Wow, insuring a Tesla is outrageous!

  • Thread starter Thread starter Mark W
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Mark W

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My 23 year old son was ready to buy a 2019 Tesla Model 3 from someone. When he went to get an insurance quote, that sunk the deal. He was going to have to pay $187 (over 30%) per month more for the Model 3 than for a 2021 Mach-e. He is now looking for a Mach-e.

I wonder if this factor is enough to hurt sales of new Teslas? I had always heard that it cost more to insure a Tesla, but I was thinking maybe 10% more. 30% more is just not worth it.
 
You’ve got to watch out for “gotcha“ quotes also.
A company may offer you a 5-6 month really reasonable monthly premium only to jack it up the next 6 months for no reason just to switch insurance companies.
 
Mark W said:
My 23 year old son was ready to buy a 2019 Tesla Model 3 from someone. When he went to get an insurance quote, that sunk the deal. He was going to have to pay $187 (over 30%) per month more for the Model 3 than for a 2021 Mach-e. He is now looking for a Mach-e.
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There is a good reason why Tesla started their own insurance offerings. Sad to say, it hasn't reached my state, Alabama. But the fuel savings are so great, I can afford it. What is his current, monthly fuel bill?

With my Tesla, it dropped to 1/3d of the previous Prius that I traded in. Now I just carry liability and a retired engineer, do my own maintenance.

Bob Wilson
 
Whichever car you get, I would shop around for insurance before you actually buy it. Get several quotes on each one. If one out of five quotes seems too good to be true, there's a good chance it is. When I got my Kona EV, my insurance went up from what it was on my prior car, a 6 year old Honda CR-Z hybrid, but the increase seem wildly out of line given that the car was worth a lot more. Your son's age is undoubtedly not helping things.
 
It was just the Tesla that was so high. We got quotes for a Mach e and a Ioniq Electric and they were about the same. He wound up getting a Mach e. He's very happy with it, and I'm impressed with it.
 
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