Forums

Average Insurance Rate on MS

Average Insurance Rate on MS

I am taking delivery of my New '19 MS this weekend, i need information on the avearge insurance rate for this model and suggestions on the right insurance company. I currently have Audi Q7 diesel and changing over to a Tesla.

Thank you all for your responses.

OTBMS19

akikiki | 19. Februar 2019

What are the statistics for this average driver you are dreaming about to get an average rate? Insurance differs depending on driver age, income, credit rating, location, driving record, single/married, number of vehicles, oh... and color of Tesla, because everyone knows RED is faster.

Bottom line. There is no average. And separately Tesla Drivers are exceptional human beings.

radio | 20. Februar 2019

"Driver age, income, credit rating, location, driving record and color" are there to make the rate less comparable. But still you can compare it well if you state any extraordinary agreements.

Mine is 980 €/ year (full comprehensive insurance, 1000 € deductible/ accident, limited to 20.000 km/year, everything else is average)

dougk71 | 20. Februar 2019

The Hartford Auto Insurance USA won't insure Tesla's and needs to be boycotted for all insurance life and auto.

AERODYNE | 20. Februar 2019

SoCal car, 2015 MS 85D. 58k purchase.

Retired, good record, 5k miles a year, $ 1000 deductable, multi car and house discount, I pay....

Wait for it

$1400/yr

AERODYNE | 20. Februar 2019

SoCal car, 2015 MS 85D. 58k purchase.

Retired, good record, 5k miles a year, $ 1000 deductable, multi car and house discount, I pay....

Wait for it

$1400/yr

Bill_75D | 20. Februar 2019

@dougk71 - I agree with you. I had Hartford for years and years. They refused to write a policy for me when I bought my Tesla. They cited the extremely high cost of repairs as the primary reason.

talels | 20. Februar 2019

IL car, 2018 MS 75D. Insured with Progressive, $1000 deductible, and after all discounts I pay $941/year

bhanuk99 | 20. Februar 2019

Insured in MD-State Farm. After multi car and home discount and $1,000 deductible, I pay $1,800/yr for 2018 MS 100D. it was $1,600 for 2017 MS 75 with $500 deductible. I compared with GEICO, Progressive, Liberty Mutual, and All State. State Farm the cheapest.

JaMo_75D | 20. Februar 2019

Man USAA is not doing me any favors on my cars. Tesla Model S and Jaguar F Pace is ~$1400 every 6 months, $1000 deductible! Usually USAA has the best rates...

talels | 20. Februar 2019

oops I think I gave the number for 6 months instead of a year.. that makes my insurance $941 x 2 = $1,882.

dougk71 | 20. Februar 2019

Hartford often has what they think is a good reason for the wrong idea.
Tesla's passengers and drivers are in one of the safest cars ever manufactured.
Death and bodily injury are where the big claims go. You can price in the cost of fender benders if need be and vastly reduce the cost of bodily injury.
Hartford was once a well run company but it has lost its way. Hartford has replaced actuarial expertise with peanut brained Wall Street management.

dougk71 | 20. Februar 2019

Tesla should partner with an e-insurance company and offer very much reduced rates relative to ICE cars of similar performance. They could even self insure and layoff the risk with Loyds of London.

jayarr | 20. Februar 2019

It seems that insurance is much more expensive over in the US. Here in UK I'm paying £450 for the year. That is with a good 9 year ncb. For any Brits, that's with L&V who for me, can't be beaten.

OTBMS19 | 20. Februar 2019

I have been using State Farm for over 13 years with no issues but when i asked for a quote for Tesla Model S, i was given about $1100 for 6 months and the other SUV i have on my policy will go up by couple of dollars after removing 2 other vehicles. That was what prompted me to start looking around for an alternative.

OTBMS19 | 20. Februar 2019

Progressive just gave me a quote of $980 for 2018 MS since they don't have the 2019 model S on their system yet.

eAdopter | 21. Februar 2019

2013 Model S, about 16k miles/year, full and extensive coverage, about $693/year.

esurance.com

Geico and Progressive were also very competitive when I checked.

dougk71 | 21. Februar 2019

Geico is good and they seem unlike the Hartford to understand the reduced risk.
An ICE car insured with the Hartford which causes a collision with a Tesla will mean Hartford is fixing a Tesla. The good news is since it is a Tesla the bodily injury risk to the Tesla occupants is vastly reduced and greatly increased for the ICE car Hartford is insuring.
Hartford doesn't understand actuarial risks.
I still think because Tesla's are so safe relative to ICE not only should Tesla owners save on gas they should save equal dollars in insurance.
If Tesla offered insurance at lower cost they could as they do for gas and Tax offsets bring say a Model S with $4000 in gas savings and $3750 in tax down a further $3000 in insurance savings.

bharej30 | 21. Februar 2019

42 years old, 3 cars on the policy and my home as well

2018 Model S 100D

$1,000 deductible with new car replacement

$1198 for the year with Bob Korvas Agency (Travelers)

billUK | 21. Februar 2019

@jayarr - for me Direct Line (via Tesla link) £316.96 45+ years ncb

ted | 22. Februar 2019

2017 100D- Live in Aurora Ohio, I have Erie Insurance,500 deductable.
I am 80 years old, drive about 16,000 miles per year, my cost for insurance is 850.00 a year.

NRGrin | 22. Februar 2019

I would love for someone from Texas to chime in here.

I am 49, clean record, ensuring 5 other cars and homeowners discounts with State Farm.

I’m paying $1,572 EVERY 6 MONTHS!!!!

TranzNDance | 22. Februar 2019

I switched away from State Farm because the quote for the Tesla was ridiculous.

ken | 22. Februar 2019

Progressive here. Full coverage, 45 year old male, one accident (at fault) 4 years ago. 2017 Model S 75D. Paying $940/yr in southern Arizona. I am one of Progressive's Diamond members.

Goozin | 23. Februar 2019

I'm in Texas (DFW.) In progress on acquiring a CPO MS 85D. Have been using Farmers, but they clearly don't want to insure it, quoting at $3k/6mo. Geico came in at $1k/6mo. Haven't gotten around to getting more quotes, but will be doing so. We have a couple of young adults still at home, so that's part of the hit. This is for 1k deductible.

SO | 23. Februar 2019

In Michigan with farmers, insured my home, 3 cars (one is a 2017 MS 90D). No tickets. 1k deductible. Uninsured motorist option since so many in Michigan don’t have insurance.

$1,490 for 6 months (just for the Tesla).

I stick with them because of the following:
1. Can’t drop me.
2. Accident forgiveness (1 every 7 years I think - if my fault).
3. Ticket forgiveness. (1 every 3 years I think).

mcmack15 | 23. Februar 2019

We were with an insurance company for over 30 years (cars, house, umbrella), but when we got our S in 2017, they declined to cover the Tesla, knowing full well all our other business would have to follow the Tesla insurance. They basically told me directly and the broker-agent that because of the replacement part issues (high costs; extremely long delays in getting parts; and some parts no longer available for older models), they no longer wanted to insure Tesla's. The claims would remain open for months while awaiting parts from Tesla---and of course their customers blamed it on the insurance company. That is what we were told.

Turns out, based upon my actual experience, what they said had a lot of merit. In the span of a few days, while I was stopped in traffic both times, I got hit. I first got hit in the right front bumper as a car tried to pull into our lane even though there was no room; and then while on my to the insurance adjuster's office a few days later, I got hit in the rear bumper as a car failed to stop with the rest of us at a red light. It took months for the bumpers to arrive. The SC folks were great and all, but still.............months. In fact, it took so long, the order for one bumper was 'timed out' of the Tesla system and the order automatically cancelled.

We love the Tesla product, and in fact just picked up our 2nd one (a 3) in November, but until they can get the part issues properly addressed I can't in good faith recommend the car to anyone that needs a car to commute to work everyday. Both our son and son-in-law were tempted to gets 3's recently, but both opted for something else when they learned about the problems with getting parts. They both commute in the busy, bumper-to-bumper highway traffic every day, and can't risk losing the use of a car for months. Bottom line, I can see why insurance companies may balk at insuring the Tesla's. Consider the poor claims adjusters that get bonuses tied to how quickly they resolve the open claims and keep their customers happy.

My suggestion, find a reputable local agent/broker that can solicit many bids from numerous insurance companies on your behalf. Chances are they have even come across this before and know of a few places that will offer reasonable quotes.

TranzNDance | 23. Februar 2019

Focusing on car parts is pretty limiting when considering that human body parts fare so much better in Tesla's cars. Talk about irreplaceable!

SO | 23. Februar 2019

@TranzNDance - exactly. Priorities

jon | 23. Februar 2019

$808/ 6 mo. for ‘18 75D. $500/$500 deductible. Bundled with homeowners and a ‘15 ml350. USAA.

aviator172rr | 23. Februar 2019

2014 Model S 85
Socal
Geico
29 years old with 10 year driving record
Clean record
Respectively high coverage

$145 a month

p.c.mcavoy | 24. Februar 2019

@Goozin - Check to see if you are allowed in your state to not cover the young adults on your car. Some states allow this, some will not. I found that in Indiana where I live I could insure my MS with a separate carrier on a separate policy that only names my wife and myself. While my two teenage daughters still on our policy were a little disappointed they don't get to drive the MS, not sure I would have allowed it anyway and it save me a decent amount on insurance.

As I said, ability to do this varies by state. I've not bothered researching Texas rules, but you might want to work with a good independent agent on something like this.

sentabo | 25. Februar 2019

Hartford is charging me $1374 per year here in the SF Bay Area. I'll be curious to see if they continue my coverage when it is due for renewal in a couple of months. Several have posted that Hartford is no longer covering Teslas. Whether that applies for existing customers remains to be seen.

RandallKeith | 25. Februar 2019

65 years old
No tickets or accidents
Southern Wisconsin
500,000/ 1 million
$1000 deductible
$554 a year Erie

dougk71 | 26. Februar 2019

Hartford may have a large percentage of its investment portfolio in Big auto and Big oil. Perhaps its reluctance to understand true risks comes from its Wall Street type management and these investments. If Hartford can dissuade its customers from buying EV's they could possibly feel they are doing their part in helping Big oil.
Just saying.