Model S Insurance in Canada

[mnx]

Hey Jaff,

For you, how does the Model S premium compare to your roadster? And what kind of difference in premium could one expect between the sig model and general production model S?

Ok. hot off the press...

The VICC car code for the base Model S is 4001...the code for the Sigs is 4002.

In Ontario, if you give this car code to your broker, they should be able to calaculate an annual premium for you

The corresponding rate groups for the base models are as follows...AB 1 / collision 32 / dcpd 37 / comp 37...

The corresponding rate groups for the Sigs are AB 1 / collision 38 / dcpd 38 / comp 46

For comparison, the rate groups on my 2010 Roadster are as follows...AB 1 / collision 29 / dcpd 46 / comp 46

The above mentioned rate groups for my Roadster create an annual premium of $135.00 / month or $1,620 / yr.

I found it interesting that they are differentiating between the base and Sig models, but not between the base and performance models...

[Jaff]

I haven't had a chance to work it out yet Matt...I'm severely under-staffed this week due to vacations & a wedding...I'll try to get some numbers for you shortly...

Hey Jaff,

For you, how does the Model S premium compare to your roadster? And what kind of difference in premium could one expect between the sig model and general production model S?

[Jaff]

Early numbers for your territory are kind of fugly Matt...in the $1,800 - $2,300 / year range...my Roadster costs less to insure...

However, you are in the second hightest rated city on Ontario...(time to move out to Grimsby where the rates are a bit lower...)

[Doug_G]

Yow, I hope the numbers for Ottawa are better. My Roadster costs a fraction of that to insure.

[mnx]

I'm paying 1600$/year now for my BMW... (AB : 35, DCPD/Coll/A.P. 38, CMP/SPP 45) If it's close to the low end of that range it's a relatively small increase.

Any idea what the difference in premium would be on the sig vs. non sig Model S?

Early numbers for your territory are kind of fugly Matt...in the $1,800 - $2,300 / year range...my Roadster costs less to insure...

However, you are in the second hightest rated city on Ontario...(time to move out to Grimsby where the rates are a bit lower...)

[Jaff]

You're getting the equivalent of a qroup rate though (engineers I think...the old Meloche Monnex group) Doug...plus, Ottawa as a territory has better loss experience than Hamilton...

Yow, I hope the numbers for Ottawa are better. My Roadster costs a fraction of that to insure.

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$1,600 is about what I pay on the Roadster for a year...although again, Grimsby has lower base territory rates than Hamilton...only Toronto is worse for base rates than Hamilton...

I'm paying 1600$/year now for my BMW... (AB : 35, DCPD/Coll/A.P. 38, CMP/SPP 45) If it's close to the low end of that range it's a relatively small increase.

Any idea what the difference in premium would be on the sig vs. non sig Model S?

I'll get some numbers for the non Sig shortly...they won't be a whole lot better...maybe $75-$150

[Doug_G]

You're getting the equivalent of a qroup rate though (engineers I think...the old Meloche Monnex group) Doug...plus, Ottawa as a territory has better loss experience than Hamilton...

Right, I keep forgetting that... I signed up with the PEO plan at Meloche Monnex. That company was bought by TD Bank, and then the engineers bailed on them when OSPE was split from PEO... and I guess they kept the plan the same so thousands of customers wouldn't bail on them...

If I recall correctly my Roadster plus Infiniti G37 was around $1,500.

[KBF]

In MB it is $1200 for "bare bones" insurance (which isn't horrible), I'll probably pay around $1700 per year to properly insure it. There doesn't appear to be any difference in premium between the regular S and the Signature (unless you increase the "maximum insurance value" to their actual prices, then Sig is a few dollars more per year). I'm okay with that.

Anyone can play with MPI's calculator, go to mpi.mb.ca. It's fun!

[Jaff]

The range on the Model S (non-Sig) is about $1,550 to $2,000...slightly better.

To me, it makes no sense to differentiate between the base Model & the Sigs when they are not differentiating between the base model & the performance version...also, from a cost perspective, they are not differentiating between the 40 kwh battery & the 85 kwh battery...

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[Doug_G]

The range on the Model S (non-Sig) is about $1,550 to $2,000...slightly better.

To me, it makes no sense to differentiate between the base Model & the Sigs when they are not differentiating between the base model & the performance version...

Yeah, that makes no sense whatsoever. It indicates that they don't understand the product configurations. After all, you can configure a base Model S to have almost every option that the Signature has, except some cosmetic things like paint color. Or maybe they're just assuming most base cars won't have all the options and on average will be cheaper.

also, from a cost perspective, they are not differentiating between the 40 kwh battery & the 85 kwh battery...

Right, that's a $20k price difference. That said, I suppose only very serious accidents will damage the battery pack. Most accidents are probably fender-benders. Unless it's a write-off, it's the cost of repair that matters, not the cost of the car. But then, I'm no expert on insurance.

On another topic... no sign of that email yet...