Save on 2018 Tesla Model S Car Insurance Quotes

Trying to find cheaper car insurance rates for your Tesla Model S? Searching for cheaper insurance for a Tesla Model S can be a lot of work, but you can learn these tips to make it easier. There are both good and bad ways to buy car insurance so we’re going to tell you the best way to quote coverages for a Tesla and get the lowest possible price either online or from local insurance agents.

Shop car insurance online

Getting low cost 2018 Tesla Model S car insurance pricing can be relatively painless. The only requirement is to take time comparing price quotes to find the company with inexpensive car insurance quotes. Rate comparisons can be done in several different ways.

If you are pressed for time, the simplest way to get the best comparison quotes is an all-inclusive rate comparison like this one (opens in new window). This form saves time by eliminating separate quotation requests for every car insurance company. Just one form will return price quotes from all major companies.It’s the quickest way to get rates.

A different way to get comparison quotes is to take the time to go to each individual company website and repeat the quote process again and again. For example, let’s say you want rates from Liberty Mutual, Progressive and Allstate. In order to compare rates, you need to spend time going to each site individually and punch in your information repeatedly, and that’s why the first method is more popular.

To view a list of companies in your area, click here.

If you have time to kill, the last method to comparison shop rate quotes to local insurance agencies. Quoting and buying insurance online has made agencies unnecessary unless you want the professional assistance of a local agent. Although, it is possible comparison shop your insurance online but have your policy serviced through an agent.

It’s up to you how you get prices quotes, just do your best to enter identical information on every price quote you get. If you use different deductibles it will be impossible to determine which company has the best rates.

Advertising and insurance coverage

Drivers can’t ignore all the ads that claim the cheapest rates by companies like State Farm, Allstate and Geico. All the ads make the same claim that people will save if you change your coverage to them.

Is it even possible that every company can give you a lower rate?

Most companies have underwriting criteria for the type of customer that will not have excessive claims. An example of this type of insured could be between the ages of 30 and 45, has never had a claim, and drives a safe vehicle. Anybody who meets those qualifications will get the preferred prices and will save quite a bit of money when switching.

Consumers who don’t qualify for those criteria may receive higher prices and ends up with the customer not purchasing. If you listen to the ad wording, they say “drivers that switch” not “all people who quote” save that much. This is how insurance companies can confidently advertise the way they do. Because of this risk profiling, you should compare many company’s car insurance rates. It’s just not possible to know which company will give you the biggest savings.

Insurance cost influencing factors

Cost of auto insurance
Cost of
Auto Insurance
Image by

A large part of saving on car insurance is knowing some of the things that go into determining the level of your policy premiums. If you have a feel for what influences your rates, this allows you to make educated decisions that could help you find lower premium levels. Lots of things are used in the calculation when you quote your car insurance policy. Some factors are common sense such as your driving record, although others are more obscure like your continuous coverage or your vehicle rating.

The following are some of the things that factor into your rate level.

  • Are you male or female? – Statistics show that females tend to be a little less risky than males. The data does not necessarily mean that males are worse at driving than females. Both sexes have accidents in similar numbers, but males get into accidents with more damage. Not only are claims higher, but men receive more costly citations such as reckless driving.
  • Poor credit decisions can cost you – A driver’s credit rating can be an important factor in determining your rates. Drivers who have good credit tend to be more responsible than drivers who have worse credit. If your credit score is lower than you’d like, you could potentially save money when insuring your 2018 Tesla Model S if you clean up your credit.
  • Advanced GPS tracking and theft deterrents – Choosing a vehicle with a theft deterrent system can help bring down rates. Anti-theft features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help stop car theft and help bring rates down.
  • Where do you drive? – The higher the mileage driven in a year’s time the more you’ll pay to insure your vehicle. A lot of companies calculate rates based on how the vehicle is used. Cars and trucks left parked in the garage receive lower rates than those that get driven frequently. Incorrect rating for your Model S can result in significantly higher rates. It’s a good idea to make sure your car insurance policy correctly shows the right rating data.
  • Job stress can make you pay more – Did you know your car insurance rates can be affected by your occupation? Occupations like military generalsair traffic controllers and medical professionals have higher rates than the rest of us in part from job stress and lots of time spent at work. On the other hand, occupations such as professors, students and the unemployed pay lower than average rates on Model S insurance.
  • Insurance companies don’t like frequent insurance claims – Auto insurance companies give the best rates to people who are claim-free. If you file claims often, you can pretty much guarantee higher premiums or even policy non-renewal. Insurance coverage is meant to be used in the event of more catestrophic claims.
  • Premiums drop with age – Drivers with little experience have a tendency to be inattentive and easily distracted when driving and because of this, their car insurance rates are much higher. Parents adding a inexperienced driver to your policy can really hurt. Mature drivers are more cautious drivers, tend to file fewer claims .
  • Don’t let your coverage lapse – Allowing your car insurance policy to lapse is a fast way to increase your rates. And not only will insurance be more expensive, being ticketed for driving with no insurance may result in a license revocation or jail time.

Verify you’re earning every discount

Insurance is not inexpensive, but you might find some hidden discounts that you may not even know about. Larger premium reductions will be automatically applied at the time of purchase, but some may not be applied and must be manually applied in order for you to get them. If they aren’t giving you every credit available, you’re paying more than you need to.

  • New Car Discount – Buying a new car model can save up to 30% because new vehicles have to meet stringent safety requirements.
  • No Charge for an Accident – Not really a discount, but a few companies such as Geico, Allstate and Liberty Mutual may permit one accident before your rates go up with the catch being you have to be claim-free for a set time period.
  • Employee of Federal Government – Having worked for a branch of the government could qualify for a slight premium decrease on Model S insurance with a few insurance companies.
  • Multi-line Discount – Some companies give a small discount if you purchase auto and life insurance together.
  • Bundle and Save – If you can combine your homeowners and auto policy and insure them both with the same insurance company you will save approximately 10% to 15%.
  • Active Military Service – Being deployed in the military may lower your insurance rates slightly.
  • Drive Less and Save – Maintaining low annual mileage could be rewarded with cheaper premium rates.
  • Early Switch Discount – A few companies give discounts for signing up before your current coverage expires. This discount can save up to 10%.
  • Seat Belts Save – Using a seat belt and requiring all passengers to use their safety belts could cut 10% or more off the medical payments premium.

One last thing about discounts, most of the big mark downs will not be given to your bottom line cost. Most only cut the cost of specific coverages such as comp or med pay. Even though it may seem like all those discounts means the company will pay you, it’s just not the way it works.

To find insurers that provide some of the discounts listed above, click here to view.

When should I discuss my situation with an agent?

When choosing the best auto insurance coverage for your vehicles, there really is not a single plan that fits everyone. Everyone’s situation is unique.

These are some specific questions might help in determining whether you may require specific advice.

  • Why am I required to buy liability insurance?
  • How high should my uninsured/underinsured coverage be in my state?
  • Is my teenager covered with friends in the car?
  • Does my policy pay for OEM or aftermarket parts?
  • Am I covered if I break a side mirror?
  • Why does it cost so much to insure a teen driver?
  • Can I afford to pay high deductible claims out of pocket?
  • Is my 2018 Tesla Model S covered for smoke damage?

If you can’t answer these questions but a few of them apply then you might want to talk to a licensed agent. If you want to speak to an agent in your area, simply complete this short form. It’s fast, doesn’t cost anything and can help protect your family.

Car insurance coverage information

Learning about specific coverages of car insurance aids in choosing which coverages you need and the correct deductibles and limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording.

Comprehensive auto coverage

Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things like hitting a bird, rock chips in glass, hitting a deer and falling objects. The most you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

Collision coverage protection

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

Collision coverage pays for things like damaging your car on a curb, sustaining damage from a pot hole, crashing into a ditch and crashing into a building. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to bring the cost down.

Medical payments and PIP coverage

Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses such as surgery, dental work, X-ray expenses and doctor visits. They are used in conjunction with a health insurance program or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants as well as getting struck while a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage

Liability coverages

This coverage provides protection from damage or injury you incur to other’s property or people by causing an accident. This insurance protects YOU from claims by other people, and does not provide coverage for your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 100/300/100 which stand for $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property.

Liability coverage protects against claims like bail bonds, funeral expenses, medical services, emergency aid and legal defense fees. How much coverage you buy is up to you, but buy higher limits if possible.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This provides protection when other motorists either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries and damage to your Tesla Model S.

Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea.

At the end of the day…

In this article, we presented a lot of tips how to reduce 2018 Tesla Model S insurance auto insurance rates online. It’s most important to understand that the more rate comparisons you have, the better chance you’ll have of finding affordable car insurance. You may even discover the lowest priced car insurance comes from a lesser-known regional company.

When buying insurance coverage, don’t be tempted to reduce coverage to reduce premium. Too many times, someone dropped physical damage coverage only to regret that the small savings ended up costing them much more. Your aim should be to find the BEST coverage at the best cost while not skimping on critical coverages.

Insureds change insurance companies for a number of reasons such as poor customer service, policy non-renewal, questionable increases in premium or even delays in responding to claim requests. Whatever your reason, finding the right car insurance provider is pretty simple and you could end up saving a buck or two.

To learn more, link through to these articles: