Cheaper 2013 Tesla Model S Insurance Cost

Trying to find cheaper car insurance rates for your Tesla Model S? Nobody I know likes having to buy car insurance, particularly when their premiums are too high.

Many car insurance companies vie for your business, and it can be difficult to compare rates to find the absolute lowest rate

It’s smart to do rate comparisons before your policy renews because rates are variable and change quite frequently. Even if you got the best rates for Model S coverage a year ago the chances are good that you can find a lower rate today. So just forget anything you know (or think you know) about car insurance because it’s time to teach you the best way to find lower rates on car insurance.

The quickest way to compare insurance rates from multiple companies utilizes the fact most of the bigger providers have advanced systems to provide you with a free rate quote. To begin a comparison, all you need to do is give them some information like if you are currently licensed, your general credit rating, your job, and how many miles driven. The rating information is then sent to insurance companies and they provide comparison quotes very quickly.

Which insurance is the “right” coverage?

When buying coverage, there really is not a cookie cutter policy. Coverage needs to be tailored to your specific needs so your insurance needs to address that. For instance, these questions could help you determine if your situation could use an agent’s help.

  • Do I need added coverage for expensive stereo equipment?
  • Does having multiple vehicles earn me a discount?
  • Is my trailer covered?
  • What is the minimum liability in my state?
  • What exactly is covered by my policy?
  • Do all my vehicles need collision coverage?
  • Are my friends covered when driving my 2013 Tesla Model S?

If you can’t answer these questions but a few of them apply, you may need to chat with a licensed agent. If you don’t have a local agent, complete this form or you can also visit this page to select a carrier

Insurance coverages explained

Understanding the coverages of your insurance policy helps when choosing the best coverages for your vehicles. Insurance terms can be impossible to understand and even agents have difficulty translating policy wording. Shown next are the normal coverages available from insurance companies.

Auto liability insurance

Liability coverage protects you from injuries or damage you cause to a person or their property in an accident. This insurance protects YOU against other people’s claims. 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 policy limits of 25/50/25 that means you have a limit of $25,000 per injured person, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property. Another option is one limit called combined single limit (CSL) which combines the three limits into one amount and claims can be made without the split limit restrictions.

Liability can pay for claims such as repair costs for stationary objects, emergency aid, court costs, attorney fees and bail bonds. How much coverage you buy is a decision to put some thought into, but consider buying as large an amount as possible.

Collision insurance

Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things such as driving through your garage door, sideswiping another vehicle, crashing into a building and colliding with a tree. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible to get cheaper collision coverage.

Uninsured or underinsured coverage

This coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered claims include injuries to you and your family and also any damage incurred to your Tesla Model S.

Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally the UM/UIM limits do not exceed the liability coverage limits.

Medical expense coverage

Coverage for medical payments and/or PIP reimburse you for expenses such as EMT expenses, chiropractic care, surgery and ambulance fees. They are often used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. It covers both the driver and occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Comprehensive protection

This will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things such as vandalism, a broken windshield and hitting a deer. The highest amount you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.