I’m exploring Tesla Insurance for my new Model X but the premium is a significant increase from what I’m paying for my 2018 Honda at $883 annually with Geico. Should I shop around, or is this increase typical across providers for Teslas?
Shop around. Tesla Insurance isn’t always the best option. Progressive and Costco Connect are worth looking into.
Ellis said:
Shop around. Tesla Insurance isn’t always the best option. Progressive and Costco Connect are worth looking into.
I started with Tesla Insurance but switched after they increased my rate by lowering my safety score artificially. Switching saved me a lot.
Why not shop around? It only takes a few hours and could save you thousands over time.
Remy said:
Why not shop around? It only takes a few hours and could save you thousands over time.
I plan to, but I’m looking for recommendations on which companies are worth my time. Any specific suggestions?
@Yan
Try Progressive. They’ve been competitive for Tesla owners compared to Geico.
Do NOT stick with Geico for Tesla. They tend to have higher rates for EVs. Progressive or Tesla Insurance might be better, depending on your state.
I had a similar experience switching to Tesla Insurance. It was cheaper than Geico for me. Definitely worth a look if it’s available in your area.
Check Costco Insurance if you’re a member. They saved me a lot compared to Geico and Progressive.
Wren said:
Check Costco Insurance if you’re a member. They saved me a lot compared to Geico and Progressive.
Costco has great rates, especially if you bundle with other policies.
This gets asked a lot. Geico’s rates for Teslas are generally high. Check Progressive, State Farm, or Tesla Insurance, depending on your location.
I was with Geico for 20 years, but their Tesla rates were way too high. Switching to Tesla Insurance saved me a lot.
Look for insurance companies without flashy ads or jingles—they often have better rates because they don’t overspend on marketing.
I’d avoid Tesla Insurance. Their claims process is notoriously difficult, and they monitor your driving habits.
Tesla Insurance was much cheaper for me. I drive about 15,000 miles a year, and their rates were still competitive compared to others.