Tesla Issued Insurance

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Tombolian

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#61
I got a quote on Wednesday 8/28 matching exactly what I have with National General and it was 152% higher than what I currently pay ($227/mo instead of $90/mo). Today, it's quoting me for $132/mo, 46% higher than my current rate.
Keep in mind that with your current policy, you are potentially receiving discounts for multiple-car, length of time insured with your company (loyalty discount) etc...
Unless your Tesla is your only car, I don't see how they (Tesla) will be able to compete.
...and I was really looking forward to this... oh well, it's not the end of the world.
 

MacInfoSys

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#62
I am currently looking to move away from AAA since they are killing me on their Tesla rates. I checked many different providers online and I am starting to lean towards Nationwide for my Navigator with my wife and I and Tesla for my Model 3 only. I checked the Costco Ameriprise which was the LOWEST even with my Telsa on the plan but I have heard a lot of horror stories on people's rates going up at a later time and more importantly getting screwed on claims!

Any input from anyone with either Amica or Nationwide ? Looking to pull the trigger on leaving AAA next week. Tesla pricing is pretty good for the coverage I am looking for 500k w/ low deductible and I am hoping / assuming the rental cars within the plan would be the Tesla own cars since I would assume I would be having Tesla do the repairs also ??
 

RichEV

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#63
Tesla should give a discount for FSD. It would show they believe in their product and give a people another reason to upgrade. I feel it would get them down the path of "you don't have FSD, well that will cost you"
I wonder if, at some point, Tesla will offer a discount for "allow cabin camera to be enabled"?
 

ibgeek

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#65
My Quote came in at over 50% less than what Progressive was trying to steal from me each month!
This is for Northern California. Yes there are some differences between them, but not enough to account for the huge difference in price. Also my Tesla policy does have loan payoff included. It was $3.00 a month.


inkedtesla-insurance-comparison_li-jpg.28912
 
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Tombolian

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#68
My Quote came in at over 50% less than what Progressive was trying to steal from me each month!
This is for Northern California.


View attachment 28912
Agreeing with the previous two posts (you aren't comparing correctly), I took the time to check your math and, although I was just quoted at roughly $108/month with your Tesla numbers (I'm either being charged more because I'm in the Bay Area, or else they know how I drive ;-), or probably because of my model), but even adjusting for your Progressive coverage, it still came in considerably lower at $121/month. Your quote should be about $18 less than that. Not bad.
 

ibgeek

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#69
Your right, I did adjust a few things down a bit, but I also got a few new things like road side assistance and towing. My Tesla policy also has loan payoff although I had to call and have that added after the quote was done. Price difference was $3.00. I challenge to you find $1000.00 a year in differences though. In fact, the difference in cost for Tesla if I wanted the uninsured motorist to be the same was $5.00 a month. I might still change that. And the deductible being $1000 rather than $500 was just because I saved a couple bucks. Apples to Apples cost was $98.11 a month compared to $200.31 a month.

I live in Hayward, CA and I'm a 49 Year old Male. Also make sure you selected the 8K miles a year. That makes a huge difference.
 

Talent

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#74
Mine was $96/mo vs. my current rate of $120/mo with Nationwide. But I’m paranoid with Tesla’s tracking and handling of claims so I’ll probably stay.
 

ibgeek

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#76
Mine was $96/mo vs. my current rate of $120/mo with Nationwide. But I’m paranoid with Tesla’s tracking and handling of claims so I’ll probably stay.
The insurance is managed by Tesla but it is run by a real insurance company. I've called and talked to them post policy purchase, and the customer service was great. My phone call was answered in about 2 minutes and the individual on the other line knew what he was talking about. Very satisfied so far.

Also, if you think about the most common complaints people have with Tesla, it has to do with delays in getting parts due to the approval of parts and logistics. Well Tesla is not going to have all of the red tape that a 3rd party insurance company needs to jump through. And parts distribution has drastically improved since right around the Q2 report. This is due to a reorganization of parts distribution and several other service infrastructure changes.

I do understand your concerns, but in this case since this is not just some company saying "hey, I think I'll start an insurance company" I don't think you have that much to worry about. From Tesla's side, the new manager is someone stolen from Liberty Mutual. And the actual insurance co is run by State National Insurance Company.
 

Mike

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#77
Also make sure you selected the 8K miles a year. That makes a huge difference.
Up here in Canada, I just adjusted my coverage from 20,000 kms per year to 28,000 kms per year because I find I am putting on much more distance driven per year than with my Prius. Imagine that :)

That upgrade was $CAD 53.00 for a year.
 

fritter63

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Atascadero, Ca
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#79
Just did a quote with my wife's model 3, DL# and stats (Central Coast of California), and got quoted as $86/mo, almost twice what we are paying (Wawanessa insurance, $47/mo) for each of our Model 3's.

Thanks, but no thanks.

Also annoying that there is no way to select both cars and enter the information for the whole "family" at one time.
 

Horrible

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Sep 15, 2019
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New Orleans
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#80
I posted this but I never got a response. I know this insurance is only available in California but I’d like to know those that live in California and purchased the Tesla insurance how does it compare to the insurance you had before. I am hoping that they get it in other states, thank you