EV Insurance Cost - Post your insurance bills to compare?

[demarpaint]

Definitely something I should be doing more often. That's why I started looking last night. Mine happens to be cheaper still, but I don't think I'd checked in 5+ years before this. I had been with State Farm from 16 years old from Illinois to Arizona, around 8 years. When I moved to Nevada the rates were nuts and I switched. I didn't go back to State Farm until I moved to Wisconsin when they happened to be the lowest for me again. I did a lot of shopping around living in Las Vegas. I think I switched every two years for eight years.

I got lazy a few years back, and State Farm got greedy, I had a bundle with them. After some shopping I kept my HO with them and busted the bundle. I gave the cars to The Hartford. I saved a ton, even after busting the bundle. I checked last year in Feb once again, and left everything alone, I couldn't do better. Come renewal I'll be shopping again. I'm kicking around insuring my van with Hagerty as a classic, it would save me a lot of money, but I wouldn't have the umbrella coverage on it. I'm not comfortable with that as is stands now, but I have time to think it over.

 

[PandaBear]

Is that subsidized through Tesla themselves?

I saw in my body shop last time I had to repair a fender bender, that Tesla's body shop hourly cost was about 20% more and they put a sign out to explain why: parts availability and wait time.

Tesla owning their own parts supply can make the cost of ownership cheaper by lowering their insurance parts cost, to make their cars cost of ownership cheaper, and in return having a higher profit margin and stock price.

 

[Torrid]

I got lazy a few years back, and State Farm got greedy, I had a bundle with them. After some shopping I kept my HO with them and busted the bundle. I gave the cars to The Hartford. I saved a ton, even after busting the bundle. I checked last year in Feb once again, and left everything alone, I couldn't do better. Come renewal I'll be shopping again. I'm kicking around insuring my van with Hagerty as a classic, it would save me a lot of money, but I wouldn't have the umbrella coverage on it. I'm not comfortable with that as is stands now, but I have time to think it over.

I had thought of just splitting them up. State Farm is by far cheaper than anyone else for my home. I know that will slightly go up without a bundle, but I'm sure at some point someone will have lower rates on the cars. State Farm burned me in the past and I didn't think I'd go back to them, but when I moved to Wisconsin and they smoked everyone else's rates I went back. That reminded me of why I was with them in the first place. They have local offices everywhere. I personally know my agent again and just swing by when I need something if I don't feel like playing with stuff myself in the app. The app is good too, so to have the tech for pictures and claim submission and also personal service when I want it, it's hard to beat. I even financed my last Ford through them and was able to do that all locally just like if I took a loan from my local bank.

In other words someone's going to have to smoke those rates, because if it only saves me $30 every 6 months, I'm not giving up the service side of things.

I'd love to insure with Hagerty as I've heard nothing but great things from them, but they have no interest in my new fangled toasters.

 

[PandaBear]

I've never checked out Tesla's rates. I doubt they could touch my overall coverage, including the house.

Never make that assumption. I ended up splitting my home and auto insurance to 2 different companies because that ended up cheaper.

 

[alarmguy]

If you tie a house with cars, it gets cheaper, but also it is harder to move.
For example, I could get lower rate on cars compared to State Farm. Problem? Other companies want the % value of the dwelling as deductible when replacing the roof. They moved to this model after a big hail storm in 2016, which totaled 75,000 cars and created a shortage of home windows and roofs. State Farm wants $2,500. We are the hail capital of the US. And YOU WILL replace the roof every 5-10 years.

I have never found timing my house, motorcycle, boat and cars together into one company less expensive. Meaning they showed me all those "discounts" but I was still able to beat them all by signing up with different companies. I change companies on the fly for a better rate.
With that said, just last year we moved to a new state. Still Progressive Car insurance was higher than Costco Connect by a significant margin.
I always used (in recent years) progressive for boat and bike but at one time, Geico was less expensive. And I always found better homeowner rates from another company, on top of that, I always found auto rates better from yet another company.

Now in our new state, last year my builder through Progressive got us a good rate, I already had bike and boat with them ,but as stated they still whacked me on cars. I never insured my cars with them. Now this year, for the first time, they offered me a better rate then anyone else, so as of next month I am with them and canceling Costco connect. All I can say is I always and will continue to do so, check rates with multiple companies at least once a year.

 

[demarpaint]

I had thought of just splitting them up. State Farm is by far cheaper than anyone else for my home. I know that will slightly go up without a bundle, but I'm sure at some point someone will have lower rates on the cars. State Farm burned me in the past and I didn't think I'd go back to them, but when I moved to Wisconsin and they smoked everyone else's rates I went back. That reminded me of why I was with them in the first place. They have local offices everywhere. I personally know my agent again and just swing by when I need something if I don't feel like playing with stuff myself in the app. The app is good too, so to have the tech for pictures and claim submission and also personal service when I want it, it's hard to beat. I even financed my last Ford through them and was able to do that all locally just like if I took a loan from my local bank.

In other words someone's going to have to smoke those rates, because if it only saves me $30 every 6 months, I'm not giving up the service side of things.

I'd love to insure with Hagerty as I've heard nothing but great things from them, but they have no interest in my new fangled toasters.

I hear ya. I wouldn't change companies for a $30/6 month savings either. Mine was substantial almost unbelievable, even after breaking the bundle. My SF agent couldn't believe it so I sent him a copy of the quote. He tried his pitch but knows me and knew he ran the risk of losing the HO too, so he backed off. Here's what I learned over the years, a company that was overpriced one year could be cheaper the next. It's almost like some weird game, so I don't rule anyone out.

 

[ProbeGT]

Never make that assumption. I ended up splitting my home and auto insurance to 2 different companies because that ended up cheaper.

I echo that. Over the last 25 years, keeping auto and home insurance separate has always been less expensive for me than the bundle. I typically get quotes annually. The agents always act surprised. I wonder if the bundles carry a larger commission for agents. Regardless, they are an irrational choice for consumers, in my experience.

 

[alarmguy]

I make it a point now to price shop insurance once a year. With all the storms the past few years rates are rising more than usual, and with insurance companies familiarity breeds contempt imo. Shopping helps keep them honest.

Absolutely and NEVER trust "bundling" discounts. Always price everything separately and then you can always go back to price things as a bundle. For some companies it's a scam, sure you get a discount, a discount off the retail value of the insurance that hardly no one pays.
No different than a so called "Sale" at Macy's *LOL*

 

[Torrid]

I hear ya. I wouldn't change companies for a $30/6 month savings either. Mine was substantial almost unbelievable, even after breaking the bundle. My SF agent couldn't believe it so I sent him a copy of the quote. He tried his pitch but knows me and knew he ran the risk of losing the HO too, so he backed off. Here's what I learned over the years, a company that was overpriced one year could be cheaper the next. It's almost like some weird game, so I don't rule anyone out.

Speaking of that I decided to check Costco insurance just a couple of minutes ago. My total policy for 6 months on the two cars now is $1270. Costco(AmFam) wants $1605 bundled with homeowners or $1739 ala carte. Now I'm starting to get concerned when State Farm makes their adjustment the next time I'm going to take it in the shorts. Either way I'm happy this thread got me to check.

 

[demarpaint]

Speaking of that I decided to check Costco insurance just a couple of minutes ago. My total policy for 6 months on the two cars now is $1270. Costco(AmFam) wants $1605 bundled with homeowners or $1739 ala carte. Now I'm starting to get concerned when State Farm makes their adjustment the next time I'm going to take it in the shorts. Either way I'm happy this thread got me to check.

Great, and I'm glad this thread got you checking. FTR we also had a civil non confrontational EV exchange. Happy times. For now. j/k

 

[Torrid]

Great, and I'm glad this thread got you checking. FTR we also had a civil non confrontational EV exchange. Happy times. For now. j/k

You're alright man, we just vehemently disagree on the best propulsion to move ourselves around. We agree on how to protect them though!

 

[Rmay635703]

That must be nice. What happened when you googled "EV insurance costs" ?

My insurance became ungodly expensive after the state made insurance mandatory, would be nice to get insurance in the $500-$600 annual liability again.

Those are low liability limits imo, and around here too low to carry an umbrella policy. I wouldn't be surprised if that's the same case for other states too.

I’ve been told umbrella policies are illegal or gotten the run around like you can never get one.

One guy I worked with claimed car insurance was stupid and over priced so he had blanket liability on all his dozens of different forms of property and equipment on one policy.

No idea how that worked

 

[PandaBear]

I echo that. Over the last 25 years, keeping auto and home insurance separate has always been less expensive for me than the bundle. I typically get quotes annually. The agents always act surprised. I wonder if the bundles carry a larger commission for agents. Regardless, they are an irrational choice for consumers, in my experience.

I don't think they are intentionally trying to do that, but there are efficiency issue where they target people who are likely lower risk that results in better quote, ONLY IN ONE TYPE OF INSURANCE.

In my case AAA is cheaper for auto and Nationwide / Mercury is cheaper for home.

 

[PandaBear]

My insurance became ungodly expensive after the state made insurance mandatory, would be nice to get insurance in the $500-$600 annual liability again.

I’ve been told umbrella policies are illegal or gotten the run around like you can never get one.

One guy I worked with claimed car insurance was stupid and over priced so he had blanket liability on all his dozens of different forms of property and equipment on one policy.

No idea how that worked

It is only illegal if you have not much assets to be sued for. The smaller guys don't sell much of an umbrella (500K is not a real umbrella IMO). Iffy insurance companies don't sell umbrella, and if you have high networth you want a more reputable insurance company to insure you anyways.

 

[Ws6]

My insurance didn't really change. I pay about $180/mo for my ev6 GT, which is less than my Acura RDX was. It's insured in the state of MO, and I carry state maximum, 0 deductible glass, etc etc etc.

For comparison sake, my mom's Buick, 2005 LeSabre, is insured the same way. It costs me about $90/mo.

 

[Fair enough]

wasn’t meant to post

 

[Sedin26]

2011 Leaf $1100 CAD per year ($787 USD). This includes all possible options such as 3rd Party Liability being maxed out.

The pricing is almost identical to our 2005 CR-V and the 2011 Frontier I sold was $100 more per year.

 

[mikeduf]

2024 Toyota RAV4 hybrid close to 1,500 a year with a high deductible. Total BS! They base it on your zip code.

All insurance companies do this to mitigate their risk.
I am in a high risk area with people that should not be driving but everybody is reckless and could care less.

If this crap with the insurance companies keeps up I'm going to raise my deductible to the highest amount that I can and ride an electric bike.