I live in southern California and my Tesla insurance premium is so high. Does anyone else have the same experience? Other companies are offering even worse rates. This is for a 2023 Model Y Performance.
Remember that insurance costs depend on specific factors like location, driving record, and coverage choices. Let’s avoid judgment without details from the person who posted this.
Pat said:
Remember that insurance costs depend on specific factors like location, driving record, and coverage choices. Let’s avoid judgment without details from the person who posted this.
Insurance is such a pain sometimes. What are your rates like?
I pay $1264.44 for 6 months, which is around $210 monthly. I live in Los Angeles, have a clean driving record, and have been driving for years. Your age, zip code, or coverage might be affecting your premium. My car is a 2022 Model 3 Performance.
@Levi
I have Allstate and pay $100 a month for better coverage than Tesla’s insurance offered. Clean record here too.
Oli said:
@Levi
I have Allstate and pay $100 a month for better coverage than Tesla’s insurance offered. Clean record here too.
Same here. We pay less than $1,000 for 6 months with Allstate. Two drivers and two Teslas—a 2020 Model 3 and a 2022 Model Y.
@Ira
That seems high to me. I pay $848 for 6 months with Tesla insurance in Los Angeles. My coverage includes 100k/300k limits with a $500 deductible. You might want to get a quote from them.
Ren said:
@Ira
That seems high to me. I pay $848 for 6 months with Tesla insurance in Los Angeles. My coverage includes 100k/300k limits with a $500 deductible. You might want to get a quote from them.
That’s for two cars though, right?
@Jai
Yeah, my bad. I missed that detail. Thanks for pointing it out.
@Ira
Must be nice to live in a cheaper state. Insurance is painful here.
Oli said:
@Levi
I have Allstate and pay $100 a month for better coverage than Tesla’s insurance offered. Clean record here too.
Are you in Los Angeles? Rates vary a lot based on location. I had Allstate for years, but they wanted double what Tesla insurance quoted when I bought my first Tesla. Insuring in a big city like LA is always costly, no matter the provider.
The limits you mentioned seem low. Is that normal in the US?
Sawyer said:
The limits you mentioned seem low. Is that normal in the US?
Here in Germany, the minimum coverage is much higher—7.5 million euros for injuries and 1.22 million euros for property damage. Most policies go beyond these minimums.
@Franklin
Minimums in the US vary by state. I was hit by someone with only $35k in coverage, and it barely covered anything. My own insurance had to step in to cover $500k in medical bills.
@Franklin
In Florida, the minimum is just $10k for injuries and $20k for property damage. It’s ridiculously low.
I insure my Model 3 through StateFarm with rideshare coverage for $200 a month. Erie wanted $330 for the same coverage.
You should have at least 100/300/100 coverage. Medical bills alone can make lower limits a nightmare if you’re in an accident.
Payne said:
You should have at least 100/300/100 coverage. Medical bills alone can make lower limits a nightmare if you’re in an accident.
An umbrella policy can also help. It’s usually affordable and adds extra coverage on top of your limits.
I pay about $100 a month here in Dallas with Tesla insurance. It’s based on my safety score.
California rates are crazy. I’m in NorCal, and my premium jumped from $105 to $160 a month. I have a clean record and a 2021 Model 3 Long Range.