Tesla insurance increased 50% after the first six months

[Pops]

I had Tesla insurance and experienced similar fluctuations.

I went from $209 to $275 to $140. I'm switching to progressive insurance to have a consistent cost.

Tesla insurance actually made me afraid to drive the truck because it penalizes you for driving and it's recording everything you do. I am getting false forward collision warnings and that has a big impact on the cost.

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[AO-Pete]

Tesla Insurance (was with them when they launched, but left about a year later due to rates) quoted me $150.98pm in in Feb for the CT, that's with the Highland on there at $178. That was cheaper than the previous insurance I had with Amfam Connect (Costco), which literally increased by 85% in the space of 6 months with no changes to driving history etc.

Ended up going to Progressive, they were the only company I could find that were significantly cheaper than any of the others, $51pm for the CT, $73pm for M3H. Both at a $2k deductible, 100/300 uninsured/underinsured, and 250/500 body & property. Our miles are low, but that won't be truly reflected until renewal, as we're also subscribed to Snapshot (which is annoying, but FAR less annoying than Safety Score).

 

[Crissa]

Nothing against you, but I guess redlining has become redzoning?

Basically the same, yeah.

It also helps insurance uptake - the more someone is excluded for having he wrong shift or neighborhood, the more likely they are to just not be insured.

-Crissa

 

[Stinky10r]

Basically the same, yeah.

It also helps insurance uptake - the more someone is excluded for having he wrong shift or neighborhood, the more likely they are to just not be insured.

-Crissa

That's wild.

 

[Li5aTe5la]

Hi everyone, I signed up for Tesla insurance in February with a monthly rate of $198. I just got an email from Tesla saying that the next six months is going to be $299 per month. Has anyone experienced a 50% increase after the first six months? I attached the email. I'm planning on calling the local insurance placed I used to go to tomorrow and will report back. I'm in California, no points and 21 years of driving experience.

The previous and estimated mileage didn't change.

I have Tesla insurance for 2 mos now, on my Cybertruck. It was $330 for the first 2 mos saying it starts with a driving score of 90 and would adjust over time. Now my score is 97-98 and my August premium is projected to be $433! I could buy a model Y for less. I emailed them yesterday (the call wait time was 20 min) and am waiting for a reply. USAA gave me a quote for $233 (I am in CO) so I will most likely switch but I would like to know why Tesla Insurance is such a rip off.

 

[jf64k]

OP, I'm with Wawanesa. Have them for home and car for over 20 yeras. Love them.

However, AAA just bought them. They claim there will be no changes, but we'll see, haha!!

Insurance Coverage for Auto, Home, Condo & Renters in the U.S. - Wawanesa U.S.

 

[Crissa]

That's wild.

Well, it's like we also reduced penalties for driving unlicensed and uninsured while raising the penalties for not reporting accidents. So it's more logical to admit it and report than to run.

Also, not connecting licensing to visa status (although you can have the star that does) means temporary workers are more likely to be up to date in their licensing.

It's all a bunch of weirdly interconnected stuff!

...but I would like to know why Tesla Insurance is such a rip off.

Probably just like Tesla's insurance rates hopping up and down reacting to not having a large pool of risk and investments to average out yet.

-Crissa

 

[Cybergirl]

I switched my CT from Tesla insurance to State Farm. CT insurance rose from $168.28 in April to $206.91 in May to $238.18 in June to $276.35 in July. Enough is enough!! I'm now paying $106.37/mo for the CT with better liability coverage. My CT Safety Score was 94 when I brought my CT in to the SC, and was 91 when I picked it up. They told me that when put in 'Service Mode" the Safety Score is disabled. Apparently not. I still have Tesla insurance on my Model Ys. By always using FSD, I keep my Safety Score at 98 or 99 and getting a good rate.

 

[Li5aTe5la]

I had Tesla insurance and experienced similar fluctuations.

I went from $209 to $275 to $140. I'm switching to progressive insurance to have a consistent cost.

Tesla insurance actually made me afraid to drive the truck because it penalizes you for driving and it's recording everything you do. I am getting false forward collision warnings and that has a big impact on the cost.

Same sort of situation for me. My first 2 mos were $332 and for August they want $423 and I have a 98 driving score. I emailed them twice and no reply. I am switching to USAA for $210. I have a Cybertruck.

 

[Isingh]

Thank you both! I'll call around and report back.

I'm wondering if this is going to be for everyone in California after the first six months are done

I am running into same issue in N . Ca.

 

[CyberTruck530]

I am running into same issue in N . Ca.

Thanks everyone for all the input. I have a few more weeks to deal with it and have put it off. I'll call around and report back. I'm also in northern california where safety score doesn't matter.

 

[thrillbourne]

Welp just got my first renewal notice after 6 months and they’re raising my monthly from $186.16 to $267.35, a 43.6% increase. And this is with their so called “Elite Driver Discount” lol. Time to start shopping!

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