Tesla Model 3 insurance: GEICO among the first to provide quotes

Discussion in 'Model 3' started by dangelomatt12, Jul 19, 2017.

  1. dangelomatt12

    dangelomatt12 Member

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    Ask any Tesla Model 3 reservation holder and they’ll probably tell you how beautiful their future vehicle will be — the sleek exterior, the space-age console and display screen, the unique door handles. But as the Model 3 release party nears, there’s something far less sexy on the docket, albeit still of the utmost importance: car insurance.

    Reports surfaced yesterday on Twitter that GEICO is among the first agencies to offer insurance for the Model 3, and some owners say the options are reasonably priced. The Tesla Show podcast tweeted a photo saying that GEICO would insure the Model 3.



    Teslarati later confirmed that Model 3 owners can begin the process to insure their new vehicle so that it is ready to be legally driven the day it arrives.

    The quotes also appear fairly reasonable, according to owners on Twitter.

    “Mine seems pretty reasonable. This is excellent news,” tweeted 887512306338418695[/MEDIA]]@Robert_Murdock with a photo depicting a $631.87 six-month premium.

    Owners also mentioned that USAA would be providing coverage.

    “(The quote is) about 20% cheaper than what I’m paying now for our i3, and about 5% more than our 2016 Mini Clubman.  Not bad!” tweeted 887509229732585473[/MEDIA]]@galaxytodd.

    Tesla’s VP of Global Investor Relations Jeff Evanson said in February that Tesla will be looking to provide a seamless, all-in-one insurance policy for drivers. Tesla currently offers this option to Model S and X drivers in Asia.

    “We’ve been doing it quietly, but in Asia in particular where we started this, now the majority of Tesla cars are sold with an insurance product that is customized to Tesla, that takes into account not only the Autopilot safety features but also the maintenance costs of the car,” Evanson said. “It’s our vision in the future that we’ll be able to offer a single price for the car, maintenance and insurance in a really compelling offering for the consumer.”

    With the Model 3 delivery event set to take stage on July 28 from Fremont,  drivers seem to be beginning to address all the aspects of owning a Model 3.

    Article: Tesla Model 3 insurance: GEICO among the first to provide quotes
     
  2. vincent wolf

    vincent wolf Member

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    Way too pricey.

    I pay just $420 premium on my 2014 Nissan Leaf (6 months) and only $308 for my 2017 Nissan Leaf using ANPAC. Plus underinsured and uninsured policy premiums of $43.50 each so totals are $463.50 for my 20145 Leaf and $351.50 for my 2017 Nissan Leaf. Not only that if I have no claims in 3 years on the policies I get 25% back (rebate) so the real cost is only $347.63 for the 2014 Leaf and a palty $263.63 for the 2017 Leaf !!

    Yeah I'm an older retired driver who has never had an accident caused by myself (been hit once by left turning 15 year old teenager hot rodding out of McDonald's at lunch time racing to get back to school before tardy). So that keeps my premiums lower than most.

    Geico is one of the priciest insurance companies around. Good for motorcycle insurance though.

    I'll update this when I hear back from ANPAC on rates they expect me to pay for my upcoming Tesla model 3 purchase sometime after November......hoping anyway.
     
  3. Taylor S Marks

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    Progressive still won't give me a quote. I've been wanting to swap away from them anyways, maybe this will be the final straw that finally gets me to do do some research and switch.
     
  4. Ulmer

    Ulmer New Member

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    Insurance quotes have so many variables. Not much point in judging whether someone's policy is too expensive based only on the car model........
     
  5. John P

    John P New Member

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    At this time the Geico website says around $70/mo for me.But I want a little more coverage and lower deductibles than most.
     
  6. electrocar

    electrocar New Member

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    Was curious what my rates might be since I haven't had a car in almost 2 years. Was quoted $1145 for a 6 month policy :eek: I did get some discounts for prior military, excellent driver, excellent credit, new car, anti theft for a total of $185 in discounts. My last car was an 07 BMW 3 series, twin turbo and I paid $70 month for that insane car. A little shocked at my rate to be honest but we'll see down the road what other insurance companies are charging.
     
  7. Jillian McCleskey

    Jillian McCleskey New Member

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    Choosing an auto insurance company that offers the best auto insurance rate, free auto insurance quotes and/or a flexible program that can be customized to fit your individual needs, simply take the time to shop around and compare auto insurance from more than one company prior to making a final decision. It would be beneficial for you to look accurately for your requirements. Also, go for multiple quotes via Internet or some recommended site as possible to get the best suitable option for your needs.

    I am currently dealing with this estimate for the auto insurance renewal for my car.
    Bodily Injury $250,000 per person/$500,000 per accident
    Property Damage $100,000 per accident
    Personal Injury Protection $2,500 per person
    Uninsured/Underinsured Motorists
    Bodily Injury $250,000 per person/$500,000 per accident
    Property Damage $100,000 per accident- $250 deductible
    Physical Damage Comprehensive - $50 deductible

    Hopefully will get settled soon.
     
  8. electrocar

    electrocar New Member

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    Quick update to my original comment. I grabbed a quote from USAA and my monthly cost was cut a little more than half to $585 for a six month policy. Monthly payment would be $97 a month. A lot better than Gieco that's for sure. Still waiting for Metromile to update their website with the Model 3 and I'll update my comment once again.
     
  9. electrocar

    electrocar New Member

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    Another update, Metromile has rates for the Model 3.
     

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