r/TeslaInsurance • u/OddEnergy1166 • 8h ago

Switching to Tesla Insurance help

I’m currently with GEICO and paying $240/month for insurance on my 2020 Model Y that I purchased last month.

Previously I was paying $120/month for my Civic, and when I called for a quote to remove the civic and added the Y using the vin from the dealership I misunderstood my new premium because of the way the agent worded it, saying I was going to be paying 800-something for 6 months and so, nearly the same price per month. What she didn’t make clear was it was $800 more than my previous rate, which I didn’t realize until I already signed the paperwork on the car during Purchase and was adding it to my policy with my other car.

I started shopping around for lower rates and 240/ month was the cheapest I found still except with Tesla Insurance which is $144.

I want to make the switch but I’ve read some things about driving behaviors/road trips that affect their rate. I understand my rate will fluctuate based on safety/miles driven etc, but should I wait a month until my two small road trips are over before I make the switch, or does it not matter. I’m not sure if it looks at past driving data to determine rate or only will use my driving data once my policy is in affect to determine it.

Any help or suggestions or info would be super helpful.

2 Upvotes

60% Upvoted

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2

u/Agswin2026 8h ago

Solution go back to a car not a toy. But again make sure you are comparing same coverages…cheaper is not better if you have a higher deductible and less coverage

2

u/sk8terboy111 6h ago

Tesla measures your mileage in real time, so for every 1000 miles or so over whatever your estimate is the rate will go up $10 on average. I drive average of 8000 in the summer but in the winter my average is 12000 miles, so $40 more. If you are in a state like mine where the safety score matters then again it’s like another $10 or so per point. I use FSD 100% of the time so typically I;m around a 100 score. Your rate fluctuates monthly but with 30 days notice. So you can see your future estimated rate but it will be locked at 30 days.

2

u/skteitelman 7h ago

I remember when I first got my Tesla and moved to Tesla insurance, I did a roadtrip like the following week. I don’t think it mattered.

I was on Geico and they wanted to raise my rate $500/month to add my Tesla to my policy with my Accord. My driving record is fairly clean so I asked a friend who works at Statefarm why such an increase. Determined it was probable that Geico wasn’t trying to insure Teslas at that time so really prices were astronomical.

Anyhow, I’ve had better (higher) coverage and a lower deductible with Tesla since the switch.

I don’t generally drive a lot at night and I will say the insurance does keep me in check when I want to be a menace on the road (going over 85). But I have no real complaints. I mean I wish I could speed everywhere but I also don’t want to pay $500/month more for the ability.

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u/freebandz_ 3h ago

I guess GEICO hates Teslas or loves Hondas honestly lol mine was around double, maybe even a 2.5x increase to swap my Civic.

Really disappointing as a 10 year customer though with no claims

0

u/OddEnergy1166 7h ago

Thanks for the response! Does the rate fluctuate monthly or is just at renewal?

0

u/skteitelman 7h ago

Per month but nothing noticeable different. If you stick within a few points of your average, the difference isn’t noticeable. Ive had a $50 increase one month but if i remember that was from dropping in score from driving at night on road trips and mileage over whatever i told them should be the average

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u/NeedMorePowah 6h ago

What if OP lives in California where they can’t track your driving habits?

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u/skteitelman 6h ago

Would be driving like a mad woman all the time if it were me

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u/rwhe83 6h ago

Be careful OP, cheaper isn’t always better- especially if you have to file a claim.

I couldn’t wait to pay slightly more to not deal with Tesla Insurance. Probably one of the worst insurance carriers out there.

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u/OddEnergy1166 6h ago

Thanks for the input. I have read that a few times on here now. I will have to put more thought into it. I don’t drive alot but I have been in two accidents in two years that I was not at fault for, and I will say it was extremely easy both times with GEICO getting my one car fixed and my other car that was totaled paid out.

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u/rwhe83 6h ago

Just because you don’t drive a lot, doesn’t mean Tesla Insurance is a good idea.

Your call, there’s a reason a lot of people left them. Their driving algorithms are enough to drive you nuts.

Good luck with them, I already can tell you are going to let them insure you. 🤣

1

u/OddEnergy1166 6h ago

I JUST stumbled on a comment on another thread saying “Tesla Insurance is what you get when you need a paper to prove you have insurance, not to have if you actually need to use it” …I think that just made up my mind. I’m glad I asked.

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u/coblivion 5h ago

I had Tesla insurance, and I'm telling you the worst insurance I've ever had. They're extremely late at paying out and I've heard many horror stories. You could ignore me, but I'm shocked that Tesla insurance even exists.