Cheaper 2010 Tesla Roadster Insurance Quotes

Searching for better insurance rates for your Tesla Roadster? Searching for the lowest cost insurance on the web may be somewhat difficult for consumers new to price shopping online. Because there are so many choices, how can you possibly compare every one to find the best price?

Comparison of Insurance

The are a couple different ways to compare quotes from different insurance companies. The easiest way to find competitive 2010 Tesla Roadster insurance rates is simply to get online rate quotes. This is very easy and can be done using a couple different methods.

  1. The easiest and least time consuming way to find the lowest comparison rates would be an industry-wide quote request form (click to open form in new window). This easy form keeps you from doing a different quote to each individual insurance company. Just one form will get you rate comparisons from several companies. This is by far the quickest method.
  2. A slightly less efficient method to obtain and compare quotes online requires a visit to the website for each individual company to request a price quote. For examples sake, we’ll assume you want rates from Farmers, Geico and GMAC. To find out each rate you need to take the time to go to each site and enter your policy data, which is why most consumers use the first method. For a handy list of car insurance company links in your area, click here.
  3. The least recommended method to get comparison rates is driving to local insurance agencies. Buying insurance online has reduced the need for local agents unless you prefer the personal advice of a licensed agent. You can, however, obtain prices from the web but still have the advice of a local agent and we’ll cover that in a bit.

It’s up to you which method you use, but ensure you are comparing the exact same coverage limits and deductibles on every quote you get. If you enter different deductibles it will be next to impossible to truly determine the lowest rate. Quoting even small variations in insurance coverages may result in large price differences. Just remember that more quotes will improve the odds of getting lower pricing.

These discounts can lower your rates

Properly insuring your vehicles can get expensive, but discounts can save money and there are some available to reduce the price significantly. Larger premium reductions will be automatically applied when you quote, but some may not be applied and must be specially asked for before they will apply.

  • Lower Rates for Military – Being deployed with a military unit could be rewarded with lower premiums.
  • Passive Restraints – Vehicles equipped with air bags or automatic seat belts can get savings up to 30%.
  • Bundle and Save – If you have multiple policies with the same insurance company you may earn at least 10% off all policies.
  • Senior Citizens – Older drivers may be able to get better auto insurance rates on Roadster coverage.
  • Federal Employees – Employees or retirees of the government may qualify you for a discount on Roadster coverage depending on your company.
  • Multiple Cars – Buying insurance for all your vehicles on one policy qualifies for this discount.
  • Fewer Miles Equal More Savings – Fewer annual miles on your Tesla can earn better rates on cars that stay parked.
  • Payment Discounts – If you pay your bill all at once instead of making monthly payments you can actually save on your bill.

Drivers should understand that most discount credits are not given to the entire cost. Most only apply to the price of certain insurance coverages like liability, collision or medical payments. So even though they make it sound like all those discounts means the company will pay you, companies don’t profit that way. But any discount will cut the amount you have to pay.

A partial list of companies that possibly offer some of the above discounts may include but are not limited to:

Check with all companies you are considering how you can save money. Some discounts might not apply in every state.

Complexity of Tesla Roadster insurance rates

Consumers need to have an understanding of the factors that go into determining your insurance coverage rates. Understanding what controls the rates you pay helps enable you to make changes that may reward you with better insurance coverage rates.

  • Don’t buy coverages you don’t need – There are a ton of additional coverages that can waste your money when buying insurance coverage. Insurance for vanishing deductibles, accident forgiveness and membership fees may be wasting your money. These coverages may sound good at first, but your needs may have changed so eliminate the coverages to reduce your premium.
  • High crash test scores lower rates – Vehicles with good safety scores get lower rates. Safe vehicles protect occupants better and any reduction in injury severity means lower claim amounts and lower rates for you. If your Tesla Roadster scored better than four stars on you are probably receiving a discount.
  • Where you live is a factor – Being located in small towns and rural areas can be a good thing when insuring your vehicles. Fewer people means fewer accidents. Drivers who live in large cities regularly have much more traffic to deal with and a longer drive to work. Higher commute times means more change of being in an accident.
  • Do you work long hours in a high stress job? – Occupations such as lawyers, social workers and accountants tend to pay higher rates than average because of high stress levels and long work days. On the flip side, occupations such as actors, athletes and the unemployed have the lowest average rates on Roadster coverage.
  • A lapse in coverage is a bad thing – Driving your car without having proper coverage is a misdemeanor and as a result your rates will increase for letting your coverage lapse. Not only will rates go up, failure to provide proof of insurance might get you a revoked license or a big fine.
  • Your car’s features help determine rates – Choosing a vehicle with anti-theft technology or alarm system can help lower your rates. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart your vehicle from being stolen.
  • Poor credit can mean higher rates – A driver’s credit history is a large factor in determining your rates. If your credit score is not that good, you could pay less to insure your 2010 Tesla Roadster by improving your rating. Consumers who have excellent credit tend to be less risk to insure than drivers who have lower credit scores.

Different people need different coverages

When it comes to buying the right insurance coverage for your personal vehicles, there really is not a “best” method to buy coverage. Coverage needs to be tailored to your specific needs.

For example, these questions may help you determine whether your personal situation will benefit from professional help.

  • What is an SR-22 filing?
  • Is my state a no-fault state?
  • Do I have coverage when pulling a U-Haul trailer?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Do I have coverage when making deliveries for my home business?
  • Who is covered when they drive my 2010 Tesla Roadster?

If you can’t answer these questions but you know they apply to you, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, complete this form.

Misconceptions in insurance advertisements

Insurance companies such as State Farm and Allstate continually stream television and radio advertisements. They all seem to make the same claim that you can save after switching to them. How do they all say the same thing?

Insurance companies can use profiling for the driver that is profitable for them. For instance, a preferred risk might be between 30 and 50, owns a home, and drives less than 10,000 miles a year. A customer getting a price quote that hits that “sweet spot” receives the best rates and as a result will probably pay quite a bit less when switching companies.

Drivers who do not match the “perfect” profile will have to pay more money and this can result in business going elsewhere. The ads say “customers who switch” not “people who quote” save that kind of money. That’s the way companies can claim big savings.

Because of the profiling, drivers should quote coverage with many companies. It’s not possible to predict the company that will have the lowest Tesla Roadster insurance rates.

Auto insurance policy coverages for a Tesla Roadster

Having a good grasp of your policy helps when choosing appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy.

Coverage for uninsured or underinsured drivers – This coverage provides protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Because many people carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked. Normally these limits are identical to your policy’s liability coverage.

Liability car insurance – This can cover damages or injuries you inflict on people or other property by causing an accident. This coverage protects you from claims by other people. Liability doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 50/100/50 that means you have a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see a combined limit which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things such as funeral expenses, medical expenses and repair bills for other people’s vehicles. How much liability should you purchase? That is a personal decision, but consider buying as large an amount as possible.

Collision – This covers damage to your Roadster resulting from a collision with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things like damaging your car on a curb, hitting a parking meter, driving through your garage door, sideswiping another vehicle and scraping a guard rail. Collision is rather expensive coverage, so consider dropping it from older vehicles. You can also raise the deductible to bring the cost down.

Comprehensive auto insurance – This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like rock chips in glass, falling objects, fire damage and hitting a deer. The maximum amount a auto insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Coverage for medical expenses – Med pay and PIP coverage reimburse you for bills for things like rehabilitation expenses, ambulance fees and doctor visits. They can be used to fill the gap from your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and may carry a deductible

In the end, you save

Drivers switch companies for many reasons like extreme rates for teen drivers, an unsatisfactory settlement offer, unfair underwriting practices or even denial of a claim. Whatever your reason, finding the right insurance provider is pretty easy and you might even save some money in the process.

We covered many tips how you can save on 2010 Tesla Roadster insurance. The key thing to remember is the more rate quotes you have, the better your chances of lowering your rates. You may be surprised to find that the lowest rates come from the smaller companies.

Budget-conscious insurance can be found on the web as well as from independent agents, and you should compare price quotes from both to have the best selection. Some insurance companies don’t offer online price quotes and these smaller companies work with independent agents.

For more information, link through to the resources below: