Insurance Quote

Insurance Quote

Has anyone had a firm quote from their car insurance company about the cost of insuring a Model S?

cerjor | July 16, 2012

I just got a quote from State Farm for $537/6 months. We get multicar + home discounts.

Steve841 | July 16, 2012

I wash shocked to see it listed on Progressive ....

Quoted $388/6months here in S. Fl ... and that is reasonably shocking.

We'll see what changes by the time it arrives.

GLO | July 16, 2012

I was told by USAA that to expect it to be similar to a comparable priced car such as a BMW or similar. I did this research before the June 22, deliveries. Now that's out, we should be able to get better quotes.

jerry3 | July 17, 2012


I pay a bit less than $500/6 months for two Prius from Progressive, so I'm not surprised at the price. Progressive bases the cost more on your credit rating (and driving record) than they do on the vehicle price.

mw | July 17, 2012

State Farm quoted me $430/6 months in Ohio with home and multicar discounts. I currently pay 200 on an 11 yr old Bonneville.

Sousaphil | July 18, 2012

I'm paying $389 for a 2008 Prius and received a quote of $640 from Progressive. I live in AZ and have been with Progressive for 6 years. Looks like I may want to shop around...

sagebrushnw | July 19, 2012

Checked with my Pemco agent a few days ago and after he did some checking he came back with a ball-park figure of about $700/yr...about the same that I am paying now for a 2010 Ford Fusion Hybrid. I suspect that the quote will be higher if/when I get a Model S.

lightly | July 20, 2012

I just called my insurance provider Peerless and they will not insure as it is a "limited run" production car. What's up with that? I guess they'll be losing all of my auto & homeowners insurance to someone else.

Teoatawki | July 20, 2012


Perhaps they were confused and thought you were referring to a roadster?

suegie | July 20, 2012

I got a quote of 98/month for a Signature Model S.

nolngr-grsing-s... | July 20, 2012

I asked Erie Insurance, they could not find it in there system. They kept asking for a VIN. After a while, my local agent worked up a number, $800.00 a year based on the MSRP.

Steve_W | July 25, 2012

I posted on TeslaMptors Club that I was quoted by Amica a cost of $1800/year for 500K of liability. People told me that was high and I should shop around. I spoke to USAA todasy, and they quoted me higher rates than Amica for my current autos. Further, when I asked for a quote for the Model S, I was told that it would be $2600 plus some change for 1 year (USAA quotes 6 months terms, so need to double their quote. So it seems Amica is not high. For reference, I live just outside of DC, two drivers, no tickets, and the total premium for my 3 current cars are only slightly higher than the cost of the Tesla alone.
My son takes his driving test in August. Assuming he gets a license, the cost for insuring the Tesla will be an additional $2600 (above the above noted quote), eventhough he will not drive the car. I was told that in Maryland, he needs to be listed for every car, regardless of whether or not he actually drives the car.

Peter7 | July 25, 2012

Steve, I'm in MD too, (20878) and have a quote from Geico for ~800/yr but I am in their top tier. I'm not sure where you are but it sounds a little high.

You can exclude you son from your cars(though some insurances may not follow this) but he may need his own car, with his own insurance on it to be excluded while living in your house.

Good luck!


iholtzman | July 25, 2012

When did you call Geico? I checked with them about 2 weeks ago and they said they could not quote it.

Epley | July 25, 2012

@Steve: ouch!

Brian H | July 25, 2012

Introducing -- Tesla Insurance (for BEVs only)! Starting when they get around to it, probably about 2014. ;)

Brian H | July 26, 2012

I imagine insurers will keep rates high for some time till owners get over doing the "Tesla Hop" (slow to a crawl and let a big space develop, then goose it till they can see the whites of the driver ahead's eyes in his own rearview, then let off completely, repeat, repeat ...).


Peter7 | July 26, 2012


About a month ago, they did note that they probably wouldn't insure the car in other tiers; I've had my insurance with them for over a decade, and a perfectly clean record.


Sudre_ | July 26, 2012

Has anyone every done a Surety Bond? (if I have that right) Some states do not require insurance if you can prove you can pay for an accident. I've just started to look into it myself. Don't even know if MO allows it.

JoeFee | July 26, 2012

The high cost is one thing foe a 100K car but if you get a speeding ticket >30mi over the limit, your ins can go up 20% or more (and stay up for years). Ouch!

BYT | July 26, 2012

Traffic School!!

mw | September 22, 2012

Since I got my VIN on Sept 10th, I sent my MVPA and VIN to State Farm. Now the quote is $530 every six months. That includes my multiline and accident free discounts and a rental loss of use rider for $25 that I will get rid of when my car arrives. I asked why it went up from previous quote (posted July 17). They said the purchase price went up. Assuming they used an ~80k number instead of actual 100k. Still not bad. This is in Ohio.

HaroldS | September 23, 2012

Try Liberty Mutual. I bought a year at $420, including zero deductible comp and additional liability coverage.

nickjhowe | October 4, 2012

@HaroldS - was that a regular commute policy or a 'weekender'? When you say you 'bought' you mean you currently insure a Model S through Liberty for $420 a year?

dahtye | October 4, 2012

I stopped by the local AAA office (SF bay area) and requested a quote for my Sig Performance Model S. I brought in my Tesla quote showing the new purchase value of the car.

AAA did not have Tesla in their system. The person helping me with the quote knows about Tesla and the Model S, so she was able to get me a quote using their system - she reiterated that it's just an estimate. She quoted about $1600 for the year based on very good driving record and having been with AAA for many years and 16K miles of driving per year. She said it was high due to the value of the car.

I know AAA is not the cheapest insurance around, but my wife feels the service we get from AAA (when we need it) is the best. So, I'm ok paying the higher rates that AAA charges - for that peace of mind.

Also, keep in mind that the SF Bay Area has one of the highest insurance rates in the country - perhaps NYC, Chicago, and LA would be a bit higher.

She did mention that picking up the Tesla, I will be automatically covered due to my current "full coverage" that I have from AAA. Once I pick up the car, I need to bring it into the office to officially add it to my policy.

Teoatawki | October 4, 2012

Bring it into the office. Wink. Wink. She just wants a ride! ;D

dahtye | October 4, 2012

@Teoatawki....I was thinking the same thing when she mentioned it. In theory, they don't really need to see the car - they didn't ask about my Prius 5 years ago.

Brian H | October 4, 2012

The high rates just mean there are lots of crashers with great opportunities to exercise their talent in SF!

dahtye | October 8, 2012

Darn bad drivers in the Bay Area! But at least I will be protected by the 5 star safety rating!

Brian H | October 8, 2012

Yeah. But until production hits stride, you'll have to wait 8-12 months for a replacement if your car is totalled!

dahtye | October 8, 2012

But at least we have our lives still (I hope).

I wonder what it will take to "total" a Model S that costs $110K? Normally, the insurance company looks at the damage and determines whether the cost to fix the damage is over the value of the car (at the time of the incident). But then again, with so much aluminum and the huge battery pack - repair costs could go up quite fast.

BYT | October 8, 2012

What if a Signature holder totaled their car? No replacement Sig!

Volker.Berlin | October 10, 2012

But until production hits stride, you'll have to wait 8-12 months for a replacement if your car is totalled! (Brian H)

What if a Signature holder totaled their car? No replacement Sig! (BYT)

You won't believe it, but there has already been a thread on this! ;-)

ColonyGolfer | October 17, 2012

SW FL, Geico, adding my Tesla Sig perf. to my 2 Lexuses(Lexi?) for 6 months went from $600 to $1050.

portia | October 17, 2012

I just got a quote from Farmers for about $1600/year, higher liability than @krystimer 500/500/500 and $250 deductible, SF bay area, you have to compare apples to apples, if I go with a high deductible, the cost will be less.

mknox | October 18, 2012

I just got a quote from my insurance company in Ontario, Canada: $2,305 plus tax per year (I think he based it on the base model pricing of around $50k). I have multi-car and home/auto discounts and a clean record (no claims).

BYT | October 18, 2012

@Volker.Berlin, not only did I forget about that post, I forgot I had posted on that thread 3 times, last being February 7th. The memory is the first thing to go.

Even on that thread however, no post on how I get a replacement Sig, does the badging pop off the side lights on the Model S to fake it? :)

"Sure is a Sig, see the Signature badging?"

"But the VIN# is 24980, what's up with that?"

"Move along kid, you bother me."

skystream3.7 | October 18, 2012

State farm $344 non performance $362 Performance every 6 months

it was less than my TDI JETTA $399 6 months WOW

nickjhowe | October 18, 2012

@skystream3.7 - wow indeed! I think that's the lowest quote I've seen...

skystream3.7 | October 18, 2012

I have it on paper if you would like to verify?

JoeFee | October 18, 2012

I believe all quotes are not final until you have a VIN. You may want to "recheck" the low-ball quotes again at time!

Volker.Berlin | October 19, 2012

Even on that thread however, no post on how I get a replacement Sig (BYT)

That's because you can't. It's part of the thrill of owning a Sig. :-)

DrTaras-BreastCar | October 20, 2012

Anyone else previously totaled a Tesla and got another?

Can you rent a Tesla until your new one arrives?

Brian H | October 20, 2012

Heh. The GetAround idea is great. But there're only those 2 Roadsters in the system ($75/hr, weekends only, in LA, and $50/hr, anytime, in Chi.). All other models in the system are $3-$13/hr.!

No Model Ses in there yet, and I doubt there will be for some time.

Diane | October 20, 2012

I have my Signature insured by American Family in Wisc for about $100/month. I too was told it was based primarily on the MSRP, not anything regarding the car itself.

Peter Spirgel | October 22, 2012

Received a quote of $1,507/year from NJ Manufacturers Insurance for my upcoming Signature Performance edition.

pbrulott | October 23, 2012

just got a quote from my insurance company in Ontario, Canada: $2,305 plus tax per year (I think he based it on the base model pricing of around $50k). I have multi-car and home/auto discounts and a clean record (no claims).

Wow! This is expensive. First Canadian quote I've seen. Hope time will improve quotes in Canada. Cannot be higher than $1500 for me. After that, I'll reconsider my purchase.

Tesla229 | October 23, 2012

Received a quote today from AAA in Ladera Ranch, CA - $1,808/Yr. with $1,000 deductible, for fully loaded Sig. Performance (multi car & good driver discount included). They had to call the Newport Beach office for quote assistance, since they had never quoted a Tesla in Ladera Ranch.

Brian H | October 23, 2012

Checked CAA yet?

Joules II | October 23, 2012

There has been some discussion on Insurance rates in the Canadian section. I'm in Burlington, Ontario and Dominion has just quoted $1178 for a year. I had them quote on a Production Model S with 85 kw battery. I won't be driving the car to work. There are lower rates quoted for near Montreal, much higher rates in B.C. from ICBC as would be expected, I suppose.