Lower Your 2017 Tesla Model S Car Insurance Cost

Locating low-cost insurance for your Tesla Model S could be an all-consuming task, but you can learn our insurance buying tips to save time. There are both good and bad ways to shop for insurance so you’re going to learn the absolute fastest way to compare rates for your Tesla and find the lowest possible price either online or from local insurance agents.

It’s important to check insurance prices before your next renewal since insurance prices change regularly. Even if you got the best deal on Model S insurance a year ago a different company probably has better rates today. There are a lot of ways to save on insurance on the internet, but in this article, you’re going to get the best ways to lower your insurance premiums.

If you have insurance now or are just looking to switch companies, you can follow these tips to cut your premiums while maximizing coverage. Shopping for the best protection can be fairly easy. Drivers just need to learn the proper way to compare rates online.

Quote insurance online

Getting low cost 2017 Tesla Model S insurance pricing is a great way to save money. The only requirement is to invest a few minutes comparing rates to see which company has inexpensive insurance coverage quotes. This can be done in just a few minutes using one of these methods.

The fastest way to find low rates is an all-inclusive rate comparison click to view form in new window. This method keeps you from doing separate quote forms for every company. Taking the time to complete one form gets prices estimates from multiple companies. This is perfect if you don’t have a lot of time.

A slightly less efficient method to analyze rates requires you to visit the website for every company you want to comare to request a price quote. For sake of this example, let’s assume you want comparison quotes from USAA, Farmers and Geico. To get rate quotes you would need to go to every website and repeatedly type in your coverage information, and that’s why the first method is more popular.

For a list of links to insurance companies in your area, click here.

The least efficient method to find lower rates is calling or driving to and from local insurance agencies. The ability to get quotes online can eliminate the need for a local agent unless you prefer the advice and guidance of a local agency. It is possible with some companies obtain prices from the web and have a local agent actually service the policy.

Whichever method you choose, try to use exactly the same coverage limits and deductibles for each price quote. If you use different values for each quote it will be impossible to determine which rate is truly the best.

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Car insurance discounts are available to cut your rates

Some insurance providers don’t always list all disounts very well, so the next list breaks down some of the more common in addition to some of the lesser obvious discounts that you can inquire about if you buy insurance coverage online.

• Military Rewards – Being deployed in the military may qualify for rate reductions.
• Senior Citizens – Older drivers are able to get a discount up to 10% on Model S insurance.
• Multiple Policy Discount – If you combine your auto and home policies with the same company you will save 10% to 20% off each policy.
• Low Mileage – Fewer annual miles on your Tesla may enable drivers to earn lower rates due to less chance of an accident.
• Theft Deterent Discount – Vehicles equipped with anti-theft or alarm systems are less likely to be stolen and earn discounts up to 10% off your insurance coverage quote.
• Claim-Free Discount – Drivers with accident-free driving histories can earn big discounts in comparison with insureds who have frequent claims or accidents.
• Discount for Life Insurance – Select car insurance companies reward you with a discounted price on car insurance if you buy some life insurance in addition to your auto policy.

Policy discounts save money, but many deductions do not apply to the overall cost of the policy. Some only apply to the price of certain insurance coverages like collision or personal injury protection. So even though it sounds like adding up those discounts means a free policy, car insurance companies aren’t that generous.

A few of the larger companies and the discounts they provide include:

• Farm Bureau offers discounts including multi-policy, driver training, safe driver, multi-vehicle, youthful driver, and good student.
• State Farm policyholders can earn discounts including defensive driving training, driver’s education, good driver, passive restraint, accident-free, good student, and safe vehicle.
• Progressive may have discounts that include multi-policy, online quote discount, good student, online signing, and multi-vehicle.
• Allstate has savings for auto/life discount, 55 and retired, eSmart discount, economy car, good payer, and farm vehicle.
• Nationwide offers premium reductions for multi-policy, good student, Farm Bureau membership, anti-theft, easy pay, and business or organization.
• MetLife may offer discounts for good student, accident-free, defensive driver, claim-free, good driver, and multi-policy.

It’s a good idea to ask all companies you are considering how many discounts you can get. Some of the discounts discussed earlier may not apply in your area. To locate companies that offer the discounts shown above, click here.

How your Model S insurance premiums are determined

An important part of buying insurance is that you know some of the things that help determine the price you pay for auto insurance. When you know what positively or negatively determines base rates, this helps enable you to make changes that will entitle you to lower premium levels.

Shown below are some of the things used by insurance companies to determine prices.

• Don’t abuse claims – Companies generally give the lowest premiums to drivers who are not frequent claim filers. If you’re an insured who likes to file claims you can look forward to higher rates. Auto insurance is meant to be used in the event of claims that pose a financial burden.
• Safeguard your assets with liability protection – Your policy’s liability coverage will provide protection in the event that you are found to be at fault for causing personal injury or damage in an accident. Your policy’s liability insurance provides legal defense coverage which can be incredibly expensive. Liability is cheap compared to insuring for physical damage coverage, so drivers should buy more than the minimum limits required by law.
• Urban residents pay more – Choosing to live in less populated areas of the country can save you money when shopping for auto insurance. Fewer people means reduced accidents in addition to fewer liability claims. Drivers who live in large cities have to deal with much more traffic and longer commutes to work. More time on the road translates into higher accident risk.
• Always keep your coverage in force – Driving without insurance coverage in place is a misdemeanor and you will pay a penalty because you let your insurance lapse. And not only will insurance be more expensive, not being able to provide proof of insurance can result in fines or a revoked license.
• Pay more out-of-pocket – The deductibles define the amount you are required to spend in the event of a claim. Physical damage insurance, termed comprehensive and collision coverage on your policy, protects your car from damage. Some examples of claims that would be covered are colliding with a stationary object, damage from fire, and damage from wind. The more of the claim you choose to pay out-of-pocket, the less your auto insurance will be on Model S insurance.

Everyone needs different insurance coverages

When choosing the best insurance coverage for your personal vehicles, there really is not a one size fits all plan. Every insured’s situation is different.

For example, these questions could help you determine whether or not you will benefit from professional help.

• Do I need replacement cost coverage?
• Why do I need rental car insurance?
• When should I drop full coverage on my 2017 Tesla Model S?
• Are my tools covered if they get stolen from my vehicle?
• How do I buy GAP insurance?
• Am I insured when driving a different vehicle?
• Are all vehicle passengers covered by medical payments coverage?
• Is pleasure use cheaper than using my 2017 Tesla Model S to commute?
• Do I have coverage when pulling a U-Haul trailer?

If you’re not sure about those questions, then you may want to think about talking to a licensed agent. If you don’t have a local agent, simply complete this short form. It only takes a few minutes and may give you better protection.

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Will you really save $426 on insurance coverage?

Consumers get pounded daily by advertisements that claim the best rates by Allstate and Progressive. All the ads make an identical promise that drivers will save a bundle if you move your policy.

It sounds good, but how can they all lower your rates? This is the trick they use.

Insurance coverage companies offer their best rates for the type of customer that makes them money. For instance, this type of driver could possibly be between the ages of 30 and 50, has no claims, and the vehicle is rated for pleasure use. Any person who fits those characteristics will get a cheap rate quote and will most likely save quite a bit of money when switching.

People who fall short of these stringent criteria may be forced to pay a higher premium and this can result in the customer buying from someone else. If you pay close attention to the ads, they say “customers that switch” not “everyone who quotes” can get the lowest rates when switching. That’s why companies can make it sound like they have such great premium rates. This illustrates why you really need to get insurance coverage quotes from several different companies. It’s not possible to predict which insurance companies will have the lowest rates.

Auto insurance coverage considerations

Having a good grasp of your auto insurance policy aids in choosing appropriate coverage at the best deductibles and correct limits. Policy terminology can be ambiguous and coverage can change by endorsement.

Comprehensive insurance – This covers damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things like theft, falling objects and hail damage. The most you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist (UM/UIM) – This protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. Covered losses include hospital bills for your injuries and damage to your Tesla Model S.

Since many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP provide coverage for short-term medical expenses such as prosthetic devices, surgery, funeral costs, X-ray expenses and nursing services. They are often used in conjunction with a health insurance policy or if you do not have health coverage. It covers all vehicle occupants in addition to being hit by a car walking across the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Liability coverages – Liability coverage will cover damage that occurs to other people or property by causing an accident. It protects YOU from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 100/300/100 which means $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.

Liability can pay for claims such as loss of income, court costs, legal defense fees and repair costs for stationary objects. The amount of liability coverage you purchase is your choice, but it’s cheap coverage so purchase higher limits if possible.

Collision – This coverage pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for claims like backing into a parked car, rolling your car, crashing into a building and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. Drivers also have the option to increase the deductible to bring the cost down.

Compare but don’t skimp

When shopping online for insurance, it’s very important that you do not buy poor coverage just to save money. There have been many cases where someone dropped physical damage coverage only to find out they didn’t purchase enough coverage. Your aim should be to purchase plenty of coverage at the lowest possible cost.

Some insurance companies do not offer online quoting smaller companies provide coverage only through local independent agencies. Lower-priced insurance can be bought online and from local insurance agents, and you should compare price quotes from both so you have a total pricing picture.

Consumers leave their current company for many reasons like extreme rates for teen drivers, an unsatisfactory settlement offer, policy non-renewal or even denial of a claim. It doesn’t matter what your reason, finding a new company can be pretty painless.

Additional information is located below:

• Alcohol Impaired Driving FAQ (iihs.org)
• Tools for Teen Driving Safety (State Farm)
• Winter Driving (Insurance Information Insitute)
• Car Insurance for Teen Drivers with Divorced Parents (Allstate)
• Car Insurance: When not to Skimp (BankRate.com)

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