #0K15526
     
  12. Monymgr

    Monymgr Member

    Joined:
    Oct 9, 2015
    Messages:
    39
    Location:
    West Los Angeles, California
    I must say after researching everyone's input, Costco' Ameritrade Insurance came out the best. I combined my Auto, Homeowners and Umbrella policies and ended up saving over $832 for 6 months and if the auto doesn't change in 6 months then the savings will be $1664 over my existing Auto Club policies!

    The most expensive Insurance companies were, Auto Club of So. Calif, Farmers, State Farm.
     
  13. GuyGadois

    GuyGadois Member

    Joined:
    Oct 5, 2015
    Messages:
    127
    Location:
    SLO
    I use AAA for our home policies and they were out of the world with cost (AKA HIGH). We use GEICO for our auto policies and they were more down to earth. GEICO quoted an annual premium of $1384 for this coverage...

    My insurance coverage is:
    1. Bodily Injury - 300000 / 500000
    2. Property Damage - 100,000
    3. Medical Payments - 5,000
    4. Uninsured/Underinsured Motorist Bodily Injury - 300000 / 500000
    5. Deductibles:
    a. Comprehensive - 500
    b. Collision - 500
    6. Towing
     
  14. neptune2000

    Joined:
    Jul 7, 2015
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    135
    Location:
    Redondo Beach, CA
    It is actually Costco's Ameriprise:

    Ameriprise Auto & Home Insurance for Costco Members

    I agree that by own experience that AAA and State Farm are very expensive in California, when trying to insure a Tesla Model S.
     
  15. asudan

    asudan Member

    Joined:
    Oct 16, 2015
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    Location:
    Phoenix, AZ
    This appears to be state minimum coverage. Not advisable in my opinion. What do 100/300k rates look like?
     
  16. rjb1101

    rjb1101 Member

    Joined:
    Aug 26, 2015
    Messages:
    10
    Location:
    Los Angeles, CA
    I'm getting a lot of companies that won't even offer insurance for a Model S.
     
  17. rjb1101

    rjb1101 Member

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    Aug 26, 2015
    Messages:
    10
    Location:
    Los Angeles, CA
    Has anyone heard of RoadGuard Insurance based out of Glendale before? They gave me a quote for $600 cheaper per year than any other company.
     
  18. Monymgr

    Monymgr Member

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    39
    Location:
    West Los Angeles, California
    #18 Monymgr, Dec 6, 2015
    Last edited: Dec 6, 2015
    Be careful when purchasing insurance from companies you don't know. Two simple rules, first must be Accredited in California and second check their rating. Do you really want to work with a company that does not have a high rating? While hopefully we will never get into an accident, as you know it can happen. That's when you really need your insurance company to come through for you. Non-Accredited and companies with weak ratings are out there for a reason. Do your homework and read all the posts below to get additional insight.

    To to research an insurance company's rating go to A.M. Best web page at A.M. Best Company.
    Monymgr
     
  19. CHGolferJim

    CHGolferJim Member

    Joined:
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    Messages:
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    Location:
    Chapel Hill, NC
    Be sure to check the various TMC threads about insurance. Personally, I would not go with the lowest quote on anything, consider the track record on service, responsiveness and claims fairness.
     
  20. neptune2000

    Joined:
    Jul 7, 2015
    Messages:
    135
    Location:
    Redondo Beach, CA
    #20 neptune2000, Dec 18, 2015
    Last edited: Dec 18, 2015
    Well, after 3 months, with no reasons given, Travelers cancelled my policy ($1,700 / year, I have an unblemished record for the past 10 years). So I tried all the ones listed here: Esurance.com (they now will not insure Teslas) , Ameriprise Auto (their premiums have gone up on Teslas), Progressive (not a bad quote), but the one that got me the best quote was ... GEICO!

    With GEICO the whole process was online, from quote, to signing the papers electronically, with NO step to go to the Underwriters to approve the quote. They automatically found most of the discounts I qualify for. The whole process took no more than 30 minutes. Highly recommended.
     

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