How Much Does 2012 Tesla Model S Insurance Cost?

Want the cheapest insurance coverage rates for your Tesla Model S? Price shopping your insurance coverage might be challenging for drivers who are beginners to online comparison shopping. With such a large number of companies, it can easily turn into hard work to find cheaper rates.

If you currently have a car insurance policy, you should be able to cut costs considerably using these techniques. This information will introduce you to the most effective way to quote insurance. But vehicle owners benefit from understanding the way companies market insurance on the web and use this information to your advantage.

The best way we recommend to compare car insurance rates is to understand car insurance companies pay for the opportunity to quote your coverage. To get started, all you need to do is give the companies some data including which vehicles you own, if you have an active license, marital status, and your credit rating estimate. Your rating data is submitted instantly to many of the top insurers and they respond with quotes quickly.

To compare rates now, click here and complete the quick form.

Insurance Discounts

Insurance is not cheap nor is it fun to buy but companies offer discounts that you may not even know about. Some of these disounts will be visible when you quote, but some need to be asked about prior to getting the savings. If you check and find you aren’t receiving every discount available, you’re paying more than you need to.

  • Multiple Vehicles – Buying a policy with multiple cars or trucks on the same insurance policy could earn a price break for each car.
  • Drive Safe and Save – Drivers who avoid accidents can get discounts for up to 45% lower rates on Model S insurance than their less cautious counterparts.
  • Government Employee Discount – Federal government employees could cut as much as 10% off on Model S insurance with some insurance companies.
  • Defensive Driving Course – Passing a defensive driver course could cut 5% off your bill depending on where you live.
  • Seat Belt Discounts – Buckling up and requiring all passengers to use their safety belts may be able to save a few bucks off the PIP or medical payment premium.

A little disclaimer on discounts, most of the big mark downs will not be given to all coverage premiums. Most only cut individual premiums such as collision or personal injury protection. So even though it sounds like having all the discounts means you get insurance for free, it’s just not the way it works.

A list of insurance companies and their offered discounts can be found below.

  • State Farm includes discounts for passive restraint, Drive Safe & Save, good student, multiple policy, driver’s education, and good driver.
  • Farmers Insurance discounts include business and professional, bundle discounts, switch companies, mature driver, homeowner, electronic funds transfer, and youthful driver.
  • Geico may offer discounts for membership and employees, anti-lock brakes, air bags, anti-theft, defensive driver, and federal employee.
  • American Family policyholders can earn discounts including good driver, mySafetyValet, defensive driver, bundled insurance, multi-vehicle, Steer into Savings, and air bags.
  • Nationwide may have discounts that include multi-policy, business or organization, accident-free, family plan, Farm Bureau membership, and anti-theft.
  • Progressive may include discounts for multi-policy, online signing, homeowner, continuous coverage, good student, and online quote discount.

Check with each company or agent the best way to save money. Depending on the company, some discounts may not be offered in your area.

Tesla Model S insurance premium factors

Lots of factors are part of the calculation when you quote your car insurance policy. Some of the criteria are obvious like an MVR report, although others are not quite as obvious like where you live and annual miles driven.An important part of buying insurance is that you know a few of the rating criteria that go into determining the price you pay for car insurance. If you know what positively or negatively impacts your premiums, this enables you to make decisions that could result in much lower annual insurance costs.

  • Don’t let your car insurance policy lapse – Driving without insurance coverage in place is a big no-no and you will pay a penalty because you let your insurance coverage expire. Not only will rates go up, the inability to provide proof of insurance could result in fines or a revoked license.
  • Is you vocation costing you more? – Do you have a high-stress occupation? Jobs such as lawyersair traffic controllers and miners have higher premium rates due to intense work-related stress and long work days. Conversely, careers like actors, athletes and retirees have the lowest average rates on Model S insurance.
  • What are your comp and collision deductibles? – Deductibles for physical damage represent how much money you are willing to pay before a claim is paid by your company. Insurance for physical damage to your car, also called comprehensive and collision insurance, is used to repair damage to your car. Some instances where coverage would apply could be a windshield broken by a bird, collision with a deer, and having a roll-over accident. The more you are required to pay out-of-pocket, the better rate you will receive on Model S insurance.
  • Males pay more for car insurance – Statistics show that women are safer drivers than men. This data doesn’t prove that men are worse drivers. Both sexes are responsible for auto accidents at a similar rate, but the male of the species cause more damage. Not only that, but men also get cited for more serious violations like reckless driving and DUI. Male teenagers tend to get in the most accidents and thus pay the highest rates.
  • Driving citations inflate costs – Your driving citation history has a big impact on rates. Drivers who don’t get tickets tend to pay less for car insurance as compared to those with violations. Even one speeding ticket can boost insurance rates by as much as thirty percent. Drivers who have gotten serious violations like DUI or reckless driving are required to maintain a SR-22 with their state DMV in order to legally drive.

Tailor your car insurance coverage to you

When it comes to buying the right insurance coverage for your vehicles, there isn’t really a best way to insure your cars. Every situation is different.

These are some specific questions can help discover whether or not you might need an agent’s assistance.

  • Is a blown tire covered by insurance?
  • Am I covered if I break a side mirror?
  • Is my Tesla Model S covered if I use it for business?
  • When should my teen driver be added to my policy?
  • Am I covered if I wreck a rental car?
  • Will filing a claim cost me more?
  • What is high-risk coverage and where do I buy it?
  • Can I get a multi-policy discount for packaging my home and auto coverage?

If you don’t know the answers to these questions but one or more may apply to you then you might want to talk to a licensed agent. To find lower rates from a local agent, simply complete this short form.

Insurance coverages 101

Knowing the specifics of your policy can help you determine the right coverages for your vehicles. The coverage terms in a policy can be confusing and nobody wants to actually read their policy.

Comprehensive coverage

This pays for damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things like hail damage, hitting a bird, rock chips in glass, a broken windshield and a tree branch falling on your vehicle. The most you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage kick in for bills for dental work, prosthetic devices, hospital visits and pain medications. The coverages can be used to fill the gap from your health insurance plan or if you do not have health coverage. It covers not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is not universally available but can be used in place of medical payments coverage

Uninsured/Underinsured Motorist coverage

Uninsured or Underinsured Motorist coverage gives you protection when other motorists do not carry enough liability coverage. Covered claims include injuries to you and your family as well as damage to your 2012 Tesla Model S.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Auto collision coverage

Collision insurance will pay to fix damage to your Model S caused by collision with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like scraping a guard rail, colliding with a tree, damaging your car on a curb and crashing into a building. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to bump up the deductible in order to get cheaper collision rates.

Auto liability insurance

Liability coverage can cover damage or injury you incur to other people or property. It protects YOU against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show values of 25/50/25 that means you have a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.

Liability can pay for things such as repair bills for other people’s vehicles, medical expenses and pain and suffering. How much liability should you purchase? That is a decision to put some thought into, but consider buying higher limits if possible.

More quotes. Lower rates.

The cheapest 2012 Tesla Model S insurance is available both online and from local agencies, so you need to shop insurance coverage with both to get a complete price analysis. Some companies may not provide online rate quotes and many times these small, regional companies provide coverage only through local independent agencies.

Drivers switch companies for a number of reasons such as being labeled a high risk driver, high prices, delays in responding to claim requests and even unfair underwriting practices. Regardless of your reason for switching companies, finding a new company can be pretty painless.

When trying to cut insurance costs, don’t be tempted to buy lower coverage limits just to save a few bucks. In many instances, an insured cut comprehensive coverage or liability limits and found out when filing a claim that the few dollars in savings costed them thousands. The ultimate goal is to find the BEST coverage at the best cost, not the least amount of coverage.

Other information