Cheap 2014 Tesla Model S Car Insurance Quotes

Perplexed by the wide range of insurance coverage company choices? You’re not the only one! Consumers have so many choices that it can easily become a real hassle to find the perfect company for you.

You should take the time to shop coverage around yearly because rates are rarely the same from one policy term to another. Just because you had the lowest price for Model S coverage last year you will most likely find a better rate today. There is a lot of bad advice regarding insurance coverage online but I’m going to show you some solid techniques on how to buy insurance coverage cheaper.

The fastest way that we advise to compare rate quotes is to understand almost all companies pay for the opportunity to compare rate quotes. All consumers are required to do is give the companies some data including whether you drive to work or school, if the car is leased, daily mileage, and if a SR-22 is required. That information gets transmitted to multiple different insurance companies and they return cost estimate with very little delay.

Do you qualify for a discount?

Car insurance companies don’t always advertise all their discounts very clearly, so the following is a list of both the well known as well as the least known auto insurance savings.

  • New Car Discount – Insuring a new car is cheaper because new vehicles have to meet stringent safety requirements.
  • Fewer Miles Equal More Savings – Fewer annual miles on your Tesla can qualify you for discounted rates on garaged vehicles.
  • Distant Student – Youth drivers who attend school more than 100 miles from home and do not have a car may qualify for this discount.
  • Auto/Home Discount – If you insure your home and vehicles with one company you will save up to 20% off your total premium.
  • Theft Prevention System – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and therefore earn up to a 10% discount.
  • Club Memberships – Belonging to a civic or occupational organization could qualify you for a break when buying auto insurance for Model S coverage.
  • Early Switch Discount – A few companies offer discounts for switching to them before your current expiration date. It’s a savings of about 10%.
  • No Accidents – Drivers who don’t have accidents can earn big discounts when compared to frequent claim filers.

As a disclaimer on discounts, most discount credits are not given to the entire policy premium. Most only cut the cost of specific coverages such as comprehensive or collision. Even though it may seem like all those discounts means the company will pay you, companies don’t profit that way.

For a list of companies with the best auto insurance discounts, follow this link.

What coverages do I need?

When buying the right insurance coverage for your personal vehicles, there really is not a best way to insure your cars. Your needs are not the same as everyone else’s.

For example, these questions could help you determine if you would benefit from professional advice.

  • Is extra glass coverage worth it?
  • Is my custom paint covered by insurance?
  • How does medical payments coverage work?
  • Will my insurance pay for OEM parts?
  • How can I get my company to pay me more for my totalled car?
  • Is my cargo covered for damage or theft?
  • Do I need PIP (personal injury protection) coverage in my state?
  • Am I covered when using my vehicle for business?
  • Why am I required to buy high-risk coverage?
  • Is my vehicle covered by my employer’s policy when using it for work?

If you can’t answer these questions then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form.

Parts of the Tesla Model S rate equation

Smart consumers have a good feel for the rating factors that help determine auto insurance rates. When you know what positively or negatively influences your rates helps enable you to make changes that can help you get lower auto insurance prices.

The following are some of the items that factor into your rates.

  • Optional equipment can affect rates – Choosing a vehicle with an alarm system can help bring down rates. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart your car from being stolen.
  • Liability coverage protects you – The liability section of your policy is the protection if ever a jury decides you are liable for causing damage or personal injury in an accident. It provides legal defense coverage which can cost thousands of dollars. This coverage is very inexpensive compared to insuring for physical damage coverage, so drivers should carry high limits.
  • How credit affects auto insurance rates – Your credit score is a important factor in your rate calculation. Drivers with high credit ratings tend to file fewer claims and have better driving records than drivers with lower ratings. So if your credit score is low, you could pay less to insure your 2014 Tesla Model S by repairing your credit.
  • Mature drivers pay less – Young drivers are known to be careless and easily distracted behind the wheel so they pay higher auto insurance rates. If you’ve ever had to add a teenage driver onto your auto insurance can really hurt. Older drivers are more cautious drivers, tend to cause fewer accidents and get fewer tickets.
  • Are you male or female? – Statistics show women tend to be less risk to insure than men. Now that doesn’t mean women are better drivers. Women and men have accidents in similar numbers, but the men tend to have more serious accidents. Men also statistically receive more costly citations like DUI and reckless driving.
  • Careful drivers pay lower rates – Your driving record has a lot to do with how much you pay for insurance. Even a single ticket can boost insurance rates by as much as thirty percent. Careful drivers have lower premiums than bad drivers. Drivers who get serious violations such as reckless driving, hit and run or driving under the influence may be required to submit a SR-22 or proof of financial responsibility with the DMV in their state in order to continue driving.

The coverage is in the details

Having a good grasp of your policy can be of help when determining which coverages you need and proper limits and deductibles. The terms used in a policy can be impossible to understand and coverage can change by endorsement.

Liability coverages

This coverage protects you from injuries or damage you cause to people or other property. This insurance protects YOU against claims from other people. It does not cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 50/100/50 which stand for $50,000 bodily injury coverage, $100,000 for the entire accident, and $50,000 of coverage for damaged propery.

Liability can pay for claims such as medical expenses, structural damage and medical services. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

Coverage for uninsured or underinsured drivers

Uninsured or Underinsured Motorist coverage provides protection from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Comprehensive car insurance

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for things like damage from getting keyed, theft, a broken windshield, falling objects and hitting a bird. The maximum payout your car insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Auto collision coverage

This coverage pays for damage to your Model S resulting from a collision with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things like colliding with a tree, crashing into a ditch, sustaining damage from a pot hole and scraping a guard rail. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.

Coverage for medical expenses

Med pay and PIP coverage kick in for bills like chiropractic care, dental work, prosthetic devices, ambulance fees and rehabilitation expenses. They are used to fill the gap from your health insurance policy or if you are not covered by health insurance. They cover both the driver and occupants as well as if you are hit as a while walking down the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Better coverage you can count on

Consumers switch companies for many reasons like policy cancellation, denial of a claim, not issuing a premium refund or high prices. Regardless of your reason, switching car insurance companies is actually quite simple.

Affordable 2014 Tesla Model S insurance can be purchased online as well as from independent agents, and you need to price shop both in order to have the best chance of saving money. Some insurance companies don’t offer online price quotes and these smaller companies work with independent agents.

We covered quite a bit of information on how to save on insurance. The key concept to understand is the more rate quotes you have, the more likely it is that you will get a better rate. Drivers may discover the best price on car insurance is with a lesser-known regional company.

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