2018 Tesla Model X Insurance Rates – 5 Discounts for Cheapest Quotes

There isn’t a single person who fancies paying their premiums for insurance, particularly when they could lower their rates if they shopped around.

Because you have many insurance companies to choose from, it is hard for the average consumer to choose the cheapest company.

Buying car insurance is not rocket science. In a nutshell, every driver who is required by state law to have auto insurance most likely will be able to find lower rates. But vehicle owners need to learn how the larger insurance companies sell online and use this information to your advantage.

How to lower your insurance cost

Performing a rate comparison can be a lot of work if you don’t know the fastest way to get free quotes. You could waste a few hours discussing policy coverages with insurance companies in your area, or you can utilize the web to get pricing more quickly.

Many insurance companies participate in a marketplace where insurance shoppers send in one quote, and every company returns a competitive quote based on that data. This system prevents you from having to do quote forms to each individual insurance company.

To find out how much you’re overpaying now click here to start a free quote.

The only drawback to using this type of form is that consumers can’t choose which insurance companies to get pricing from. If you wish to select individual companies to request quotes from, we have a page of companies who write insurance in your area. Click here for list of insurance companies.

The method you choose is up to you, but try to use the exact same deductibles and coverage limits on every quote. If your comparisons have different deductibles you can’t possibly make a fair rate comparison. Even a minor difference in insurance coverages can mean a large discrepancy in price. And when comparison shopping, comparing a large number of companies helps improve the odds of finding a lower rate than you’re paying now.

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Lower your insurance rates with these five discounts

Discount Auto Insurance Image by QuoteInspector.com

Buying insurance is not cheap, but you may qualify for discounts that you may not even be aware of. Some discounts apply automatically at the time of purchase, but a few must be specially asked for before you will receive the discount.

• Military Discounts – Having a deployed family member could qualify you for better insurance rates.
• Discount for Home Ownership – Being a homeowner can help you save on insurance because of the fact that having a home requires personal responsibility.
• Discounts for New Vehicles – Adding a new car to your policy may earn a small discount because newer vehicles keep occupants safer.
• Good Driver Discounts – Drivers who don’t get into accidents can pay as much as 50% less for Model X insurance compared to rates paid by drivers with frequent claims.
• Theft Deterent Discount – Anti-theft and alarm system equipped vehicles have a lower chance of being stolen and that can save you a little bit as well.

As a footnote on discounts, most discounts do not apply to the entire cost. Most only cut specific coverage prices like liability and collision coverage. So when the math indicates it’s possible to get free car insurance, companies don’t profit that way.

Large insurance companies and their offered discounts are:

• State Farm has savings for multiple autos, anti-theft, defensive driving training, accident-free, Steer Clear safe driver discount, multiple policy, and good student.
• Geico policyholders can earn discounts including emergency military deployment, multi-vehicle, daytime running lights, five-year accident-free, good student, and defensive driver.
• SAFECO offers premium reductions for teen safety rewards, anti-lock brakes, homeowner, accident prevention training, and anti-theft.
• Farmers Insurance includes discounts for homeowner, mature driver, bundle discounts, early shopping, and alternative fuel.
• AAA discounts include multi-policy, pay-in-full, good driver, AAA membership discount, education and occupation, multi-car, and anti-theft.
• USAA offers discounts for driver training, multi-vehicle, family discount, safe driver, good student, and multi-policy.

Before buying, ask every insurance company the best way to save money. Discounts may not be offered in your area. To see insurers that can offer you the previously mentioned discounts, click here to view.

You are unique and your insurance should be too

When choosing coverage for your personal vehicles, there really is not a single plan that fits everyone. Everyone’s needs are different so your insurance needs to address that. For example, these questions can aid in determining if your insurance needs would benefit from an agent’s advice.

• Is my 2018 Tesla Model X covered for flood damage?
• What if I don’t agree with a claim settlement offer?
• Can my teen driver be rated on a liability-only vehicle?
• Why do I need rental car insurance?
• Should I rate my 2018 Tesla Model X as pleasure use or commute?
• When would I need additional glass coverage?
• Does car insurance cover theft of personal property?
• Are rock chip repairs covered?
• Do I need PIP (personal injury protection) coverage in my state?

If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, complete this form or you can go here for a list of companies in your area.

Learn about auto insurance coverages for a Tesla Model X

Knowing the specifics of your policy aids in choosing appropriate coverage at the best deductibles and correct limits. Auto insurance terms can be impossible to understand and coverage can change by endorsement. Shown next are the normal coverages available from auto insurance companies.

Collision coverages – Collision insurance pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things such as crashing into a ditch, damaging your car on a curb and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. It’s also possible to choose a higher deductible in order to get cheaper collision rates.

Uninsured and underinsured coverage – This provides protection from other drivers when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and also any damage incurred to your Tesla Model X.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.

Auto liability – This can cover damage or injury you incur to a person or their property that is your fault. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 25/50/25 which stand for 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 coverage pays for claims like legal defense fees, repair bills for other people’s vehicles, funeral expenses, court costs and pain and suffering. How much coverage you buy is a decision to put some thought into, but you should buy as large an amount as possible.

Comprehensive coverages – Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers claims like vandalism, rock chips in glass and hail damage. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses for rehabilitation expenses, hospital visits and X-ray expenses. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. They cover you and your occupants in addition to if you are hit as a while walking down the street. PIP coverage is not available in all states but can be used in place of medical payments coverage

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Buy Smart and Save

When searching for low cost insurance quotes, it’s very important that you do not reduce needed coverages to save money. Too many times, someone sacrificed full coverage only to discover later they didn’t purchase enough coverage. Your focus should be to purchase a proper amount of coverage at the best possible price and still be able to protect your assets.

Throughout this article, we presented many ways to reduce 2018 Tesla Model X insurance premium rates online. The most important thing to understand is the more rate comparisons you have, the better your chances of lowering your prices. Consumers could even find that the most savings is with a company that doesn’t do a lot of advertising. Smaller companies can often insure niche markets at a lower cost than the large multi-state companies such as Allstate or State Farm.

Helpful resources

• What if I Can’t Find Coverage? (Insurance Information Insitute)
• Neck Injury FAQ (iihs.org)
• Senior Drivers (Insurance Information Insitute)
• Safety Tips for Teen Drivers (Insurance Information Insitute)
• Things to Know Before you Cancel Insurance (Allstate)
• Auto Insurance 101 (About.com)

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