Estimate of Car Insurance?

Estimate of Car Insurance?

We anticipate being able to purchase the S Model when it comes out, I am just curious if anyone knows the potential insurance costs. I am guessing the numbers will be similar to those of a mercedes, but as bad as the corvette.

Any thoughts or ideas?

Mehdi | 09. Oktober 2010

I'm sure even the insurance companies won't know until the cars been out for a while. Last time I bought a first year model they estimated based on similar performance models and adjusted (up of course) within six months of the car being out.
I'm guessing they'd start out similar to an Audi S6 or so and adjust. With 0 to 60 in 5.6 seconds the rates couldn't go anywhere but UP.
We can only hope that the third row seating will give it a family car class rating and and keep the rate reasonable.

Roger_Smith | 10. Oktober 2010

Amen to that Medhi. I can only speak for myself.... I'm not rich.

Dan5 | 10. Oktober 2010

Back in June, I asked my insurance agent the same question. They said they have to wait for the crash results and anti-theft features to give me a quote. They did give me a really broad estimate, best case 1,500 (town car level), worst case 2,500/yr (corvette level), but then again it's NJ (notorious for high insurance prices)

Timo | 11. Oktober 2010

Back in time to 80s when I had my tiny little Fiat our insurances was based on size of the ICE. Since emotor doesn't have any combustion chamber in it that would lead to zero insurance :-)

...Of course insurance companies would not allow that, so I'm sure they would have found out other ways to figure how much that would cost.

But my annual insurance with full set, accidents, theft, vandalism, moose accidents etc. was only around 25 euros with 70% bonus I had from not being in any accidents. Pretty cheap, right? (of course there has been some inflation in currency so that probably translates closer to 50 euros for current money, but it's still cheap I think).

Dan5 | 11. Oktober 2010

Wow, 50 euros, (even 300 euros would be cheap). I wonder why the USA is so much more expensive. Right now I have a 2010 Corolla (1.4L) and a 2002 Mercury Cougar (2.4 L) (no collision on this car). I'm paying around $2,200 (1,580 euros) and no accidents since I had my license.

Jaffray | 11. Oktober 2010

50 Euros? lawyers in your country Timo? ;)

Timo | 11. Oktober 2010

Not the kind you have there. It is not quite possible to sue someone for obscene sums for practically nothing like it seems to be possible in US.

Like those warnings in McDonald coffee-mugs "warning! Content might be hot" (or something like that). In here such warning would be unnecessary, because coffee is *supposed* to be hot and if you burn yourself with it then "That's too bad. Use your brain next time. Next!". If you try to sue someone for that officials would just laugh you out.

aniston2010 | 19. Oktober 2010

I'm guessing they'd start out similar to an Audi S6 or so and adjust. With 0 to 60 in 5.6 seconds the rates couldn't go anywhere but UP. We can only hope that the third row seating will give it a family car class rating and and keep the rate reasonable.

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Corey | 21. Oktober 2010

I wonder how the "relative cost" of replacement parts in a Model S would compare to an Audi S6 or thereabouts. Thinking on the side of insurance companies, if repair of your average fender-bender would be more expensive with a Model S I would expect the insurance premium to reflect that; not to mention that this vehicle is a different animal than what today's auto-body service techs see day in and day out, so that is another matter in itself. Then again, maybe the savings on not visiting a gas station for a year would subsidize the difference!

NoraCamps | 22. Oktober 2010

I am waiting [not so patiently] for the Model S to be available in Toronto. Jaquar has a similar-looking car but at a completely different price point. I want one!

Brian H | 22. Oktober 2010

You can buy one there now, but you'll have to wait in line for delivery like everyone else, AFAIK.

Jaffray | 24. Oktober 2010

Brian's right Nora...if you're sure that you want one, the only way to avoid the disappointment of a (probable) lenghty wait is to get on the reservation list now (trust me...I have about 50 days to wait for my roadster to come in...hours seem like days! ;) )

My guess is that I'll not be getting my Model S until the 3rd quarter 2012 as it is.

Dan5 | 25. Oktober 2010

If the model S keeps with it's current design and an all aluminum build, the repair cost will be greater than that of a "steel" car simply because not all body shops are equipped to repair aluminum panels. I actually asked a body shop this same question a few weeks ago and they said it would be more to replace panels than a comparable car because they have to keep tools specifically for repairing aluminum cars (AFAIK it's like repairing jewelry, can't use tools to repair costume jewelry to repair gold).

Vawlkus | 26. Oktober 2010

Good point there Dan5, I hand't considered that. It's something I should have remembered, given that I used to deal a lot with metal fabrication shops & custom parts.

Thankfully, the Model S's responses, braking, and handling should be enough to help prevent most accidents, although there will be some who don't react in time to avoid trouble.

CatchCatch | 26. Oktober 2010

The Model S will also have its own unique repair costs, substituting computer fixes and battery-related repairs for engine tune-ups and oil changes (among other things). In short, it's a normal-sized electric car with special needs, so insurance companies might, nay, will, have a hard time giving you a lower rate.

Vawlkus | 26. Oktober 2010

I don't know if I'd go that far CatchCatch. The majority of car trouble stems from moving parts, and noone can deny that an electric car does have far fewer of them.

On the flip side of that, while there may be fewer things to go wrong, if someone DOES go wrong it will likely be a little bit more expensive to fix, at least until mass production kicks in for electric vehicles. Right now, gassers have parts all over creation. It'll take time for electrics to acquire the same inertia

BYT | 28. Oktober 2010

Insurance companies can give two hoots about how reliable a car is but will take in consideration repair costs, overall price of the car if stolen or totaled as well as the drivers history when coming up with our premiums. My guess is that it would probably cost in the neighborhood of what the Roadster would cost to insure minus about 60% I hope?

Corey | 02. November 2010

As far as the aluminum body is concerned, it will definitely be more expensive in the short run, but I wouldn't be surprised if down the road, more car manufacturers move towards aluminum bodies. I know there is ongoing research to create an aluminum alloy that will behave like sheet-steel when stamped out by a drop-press. Once aluminum bodies become the majority, then the repair cost ought to normalize.

Timo | 03. Dezember 2010

Spam. Bot-generated generic text with a link (that happens to be on target this time).

qwk | 05. Dezember 2010

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kpx_atl | 12. Februar 2011

I got a quote from my ins (Progressive) for 1K deductible and comprehensive policy and they asked my to give them a cost for the car (I said 70K). Basically it cost 2400 for 1 year worth of insurance according to quote. YMMV - my MVR has a 1 speeding ticket on it in their reporting period.

texasinsurers | 15. Dezember 2013

The cost of insurance will also depend on your driving habits, like whether you are a low mileage driver or have had any accidents in the past. Eventhough the S model is considered a luxury car with high rate of car insurance, you can save a lot of money if you have a clean driving record.

romainiacWV | 15. Dezember 2013

Pay $1,200 a year with State Farm with $500 deductable. In prior threads on this issue, State Farm and Geico seemed to be most competitive nationally from my observations. Obviously your driving record and location matter.