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Law&Disorder
Member
Mine is quite high even with numerous discounts $3,477 per year.
Just as a data point, I was talking to the owner of the body shop where I get my car hand washed and he told me that he had done work on a damaged Model S that a long time customer had brought in. Tesla wasn't happy about him doing the work instead of having it done by a Tesla-authorized shop, but eventually agreed to honor the customer's preference and allowed him to order parts. The body shop owner told me that Tesla OEM body parts were the most expensive he had ever dealt with. And this is a shop that works on Rolls Royces and Ferraris on a regular basis.
It's obviously only anecdotal information and I didn't ask to see the invoices or anything, but perhaps there's a very good reason why our cars are so expensive to insure.
Just as a data point, I was talking to the owner of the body shop where I get my car hand washed and he told me that he had done work on a damaged Model S that a long time customer had brought in. Tesla wasn't happy about him doing the work instead of having it done by a Tesla-authorized shop, but eventually agreed to honor the customer's preference and allowed him to order parts. The body shop owner told me that Tesla OEM body parts were the most expensive he had ever dealt with. And this is a shop that works on Rolls Royces and Ferraris on a regular basis.
It's obviously only anecdotal information and I didn't ask to see the invoices or anything, but perhaps there's a very good reason why our cars are so expensive to insure.
EarlyAdopter
Active Member
I'm sure there's a very good reason your car is so expensive to insure, but it isn't the car.
I'm paying $1100 per year to insure my P85D with max coverages (Progressive).
Law&Disorder
Member
It's obviously going to vary by state and insuring a car in the metropolitan New York area is notoriously expensive so that's part of the difference. My 2013 BMW M5 (which priced out at $105,000) was around $3200 a year to insure.
I'm picking up my P85D on Monday in Houston, TX. Farmers wants $3,950/yr to insure it, and I've been with them 14 years and insure everything with them! That's about double what Farmers charges me to insure my 2014 McLaren 12C Spider!!! Made some calls and GEICO ended up being the best - $1,240 annually.
Cyclone
Cyclonic Member ((.oO))
Oh yes, it is always wise to get at least 3 quotes when shopping for insurance. Further, even if you have an insurer that you are satisfied with, it still is wise to re-quote your entire package at least every other year, especially if you have seen a premium increase. Insurers know that most people don't like this shopping process and will raise rates a bit each year to increase profits - most people will stick with insurer. There is even a little mathematical-psychological science that helps them figure out how much they can raise rates before too many people jump ship to make it profitable overall.
with what company? I'm in NoVA as well and having extremely hard time finding reasoanbly priced coverage. Thanks.
I will be paying around $1150-1200/yr for the 85D's insurance. I just got a new quote from my insurance company and the Tesla adds about $200 over my 2012 X5. Not bad, considering the Tesla is brand new, probably more expensive to fix, and costs about $35,000 more new. I use Liberty Mutual.
Got my renewal from Amica, rate went from 3600 a year for my 2015 85D/2013 Subaru to $4055. Called and asked why and was given a song and dance about future hurricanes etc... Started shopping other companies and was told by several brokers that some insurers are refusing Model S business, Mercury being one of them.
Ended up switching to Travelers, gave me the same price I was paying with Amica. The other carriers I checked with varied from $3700 to $5000, Liberty Mutual being the highest. Oddly, Safeco which is a Liberty Mutual company wanted $3700.
I am being surcharged, about $600 for an accident that I was not at fault in from 2013.
Ended up switching to Travelers, gave me the same price I was paying with Amica. The other carriers I checked with varied from $3700 to $5000, Liberty Mutual being the highest. Oddly, Safeco which is a Liberty Mutual company wanted $3700.
I am being surcharged, about $600 for an accident that I was not at fault in from 2013.
As it's been said over and over, it varies vastly from state to state, even zipcode to zipcode. I'm an agent and I shopped my own coverage and used every trick in the book, and I'm still paying $1500 a year with Safeco. And I know how to keep my record and claims history as squeaky clean as possible.
Other factors to consider is liability limits (I carry $500,000 combined single limit with a $1 million umbrella), uninsured motorist, renters (which I highly recommend since repairs take SO long on the Model S...I learned from first hand experience), deductibles, etc etc.
Other factors to consider is liability limits (I carry $500,000 combined single limit with a $1 million umbrella), uninsured motorist, renters (which I highly recommend since repairs take SO long on the Model S...I learned from first hand experience), deductibles, etc etc.
