Model 3

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Non-Performance insurance quoted for performance?

edited November -1 in Model 3
I inquired my insurance company why my M3 LR AWD premium jumped by 36% last week. Their reply:

"The VIN number is registered as a 2018 Tesla Model 3 Performance AWD and the rating factors for that vehicle are pulled directly from the Insurance Service Office which is used as a factor to calculate the premium."

Despite that I told them my car isn't performance model. Unless Tesla is going to give me a free upgrade to P3D (which ups my insurance premium...)

Comments

  • edited March 2019
    Which insurance company?
  • edited March 2019
    NJM. What's the VIN difference of a performance vs non-performance in the first few characters?
  • edited March 2019
    Unfortunately, there's no distinction between the AWD and the P3D as far as insurance is concerned. I got that rude awakening on my Geico renewal.
  • edited March 2019
    I think all of us will get a ride awakening when it's time for our insurance renewal....mine is up in April or May.

    Currently paying 700/ year. 250/500/250 according to wawanesa it's cheap bc there's no data on the car.

    S.Cal Wawanesa Insurance
  • edited March 2019
    @hpn it’s not like data would change the fact that these vehicles are the safest to drive, period. Unless 18 year olds are the ones buying performance M3s, and only driving late nights after college parties, wasted. Then I can see “data” making premiums on performance m3s going up and up.
  • edited March 2019
    Safe for the occupants in a crash doesn't necessarily translate to inexpensive to repair. That being said, I just renewed for basically the same rate as last year with state farm in California.
  • edited March 2019
    @lbowroom 100%. Makes sense. I was just playing devils advocate
  • edited March 2019
    If they are jacking up your insurance , shop around for a different company .
  • edited March 2019
    @tommy
    Data as in cost of repairs in case of accidents.
    Longer times due to having no parts (car rentals).
    Parts are expensive.

    That type of data.
  • edited March 2019
    We have a Performance and an LR. We have clean records with no points or accidents. The difference in our premium is $50 per 6 months. The rates at State Farm jumped up from $500 per 6 months to $900 per 6 months on the LR. Yes, we had them quadruple check to make sure that they didn’t make a mistake. I shopped with AAA, Geico, Progressive as well and they all have high rates on the Model 3.

    The repair costs are the culprit an all Model 3’s share the same parts aside from the motor(s).
  • edited March 2019
    @daddy88 The 8th digit of the VIN indicates whether it is a performance vehicle. If it is a 4 it is a dual motor performance. If it is a B it is a dual motor standard.
  • edited March 2019
    I don’t think that performance makes any difference. It’s a Tesla, that’s the reason... even my Model X rate was jacked up!
  • edited March 2019
    @njchillie not on the 3. they are identical
  • edited March 2019
    Passion2Fly I have State Farm and when I first got a quote it was higher because they had quoted me for a Model X it was a little over $500 for 6 months. . Later I called to verify it was set up before picking up my model 3. The girl at the agency said someting about it being a model X and I said no it was a model 3. This is back in August and at that time they didn't have the Model 3 listed in their database. Anyway to make a long story short the model 3 was only $333. to insure for 6 months so there is a difference between different model Tesla's.
  • edited March 2019
    By the way I just got my renewal notice and It's $317 for 6 months in Wisconsin Fox cities area. So mine didn't go up with State Farm.
  • edited March 2019
    M3P State Farm renewed in Dec. Live in VA.
    Six months 490.28 after discounts of 381.33.
    Not as good as wiboater4...but I feel this is a good price.
    Discounts for Multicar, Multiple Line and Accident free.
  • edited March 2019
    Yes insurance in the great state of California will always be bad compared to the rest of you. We have to buy insurance to cover uninsured motorists who are 15% of the population but cause 45% of accidents. Guess who ends up paying for the damage they cause through the inability to pay and/or by running away after the accident?
  • edited March 2019
    @njchillie: It's mostly correct, performance model 3s have a B in their VIN though. I just double checked mine to be certain.
  • edited March 2019
    I agree with those who say shopping around for better rates/coverage makes sense. Unfortunately in the insurance racket, loyalty means nothing. If you’re with a company X amount of years, more likely than not you’re being screwed no matter what you’re driving.

    I just renewed and my rate didn’t go up one iota. I can understand a couple percentage points when next renewal or the next after that comes. But anything drastic and I’m looking elsewhere. Trust me, somebody’s going to want my business.
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