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Anyone's car insurance went up in 2019? 37% NJM!

Anyone's car insurance went up in 2019? 37% NJM!

Got Tesla M3 AWD AP last October, premium was $1,568.
Come 2019 it's now $2,147.
No changes to the policy or accident/points since.
I wrote NJM to inquire the season.

Liability stayed the same.
Uninsured motorist went up a little bit.
Comprehensive went from $208 to $388.
Collision went up the most from $571 to $932.

Let me know if you experienced the same for 2019 renewal.

For comparison BMW X1 is $1,175.

joe.lynn.atp | 1 marzo 2019

Time to shop around. My insurance renewed in January without an increase.

Robocheme | 1 marzo 2019

I use Metromile because I don't drive very much. When I got my 3 in December 2017, the base monthly rate was a couple of dollars less than my son's 2013 BMW 328i and the cost per mile was also cheaper. Recently, it's flipped where the monthly charge is more than my son's as is also the cost per mile charge.

apodbdrs | 1 marzo 2019

Yes, I got my renewal and of course it went up; new car, plus the insurance companies are all playing dumb because they say they don't have enough information on TESLA etc. Plus the trolls, and anti-TESLA world is doing everything they can to discredit TESLA. Car fires, crashes, thefts, consumer reports etc., however when you compare TESLA to ICE vehicles TESLA is the safest vehicle, lowest fires, almost impossible to steal, etc. Just BULLSHIT to collect money from rich TESLA owners.

jithesh | 1 marzo 2019

I paid for 1 year upfront.. Can they still increase my premium till that 1 year ?

Tuning In | 1 marzo 2019

Yes ours went up as well, but only on the LR RWD which now costs about the same as our P3D+. We're with State Farm and I shopped the other major companies as well. All within $200 of each other. None of them charged greater than $100 less per year for the LR RWD. I can only imagine the outrage that will come with making someone with a SR Base pay the same as a P3D+.

M3phan | 1 marzo 2019

We had Farmers for 15 years, and at renewal this January the premium almost doubled to $400 a month for our two cars… My LR RWD M3 and my wife’s 2019 Toyota 86 GT. Shopped around and went with Liberty Mutual who is giving us even better coverage we had with Farmers, for our two cars comes to 188 a month for the next 12 months.
Shop around.

Tuning In | 1 marzo 2019

Thanks for the tip. I'm always ready to move from State Farm but end up hesitating once I read reviews. This time it was Value Penguin that I read up on.

Personal experience in the distant the past when I had a discount insurance company where someone had hit my car at a stoplight (their fault, they admitted it, their insurance paid) and my insurance company was slow to respond, slow to approve repairs and then dropped me because somehow "high risk". That was after 5 years of paying premiums. A big part of the reason to get insurance is piece of mind.

M3phan | 1 marzo 2019

Yes I am more comfortable with name recognized car insurance too.

Zidarich | 1 marzo 2019

New Jersey Manufacturers?

njchillie | 1 marzo 2019

I have NJM as well and just renewed last month. It stayed pretty much the same. Very happy with their coverage and service.

Lonestar10_1999 | 1 marzo 2019

I just got a quote from New Jersey Manufacturers for the base Model M3 based on the 2018 model year for rear wheel drive. I will be dropping my 2013 Prius 2 at $760 per year and adding the M3 at $1250 per year.

Since I don’t have a VIN for the M3, my price quote is a ball park estimate only.

Passion2Fly | 1 marzo 2019

Yes, Geico in California jacked up my price by 40% this year. They blame it on the brand...

jimglas | 1 marzo 2019

Mine is unchanged in colorado (state farm)

daddy88 | 1 marzo 2019

Just had a quote with Geico and it's $1,300 for both cars vs NJM $3,190.
Seems like a starting price to lure you in and jack up every renewal... you would think if they are using the same rate table it would be similar cost!

007bond | 1 marzo 2019

I have NJM and it is about the renew let's see...

Passion2Fly | 1 marzo 2019

@daddy
Yes, my first year with Geico was a great price. Second year, surprise!!

Hassancook24 | 1 marzo 2019

Hey everyone,

I work for a credit union that has an insurance dept. They can run your info thru multiple carriers to find the best rate for you. It's completely no-obligation. If you live in CA, CO, OR, TX, WA, or NV I may be able to help! If interested, just send me an email at hassancook24@gmail.com. Thanks!

roberts | 1 marzo 2019

I live in Ontario. I am currently paying at a rate of about $900 per year. It has actually dropped from the first six month rate of a just over $1,000/yr

RES IPSA | 1 marzo 2019

State Farm in San Diego just sent me my 6 month premium. For full coverage, it went from $354 (Sept 2018 to March 2019) to $508 for April 2019 to Sept 2019.

I called them and reminded them that my LR RWD was rated the safest car the NHTSA has ever tested last Fall. Also, my plan is cheaper if I drive less than 12000 miles a year. I have only 5100 miles on the car since delivery in Aug 2018.

My agent said that insurance companies got the "word" that the Tesla Model 3 is very expensive to fix and repair after an accident and that is why it was increased so much.

Tuning In | 1 marzo 2019

If that’s the reason then it makes sense why there isn’t much of a difference between the P3D+ and the LR RWD. Thy share the same body and would require the same repair.

40milecommuter | 1 marzo 2019

Geico raised my rates by 40%. I've been with them for 20 years and they could care less. Got a better quote from Ameriprise and will be switching in 30 days.

ODWms | 2 marzo 2019

Esurance hasn’t raised my rate from last year’s.

h2ev | 2 marzo 2019

We were with NJM for 20 years before switching to Geico when I ordered the Model 3 last August. For the first 12 years or so, they were by far the cheapest, with the nice annual dividend check. Since then, they've raised the premium every year. With perfect record, our two car premium went from ~$1200 to $2000 over that period.

Before I ordered my Model 3 last year, I asked NJM what the annual premium would be and I was quoted around the same about $1500/yr. In addition, I asked what the premium would be to add a teenage driver which I was quoted $1600. Then I received another one of Geico's junk mail and finally decided to give them a try. With Geico, our two car two driver premium with the same coverage was nearly halved, plus adding a teenage driver adds $600 a year. I switched before my Model 3 arrived. I just renewed with Geico. It went up $5 due to a newly added fee. NJM auto insurance is now open to anyone in NJ. Perhaps that will allow them to be more competitive. Additionally, unlike NJM which you'd have to call them about anything, with Geico everything can be done online or in mobile app.

TLDR, our premium with NJM was $2k/yr for two car two driver. With Geico, 3 cars 3 drivers is $2400/yr, with the Model 3 and a teenage driver.

patpeke | 3 marzo 2019

I had Mercury in California- they had no rates for the Model 3 last September, so I switched to Ameriprise (via Costco). Wow. My six-month rate, same coverage as my old Ford Cmax, was $300 less, per annum! So imagine my surprise when my savings evaporated at the six-month renewal mark- now it's up to almost $1800/yr (I drive 25,000 miles/40,000km per year, and in Cali the rates are based on your actual driving record and annual mileage, not on your zip/postal code). So needless to say- a bit surprised - a bit of a "bait and switch" feeling. But I'll see what happens in September, when the next renewal comes due.

jjt2122 | 3 marzo 2019

I got geico, renewal was in Feb, no increase, took delivery in August 2018.

jamespompi | 4 marzo 2019

My 6 month progressive policy went from 499 to 578, but I think it partially had to do with having body work done even though it was a comprehensive claim. I wouldn't be surprised if insurance companies are upping the costs after paying the bills for some of these insane body work bills, in my experience these certified body shops are taking advantage of being one of the few around and price gouging the crap out of these insurance companies. Tesla ended up being able to do my body work (it was scratches they just required wet sanding and painting) after a lot of back and forth. They originally sent me to another shop (Dayas) who quoted me at almost $12,000 Tesla did it for $2300..

Even though it was covered under insurance, I was upset about this, sent everything I could to Tesla and they were very interested in getting to the bottom of it.

End rant.

gmkellogg | 4 marzo 2019

Mine actually went down.

kcheng | 4 marzo 2019

Tell your insurance the value of the car went down, so it should be cheaper!

j.nichol | 4 marzo 2019

I just went through my policy carefully and here's what I have for the LR AWD through USAA:

$80.71/month
$300 deductible
Optional bodily injury liability: $100,000/300,000
Property damage liability: $100,000
'pleasure' vehicle - low mileage

j.nichol | 4 marzo 2019

(the above is with another vehicle on my policy--I split the portion that wasn't attributable to either individual vehicle and tracked the costs that were)

007bond | 1 aprile 2019

I have NJM ins on the M3 last policy $1486 it just renewed for 2019 and jumped to $2361 no other changes on the policy.

gballant4570 | 1 aprile 2019

Sounds like the previous rates were awful high....

daddy88 | 1 aprile 2019

@007bond I switched to Geico for my car insurance. What NJM told me was that the VIN was re-rated as a Performance model... and wanted me to fax in vehicle documentation, etc. You could try that first if they give you the same reason.

wyatt57350 | 2 aprile 2019

Live in South Dakota and insure through Progressive. Just received my notification for renewal and the price has remained at $331 for 6 months (100/300/100 with a $500 deductible).

wyatt57350 | 2 aprile 2019

So, I was looking at the wrong period. It actually went up to 397 from 331 for 6 months period.

Carl Thompson | 2 aprile 2019

@007bond:
"I have NJM ins on the M3 last policy $1486 it just renewed for 2019 and jumped to $2361 no other changes on the policy."

Wow! Is that for 3 years? Because if it's for one year you're being robbed unless you're a terrible driver.

007bond | 2 aprile 2019

@daddy88 just called NJM sure enough they claim the serial number comes up as a performance. It is not I have the window sticker and know what I paid so sending the docs they claim that will lower the policy back to what it was.

But this could prove some of the rumors that in the beginning all the AWD cars were performance models and the only diff is the software loaded on the car.

Anyway let's see what they do with the paperwork and the rate.

Thanks for the heads up on the perf details.

mz76 | 2 aprile 2019

I just called NJM as well. I have LR AWD, Non Performance, and the insurance guy said it's listed as Performance. However, he said all the M3s they have are listed that way and it doesn't impact the price. They go directly off the VIN and mine was correct. He said once more data comes out on the 2019 model, the price may drop for everyone, which NJM will send out notification.

mamafuzbot | 2 aprile 2019

I've had NJM for years and am hesitant to drop because they are excellent on claims and service. Last year, when I added the Tesla and dropped the MINI - same coverage - the premium increased by ~ $400. I was told that was due to the higher value and it being a new vehicle (MINI was 7 years old and about $15,000 cheaper when purchased).

I live in PA and was told in 2019 that they received a rate increase approval from the state of PA, which is why my annual went up ~ $280 this year. I am considering shopping around, but am wary about the "teaser" rates I know are out there, having experienced it before.

LR RWD

amanwithplan | 2 aprile 2019

I never had any luck with NJM, I know they are non-profit and share their excess revenue with their customers, but I always see a much higher rate from them than other insurers.

I currently have Progressive and am paying $854 per year for: 15/30 BI, 15/30 UI, $100 Deductible on Comprehensive, $750 on Collision.

Kataniki | 2 aprile 2019

USAA here, $404 for 6 months - for comparison, 2005 Prius was about $300/6 mo. My husband's 5 year old Mazda 3 is $396. My husband is not amused....

007bond | 2 aprile 2019

@mz76 does not make sense in 2018 the performance model if I remember was about 15k more so so seems odd that an ins co would have the same rate for both. In any case the rep clearly told me the performance model cost more to insure when she ran a rate check. That's why she said if you really don't have a performance model email in the window sticker as proof to get your rate down. She also confirmed that last year my car was on the policy as a non performance since when I had called to put the car on my policy they could not even pull up the VIN. In fact when I put the car on I had to get proof from Tesla and send it to NJM that the VIN was indeed the VIN since NJM could not find it in the database. Then she said when my policy renewed it came up as performance model and that is why the policy jumped up almost 1k.

Time will tell whos rep was telling the truth if my rate drops in a few days to what it was the rep I spoke to was right if it stays the same then your rep. In any case if they are rating the non perf and the perf the same that would be wrong since there is a price diff and perf diff.

MillennialVet | 2 aprile 2019

FARMERS

2 cars. 12yrs old & 5 yrs old

I have Farmers Insurance. My current policy 6month/cost $1185/ Comprehensive and Collision Deductible $1000 ).
500,000/Bodily Injury
100,000 Property Damage
500,000 Uninsured Motorist

Since then little later the agent convinced me to included home insurance bundle for a discounted rate. I agreed. Fast forward to today, April is my renewal month. My auto insurance actually increased total of $1,369.06 when I didn't have the home insurance bundle. Bait and switched. Im losing a lot for insuring a 12year old and 6 year old cars. This looks awfully wrong?

ill attempt to lower the coverage before renewal to 15/30 and comeback here for followup post.

MillennialVet | 2 aprile 2019

USAA

2 cars. 12 years old & 5 years old

I did the same exact Farmers coverage comparison from my previous post to USAA
I was quoted almost exactly the same.
USAA quote was $1327 six month auto premium $221/monthly

I wanted to mention FARMERS is not as bad as I thought since USAA almost charges exactly the same rate for both of these cars.

TELSA MODEL 3 Standard Plus and USAA

USAA was able to pull the cars info via VIN #

500000/500000/100000. $500 deductible comp&collision
Total six month Premium $976 at $62 per month

Note above quote included: Annual Mileage Discount:$50 because this car will be driven <12k miles/year.
Antitheft discount $21
New Vehicle discount$123

Fredvanngo | 3 aprile 2019

My Geico is up 40% for the model 3 and looking around for better deal...

4barkie | 3 aprile 2019

I got my m3 6/21/18. This year the premium is less. Coverage stayed the same. I am in NorCal and have State Farm.

007bond | 4 aprile 2019

@Fredvanngo see if Geico has your car rated as a perf model (assuming it is not). Seems the ins on the perf model is more and many non perf VIN's are in the database as perf models. Worth asking since this issue came about between 2018 and 2019 renews.

Fredvanngo | 4 aprile 2019

I do not know where to check if it is rated as PERF model ? the VIN is correct as it is not. I asked Geico and they said the rate is just gone up in California in general and checking around with other insurances are the same or higher ! Thanks

007bond | 4 aprile 2019

@Fredvanngo you just need to ask the ins co. For example I asked my ins they said VIN comes up at perf model in our database just send us the window sticker to prove it is not a perf model and we will adjust. Still waiting on the new rate will post when I know what it was lowered to.

Same error can happen when you shop around you will get higher quotes if the VIN pops at perf and you do not have the perf model.

mamafuzbot | 4 aprile 2019

Just got off the phone with NJM again. The rate increase was also related to a higher "ISO" code as determined by the state, which rates, among other things, cost to repair. The ISO for comp went from a 41 to 55 and for collision from a 43 to 59. The rep noted that is a large jump, and it can change up or down based on experience, which is rated annually by the state. So my annual went up after the 2018 ISO codes were updated, reflecting the state's experience with reported Tesla repair costs.

FYI EARLIER POST:
I've had NJM for years and am hesitant to drop because they are excellent on claims and service. Last year, when I added the Tesla and dropped the MINI - same coverage - the premium increased by ~ $400. I was told that was due to the higher value and it being a new vehicle (MINI was 7 years old and about $15,000 cheaper when purchased).

I live in PA and was told in 2019 that they received a rate increase approval from the state of PA, which is why my annual went up ~ $280 this year. I am considering shopping around, but am wary about the "teaser" rates I know are out there, having experienced it before.

LR RWD

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