Tesla launched its own insurance program, but many drivers are sharing mixed experiences. Some say it’s affordable, while others claim the claims process is slow and frustrating. What has been your experience with Tesla Insurance?
This might need its own post, but does any EV have noticeably lower insurance costs? Are there models that stand out?
Adler said:
This might need its own post, but does any EV have noticeably lower insurance costs? Are there models that stand out?
I recently got quotes for a variety of EVs. Tesla Model Y was the highest at about $3000/year. Kia Niro was also pricey and tough to get a quote, probably due to theft issues. VW ID4 and Hyundai Ioniq 5 and 6 ranged between $1250 and $1500/year. Chevy Bolt and Nissan Leaf were both under $1000/year. For comparison, my ICE vehicles are $700/year for a truck and $380/year for a small SUV. All quotes were for $500 deductibles.
@Shay
I only pay $1200/year for my Model Y. No way I’d pay $3000.
Blake said:
@Shay
I only pay $1200/year for my Model Y. No way I’d pay $3000.
If I got that rate, I’d be driving a Model Y already. All my quotes were around $3000, so maybe Tesla accidents are more common in my area.
Blake said:
@Shay
I only pay $1200/year for my Model Y. No way I’d pay $3000.
Which insurance company are you using, and what’s the coverage like? I’m shopping around and would love to pay that much.
@Corey
We use Allstate. It’s been good for us even though my partner has an at-fault accident on their record. We max out our liability and have full coverage.
Adler said:
This might need its own post, but does any EV have noticeably lower insurance costs? Are there models that stand out?
My Kona is surprisingly affordable. My previous car, a 2002 Toyota Avalon, cost more to insure despite having no comprehensive coverage. The Kona shares parts with gas models, making repairs simpler and cheaper compared to Tesla’s specialized parts and repair centers. Tesla repairs can be a nightmare.
Blake said:
@Corey
We use Allstate. It’s been good for us even though my partner has an at-fault accident on their record. We max out our liability and have full coverage.
Honestly, the best option is using an insurance broker. They’ll shop around for you and find the best rates. They’re free because they get paid by the insurance companies.
Adler said:
This might need its own post, but does any EV have noticeably lower insurance costs? Are there models that stand out?
I switched from a Tesla Model 3 to a Genesis GV60, which is more expensive, but my insurance actually went down. I’m using Wawanesa Insurance.
@Tully
Tesla does make their service manuals freely available online. I used one to replace the charge door port on my 2017 Model 3. The part cost me about $100, and I handled it myself.
Clarke said:
@Tully
Tesla does make their service manuals freely available online. I used one to replace the charge door port on my 2017 Model 3. The part cost me about $100, and I handled it myself.
Most drivers don’t even know basic car maintenance, so while the manuals are nice, they’re not helpful for the average person. Tesla repairs still end up being a hassle for most.
Adler said:
This might need its own post, but does any EV have noticeably lower insurance costs? Are there models that stand out?
Chevy Bolt and Nissan Leaf seem to have lower insurance costs. My Model 3 SR+ was only about $20 more annually than my 2017 Honda Civic.
Jo said:
Auto insurance is always a pain, but Tesla seems to have some unique issues. It’s hard to imagine something worse than Allstate, though.
I had issues with AAA once because they had the wrong VIN on my policy. When I switched to Allstate, I was pleasantly surprised by their helpfulness. It really comes down to the agent you work with.
Tesla Insurance claims to offer better service, but many customers report issues. One driver shared that after an accident involving Autopilot, they waited months for their claim to be resolved. Tesla’s lack of support made the situation worse.
@Giovanni
Not surprising. Tesla is notorious for prioritizing profits over customers.
I switched from Geico to Tesla Insurance for my Model 3. Tesla was cheaper, and Geico’s rates kept increasing. So far, I’ve had no issues with Tesla.
I haven’t needed to file a claim yet, but Tesla Insurance costs me less than half of what others quoted. Saving money outweighs the potential hassle of a claim for me.
I wouldn’t trust Tesla’s insurance. Their reputation for after-sales support isn’t great, and I don’t see how their insurance would be any different.
I pay $80 a month for my Model Y through Tesla Insurance. So far, no issues.