Model 3

Best Insurance Companies for the Model 3?

edited November -1 in Model 3
I currently have Geico and considering I went from a 2015 Toyota Camry SE to a Tesla, I knew I was going to have a price jump but $100+ more a month has me wondering if I can find a better deal on a good insurance company.

Looking for good full coverage insurance in Texas, any suggestions would be appreciated.
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Comments

  • edited April 2019
    I went with Costco/Ameriprise and saved $1000 coming from AAA for my M3 and another car. I also priced GEICO and it was competitive so I'm not sure you will do much better.
  • edited November -1
    I have Geico. Adding the Tesla and replacing my old car I increased about 530 a year. Not bad considering the other car was 6 years old and paid off.
  • edited April 2019
    Geico had the best rate I could find on my previous vehicle (2015 Ford Fusion), but Progressive had the best rate I was able to find for my Model 3. Car insurance rates vary widely based on drivers, vehicles, and locations (even down to specific zip codes). Your best bet is to just get new quotes every time your situation changes (e.g. getting a new car, changing residence, etc.)
  • edited April 2019
    I think there are too many variables to say one company is the best, Will really depend on your personal situation. For me, i had a multiple car discount and bundled with my home insurance with Allstate, so I got a great rate. Others have said Allstate was really expensive.
  • edited November -1
    I appreciate the feedback everybody. I understand that there are tons of variables, just looking to see who ya'll used and I was going to get quotes on all the companies compiled to find the best deal.
  • edited April 2019
    Just Switched to Progressive, for my M3 I received a "Smart Technology Discount", and rate went back to what I had before buying the M3.
  • edited April 2019
    These Insurance polls are worthless.
    Insurance rates are based on so many variables: Age, # of cars insured, Location, Do you own a home, Driving record, # of miles driven, # of accidents, # of tickets, & on & on.....
    While someone may be getting a great rate from Geico, or progressive or whoever, that means nothing in your situation.
    You need to contact each insurance company & get a quote for YOUR situation.
  • edited April 2019
    We got very good rates from USAA. The sales agent cited Tesla's safety record as the reason.
  • edited April 2019
    www.cheapshitinsurance.com
  • edited November -1
    Geico has been the cheapest by far for me compared to all the other big insurance companies that I contacted.
  • edited April 2019
    I went from a 2017 Chevy Bolt to a 2019 M3 and the difference was 39.00 every 6 months I save by taking away road side assistance as it comes with M3. Geico
  • edited November -1
    As is @mikeband1’s experience, if you’re eligible at least check out USAA, based in San Antonio. I periodically check coverage rates with other insuror’s and have found USAA to be very competitive. Also on the plus side, I’ve had three claims over 50 years with them and their auto claims handling was superb each time...not the horror show I’ve heard about with some other carriers.

    As a suggestion, consider the premium costs, but get some indication of how that company handles claims. When you need it, the latter can be an easy or highly stressful event.
  • edited April 2019
    I have traveled and pay about $500 every 6 months. I have have a couple claims over the years and they always made it pretty painless.
  • edited April 2019
    *travelers
  • edited April 2019
    Just curious if you get glass insurance will it cover the roof?
  • edited November -1
    Don't chase the "best price". With car insurance all you really care about is how well you will be treated/taken care of when you have an accident. Go to a couple different body shops and ask them which companies are better to deal with. If you have a crappy, knuckle dragging insurance company, that the body shop knows it will have to fight tooth and nail to get reimbursed, just how quick or how much love do you think your car will get........
  • edited April 2019
    I have been with Farmwers for 10+ years. They suddenly increased premium for more than 25% for both my M3 and BMW5. No accident, ticket, nothing.

    I am definitely to switch insurance. My current policy expires in two weeks so I need to act now. what is the fastest way to shopping around? go to each one's website, geico, progressive, etc, or any 3rd party website that provides quote from multiple companies with comparion charts ?

    Advice appreciated.
  • edited April 2019
    I have 2 Teslas (X & 3 Performance) on Ameriprise through Costco in CA. It's about $600/6 months for 2 drivers. This is the best quote I've received by a long shot but then again I've been with Ameriprise for something like 12 years.
  • edited April 2019
    And I should mention that's with $500 deductibles and GAP coverage. I also have the highest coverage limits available as I needed that for my umbrella policy.
  • edited July 2019
    I just switched to Ameriprise through Costco in CA. I ended up bundling my home insurance as well and saved even more. Overall I'm paying about the same saving about $40 a year with adding my Tesla M3 and removing our older car (2013) with better coverage for my home as well. So basically no increase in my insurance costs. Thanks @dmanincali for the Ameriprise referral.
  • edited July 2019
    Farmers wanted $2500/yr, I changed to Allstate and got $800/yr with $500 deductible.
    Also, calling local agents for price quotes is faster than filling out their online forms.
  • edited July 2019
    I saved $20 from StateFarm switching my Audi A6 to the M3. I pay $1,300 per year.
  • edited July 2019
    Hey everyone,

    If you're in CA, TX, CO, WA, OR, or NV, please contact me for a free, non-obligational auto insurance quote! My credit union has helped other Tesla owners with this issue. Shoot me an email at [email protected] if you're interested!
  • edited November -1
    I have had State Farm for many years. Combined home, three cars, personal articles floaters and excess liability coverage. They are a first class operation. Substituting my Model 3 for my 2008 LS460 (sold) didn't raise the premium that much. Any damage to the Tesla will cost thousands. You get what you pay for.
  • edited November -1
    I have Liberty mutual. They are not the cheapest, but their claims service has been excellent. They gave me a significant premium over the replacement cost of my model 3 without any issues. I also got a deer in my model S a year ago and paid the whole thing minus deductible without any issue at an approved Tesla body shop.

    Cheap rates are great until you have a claim and the company nickels and dimes you.
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