Cheaper 2019 Tesla Model S Insurance Cost in 2024

Searching for cheaper insurance rates for your Tesla Model S? If online insurance comparisons are new to you, chances are good that you are bewildered by the large number of companies all promising to save you money.

Locating the best insurance coverage is simple if you know the tricks. In a nutshell, anyone who shops for insurance will most likely be able to reduce their rates. But vehicle owners benefit from understanding how the larger insurance companies determine prices and use this information to your advantage.

Buy insurance coverage online

Shopping for lower insurance coverage rates is a ton of work if you don’t utilize the easiest way. You can waste a few hours (or days) discussing policy coverages with agents in your area, or you can stay home and use online quoting to get rates in a matter of minutes.

Many insurance companies are enrolled in a marketplace where insurance shoppers only type in their quote data once, and at least one company then returns a price quote for coverage. This eliminates the need for quote forms to each individual insurance coverage company.

To compare rates using this form now enter your zip code here.

The only downside to getting quotes like this is you can’t choose which insurance companies to receive prices from. If you wish to select specific providers to compare rates, we have a page of insurance coverage companies in your area. Click to enter zip code.

Take whichever approach you prefer, but ensure you’re using nearly identical coverage information with each company. If your comparisons have mixed coverages then you won’t be able to make a fair rate comparison. Even a minor difference in coverage limits may result in a large different in cost. Just keep in mind that comparing more company’s prices provides better odds of finding lower pricing. Some smaller insurers to not give prices over the internet, so you also need to get price estimates from those companies as well.

Tailor your car insurance coverage to you

When it comes to buying coverage, there really is not a best way to insure your cars. Everyone’s situation is a little different.

For instance, these questions might help in determining whether your personal situation might need professional guidance.

• Am I covered if I drive in a foreign country?
• How can I find cheaper teen driver insurance?
• If my pet gets injured in an accident are they covered?
• Can my teen driver be rated on a liability-only vehicle?
• Is my state a no-fault state?
• Should I file a claim if it’s only slightly more than my deductible?
• Should I carry comprehensive and collision coverage?

If you’re not sure about those questions but you know they apply to you, you may need to chat with an agent. If you don’t have a local agent, take a second and enter your zip code.

Insurance specifics

Understanding the coverages of your insurance policy helps when choosing appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be ambiguous and coverage can change by endorsement.

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage provides protection when other motorists are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your Tesla Model S.

Due to the fact that many drivers 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 should not be overlooked. Most of the time these coverages are identical to your policy’s liability coverage.

Auto collision coverage

Collision insurance pays for damage to your Model S from colliding with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like crashing into a building, damaging your car on a curb, colliding with a tree and colliding with another moving vehicle. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to raise the deductible to bring the cost down.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses like pain medications, funeral costs and X-ray expenses. They are used to fill the gap from your health insurance plan or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Comprehensive insurance

This coverage pays for damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive can pay for things such as rock chips in glass, falling objects and damage from flooding. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.

Liability car insurance

This coverage protects you from damage or injury you incur to people or other property by causing an accident. This insurance protects YOU against other people’s claims. It does not cover your own vehicle damage or injuries.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 25/50/25 that means you have $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property. Another option is a combined limit that pays claims from the same limit without having the split limit caps.

Liability coverage protects against things like court costs, emergency aid, bail bonds, structural damage and medical expenses. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase as large an amount as possible.