View 2012 Tesla Model S Insurance Rates

Trying to find better insurance coverage rates for your Tesla Model S? Shopping for cheap insurance coverage on the web can seem to be rather difficult for consumers that are relatively new to price shopping on the web. With so many agents and insurers available, how are consumers expected to have a chance to compare the different rates to find better rates?

Finding auto insurance

Comparing auto insurance rates can be a daunting task if you don’t know the easiest way. You can waste a lot of time talking to local insurance agents in your area, or you could save time and use the web to get prices fast.

Many companies participate in a marketplace that enables customers to only type in their quote data once, and every company can give them a price. This prevents consumers from doing repetitive form submissions for every auto insurance company.

To find out how much you’re overpaying now click here to open in new window.

One minor caviat to using this type of system is you don’t know exactly which carriers you want pricing from. So if you prefer to pick from a list of companies to compare, we have assembled a list of auto insurance companies in your area. View list of insurance companies.

However you get your quotes, be certain you are entering exactly the same coverage limits and deductibles for each price quote. If you use different coverage information it’s not possible to make a fair comparison for your Tesla Model S. Slightly different coverage limits may result in large price differences. It’s important to know that making a lot of price comparisons gives you a better chance of getting a better price.

The largest companies are not always cheapest

Popular insurance providers such as Geico, State Farm and Progressive endlessly run ads in print and on television. They all make the same claim of big savings just by switching your insurance policy to them. It sounds good, but how can they all make the same claim? You have to listen carefully.

All companies look for specific characteristics for the type of customer that earns them a profit. An example of a profitable insured might have to be a mature driver, has had continuous coverage, and drives newer vehicles. A driver who fits those characteristics gets the lowest car insurance rates and is almost guaranteed to save quite a bit of money when switching.

Potential customers who do not fit these standards will get a higher premium and this results in the customer buying from someone else. Company advertisements say “customers who switch” not “everybody who quotes” will save that much if they switch. This is how companies can state the savings. Different companies use different criteria so drivers must quote coverage with many companies. Because you never know which insurance companies will provide the lowest premium rates.

Find hidden discounts on auto insurance

Auto insurance can be pricey, but you may find discounts that you may not know about. Certain discounts will be applied when you complete an application, but some discounts are required to be specially asked for before being credited. If you do not check that you are getting every discount possible, you may be paying too high a price.

• Paperwork-free – A few larger companies provide a small discount just for signing your application on the web.
• Braking Control Discount – Cars, trucks, and SUVs equipped with ABS or steering control are much safer to drive so companies give up to a 10% discount.
• Anti-theft Discount – Vehicles that have factory alarm systems and tracking devices can help prevent theft and that can save you a little bit as well.
• College Student – Kids who live away from home at college and do not take a car to college may qualify for this discount.
• Low Mileage – Fewer annual miles on your Tesla can earn lower premium rates on the low mileage vehicles.
• Good Drivers – Accident-free drivers may receive a discount up to 45% for Model S coverage compared to rates paid by drivers with frequent claims.
• Save with More Vehicles Insured – Purchasing coverage when you have multiple cars or trucks on one policy can get a discount for every vehicle.
• Safety Restraint Discount – Drivers who require all occupants to fasten their seat belts could save 15% off PIP or medical payments premium.
• No Claim Discounts – Insureds who avoid accidents and claims can save substantially in comparison with policyholders that have many claims.

As a footnote on discounts, most discount credits are not given to the entire cost. Most only cut specific coverage prices like comprehensive or collision. Just because it seems like having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.

Larger auto insurance companies and some of their more popular discounts can be read below.

• Geico includes discounts for daytime running lights, multi-vehicle, driver training, seat belt use, anti-lock brakes, anti-theft, and air bags.
• Mercury Insurance offers discounts including good student, low natural disaster claims, good driver, annual mileage, location of vehicle, age of vehicle, and professional/association.
• Farmers Insurance has savings for alternative fuel, pay in full, electronic funds transfer, good student, and youthful driver.
• Auto-Owners Insurance offers premium reductions for air bags, company car, multiple vehicles, safe vehicle, and anti-theft.
• Liberty Mutual may offer discounts for multi-policy, new graduate, teen driver discount, hybrid vehicle, multi-car, new vehicle discount, and exclusive group savings.
• SAFECO discounts include teen safe driver, multi-car, bundle discounts, anti-theft, teen safety rewards, and drive less.
• Progressive may have discounts that include continuous coverage, online signing, good student, multi-vehicle, multi-policy, homeowner, and online quote discount.
• USAA policyholders can earn discounts including good student, annual mileage, new vehicle, driver training, family discount, military installation, and defensive driver.

Before buying, ask all the companies how you can save money. Some of the discounts discussed earlier may not apply to policyholders everywhere. To find providers with the best auto insurance discounts, follow this link.

Tailor your insurance coverage to you

When buying the right insurance coverage, there is no single plan that fits everyone. Each situation is unique.

Here are some questions about coverages that could help you determine if you would benefit from professional advice.

• Are rental cars covered under my policy?
• What if I total my 2012 Tesla Model S and owe more than it’s worth?
• Do I have coverage when using my vehicle for my home business?
• Does my personal policy cover me when driving out-of-state?
• Is my dog or cat covered if injured in an accident?
• Do I have coverage when pulling a U-Haul trailer?
• What discounts do I qualify for?
• What can I do if my company won’t pay a claim?

If you can’t answer these questions but a few of them apply, you may need to chat with a licensed insurance agent. If you don’t have a local agent, fill out this quick form.

Specifics of your insurance policy

Having a good grasp of a insurance policy aids in choosing the right coverages and the correct deductibles and limits. Policy terminology can be difficult to understand and nobody wants to actually read their policy.

Liability auto insurance

This protects you from damages or injuries you inflict on people or other property in an accident. It protects you against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 25/50/25 which means a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000.

Liability can pay for things like emergency aid, court costs, medical services, attorney fees and structural damage. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as large an amount as possible.

Uninsured/Underinsured Motorist coverage

This gives you protection when the “other guys” are uninsured or don’t have enough coverage. It can pay for injuries to you and your family as well as damage to your Tesla Model S.

Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important.

Comprehensive coverage

Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like hail damage, damage from a tornado or hurricane and hitting a bird. The maximum amount your insurance company will pay is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Collision protection

This coverage covers damage to your Model S caused by collision with another vehicle or an object, but not an animal. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for things such as hitting a parking meter, sustaining damage from a pot hole, colliding with another moving vehicle and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. Another option is to raise the deductible to get cheaper collision coverage.

Medical payments coverage and PIP

Med pay and PIP coverage pay for expenses like prosthetic devices, hospital visits, X-ray expenses, funeral costs and nursing services. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Save your cold hard cash

People switch companies for a number of reasons such as delays in responding to claim requests, policy non-renewal, high prices and not issuing a premium refund. It doesn’t matter why you want to switch choosing a new insurance company is easier than you think.

Throughout this article, we presented a lot of techniques to shop for 2012 Tesla Model S insurance online. It’s most important to understand that the more companies you get premium rates for, the higher the chance of saving money. Consumers may even find the lowest car insurance rates are with a company that doesn’t do a lot of advertising.

Cheaper 2012 Tesla Model S insurance can be sourced both online as well as from independent agents, so you need to quote insurance with both to get a complete price analysis. Some insurance companies do not offer online rate quotes and most of the time these regional carriers work with local independent agencies.

More resources

• Crash Avoidance Technologies FAQ (iihs.org)
• How to Avoid Staged Accidents (State Farm)
• How Does Hitting a Deer Impact Insurance Rates? (Allstate)
• Safety Tips for Teen Drivers (Insurance Information Insitute)