Cheapest 2013 Tesla Model S Insurance Rates in 2023
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UPDATED: Aug 23, 2022
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Searching for cheaper car insurance rates for your Tesla Model S? No one in their right mind likes having to buy car insurance, in particular when their premiums are too high. You have multiple car insurance companies to pick from, and even though it’s nice to have multiple companies, so many choices can make it hard to adequately compare rates.
This information will instruct you on the best way to quote coverages and some tricks to saving. If you are paying for car insurance now, you should be able to save some money using this strategy. Drivers only need an understanding of the tricks to shop online.
Compare Insurance Coverage Today
Getting a cheaper price on 2013 Tesla Model S insurance can be surprisingly simple. You just have to spend a few minutes getting comparison quotes provided by online insurance companies. This is very easy and can be done in a couple of different ways.
The easiest and least time consuming way to get quotes for comparison is an all-inclusive rate comparison click here to open form in new window. This type of form prevents you from having to do multiple quote forms for each company. One simple form will return quotes from insurance coverage companies with the best prices.
A slightly less efficient method to obtain and compare quotes online consists of going to each individual company website to request a price quote. For instance, we’ll pretend you want rates from Nationwide, GEICO and GMAC. You would have to take the time to go to each site and enter your information, which is why the first method is more popular. For a list of links to insurance companies in your area, click here.
The most time-consuming method to compare rates is to waste gas driving to insurance agents’ offices. Shopping for insurance coverage online can eliminate the need for a local agent unless you want the professional advice of a local agent. Drivers can price shop online and still use a local agent and we’ll cover that in a bit.
It’s up to you how you get prices quotes, just make darn sure you compare exactly the same coverage information with every price quote. If you compare mixed coverages you can’t possibly make an equal comparison.
Cut prices on 2013 Tesla Model S insurance
Properly insuring your vehicles can get expensive, but discounts can save money and there are some available that you may not even be aware of. A few discounts will automatically apply when you get a quote, but a few must be requested specifically before you get the savings. If you’re not getting every credit available, you are paying more than you should be.
- Anti-theft System – Anti-theft and alarm systems are stolen less frequently and qualify for as much as a 10% discount.
- Passive Restraints and Air Bags – Factory air bags or motorized seat belts may earn rate discounts of 20% or more.
- Paperless Signup – A few companies may give you up to $50 for buying a policy and signing up digitally online.
- Drive Safe and Save – Insureds without accidents can get discounts for up to 45% lower rates for Model S insurance than drivers with accident claims.
- Accident Forgiveness – Some insurance companies will forgive one accident before your rates go up if you are claim-free for a certain period of time.
- Drivers Ed for Students – Have your child take driver’s ed class in school.
- Drive Less and Save – Driving fewer miles can qualify you for discounted rates on garaged vehicles.
- Resident Student – Youth drivers who are attending college without a vehicle on campus can be insured at a reduced rate.
It’s important to understand that many deductions do not apply the whole policy. Some only apply to specific coverage prices like physical damage coverage or medical payments. So even though it sounds like having all the discounts means you get insurance for free, you won’t be that lucky. But any discount will help reduce the amount you have to pay.
Car insurance companies who might offer these money-saving discounts are:
Before buying, ask each company which discounts you may be entitled to. All car insurance discounts may not apply in your area.
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Tailor your coverage to you
When choosing the right insurance coverage for your personal vehicles, there really is no perfect coverage plan. Everyone’s situation is unique and your policy should reflect that. For example, these questions can aid in determining if your situation would benefit from professional advice.
- If my pet gets injured in an accident are they covered?
- Can my babysitter drive my car?
- Is other people’s property covered if stolen from my vehicle?
- Do I have coverage for damage caused while driving under the influence?
- How can I find cheaper teen driver insurance?
- Am I covered if I crash into my own garage door?
- Does my insurance cover a custom paint job?
- Can I pay claims out-of-pocket if I buy high deductibles?
- Do I need PIP coverage since I have good health insurance?
- Will I lose any money if I cancel my policy before it expires?
If you can’t answer these questions then you might want to talk to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form or you can go here for a list of companies in your area. It’s fast, free and can provide invaluable advice.
Tesla Model S rate determination is complex
Consumers need to have an understanding of the different types of things that help determine the rates you pay for car insurance. When you know what positively or negatively determines base rates enables informed choices that could result in lower car insurance prices.
The following are some of the factors car insurance companies consider when setting premiums.
- Allowing your policy to lapse raises rates – Allowing your coverage to lapse will be a fast way to bump up your car insurance costs. Not only will rates go up, getting caught without coverage may earn you a license revocation or jail time.
- Your car’s features help determine rates – Choosing a vehicle with a theft deterrent system can help lower your rates. Anti-theft features like GM’s OnStar, tamper alarm systems and vehicle immobilizers can thwart your vehicle from being stolen.
- Safer occupants lowers premiums – Vehicles with good safety scores are cheaper to insure. These vehicles result in less severe injuries and any reduction in injury severity means lower claim amounts passed on to you as lower rates. If your Tesla Model S scored better than four stars on Safercar.gov or an “acceptable” rating on iihs.org it may be receiving lower rates.
- Males pay more for insurance – The statistics show that men are more aggressive behind the wheel. That doesn’t necessarily mean that men are WORSE drivers than women. Both sexes have accidents at about the same rate, but the men cause more damage. Men also statistically get cited for more serious violations like DUI and reckless driving. Teenage male drivers are the most expensive to insure and therefore have the most expensive car insurance rates.
Don’t believe everything you hear
Drivers constantly see and hear ads for cheaper car insurance from companies such as State Farm and Allstate. All the companies make an identical promise that you’ll save big if you move your policy.
How do they all say the same thing?
Insurance companies can use profiling for the driver they prefer to insure. A good example of a driver they prefer could possibly be between 25 and 40, owns a home, and has excellent credit. A driver who fits that profile will get very good rates and most likely will pay quite a bit less when switching companies.
Drivers who do not match this ideal profile must pay a more expensive rate and ends up with the customer not buying. Company advertisements say “customers that switch” not “everybody who quotes” save that much. That’s the way insurance companies can confidently make those claims.
This illustrates why it’s extremely important to compare many company’s rates. It’s just too difficult to predict which insurance companies will give you the biggest savings on Tesla Model S insurance.
Auto insurance coverage breakdown
Knowing the specifics of auto insurance can help you determine the right coverages and the correct deductibles and limits. Policy terminology can be confusing and reading a policy is terribly boring. Listed below are typical coverages found on the average auto insurance policy.
Coverage for medical payments – Med pay and PIP coverage reimburse you for immediate expenses such as dental work, ambulance fees, surgery, nursing services and X-ray expenses. They are often used in conjunction with a health insurance policy or if you lack health insurance entirely. It covers all vehicle occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay
Uninsured and underinsured coverage – This protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your Tesla Model S.
Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family. Frequently the UM/UIM limits do not exceed the liability coverage limits.
Liability insurance – This coverage protects you from injuries or damage you cause to other’s property or people in an accident. This coverage protects you from legal claims by others. Liability doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 100/300/100 that means you have a limit of $100,000 per injured person, $300,000 for the entire accident, and $100,000 of coverage for damaged property. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount without having the split limit caps.
Liability coverage protects against claims such as medical expenses, court costs, emergency aid, medical services and legal defense fees. How much liability should you purchase? That is up to you, but you should buy as large an amount as possible.
Comprehensive coverages – This coverage pays for damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive can pay for claims such as a broken windshield, fire damage and damage from getting keyed. The highest amount a auto insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Collision coverage – Collision coverage pays for damage to your Model S from colliding with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims like hitting a parking meter, damaging your car on a curb, backing into a parked car, scraping a guard rail and colliding with a tree. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. Another option is to bump up the deductible to save money on collision insurance.
Shop Smart and Save
As you go through the steps to switch your coverage, don’t be tempted to buy poor coverage just to save money. In too many instances, an accident victim reduced liability limits or collision coverage only to discover later they didn’t purchase enough coverage. Your goal should be to buy enough coverage at an affordable rate while not skimping on critical coverages.
You just read a lot of ways to reduce 2013 Tesla Model S insurance prices online. The most important thing to understand is the more quotes you get, the better your comparison will be. You may even find the biggest savings come from a smaller regional carrier. Some small companies may only write in your state and offer lower rates compared to the large companies like Progressive or GEICO.
More tips and info about insurance coverage can be found in the articles below:
- Coverage Information (Progressive Insurance)
- Comprehensive Coverage (Liberty Mutual)
- Distracted Driving Extends Beyond Texting (State Farm)
- Choosing an Insurance Company (Insurance Information Insitute)
- Understanding Rental Car Insurance (Insurance Information Insitute)
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