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I have had GEICO for about 5 years now, switched yesterday to Progressive because their rate was much better than GEICO's for my model S (same limits as logan). Plus GEICO wouldn't do gap insurance. I am paying about $780 for 6 months for the Tesla and a 2007 Civic (in Atlanta, garaged car) with gap insurance on the Tesla.
My GEICO quote was about 800 for the Tesla, and 100 for the Civic.
I really liked GEICO. They were always helpful and easy to get a hold of. Lucky for me no claims in that period.
Spend a lot of time insurance shopping yesterday and ended up disappointed. I was hoping to keep my home and auto insurance together, but since I have an unusual house, and soon an unusual car (or at least not yet mass-market) it doesn't look like it's going to be possible. (Notes below apply to Texas, insurers have very different pricing and approaches for different states)
* Allstate- Been with them for years and been very happy, but they didn't have the Model S in their system and wanted $2000 more a year to cover it than most competitors.
* Geico - Had the Model S in the system and the best price to date on the Model S and other cars, but they don't work with an underwriter who will work touch my house.
* State Farm - Just increased Texas home insurance rates by 20%. They did have the MS in their system, but at a higher rate than Geico.
* Farmers - Had the MS in their system, but at a rate 3 times what Geico offered.
* Progressive - Had the MS in their system and the pricing is close to Geico, but not quite as good. They would insure the house, but jacked the deductible for hail damage up so high the insurance was practically useless except for a fire.
At this point I gave up and went to an independent insurance agent. Hopefully they can find some better options otherwise. I'll let you know next week. If they can't find anything better, I'll probably move my auto insurance to Geico and leave my homeowners with Allstate. Hopefully by the time I renew Allstate next year will have their act together when it comes to Tesla.
* Allstate- Been with them for years and been very happy, but they didn't have the Model S in their system and wanted $2000 more a year to cover it than most competitors.
* Geico - Had the Model S in the system and the best price to date on the Model S and other cars, but they don't work with an underwriter who will work touch my house.
* State Farm - Just increased Texas home insurance rates by 20%. They did have the MS in their system, but at a higher rate than Geico.
* Farmers - Had the MS in their system, but at a rate 3 times what Geico offered.
* Progressive - Had the MS in their system and the pricing is close to Geico, but not quite as good. They would insure the house, but jacked the deductible for hail damage up so high the insurance was practically useless except for a fire.
At this point I gave up and went to an independent insurance agent. Hopefully they can find some better options otherwise. I'll let you know next week. If they can't find anything better, I'll probably move my auto insurance to Geico and leave my homeowners with Allstate. Hopefully by the time I renew Allstate next year will have their act together when it comes to Tesla.
Almost exactly my situation except I'm in Georgia and with MetLife. I suspect I will end up with Geico for the Tesla and keep the house and the other car with MetLife.
I have MetLife on the house as well (TX) haven't been able to find anyone that beats MetLife by more than $10. Right now the cars are Progressive and have been for several years (ever since Geico screwed me with their rates). I'll see what Progressive will do for me.
My Allstate agent was understanding that I wouldn't be able to stay with them for auto at that crazy price, but he did warn me that Geico's collision coverage, unlike Allstate, doesn't provide cover you if you loan the car to someone else and let them drive it. That does give my pause since I was hoping to let plenty of others drive the Model S. I want to help sell more Teslas, but I don't want to have to pay out of pocket or deal with issues trying to collect from a friend if they get in a wreck while giving a run around the block.
Does anyone know about how other insurers handle this?
EDIT: As logan pointed out below the information I received from my Allstate agent about Geico was false. I called Geico back today and the collision coverage will cover any driver who has the owner's permission to drive the vehicle.
Does anyone know about how other insurers handle this?
EDIT: As logan pointed out below the information I received from my Allstate agent about Geico was false. I called Geico back today and the collision coverage will cover any driver who has the owner's permission to drive the vehicle.
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With regard to Allstate, my Allstate agent (in Florida) couldn't find the Model S in their system either until she looked under 2012 rather than 2013. The rates were very reasonable even with low comprehensive and collision deductibles.
Larry
Thanks Larry! I'll call them back on Monday and ask them to run it as a 2012 model.
It would be difficult to determine what your exact premium would be based on the quotes listed in this forum, since insurance rates vary based on a variety of factors including state/county, claims experience, number of drivers/cars, multi-policy discounts, policy limits/deductibles, etc. Nevertheless, it is helpful to hear from others on this forum regarding their experience with different carriers and the comparative differences in rates for the MS. In my case, USAA quoted me $733 for six-months, which was about $100 lower than State Farm.
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DrTaras
R254->R725->S->X->M3->M3P-->R2020?
Thanx for all your posts. It seemed like GEICO was the best and they also are amongst my favo(u)rite commercials and its easy to online quote me. Of course I had to use my aforementioned accident and so my apples to apples quote was for $2,378/yr. I'll stick with AAA for the $18!
That is INCREDIBLY untrue. My Geico insurance covers anyone who drives any of my cars.
I don't know the answer to this question-
Can you cover car 1 with insurer A and car 2 with insurer B? Or do insurance companies have clauses against this? My guess is you would end up with double liability coverage and therefore it should price out unfavorably. But with the wide range on premium quotes on the S right now, who knows?
I had usaa for 7 years but they were no longer competitive. I switched to Allstate who I had used previously.
A
Can you cover car 1 with insurer A and car 2 with insurer B? Or do insurance companies have clauses against this? My guess is you would end up with double liability coverage and therefore it should price out unfavorably. But with the wide range on premium quotes on the S right now, who knows?
I had usaa for 7 years but they were no longer competitive. I switched to Allstate who I had used previously.
A
strider
Active Member
Just amazing how messed up these companies can be state to state. A month ago I waltzed into my Allstate agent's office here in NorCal and they pulled the Model S right up (even noting it was Performance which I'm sure didn't help my rate) and charged me $659 per 6 months. I can see the rates being different but you'd think they'd share a computer system and so would at least list the car. Weird.
