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Tesla S Insurance Premiums

Just wanted to hear what everyone is paying for insuring their Model S in California. AAA is charging me $4053 a year!! That is crazy! I have seen some people getting insurance for $1800-2200. When I got my bill the other day I almost fell off my chair. Let me know if their are better rates out there and companies! Thanks

I'm also with AAA, I checked this weekend and I don't think that they know the difference between the 40, 60 85 and P85. I have a 40, but it looked like they were going to charge for the P85. Our current MB C320 is $1,550 per year and the S would be $3,000. My Kia Optima is around $750 per year and my S would go to $2,000 per year. I might be checking around also.

I had a lot of trouble finding insurance, but I heard from some others in the forum that they had good luck with Geico.

My previous insurance company said $1,200 / 6 months but then when I was about to have the car delivered and pay for the insurance they said $2,500 / 6 months because there were too few 2013 models on the road. Idiots.

I tried a bunch of other companies with no success. I ended up with Geico for $600 / 6 months. I'm in MI with nothing on my record.

One snag I ran into with Geico is that they would only insure the Model S for existing customers. I'm not sure if other people ran into this because I hadn't heard this before, but I signed up my wife's Prius and added the Model S online 15 minutes later.

I am also with AAA NorCal. I have 2 other cars on the policy plus my P85 and my annual premium is $3200. Mine must be so low because I live in Oakland ;-)

As others have noted, GEICO price is very reasonable at around $1000/year - less than half of Mercury. There are other threads with detailed information:

http://www.teslamotors.com/forum/forums/model-s-insurance
http://www.teslamotors.com/forum/forums/insurance
http://www.teslamotors.com/forum/forums/insurance-model-s

I just finihed during insurance research with Geico, State Farm, Farmers, Progressive and Allstate.

First, my husband and I are 51 and 46, no accidents, no tickets for past 5yrs and live in Norcal.

Hands down, Geico gave us the best rate 1400/yr Model S and my husband's 2010 mini S convertible. Progressive and Farmers were came in around 1800/yr.

Allstate made it clear they didn't want to insure the Model S. My husband was disappointed since he has been with them for over 20 years.

I went online first then confirmed the rate and the procedure for insuring the Model S with a local agent in San Jose. He also gave us a rate for insuring our house. Bye, Bye Allstate.

Insurance rates vary greatly by state, age, accident history, etc., but in my case Nationwide quoted me over $800/6 months. State Farm quoted me $360/6 months for my existing MB E550 and $420/6 months for my new P85! Needless to say I switched to State Farm.

It really is strange how different the answers are based on what state you insure the car. I am with Allstate in AZ. I have had no problems at all getting insurance through Allstate for my P85. I pay $560 for 6 months which is very reasonable. We have three cars, plus home plus personal umbrella insurance with Allstate. The process was no different than with any other car we have ever insured.

Illinois average around 7-800 with State Farm

rates varies a lot for the Tesla between different insurance companies. Farmers wanted $1,600 for 6 months. I switched to progressive for $460/6 months.

Rates vary with way too many factors that go beyond just the state one insures in. I got a quote of $615/year for Model S from AAA in Colorado. This will be third car on my policy and I have all of my insurances with AAA.

I have been quoted 399 every 6 months with state farm with 1 point on my wife's record. We also have our home and an umbrella policy with them here in northern California.

I had no issue getting insurance on my Model S -- I just called up State Farm and sent them my preliminary MVPA (they didn't have it in their system and couldn't find info on it), and they quoted me a bit over $500/6mos (compared to a bit over $400 for the LEAF which costs half as much), so I was pretty happy. This is in Atlanta, GA.

I was quoted $1304 per year by AAA with 250 deductible and 1104 with 500 deductible (NorCal)

I'm in Maryland and State Farm asked $498 per 6 months for my 60 kW Model S. I didn't feel that was unreasonable based on what I've read on this forum. Rob F

MetLife in Ohio for a 60kWh with some options - $775/yr no at fault accidents/married rate. Although I realized that I am eligible for USAA since I served in the military and will probably be switching soon since the pricing would be competative and they are highly rated.

Forgot to note: neither one could bring up my VIN in their systems, but were able to insure me based on asking a few questions about the car and the full cost it would take to replace the vehicle.

State Farm just gave me $97/month. We have our Home owners with them and another car. NP85 Grey/Grey/Pano/Air/Sound/Tech/21"/Twin. Did it over the phone on the drive to go pickup the car.

Picked Up my Tesla S today in Pennsylvania. I have had insurance with State Farm for 43 years. Multiple Cars, Homeowners, and Excess Liability. Full Coverage with no fault. Annual Premium of approx. $850.00

Remember guys and gals, insurance varies widely by state and regulations. I car in one state may be double in another. Also, you typically get best rates when you carry multi-line and multi-year discounts with a good company. I have been with State Farm since 16 and they are too good to change. They give good rates, but also cover very well if God forbid an accident or even happens. Ie. I had my wife's car and mine damaged by hail years ago. Progressive gave me 1000 for my wife's car to be repaired by paintless dent removal and it was heavier damaged, whereas State Farm totaled my car and paid out 4x that much for less damage! Just shows you pay for what you get. Be careful of the Geico's and progressives, while they are cheaper, you don't get the quality coverage that you would want on a potentially 100K car.
Just my two cents.
Jack

Has anyone seen the movie, "Cedar Rapids"?

Adding some data points to the thread, although as said above it varies a lot person to person and depending on specific coverage:

GEICO: $1560/year
Progressive: $1800/year
State Farm: $2500/year

For comparison, GEICO is charging me $1200/year for my 2010 Audi A5.

This for California btw.

Meloche in Canada is charging me $658.85 annually for BOTH 1999 BMW 328i and 2013 Tesla model S!

I have AAA. San Jose branch on Steven's creek Blvd. Gave them my VIN number and looked it up on their computer. $1100 per YEAR for Tesla 85Kwh, non-performance.

I also have one other vehicle.

I have AAA in NorCal. Model S plus Honda CRV for my wife and I, $1700 per year (Geico was a little more for the same coverage).

Carefree,
How is this possible? I live in Scottsdale and have been with Allstate for 10+ years. Also insure 3 cars, home, and personal umbrella. They recently quoted me $865 for 6 months. How did you manage a $300 discount?

Carefree | March 11, 2013new

I am with Allstate in AZ. I have had no problems at all getting insurance through Allstate for my P85. I pay $560 for 6 months which is very reasonable. We have three cars, plus home plus personal umbrella insurance with Allstate. The process was no different than with any other car we have ever insured.

Andrew, go back to your agent and tell him that a P85 in Carefree just got a quote (and the insurance papers) for $560 for 6 months. Years ago I threatened to walk away from Allstate after having been a customer for decades and all of a sudden my rates were slashed by almost 30%. You have to push these guys every now and then.

My Allstate agent is Jim Kehoe.

I am so pissed off at Allstate.

Got a quote from Allstate in October on a 60kWh full coverage $850/6months in Long Island.

I upgraded my reservation in December to a P85 and took delivery last month. Now the cost is $2600/6 months.

Value of the car went up 33% but premium quadrupled??? This does not make sense unless Allstate changed their minds about wanting to insure the Model S.

Just checked online and Progressive is $1300/6 months.

Bye Bye Allstate!

Just insured my 85 with StateFarm. Price went up $210 over my old 06 Prius for 6 months( Prius ~360/6mo. - model s ~570/6 mo)

UPDATE POST FROM ABOVE:

Just signed up with Geico $776.00/6 months
Wow just a reminder to shop your insurance!!

>I am so pissed off at Allstate.

>Got a quote from Allstate in October on a 60kWh full coverage >$850/6months in Long Island.

>I upgraded my reservation in December to a P85 and took delivery >last month. Now the cost is $2600/6 months.

>Value of the car went up 33% but premium quadrupled??? This does >not make sense unless Allstate changed their minds about wanting >to insure the Model S.

>Just checked online and Progressive is $1300/6 months.

>Bye Bye Allstate!

I am very happy with my USAA rate, and in the DC area, that's saying something. The agent on the phone actually went euphoric when he heard I was getting a Model S, turns out his uncle was considering one, so he researched it for him and knew all about it.


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