Cybertruck Insurance Premium Cost?

TirNaOg

Well-known member
First Name
Deasun
Joined
Apr 7, 2020
Threads
17
Messages
212
Reaction score
250
Location
NJ
Vehicles
Expedition
Country flag
Thats the part that scares me atm. Hope Tesla insurance comes to NJ soon.
Would hate to not get CT because of insurance costs. :(
Sponsored

 

egandalf

Well-known member
First Name
James
Joined
May 18, 2020
Threads
3
Messages
250
Reaction score
700
Location
41144
Vehicles
2010 Toyota Tacoma
Country flag
(Update: I misread the per-month charges for Progressive. Fixed.)

After seeing your thread, I decided to get three quotes from both Geico and Progressive. I'm in Kentucky, and YMMV, but I saw similar results for Geico but VERY different results for Progressive.

Here's what I came up with. The Tacoma is my current daily driver that the CT will replace. The Tundra is what I was considering before the CT was announced.

Geico:
2010 Tacoma: $43.74/mo | $250.43/6mo
2021 Tundra: $94.30/mo | $539.34/6mo
2021 MY: $163.06/mo | $948.27/6mo

Progressive:
2010 Tacoma: $40.64/mo | $209/6mo
2021 Tundra: $55.61/mo | $283/6mo
2021 MY: $64.64/mo | $332/6mo

All the same inputs and vehicle configurations. I've heard elsewhere that Progressive is FAR more sensible than most other insurers. For my estimates, at least, this seems very true.

Progressive also is running nearly 50% less than Geico on the Tundra and around 60% less on the MY.

Pays to shop around.
 
Last edited:

IceCold

Member
Joined
Aug 22, 2020
Threads
0
Messages
11
Reaction score
21
Location
United States
Vehicles
Cybertruck
I checked with progressive and Tesla’s are only just a little bit higher than regular vehicles.

Not enough of a difference really to buy or not buy a Tesla versus any other new vehicle of similar value.

Glad I researched this, as I might save almost $1,000 a year if I switch my insurance on my current vehicles.

Keep your preorders!!
 

azjohn

Well-known member
First Name
john
Joined
Nov 21, 2019
Threads
20
Messages
434
Reaction score
497
Location
Henry County Virginia
Vehicles
Toyota Tundra
Country flag
Many factors come into play with insurance, not just the vehicle. If you own your home try bundling that alone saves me $400 a year for me and my wife. We insure a Tundra and Honda Pilot $900 a year for both cars

I am with USAA switched from State Farm, they had wanted $1500 a year for the same coverage
 

azjohn

Well-known member
First Name
john
Joined
Nov 21, 2019
Threads
20
Messages
434
Reaction score
497
Location
Henry County Virginia
Vehicles
Toyota Tundra
Country flag
I have been with USAA for a long time.
We have the farm and all vehicles insured with them and get a discount for doing so.
No one has ever beaten their prices.
Unless Tesla offers lower rates I'll stick with USAA.
Agree, I am also with USAA and the cheapest rates you can find
 


IceCold

Member
Joined
Aug 22, 2020
Threads
0
Messages
11
Reaction score
21
Location
United States
Vehicles
Cybertruck
I did switch my insurance to progressive.yesterday afternoon

Insurance dropped from about $7,000 per year with geico to under $3,000 with progressive ......yes that is correct, I live in Louisiana and we often pay double what many states pay even under the best of circumstances.

I do not even have high limits, or overly expensive vehicles.I had 13 eligible discounts with progressive.

Have a 16 year old honor student daughter that geico was charging $2,200 every 6 months. No claims by her or anyone else ever. She has been driving for less than 6 months, so glad I only overpaid horrendously for 5 months . To be fair the rates for me and my wife were not much different with either company.

The insurance companies don't really seem to care what other companies charge, they just have their own actuaries that create their own rates.

I should have known to have at least shopped around with a 16 year old driver.

I will shop around from now on every couple years.

Back to the forum, just be sure to shop around as companies are all over the place many times. Some companies charge 3 times as much as others do for Teslas or 4 times as much for teen drivers etc.
 

CybrTrkWdWk

Well-known member
Joined
Feb 18, 2020
Threads
2
Messages
65
Reaction score
156
Location
Texas
Vehicles
Dual Motor FSD
Occupation
Design, Woodworking
Country flag
I have seen so many horror stories online about insuring a Tesla so out of curiosity I recently got a quote from USAA to change from my 2012 Prius V to a 2021 Model Y Long Range AWD and the rate only went up about $100 for 6 months coverage. Cybertruck will surely cost more to insure, but I don't suspect it will be absurdly high compared to similar sized trucks as long as you go with an insurance company that isn't screwing EV owners.

It will be interesting to see how Tesla's insurance compares when they start offering it here in Texas.

Glad you found reasonable insurance!
 
OP
OP

Bonnie

Member
Joined
Jun 11, 2020
Threads
8
Messages
16
Reaction score
8
Location
California
Vehicles
Ram 1500 , 2 Mustang GT’s, Saturn Sky, Ducati
Occupation
Retired Educator
Country flag
Thanks for the info!
 

FutureBoy

Well-known member
First Name
Reginald
Joined
Oct 1, 2020
Threads
207
Messages
3,522
Reaction score
6,012
Location
Kirkland WA USA
Vehicles
Toyota Sienna
Occupation
Financial Advisor
Country flag
Based on the various TeslaCam videos it seems like Teslas are also a target of thieves breaking windows to grab contents. Might be bias based on only Tesla’s taking video but there are quite a number where the thieves drive through a parking lot till they spot a Tesla.

Definitely looking forward to the CTs strong windows. Hopefully they are not going to break using those glass break hammers.
 


TessP100D

Banned
Well-known member
Banned
First Name
Faris
Joined
Jan 28, 2021
Threads
0
Messages
49
Reaction score
29
Location
So cal
Vehicles
2017 P100D
Country flag
Tesla insurance is a California thing as far as I know. A year or so ago I checked in to it and it was not even an option due to its limitations.
Sponsored

 
 




Top