State Farm Dropped My Insurance

CaptDaveHowe · Feb 13, 2014

I just received a letter in mail from State Farm Insurance, who I have used to insure all of the cars I've owned since I was 25 (I'm now 56 - long time). In a nutshell, the letter states that State Farm will not renew my policy for my Model S. I own two other cars, which are not affected.

Basically, State Farm claims that the Model S does not meet their guidelines and standards that determine if insurance can be provided. I find this odd, as the Model S was rated "the safest car in 2013, etc". So what's up with State Farm? Is it the cost to fix one?

Does anyone in the New York area have a suggestion on insurance companies that cover Tesla automobiles?

slipdrive · Feb 13, 2014

Hmmmm.. I am in the exact same boat. Multiple cars and policys with SF for decades. The Model S was treated about like I expected a high end car. 700/6mo. Seems like they would just raise premiums. Maybe time to shop around. Who has good Tesla response with insurance companies ?

jonbcampos · Feb 13, 2014

Strange

slipdrive said:
Hmmmm.. I am in the exact same boat. Multiple cars and policys with SF for decades. The Model S was treated about like I expected a high end car. 700/6mo. Seems like they would just raise premiums. Maybe time to shop around. Who has good Tesla response with insurance companies ?

My tesla is about to show up and I am working with my state farm rep now and I haven't heard anything about this. They did quote me fairly high (roughly 170/month) because apparently the car is classified like a corvette. I tried to argue with them on this but they said there isn't enough info about the car so for now it is seen as high risk. I have yet to get information of being dropped though. What state are you in?

Me = Texas

Doug_G · Feb 13, 2014

Perhaps it might be a good idea to let ownership @ Tesla know about this.

NoMoGas · Feb 13, 2014

Geico, 665 6mo full coverage

slipdrive · Feb 13, 2014

My State Farm agent just returned my call, and said he knows nothing of any problem. Also said the agent always gets prior notice is such cases ...

They might underwrite on a regional basis so these decisions are sporadic ...

caddieo · Feb 13, 2014

I'M in Florida. I haven't heard anything adverse so far.

Ven Rala · Feb 13, 2014

I have used USAA for 12 years and they insured my S with no issues. I have multiple banking/insurance accounts through USAA and think very highly of them. Great customer service and great rates. If you are eligible (current or former military or have a family member that was/is a USAA member) you can qualify.

Bradleybang · Feb 13, 2014

I know Progressive will write a Tesla S in NY. Unsure of their pricing.

andrewket · Feb 13, 2014

My guess is cost of repair. 1/ Tesla only selling parts to "authorized Tesla" repair centers. 2/ No generic/refurbished part supply.

zwede · Feb 13, 2014

jonbcampos said:
My tesla is about to show up and I am working with my state farm rep now and I haven't heard anything about this. They did quote me fairly high (roughly 170/month) because apparently the car is classified like a corvette. I tried to argue with them on this but they said there isn't enough info about the car so for now it is seen as high risk. I have yet to get information of being dropped though. What state are you in?

Me = Texas

I'm next door in Plano. Currently Travelers is $559/6 months for my P85+. They say it will go down a bit when I switch to paying annually rather than 6 months. The agent is also checking if I can get a discount for the GPS locator that's standard in the Tesla (makes theft recovery easy). You can call my agent if you want. Tesla was a bit of an educational experience for her and Travelers, but they got it mostly figured out now. 817-865-1801, ask for Aimee (I don't get anything for referrals, just trying to help).

sranger · Feb 13, 2014

I left "Snake Farm" a long time ago. I use AMICA now and have been happy with the...

roblab · Feb 13, 2014

CaptDaveHowe said:
I just received a letter in mail from State Farm Insurance, who I have used to insure all of the cars I've owned since I was 25 (I'm now 56 - long time). In a nutshell, the letter states that State Farm will not renew my policy for my Model S. I own two other cars, which are not affected.

Basically, State Farm claims that the Model S does not meet their guidelines and standards that determine if insurance can be provided. I find this odd, as the Model S was rated "the safest car in 2013, etc". So what's up with State Farm? Is it the cost to fix one?

Does anyone in the New York area have a suggestion on insurance companies that cover Tesla automobiles?

Good thing they dropped you before you needed to drop them.

Unigard / QBE 600 / 6 mo, $1K deduct. One car.

Shop around.

SeminoleFSU · Feb 13, 2014

I'm still on SF, my payment started at 188/mo but it's now up to 197/mo... I just got a speeding ticket for 82/55, but haven't gone to court yet. Not sure if that would've affected my rate or not.... Seems like if you guys are getting 650-700 for 6mo it's time to shop around.

EDIT:
Well I just went online and found I really can save a lot by switching to Geico. :tongue: Got a quote for $600 every 6mo.. Probably need to check the details of the policy coverages to make sure I'm comparing apples to apples- but wow.

rlang59 · Feb 13, 2014

SeminoleFSU said:
I'm still on SF, my payment started at 188/mo but it's now up to 197/mo... I just got a speeding ticket for 82/55, but haven't gone to court yet. Not sure if that would've affected my rate or not.... Seems like if you guys are getting 650-700 for 6mo it's time to shop around.

EDIT:
Well I just went online and found I really can save a lot by switching to Geico. :tongue: Got a quote for $600 every 6mo.. Probably need to check the details of the policy coverages to make sure I'm comparing apples to apples- but wow.

If you are a Birkshire Hathaway shareholder you will also get a discount.

Denarius · Feb 13, 2014

My car is insured through State Farm, at my renew my rate went up slightly, but that is all.

Zythryn · Feb 13, 2014

No issues with my SF agent in MN.
Just renewed on my S85 a little over a month ago.

Krugerrand · Feb 13, 2014

State Farm may have dropped your Model S insurance, but it looks to me like they are about to be The Biggest Loser when you transfer all your vehicles to another provider. Congratulations!

yobigd20 · Feb 13, 2014

State Farm is one of the highest insurance rates around. you could easily get half for the same coverage elsewhere. consider this a blessing and drop them completely right now and go save yourself a lot of money.

kcveins · Feb 13, 2014

I'm with State Farm in Chicago - just got my renewal 2 days ago for $450/6 mons.

State Farm Dropped My Insurance

Member

Member

Member

Lead Moderator

Active Member

Member

Member

Member

Member

Well-Known Member

2013 P85+

Member

Active Member

Voluntaryist

Member

Active Member

Custom Warming Stripes wrap.

Meow

Well-Known Member

MS85 2/7/13, refreshed S 9/2021

Similar threads