Cheaper 2012 Tesla Model S Car Insurance Rates

Did you fall for a flashy sales pitch and buy an underperforming, overpriced auto insurance policy? Believe me, there are lots of people in the same boat. Having so many companies to choose from, it is hard for the average consumer to choose the best company.

It’s a great practice to compare prices before your policy renews since insurance rates go up and down regularly. Despite the fact that you may have had the best deal on Model S coverage a year ago you can probably find a lower rate today. Block out anything you think you know about auto insurance because I’m going to let you in on the secrets to one of the quickest ways to properly buy coverages while reducing your premium.

Compare Insurance Costs

Shopping for lower insurance rates can take hours if you don’t utilize the most efficient way. You can spend your afternoon talking about coverages with agents in your area, or you can utilize online quoting to get rate comparisons in just a few minutes.

Many companies participate in an industry program that enables customers to submit their information once, and at least one company can give them a price for coverage. This system prevents you from having to do quote forms for each company you want a rate for.

To compare 2012 Tesla Model S rates using this form now click here to open in new window.

One minor caviat to comparing rates this way is buyers cannot specifically choose the insurers you want to price. If you wish to select from a list of companies for rate comparison, we have a page of the cheapest insurance companies in your area. View list of insurance companies.

Which method you use is up to you, but compare apples-to-apples coverages with every price quote. If you enter mixed coverages you can’t possibly truly determine the lowest rate.

Don’t miss out on these money-saving discounts

Car insurance is not cheap, but there could be available discounts to help offset the cost. Certain discounts will be triggered automatically when you quote, but less common discounts must be manually applied before being credited. If you’re not getting every credit possible, you are throwing money away.

  • Payment Method – If you pay your bill all at once instead of paying each month you could save 5% or more.
  • Good Student Discount – Getting good grades can save 20 to 25%. This discount can apply up until you turn 25.
  • Government Employees – Simply working for the federal government can save as much as 8% on Model S coverage with select insurance companies.
  • Seat Belts Save – Drivers who require all occupants to wear their seat belts could save 15% off your medical payments premium.
  • Multi-policy Discount – If you insure your home and vehicles with one company you may earn at least 10% off all policies.
  • Homeowners Discount – Owning a house may trigger a auto insurance policy discount because owning a home requires personal responsibility.
  • College Student – Children who are attending college and do not have access to a covered vehicle can be insured at a reduced rate.
  • Memberships – Being a member of a qualifying organization may earn a discount on auto insurance on Model S coverage.
  • No Claims – Drivers who don’t have accidents can earn big discounts when compared with frequent claim filers.

It’s important to understand that some of the credits will not apply to the entire policy premium. Most cut the price of certain insurance coverages like collision or personal injury protection. Just because it seems like you can get free auto insurance, it doesn’t quite work that way. But any discount will bring down the amount you have to pay.

Insurance companies that may have these discounts are:

Double check with every prospective company what discounts are available to you. Savings might not apply in every state.

These factors can influence what you pay for Tesla Model S insurance

An important part of buying insurance is that you know the factors that help determine the price you pay for insurance. When you know what positively or negatively impacts premium levels empowers consumers to make smart changes that may reward you with much lower annual insurance costs.

  • Males pay more for insurance – Statistics show that men are more aggressive behind the wheel. However, don’t assume that men are worse drivers. Men and women tend to get into accidents in similar numbers, but the males cause more damage and cost insurance companies more money. They also get more serious tickets such as reckless driving.
  • Being married is a good thing – Having a spouse can actually save you money on your insurance policy. Having a spouse usually means you are more mature it has been statistically shown that drivers who are married are more cautious.
  • Too many insurance claims drive up costs – Companies provide better rates to policyholders who do not rely on their insurance for small claims. If you are a frequent claim filer, you can look forward to either a policy non-renewal or much higher rates. Insurance coverage is designed for the bigger claims that can’t be paid out-of-pocket.
  • Older drivers pay less – Young drivers are known to be less responsible when driving so they pay higher insurance rates. If you’ve ever had to add a young driver onto your insurance can break the bank. More mature drivers tend to be more responsible, tend to file fewer claims and receive fewer citations.
  • Traffic violations increase rates – Good drivers get better rates than their less careful counterparts. Even a single citation can increase rates twenty percent or more. If you have dangerous violations like DWI, reckless driving or hit and run convictions may find they need to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to prevent a license revocation.

Do I need special coverages?

When buying the right insurance coverage for your personal vehicles, there isn’t really a “perfect” insurance plan. Everyone’s situation is a little different and a cookie cutter policy won’t apply. For example, these questions can aid in determining whether or not you might need professional guidance.

  • Does my personal policy cover me when driving out-of-state?
  • What can I do if my company won’t pay a claim?
  • Why am I be forced to buy a membership to get insurance from some companies?
  • Which companies will insure high-risk drivers?
  • Do I pay less for low miles?
  • Am I covered if I wreck a rental car?

If you don’t know the answers to these questions then you might want to talk to an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies. It only takes a few minutes and can help protect your family.

Parts of your insurance policy

Understanding the coverages of your insurance policy helps when choosing the best coverages and proper limits and deductibles. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Shown next are the normal coverages found on most insurance policies.

Collision insurance

This coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers claims such as hitting a mailbox, rolling your car and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. You can also bump up the deductible to save money on collision insurance.

Uninsured/Underinsured Motorist coverage

Your UM/UIM coverage provides protection from other motorists when they do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as damage to your Tesla Model S.

Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Most of the time these limits are set the same as your liablity limits.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses such as prosthetic devices, nursing services, funeral costs and pain medications. They are utilized in addition to your health insurance plan or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage

Liability coverages

This coverage protects you from injuries or damage you cause to people or other property. This coverage protects you against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 50/100/50 that translate to a $50,000 limit per person for injuries, $100,000 for the entire accident, and $50,000 of coverage for damaged propery. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount with no separate limits for injury or property damage.

Liability coverage protects against claims such as repair bills for other people’s vehicles, bail bonds and pain and suffering. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase higher limits if possible.

Comprehensive coverage

Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage protects against things such as a tree branch falling on your vehicle, hitting a bird, hail damage and vandalism. The most you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Make an honest buck

When shopping online for insurance coverage, it’s very important that you do not sacrifice coverage to reduce premiums. In too many instances, an accident victim reduced full coverage and found out when filing a claim that they should have had better coverage. Your strategy should be to buy the best coverage you can find at a price you can afford.

Cheaper 2012 Tesla Model S insurance is possible from both online companies as well as from independent agents, and you should compare price quotes from both so you have a total pricing picture. There are still a few companies who don’t offer online price quotes and most of the time these regional insurance providers sell through independent agents.

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