Forums

Insurance on your Model 3

Insurance on your Model 3

I haven't seen a thread on insurance yet. What have you been quoted for insurance and from what companies?

calvin940 | 29 juin 2018

My local Allstate (East Coast Canada) agent told me this:

Sorry for the delay in responding. The 2018/2019 Tesla model 3’s are not showing in our system as of yet. Without a VIN I’m unable to get a rate group for this vehicle.

I’ve, therefore, calculated an rough estimate based on a Tesla model S. The annual premium for the model S would be approximately $850 - $900.00. I expect the cost to insure the Model 3 would be in the same vicinity. If at any time you are able to obtain a VIN for the model you are looking at, please let me know and I will be able to give you a more accurate quote.

Thank you!

walt2810 | 29 juin 2018

just under $600 for 6 months in SoCal with Wawanesa.

azuiot | 29 juin 2018

$550.08 allstate per 6 months

sroh | 29 juin 2018

$429 for six months with Ameriprise. This includes multi-car discount, auto/home policy discount.

Magic 8 Ball | 29 juin 2018

Does the coverage include drunken summoning?

sroh | 29 juin 2018

That costs extra. A lot extra.

lolgas | 29 juin 2018

$179/m, 100/300/100 liabilitiy, $250 comp ded. $1K coll ded.

I'm under 25. :(

wiboater4 | 30 juin 2018

someone on another thread had State Farm and said it went down with the Tesla.

matt80206 | 30 juin 2018

Mine said can’t quote without a vin and tesla can’t give a hypothetical vin for purposes of quoting FYI so I just ordered the performance and hoping for 2k a year

Patrick | 30 juin 2018

$10,000 2008 Lexus ES350 is currently $600 per month with USAA.

$60K M3 was quoted at $630.

Should’ve started an insurance firm long ago...

rameshshahfl | 30 juin 2018

Geico, estimate given to me without VIN No, in Tampa Florida $700/6 months. 1000 deductable, 100/300/ Liability. I'm paying $500/6 months for Merc Benz C300, yr 2009 same coverage

Patrick | 30 juin 2018

Correction to last post - per six months

qqaaplz | 30 juin 2018

@sroh What is your coverage?

louisk | 30 juin 2018

USAA quoted me about $5 less per 6 months than my 2016 BMW i3 was costing me and I increased coverage on my Tesla a bit... so at least for me my rate is roughly equal for the Tesla vs the BMW i3. Obviously ymmv based on company you use and your driving record.

qqaaplz | 30 juin 2018

Could you guys be more specific when referring quote, such as coverage, w/ or w/o home discount, multiple car discount, age range.

louisk | 30 juin 2018

@qqaaplz, none of that is relevant for my answer as all my discounts and age and driving record are consistent, so the point for me is that the rate USAA quoted me to cover a new Tesla M3 is roughly equal to the cost I am paying for a 2016 BMW i3 for equal coverage (actually the Tesla will have slightly better coverage). So the point I was making is there is no premium I am being charged for the Tesla. I can't speak for anyone else's answers though.

MalibuRed | 30 juin 2018

Ok we are in CAlif. and grandfathered in with MetLife and getting quote of $1050/year $100/300/100, 100/comp deduct and $1000/coll deduct, rental and tow. Go to their website and see if avail in your state. Have had them for over 10 years great service with policy and claims

MalibuRed | 30 juin 2018

Ps Progressive would be my next choice and thrust liberty mutual that Tesla insure offers good coverage, MetLife offers glass deduct waiver for any glass issue (due to model 3 windshield/back glass current issues).

nicktrash | 30 juin 2018

I got a quote from Allstate several months ago, they pulled up the model 3 just fine. It was 890$ a year, which surprised me. I ended up going with my current Nationwide which was 490$ 6 months, they made some concessions on my other car which made it net net lower than the Allstate only rate.

Disappointed Id... | 30 juin 2018

$821/year, includes home & multi-car discount, plus, I’m 40, so that’s gotta help. I use Pemco (strictly available in the Pacific Northwest, I think)

dmokon | 30 juin 2018

State Farm New Mexico and am accident free for decades. $380 for six months including comp, collision, and $500 deductable.

gballant4570 | 30 juin 2018

dmokon, I alao have State Farm. I am expecting a similar insurance cost - it woukd be in line with my other car policies. But I haven't spoken to them yet. I reckon I better......

dragon_summie | 1 juillet 2018

All State quoted me $387 for six month
full coverage including...
100/300/100
$500/comp & coll deduct

i do have two other cars and a house with the policy

breezin | 1 juillet 2018

Geico
$745 for 6 months
500/100/500
Comprehensive Deductible: $250
Collision Deductible: $500

Also have 3 other cars on the policy. Have homeowners and an umbrella policy with them as well.

hamfish | 27 juillet 2018

Six month quote from State Farm $654.82.

This is closely comparable to cost of current policies with same variables for my 2011 Audi S5 and 2006 Porsche SUV.

This is a quote for a NY upstate area, where I have another vehicle, home owners ins., umbrella liability ins. and for a clean driver record with a 15 year accident free discount with State Farm.

Rates will vary widely zip code location, driver record, multiple policies for additional (cars,home owners or rental ins) and amount of coverage for liability, collision, etc. and state mandated amounts.

mwin | 27 juillet 2018

Travelers $482 for 6 months
500/500/500
$500 deduct - comp & collision
$50 deduct - glass replacement
St Louis

maki94118 | 27 juillet 2018

Farmers $1200/year covers . up to $500k - 2 way coverage. $1k deductible.

Thunder7ga | 27 juillet 2018

$575/6 months w/$250 deductible.

amanwithplan | 27 juillet 2018

$397 full coverage per 6mo. Progressive - NJ

NthMonkey | 29 juillet 2018

There are fixed costs for liability, uninsured motorist, etc. Variable with your older, less expensive car is likely collision.

ficheh | 29 juillet 2018

The one thing I'd recommend is getting replacement cost insurance and OEM replacement on items. I have CSAA and it was only $100 more for the entire year. Still cost less than my 2012 SLK350 was to insure.

DesignArt | 29 juillet 2018

$758 annual premium. Amica. The Model 3 is my third car.

Leela | 29 juillet 2018

It depends a lot by State... I have Travelers, the premium for the Model 3 is 18% more than a Mazda CX -5, same insurance rates.

Leela | 29 juillet 2018

I mean, same insurance conditions

SoulLessInSanJose | 29 juillet 2018

$830/year with liberty mutual. We have multi-policy discount. I believe it's a $1000 deductible with 100/300/100 coverage. The cost is actually lower than the Kia Soul EV we were leasing (get my forum name now?? ;-))

Tesla2018 | 29 juillet 2018

$310 for 6 months with Geico. Multicar discount and for some reason they transferred over my 30% Snapshot discount to the Tesla even though it doesnt have a ECU plug to monitor it. My other cars ECU is incompatable with Snapshot so they didnt give me a discount on that car.
They also gave me a senior citizen discount at age 55 for taking a safe driving course through AAA. Pretty scary taking a class with a bunch of 80 and 90 year olds that really shouldnt be behind the wheel since they no nothing about the rules of the road or how ABS works or what to do in under or oversteer conditions or how and which windows to break if you drive your car into a canal!

Tesla2018 | 29 juillet 2018

Oops I meant Progressive. I used to have each car on a different policy a few years ago. Also Progressive gives a paid in full discount if you pay your premium in full, so that knocks about another 10% off my bill when the policy renews so I am probably paying closer to $275.
I have 100/300 coverage with 1000 comp and collision deductible.

vb1 | 22 septembre 2018

I have Geico. I see the proposed rate on my model 3 will be somewhere between 700 and 800 per 6 months. I have 300/500 coverage.

@Tesla2018 - Would you mind sharing your coverage. I would love to pay just $310.

I'm wondering Geico is a bad bet for tesla cars.

omahagtp | 22 septembre 2018

I’m paying $399 for $500 deductible coverage with Progressive per 6 months for my P3D+. Pretty shocked by that.

omahagtp | 22 septembre 2018

I should add that I’m 32, also have home insurance bundled with Progressive, and just had SR22 lifted a few months ago.

wakanda | 22 septembre 2018

$352 for 6 months through Geico for 1mil/500/100 coverage. $100 ded for comprehensive and $500 for collision. Not bundled since my home insurance is with Amica.

vb1 | 22 septembre 2018

@wakanda - thanks!

I'm in NJ.Where are you from?

aurali | 22 septembre 2018

1000 every 6 months for 100/200/100, state farm.
colorado.

WonkoTheSane | 22 septembre 2018

State Farm said they don't have a 2018 Model 3 so they used 2017. They have me a rate of $72US/ month.

Model3Matt | 22 septembre 2018

As others stated, State Farm was way cheaper for us. Geico was $800 per 6 months and State Farm is 500 per 6 months. Huge difference after we switched.

guinnesman | 22 septembre 2018

Seems like the type of Model 3 would make a big difference. Wouldn't the P3D be a lot more to insure than the base model? You know, all that mind numbing acceleration and all?

I got a quote from Allstate for $800/6 months. But that's for the P3D. Seems expensive based on what I'm reading in this thread, but no one is stating which model car they have.

tanya | 22 septembre 2018

~$600 for 6 month by Geico with as little coverage as possible. AWD P+ EAP

stochasticat | 22 septembre 2018

I have $411 / 6 months through Geico.

500K/500K liability, 100K property, 500K/500K uninsured motorist, $250 deductible on comprehensive/$500 on collision, and roadside service

JDG-T3AWD | 22 septembre 2018

North of Boston I'm paying $713/yr from Plymouth Rock insurance.
Good coverage with $1K deductible.

vb1 | 22 septembre 2018

I was playing with numbers on Geico.com.
If i make my wife who had an accident 2 years ago the primary driver on the car, premium cost goes up to 995/6months
For me, the rate is 600+/6 months. Which i think is comparable for a car priced at 64K.

That's her first accident in 20+ years. oh well.

Pages