2017 Tesla Model S Car Insurance Rates – 5 Tips for Cheaper Quotes

Looking for better insurance coverage rates for your Tesla Model S? Expensive Tesla Model S insurance can deplete your savings account and require stricter spending habits. Getting a rate comparison is a smart way to lower your monthly bill.

Since you have so many different company options, it can be diffult for people to pick the most affordable insurance company.

Insurance companies offer many types of discounts

Some insurers don’t list all possible discounts very well, so we took the time to find some of the best known and the more hidden discounts that you can inquire about if you buy car insurance online.

  • Government Employees – Active or retired federal employment can save as much as 8% on Model S insurance depending on your company.
  • Fewer Miles Equal More Savings – Driving less could be rewarded with slightly better rates than normal.
  • Drivers Education – Require your teen driver to enroll in driver’s education if offered at their school.
  • Senior Discount – Older drivers can get reduced rates on Model S insurance.
  • Telematics Discount – Drivers who agree to allow their insurance company to track driving patterns by using a small device installed in their vehicle such as Allstate’s Drivewise and State Farm’s In-Drive system may see discounts if they exhibit good driving behavior.

Just know that some credits don’t apply to your bottom line cost. The majority will only reduce individual premiums such as comprehensive or collision. Despite the appearance that having all the discounts means you get insurance for free, you aren’t that lucky. Any amount of discount will cut your policy premium.

A few of the larger companies and a partial list of their discounts are shown below.

  • Geico may include discounts for anti-theft, multi-policy, federal employee, five-year accident-free, and defensive driver.
  • SAFECO may have discounts that include anti-lock brakes, teen safety rewards, accident prevention training, anti-theft, and drive less.
  • State Farm policyholders can earn discounts including anti-theft, Steer Clear safe driver discount, driver’s education, safe vehicle, and multiple policy.
  • MetLife has savings for accident-free, good student, claim-free, defensive driver, and multi-policy.
  • 21st Century discounts include student driver, driver training, automatic seat belts, early bird, defensive driver, good student, and homeowners.
  • Progressive offers discounts including continuous coverage, online quote discount, good student, homeowner, multi-policy, online signing, and multi-vehicle.

Before purchasing a policy, check with every insurance company which credits you are entitled to. Some of the earlier mentioned discounts might not be offered on policies in your area.

The best way we recommend to compare rate quotes takes advantage of the fact most larger insurance companies actually pay money for the chance to quote your coverage. All consumers are required to do is provide a little information such as whether you are married, any included safety features, whether you have decent credit, and how you use your vehicles. The rating information is instantly sent to many of the top insurers and you get price estimates immediately.

Do I just need basic coverages?

When buying the right insurance coverage, there is no single plan that fits everyone. Every insured’s situation is different so your insurance should reflect that For instance, these questions might help in determining whether your personal situation could use an agent’s help.

  • How do I insure my teen driver?
  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Am I covered if my car is in a flood?
  • Do all my vehicles need collision coverage?
  • Do I have coverage if my license is suspended?
  • What can I do if my company won’t pay a claim?
  • When would I need additional glass coverage?
  • Am I covered if I crash into my own garage door?
  • Do I need replacement cost coverage?
  • Am I covered by my spouse’s policy after a separation?

If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to an agent. If you don’t have a local agent, fill out this quick form or click here for a list of insurance coverage companies in your area.

Car insurance coverage options for a Tesla Model S

Understanding the coverages of your policy helps when choosing the best coverages and proper limits and deductibles. Car insurance terms can be ambiguous and even agents have difficulty translating policy wording. Listed below are the usual coverages found on most car insurance policies.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses such as rehabilitation expenses, ambulance fees, funeral costs and doctor visits. They are often used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers all vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is not universally available and may carry a deductible

Collision coverage protection

This pays for damage to your Model S from colliding with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision can pay for claims like driving through your garage door, hitting a mailbox and colliding with another moving vehicle. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to increase the deductible to bring the cost down.

UM/UIM Coverage

Your UM/UIM coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants as well as damage to your Tesla Model S.

Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea.

Liability coverages

This will cover injuries or damage you cause to other’s property or people that is your fault. It protects you from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 100/300/100 which stand for a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery.

Liability coverage pays for things such as bail bonds, structural damage and repair bills for other people’s vehicles. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as high a limit as you can afford.

Comprehensive or Other Than Collision

This covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things such as a broken windshield, fire damage and a tree branch falling on your vehicle. The highest amount you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

What is YOUR best insurance company?

Affordable 2017 Tesla Model S insurance is definitely available online as well as from independent agents, and you should compare rates from both to have the best chance of lowering rates. Some auto insurance companies do not offer price quotes online and usually these smaller companies work with local independent agencies.

In this article, we covered a lot of tips how to save on 2017 Tesla Model S insurance. The key concept to understand is the more you quote car insurance, the higher the chance of saving money. You may even find the lowest prices come from the least-expected company. Smaller companies can often provide lower rates in certain areas than the large multi-state companies such as Progressive or Geico.

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