2016 Tesla Model X Car Insurance Cost – 7 Policy Discounts

Searching for better car insurance rates for your Tesla Model X? Locating better insurance prices for a Tesla Model X can turn out to be a painful process, but you can learn a few tricks to save time. There are both good and bad ways to find car insurance online so you’re going to learn the best way to get price quotes for a new or used Tesla and get the lowest price either online or from local insurance agents.

It’s a good idea to shop coverage around at least once a year because insurance rates are constantly changing. Despite the fact that you may have had the best deal for Model X insurance six months ago you may be paying too much now. Forget all the misinformation about car insurance because you’re about to find out how to use the internet to buy cheaper car insurance.

If you have a policy now or are just looking to switch companies, you can use this information to get lower rates and possibly find even better coverage. Finding the cheapest car insurance coverage is simple if you know the tricks. Consumers just need to learn the most efficient way to compare price quotes over the internet.

Comprehensive Insurance Comparison

All the larger insurance companies like Allstate, GEICO and Progressive give insurance quotes on their websites. Getting quotes is quite easy as you simply enter your personal and coverage information into a form. Upon sending the form, their rating system automatically retrieves credit information and your driving record and returns a price based on these and other factors.

Quoting online helps simplify price comparisons, but having to visit a lot of sites and complete many quote forms gets old quite quickly. Unfortunately, it is important to have as many quotes as possible if you want to find the best price on insurance.

There is a better way to compare rates

An easier way to locate the lowest prices is to use a quote form to get prices from several companies at one time. It saves time, eliminates form submissions, and makes online quotes much easier to do. Immediately after submitting the form, it is rated with multiple companies and you can pick any of the quotes returned. If one or more price quotes are lower than your current rates, you can click and sign and buy the policy. The entire process takes 15 minutes at the most and you will know how your current rates stack up.

If you want to fill out one form to compare multiple rates now, click here to open in new window and input your coverage information. If you have coverage now, it’s recommended you enter coverages and limits exactly as shown on your declarations page. Doing this assures you will have a price comparison based on similar coverages.

Cut your insurance rates with these seven discounts

Car insurance companies don’t always advertise all available discounts very clearly, so we break down some of the more common and the more hidden discounts you could be receiving. If you’re not getting every credit available, you are paying more than you should be.

  • No Claims – Drivers with accident-free driving histories can save substantially when compared to accident-prone drivers.
  • Sign Early and Save – Some insurance companies reward drivers for switching to them before your current policy expires. It can save you around 10%.
  • Discounts for Safe Drivers – Drivers who avoid accidents may receive a discount up to 45% less for Model X insurance than drivers with accident claims.
  • Good Student Discount – This discount can be rewarded with saving of up to 25%. The discount lasts until age 25.
  • Senior Citizens – If you qualify as a senior citizen, you may qualify for better insurance rates for Model X insurance.
  • Military Discounts – Being on active duty in the military may qualify for rate reductions.
  • Federal Government Employee – Simply working for the federal government could cut as much as 10% off for Model X insurance with select insurance companies.

A little note about advertised discounts, most discounts do not apply to your bottom line cost. Some only apply to individual premiums such as comprehensive or collision. Just because you may think having all the discounts means you get insurance for free, it doesn’t quite work that way.

Insurance companies that may have these discounts may include but are not limited to:

Before buying, ask every prospective company which discounts you may be entitled to. Some discounts might not apply in your state.

You are unique and your insurance coverage should be too

When it comes to choosing the best insurance coverage coverage, there isn’t really a cookie cutter policy. Everyone’s situation is a little different.

Here are some questions about coverages that could help you determine if your situation will benefit from professional help.

  • If I drive on a suspended license am I covered?
  • Do I pay less for low miles?
  • Why do I need rental car insurance?
  • At what point should I drop full coverage?
  • Does my policy cover me when driving someone else’s vehicle?
  • Should I waive the damage coverage when renting a car?
  • Can I afford to buy a different vehicle if my 2016 Tesla Model X is totaled?
  • Do I have coverage when using my vehicle for my home business?
  • What exactly is covered by my policy?

If you don’t know the answers to these questions then you might want to talk to an agent. To find lower rates from a local agent, complete this form. It’s fast, free and may give you better protection.

Is there deception in advertising?

Consumers can’t get away from ads for car insurance savings from the likes of Allstate, GEICO and Progressive. They all seem to make an identical promise that you’ll save big if you move your coverage to them.

How does each company make the same claim? It’s all in the numbers.

Different companies have a preferred profile for the right customer that earns them a profit. An example of a profitable customer could possibly be between the ages of 40 and 55, has no prior claims, and has great credit. Any new insured who matches those parameters receives the best rates and as a result will probably save when they switch companies.

Potential customers who fall outside the requirements will be charged more money and this can result in the customer not buying. The ads say “customers that switch” not “people who quote” save that much money. This is how insurance companies can make those claims. That is why drivers must compare many company’s rates. It is impossible to predict which auto insurance company will give you the biggest savings on Tesla Model X insurance.

Car insurance coverage considerations

Understanding the coverages of your car insurance policy can help you determine appropriate coverage and proper limits and deductibles. Policy terminology can be confusing and even agents have difficulty translating policy wording.

Liability coverages – Liability coverage will cover damage or injury you incur to other people or property that is your fault. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 25/50/25 which means a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.

Liability insurance covers claims like repair bills for other people’s vehicles, legal defense fees and medical expenses. How much coverage you buy is up to you, but buy as large an amount as possible.

Medical expense coverage – Coverage for medical payments and/or PIP pay for short-term medical expenses for things like prosthetic devices, ambulance fees and chiropractic care. They are used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants as well as getting struck while a pedestrian. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage

Comprehensive protection – Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as damage from getting keyed, fire damage and damage from flooding. The maximum payout a car insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Tesla Model X.

Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea.

Collision – Collision coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.

Collision insurance covers things like hitting a parking meter, crashing into a building and crashing into a ditch. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. You can also increase the deductible to bring the cost down.

Knowledge is power

Consumers change insurance companies for a number of reasons such as unfair underwriting practices, not issuing a premium refund, poor customer service or delays in paying claims. Regardless of your reason for switching companies, finding the right insurance provider can be easier than you think.

We just covered many ideas to save on 2016 Tesla Model X insurance. The most important thing to understand is the more you quote, the better your chances of lowering your rates. You may be surprised to find that the lowest rates come from some of the smallest insurance companies.

As you prepare to switch companies, do not buy lower coverage limits just to save a few bucks. Too many times, drivers have reduced physical damage coverage and discovered at claim time that the savings was not a smart move. Your goal should be to get the best coverage possible at an affordable rate, not the least amount of coverage.

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