View Full Version : Insuring a novel vehicle like a Tesla
efusco
09-07-2009, 02:14 PM
Hey folks, anyone with experience insuring an EV or a conversion. Just curious about general experiences with rates and such.
When I get my Model S I'll likely be one of the only USAA insured Tesla owners and wouldn't expect them to have standard rates determined for the Model S. They almost assuredly won't have crash test ratings either. So how is my insurance rate determined? Is there some formula they use for non-conventional/production vehicles?
On a side note, what are people paying to insure the Roadster vs similar conventional 2 seater sport cars?
dsm363
09-07-2009, 04:35 PM
I'll be number 2 USAA insured Model S owner then so I'd love to find out too.
rsquared99
09-07-2009, 04:51 PM
I insured my 2010 Roadster with USAA without any hassle. It was not in their file when I did so, but it didn't take them long to come up with a rate. And I read on the owners site of at least one other USAA owner of a Roadster before I signed up for mine.
efusco
09-07-2009, 05:48 PM
I'll be number 2 USAA insured Model S owner then so I'd love to find out too.
Dude, you're a SIG...I'm a lousy R...you'll be first so I'll take my tips from you!
efusco
09-07-2009, 05:49 PM
I insured my 2010 Roadster with USAA without any hassle. It was not in their file when I did so, but it didn't take them long to come up with a rate. And I read on the owners site of at least one other USAA owner of a Roadster before I signed up for mine.
I assume the rate seemed pretty fair compared to comparable vehicles?
Tdave
09-08-2009, 06:00 AM
My 2010 Roadster Sport is insured with State Farm for $238.20 per 6 months. That's with discounts for multi-car and also having my homeowners and umbrella policies with them, and good driving record.
dsm363
09-08-2009, 08:01 AM
Dude, you're a SIG...I'm a lousy R...you'll be first so I'll take my tips from you!
Ah, you're right. USAA is a good insurance company and bank. I've never been more happy with an insurance company so I'm sure the rate will be ok. Probably not lowest but fair.
efusco
09-08-2009, 01:33 PM
My 2010 Roadster Sport is insured with State Farm for $238.20 per 6 months. That's with discounts for multi-car and also having my homeowners and umbrella policies with them, and good driving record.
Gotta love USAA...I'll have the same 'extras', so would expect a similar rate.
efusco
09-08-2009, 01:34 PM
Ah, you're right. USAA is a good insurance company and bank. I've never been more happy with an insurance company so I'm sure the rate will be ok. Probably not lowest but fair.
Absolutely, they've been nothing but outstanding for us as well. May be the single best benefit I got out of my days in the Guard.
My 2010 Roadster Sport is insured with State Farm for $238.20 per 6 months. That's with discounts for multi-car and also having my homeowners and umbrella policies with them, and good driving record.
Hmm, I just switched to State Farm with House + umbrella and am at $900+/year.
I found that I have three points... something to do with manuvering... Pfft!
But still, why double... for a normal model?
I'm in NJ and include travel to work and back.
How do your details compare?
Tdave
09-08-2009, 07:03 PM
Hmm, I just switched to State Farm with House + umbrella and am at $900+/year.
I found that I have three points... something to do with manuvering... Pfft!
But still, why double... for a normal model?
I'm in NJ and include travel to work and back.
How do your details compare?
I'm not in NJ. That's probably it right there. I have a clean driving record, too. My other details are the same. The Roadster is listed as my primary vehicle that I commute with (14 miles each way -- wish it was longer now that I have the car :-)
Those points on your record can be very costly.
I've asked State Farm to break it down. He indicated that it should be in the $700 range without the points; that's still significantly higher.
I'll await his comments.
... I'm paying $400ish for an Audi A6 and the same for a Honda Insight so the 700ish with no points seemed fair at the time.
...Three points... what kind of world is it where you get three points for turning round in the road?... and how was I suposed to know that you're expected to carry your insurance docs wherever you go and that you have to re-register your car every single year? I registered it when I bought it... done, registered.
rolosrevenge
09-09-2009, 11:41 AM
My 2010 Roadster Sport is insured with State Farm for $238.20 per 6 months. That's with discounts for multi-car and also having my homeowners and umbrella policies with them, and good driving record.
Wow! That's only twice as much as my crusty old 1990 Ranger that almost is never driven. I didn't realize insuring such a car as a roadster was so affordable.
My 2010 Roadster Sport is insured with State Farm for $238.20 per 6 months. That's with discounts for multi-car and also having my homeowners and umbrella policies with them, and good driving record.
My 1990 Camry is $343.05 for six months with USAA CASUALTY INSURANCE COMPANY in upstate NY. That is with an additional fee of $48.07 for being licensed for less than three years.
PlugInSure - homepage (http://www.pluginsure.co.uk/plug_index.htm)
TXjak
12-02-2012, 03:46 PM
PlugInSure - homepage (http://www.pluginsure.co.uk/plug_index.htm)
(This link takes you to a UK insurance Co.)
FlasherZ
12-02-2012, 05:59 PM
State Farm quoted me 620ish per 6 mos and it ended up being 580ish when it was processed.
That is 250/500, 0 deduct comprehensive and 500 deduct collision plus rental car coverage.
My quote to insure a base Model S was $1150 for six months with Progressive, it s was $2250 with Liberty Mutual and State Farm could not give me a quote because of no VIN. I pay $539.00 for 6 months for my 2013 Volvo S60 T6, which is fully loaded.
AndyM
12-06-2012, 01:41 PM
GDH, that number seems excessively high to me. I'm an existing State Farm customer, and was quoted $563.64 for six months, using their online tool, without needing a VIN.
Coverage includes:
$250K per person/$500K per accident bodily injury, and uninsured motorist
$100K per accident property damage
$25K personal injury protection
$250 deductible (comprehensive and collision)
GDH, that number seems excessively high to me. I'm an existing State Farm customer, and was quoted $563.64 for six months, using their online tool, without needing a VIN.
Coverage includes:
$250K per person/$500K per accident bodily injury, and uninsured motorist
$100K per accident property damage
$25K personal injury protection
$250 deductible (comprehensive and collision)
Here's what I got from Liberty Mutual.....
Hi Grant,
I have a summery below of the estimated for your Model S. We are 1216.50 every months. Please let me know if you have any questions. –Randy
Annual Policy
Liability 100/300/100 $582.00
PIP $90.00
UM 100/300 $66.00
$500 Comp $390.00
$500 Collision $1266.00
Rental 30/900 $33.00
Tow 50 $6.00
Total: $2433.00
Randy #####
Auto/Home/Life Insurance
Sales Representative
Liberty Mutual Insurance
Robert.Boston
12-07-2012, 09:29 AM
I'll reiterate my caution that it's nigh-on impossible to draw any inference about your rates from what others are being quoted. It matters enormously where you garage your vehicle (ZIP code), driving history, expected mileage, etc. We do learn something from seeing how two quotes for the same person differ across insurers.
jed-99aggie
12-07-2012, 11:31 AM
Been with USAA for at least two decades. Followed up with them for a confirmed quote once I had VIN. Their rate was 2x previous "preliminary" quote. I asked if there were any errors/fat fingered the entries. Confirmed all was correct.
I called GIECO, got same coverage for 1/2 USAA rate. Made the switch and moved along.
I called GIECO, got same coverage for 1/2 USAA rate. Made the switch and moved along.
Do you mind saying how much it was?