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Insurance Quote

Has anyone had a firm quote from their car insurance company about the cost of insuring a Model S?

I just got a quote from State Farm for $537/6 months. We get multicar + home discounts.

I wash shocked to see it listed on Progressive ....

Quoted $388/6months here in S. Fl ... and that is reasonably shocking.

We'll see what changes by the time it arrives.

I was told by USAA that to expect it to be similar to a comparable priced car such as a BMW or similar. I did this research before the June 22, deliveries. Now that's out, we should be able to get better quotes.


I pay a bit less than $500/6 months for two Prius from Progressive, so I'm not surprised at the price. Progressive bases the cost more on your credit rating (and driving record) than they do on the vehicle price.

State Farm quoted me $430/6 months in Ohio with home and multicar discounts. I currently pay 200 on an 11 yr old Bonneville.

I'm paying $389 for a 2008 Prius and received a quote of $640 from Progressive. I live in AZ and have been with Progressive for 6 years. Looks like I may want to shop around...

Checked with my Pemco agent a few days ago and after he did some checking he came back with a ball-park figure of about $700/yr...about the same that I am paying now for a 2010 Ford Fusion Hybrid. I suspect that the quote will be higher if/when I get a Model S.

I just called my insurance provider Peerless and they will not insure as it is a "limited run" production car. What's up with that? I guess they'll be losing all of my auto & homeowners insurance to someone else.


Perhaps they were confused and thought you were referring to a roadster?

I got a quote of 98/month for a Signature Model S.

I asked Erie Insurance, they could not find it in there system. They kept asking for a VIN. After a while, my local agent worked up a number, $800.00 a year based on the MSRP.

I posted on TeslaMptors Club that I was quoted by Amica a cost of $1800/year for 500K of liability. People told me that was high and I should shop around. I spoke to USAA todasy, and they quoted me higher rates than Amica for my current autos. Further, when I asked for a quote for the Model S, I was told that it would be $2600 plus some change for 1 year (USAA quotes 6 months terms, so need to double their quote. So it seems Amica is not high. For reference, I live just outside of DC, two drivers, no tickets, and the total premium for my 3 current cars are only slightly higher than the cost of the Tesla alone.
My son takes his driving test in August. Assuming he gets a license, the cost for insuring the Tesla will be an additional $2600 (above the above noted quote), eventhough he will not drive the car. I was told that in Maryland, he needs to be listed for every car, regardless of whether or not he actually drives the car.

Steve, I'm in MD too, (20878) and have a quote from Geico for ~800/yr but I am in their top tier. I'm not sure where you are but it sounds a little high.

You can exclude you son from your cars(though some insurances may not follow this) but he may need his own car, with his own insurance on it to be excluded while living in your house.

Good luck!


When did you call Geico? I checked with them about 2 weeks ago and they said they could not quote it.

@Steve: ouch!

Introducing -- Tesla Insurance (for BEVs only)! Starting when they get around to it, probably about 2014. ;)

I imagine insurers will keep rates high for some time till owners get over doing the "Tesla Hop" (slow to a crawl and let a big space develop, then goose it till they can see the whites of the driver ahead's eyes in his own rearview, then let off completely, repeat, repeat ...).



About a month ago, they did note that they probably wouldn't insure the car in other tiers; I've had my insurance with them for over a decade, and a perfectly clean record.


Has anyone every done a Surety Bond? (if I have that right) Some states do not require insurance if you can prove you can pay for an accident. I've just started to look into it myself. Don't even know if MO allows it.

The high cost is one thing foe a 100K car but if you get a speeding ticket >30mi over the limit, your ins can go up 20% or more (and stay up for years). Ouch!

Traffic School!!

Since I got my VIN on Sept 10th, I sent my MVPA and VIN to State Farm. Now the quote is $530 every six months. That includes my multiline and accident free discounts and a rental loss of use rider for $25 that I will get rid of when my car arrives. I asked why it went up from previous quote (posted July 17). They said the purchase price went up. Assuming they used an ~80k number instead of actual 100k. Still not bad. This is in Ohio.

Try Liberty Mutual. I bought a year at $420, including zero deductible comp and additional liability coverage.

@HaroldS - was that a regular commute policy or a 'weekender'? When you say you 'bought' you mean you currently insure a Model S through Liberty for $420 a year?

I stopped by the local AAA office (SF bay area) and requested a quote for my Sig Performance Model S. I brought in my Tesla quote showing the new purchase value of the car.

AAA did not have Tesla in their system. The person helping me with the quote knows about Tesla and the Model S, so she was able to get me a quote using their system - she reiterated that it's just an estimate. She quoted about $1600 for the year based on very good driving record and having been with AAA for many years and 16K miles of driving per year. She said it was high due to the value of the car.

I know AAA is not the cheapest insurance around, but my wife feels the service we get from AAA (when we need it) is the best. So, I'm ok paying the higher rates that AAA charges - for that peace of mind.

Also, keep in mind that the SF Bay Area has one of the highest insurance rates in the country - perhaps NYC, Chicago, and LA would be a bit higher.

She did mention that picking up the Tesla, I will be automatically covered due to my current "full coverage" that I have from AAA. Once I pick up the car, I need to bring it into the office to officially add it to my policy.

Bring it into the office. Wink. Wink. She just wants a ride! ;D

@Teoatawki....I was thinking the same thing when she mentioned it. In theory, they don't really need to see the car - they didn't ask about my Prius 5 years ago.

The high rates just mean there are lots of crashers with great opportunities to exercise their talent in SF!

Darn bad drivers in the Bay Area! But at least I will be protected by the 5 star safety rating!

Yeah. But until production hits stride, you'll have to wait 8-12 months for a replacement if your car is totalled!

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