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Thread: Model S Insurance

  1. #1

    Model S Insurance

    Got a phone call from my insurance company today (Amica Mutual) that the Model S is finally in their system for underwriting. When I called about 6 weeks ago, they told me the car was not yet in their database, but estimated the cost for insurance at between $1000 and $1100 (if I recall correctly). Today, they called and informed me that the Model S was added to their underwriting database, and the cost for insurance for 1 year will be $1808/year. That is the premium for adding the Model S as a fourth car with 2 adult drivers in the family. For comparison, our Toyota Prius is about $750/year, our Lexus is about $900/year, and our Mercedes sports car is $950/year. The Model S is twice as expensive as our other cars. The agent said the rate is based on the fact that the car has no theft/accident history, and they are concerned about break-ins to steal the 17 inch display, among other items of the car. Not happy with this news.

  2. #2
    Senior Member kevincwelch's Avatar
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    Most disappointed in this news...
    MODEL S 85 | BLUE

  3. #3
    mod squad TEG's Avatar
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    I bet that 17" display will be all but useless when removed from the car.
    It isn't like they have an iPad in there - it is purpose built hardware.
    Sounds like your insurance company is starting out with a "let's assume worst case" plan with the idea to adjust down later as they learn from experience.
    I think some other insurance companies start out low on new models, and raise if they have to.
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  4. #4
    Blue 85kwh since 12/8/12
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    I had a different experience. My state farm agent quoted me in the mid 700's, less if not primary vehicle. That was for a non-performance 85kwh. Think you need to shop around...

  5. #5
    Pistons are unnecessary. Todd Burch's Avatar
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    Yeah sweg...sounds like your insurance company is out to screw you. I'd advise you to look elsewhere...or at least threaten it, and see if they respond.

  6. #6
    Burrito Founder brianman's Avatar
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    Quote Originally Posted by swegman View Post
    The agent said ... they are concerned about break-ins to steal the 17 inch display....
    Saw that one coming. I think I even mentioned it when we were discussing the Model X unveiling.

  7. #7
    Model S - Sig. 283 EU Right_Said_Fred's Avatar
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    The risk of car theft will be much lower with a Tesla. Most thieves will walk away because they don't 'know' the car and how to get it started, because they are afraid they will stick out among other cars on the road, or because - if they do know it's electric - they are afraid they will run out of battery power (most people are ignorant to the range of the Model S). So a lower rather than a higher insurance premium would be fair.

  8. #8
    Senior Member Grendal's Avatar
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    It's probably been discussed before but I'd bet if the car were somehow stolen that Tesla could find it immediately. Think of it as built in lo-jack. Has this been discussed before?

    And back to the topic, you absolutely should talk to a different insurance company and get a quote for switching all your cars over, then take that quote to your company.

  9. #9
    Senior Member tdelta1000's Avatar
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    Quote Originally Posted by TEG View Post
    I bet that 17" display will be all but useless when removed from the car.
    It isn't like they have an iPad in there - it is purpose built hardware.
    Sounds like your insurance company is starting out with a "let's assume worst case" plan with the idea to adjust down later as they learn from experience.
    I think some other insurance companies start out low on new models, and raise if they have to.
    I agree TEG.

  10. #10
    Member jimbakker666's Avatar
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    Quote Originally Posted by brianman View Post
    Saw that one coming. I think I even mentioned it when we were discussing the Model X unveiling.
    I think a rumor should be started out on the street that the nav displays inside Tesla EVs are electrified and when tampered with, produce an electric shock strong enough to incapacitate.

    Actually, screw the rumor. I think the cars should just come with that as a standard option

    Sorry to hear that about the insurance rates. As others have said, I'd suggest shopping around at least to see what other places offer.

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