2014 Tesla Model S Insurance Quotes – 10 Savings Tips

Searching for lower auto insurance rates for your Tesla Model S? Are you a victim of high-priced auto insurance? Believe me, you’re not the only one.

Because there are so many choices, it can be challenging to find the cheapest company.

Smart consumers take time to check auto insurance prices at least once a year because rates are rarely the same from one policy term to another. If you had the best price on Model S coverage a year ago there may be better deals available now. Ignore everything you know about auto insurance because you’re about to learn how to quote online to lower your rates without sacrificing coverage.

Buying the best insurance coverage is simple if you know the tricks. Basically, everyone who is shopping for insurance will more than likely be able to reduce their rates. Nevertheless, drivers do need to learn the way companies price online insurance and use this information to your advantage.

The best way to compare car insurance rates is to know the fact most larger insurance companies allow for online access to give rate comparisons. The one thing you need to do is provide information such as if you have an active license, how much you drive, your general credit rating, and how much coverage you want. That information is then sent to many different companies and you get price estimates immediately.

To find the cheapest Tesla Model S insurance rates, click here and find out if you can get cheaper insurance.

The insurance coverage bait and switch

Insurance coverage companies such as Progressive, Allstate and Geico constantly bombard you with ads on television and other media. They all seem to make the same claim that you can save if you switch your coverage to them. How does each company make almost identical claims? It’s all in the numbers.

Different companies have a certain “appetite” for the type of driver that makes them money. A good example of a driver they prefer could be a mature driver, a clean driving record, and drives less than 10,000 miles a year. A propective insured who matches those parameters will get very good rates and most likely will pay quite a bit less when switching companies.

Potential insureds who do not match these standards will be charged higher prices which leads to the driver buying from a lower-cost company. Company advertisements say “customers that switch” but not “drivers who get quotes” save that much. That’s why insurance companies can confidently make those claims.

That is why drivers should compare as many rates as you can. It is impossible to predict which insurance companies will give you the biggest savings on Tesla Model S insurance.

Save with discounts on Tesla Model S insurance

Insuring your vehicles can cost a lot, but you may find discounts that you may not know about. Some trigger automatically when you get a quote, but less common discounts must be inquired about before you get the savings.

  • Passive Restraints – Factory air bags or motorized seat belts can receive discounts of 20% or more.
  • Student Driver Training – Make teen driver coverage more affordable by requiring them to take driver’s ed class in high school.
  • Accident Waiver – Some insurance companies will forgive one accident before your rates go up if your claims history is clear prior to the accident.
  • Payment Method – If you pay your entire premium ahead of time instead of monthly or quarterly installments you may reduce your total bill.
  • Homeowners Discount – Owning a home may earn you a small savings because owning a home requires personal responsibility.
  • Defensive Driver – Successfully completing a course in driver safety could save 5% or more depending on where you live.
  • 55 and Retired – If you’re over the age of 55, you can possibly qualify for a small decrease in premiums on Model S coverage.
  • Organization Discounts – Being a member of a qualifying organization is a good way to get lower rates when buying car insurance on Model S coverage.
  • Drive Less and Save – Driving fewer miles can earn lower rates on the low mileage vehicles.
  • E-sign – A few companies may give you up to $50 simply for signing online.

It’s important to understand that most credits do not apply to your bottom line cost. Most only cut individual premiums such as physical damage coverage or medical payments. So despite the fact that it appears you would end up receiving a 100% discount, car insurance companies aren’t that generous. But any discount will bring down your overall premium however.

Insurance companies that may offer these money-saving discounts include:

It’s a good idea to ask each insurance company what discounts are available to you. Discounts might not be offered in every state.

Tailor your coverage to you

When choosing the right insurance coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Coverage needs to be tailored to your specific needs so this has to be addressed. For example, these questions might point out if you would benefit from an agent’s advice.

  • Will my rates increase for filing one claim?
  • Which companies will insure high-risk drivers?
  • Can I afford low physical damage deductibles?
  • Am I covered when driving on a suspended license?
  • Can I afford to buy a different vehicle if my 2014 Tesla Model S is totaled?
  • How does medical payments coverage work?
  • Should I have a commercial auto policy?
  • Am I covered when using my vehicle for business?

If you’re not sure about those questions but a few of them apply, you may need to chat with a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area.

Coverages available on your policy

Understanding the coverages of insurance aids in choosing appropriate coverage for your vehicles. The terms used in a policy can be impossible to understand and coverage can change by endorsement. Below you’ll find the normal coverages found on most insurance policies.

Comprehensive insurance

Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things like vandalism, hail damage, rock chips in glass, hitting a deer and falling objects. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Auto liability insurance

This coverage provides protection from damage or injury you incur to a person or their property that is your fault. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 25/50/25 which means $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged propery. Another option is a combined single limit or CSL that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability coverage pays for claims like attorney fees, pain and suffering, structural damage and emergency aid. How much coverage you buy is up to you, but you should buy as much as you can afford.

Coverage for uninsured or underinsured drivers

This coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your 2014 Tesla Model S.

Because many people only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important. Normally the UM/UIM limits are set the same as your liablity limits.

Collision protection

Collision coverage will pay to fix damage to your Model S from colliding with another vehicle or an object, but not an animal. A deductible applies then your collision coverage will kick in.

Collision insurance covers things such as hitting a parking meter, crashing into a ditch, colliding with another moving vehicle, scraping a guard rail and rolling your car. This coverage can be expensive, so consider dropping it from older vehicles. You can also increase the deductible to bring the cost down.

Coverage for medical expenses

Coverage for medical payments and/or PIP reimburse you for bills for dental work, surgery, funeral costs and ambulance fees. They are often used in conjunction with a health insurance plan or if you do not have health coverage. Coverage applies to all vehicle occupants as well as getting struck while a pedestrian. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay

A little work can save a LOT of money

We just presented some good ideas how to shop for 2014 Tesla Model S insurance online. The most important thing to understand is the more providers you compare, the better likelihood of reducing your rate. Consumers could even find that the most savings is with some of the lesser-known companies. Smaller companies can often insure niche markets at a lower cost compared to the large companies like Progressive or Geico.

Low-cost insurance can be sourced on the web as well as from independent agents, and you need to price shop both so you have a total pricing picture. Some companies don’t offer online quoting and these small, regional companies work with independent agents.

As you prepare to switch companies, it’s not a good idea to skimp on coverage in order to save money. There are too many instances where an insured dropped collision coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your aim should be to buy enough coverage at an affordable rate while not skimping on critical coverages.

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