Lower Your 2008 Tesla Roadster Car Insurance Cost

Do you get exhausted from wondering where the money will come from to buy insurance coverage? You are no different than the majority of other consumers.

Popular companies such as Progressive, GEICO and Farmers Insurance constantly blast consumers with ads and it is challenging if not impossible to ignore the propoganda and take the time to shop coverage around.

If you currently have a car insurance policy, you should be able to cut costs considerably using these techniques. Choosing the best insurance company for you is easy if you know what you’re doing. But consumers should learn how companies determine prices and take advantage of how the system works.

Lower rates by qualifying for discounts

Insuring your fleet can be pricey, but you might find some hidden discounts to help offset the cost. Most are applied when you complete an application, but a few must be manually applied before you get the savings.

  • Bundle and Save – If you can combine your auto and home policy with one company you may earn approximately 10% to 15%.
  • Responsible Drivers – Drivers who don’t get into accidents can pay as much as 50% less on Roadster coverage than their less cautious counterparts.
  • Student Driver Training – It’s a good idea to have your young drivers complete a driver education course if offered at their school.
  • Student Discounts – Maintaining excellent grades can save 20 to 25%. This discount can apply until age 25.
  • Discount for Passive Restraints – Vehicles equipped with air bags can qualify for discounts of 20% or more.

One thing to note about discounts is that some of the credits will not apply to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. Even though it may seem like you could get a free car insurance policy, you’re out of luck.

A few of the larger companies and a summarized list of policyholder discounts are:

  • State Farm offers discounts for defensive driving training, anti-theft, accident-free, passive restraint, and multiple policy.
  • Progressive includes discounts for good student, multi-policy, online signing, online quote discount, and homeowner.
  • Progressive has discounts for online quote discount, good student, homeowner, online signing, continuous coverage, and multi-vehicle.
  • MetLife offers discounts including claim-free, good driver, defensive driver, good student, multi-policy, and accident-free.
  • Farm Bureau discounts include safe driver, 55 and retired, good student, multi-vehicle, and driver training.
  • GEICO may have discounts that include federal employee, driver training, multi-policy, daytime running lights, multi-vehicle, military active duty, and anti-lock brakes.
  • SAFECO may include discounts for safe driver, bundle discounts, teen safe driver, teen safety rewards, anti-lock brakes, and drive less.

When getting a coverage quote, ask all companies you are considering how you can save money. All car insurance discounts may not be available in your area.

Car insurance is unique, just like you

When it comes to buying coverage, there is no cookie cutter policy. Everyone’s situation is unique and a cookie cutter policy won’t apply. Here are some questions about coverages that may help highlight if your insurance needs would benefit from an agent’s advice.

  • Does medical payments coverage apply to all occupants?
  • What can I do if my company won’t pay a claim?
  • Am I covered if I hit a deer?
  • At what point should I drop full coverage?
  • I have good health insurance, so how much medical payments coverage do I need?
  • If I drive on a suspended license am I covered?
  • What companies insure drivers after a DUI or DWI?
  • Is my 2008 Tesla Roadster covered for flood damage?
  • Can I afford to pay high deductible claims out of pocket?
  • Should I rate my 2008 Tesla Roadster as pleasure use or commute?

If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to a licensed agent. If you don’t have a local agent, complete this form or you can also visit this page to select a carrier

Specific coverage details

Understanding the coverages of insurance can be of help when determining which coverages you need and the correct deductibles and limits. Insurance terms can be ambiguous and coverage can change by endorsement. These are the normal coverages found on the average insurance policy.

Comprehensive insurance

Comprehensive insurance coverage pays for damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers claims like hail damage, falling objects, rock chips in glass and a broken windshield. The maximum amount a insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP provide coverage for immediate expenses for hospital visits, pain medications, funeral costs, dental work and nursing services. They are often used in conjunction with a health insurance plan or if you lack health insurance entirely. They cover all vehicle occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage

Liability coverages

This coverage protects you from damage that occurs to people or other property that is your fault. It protects you against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 25/50/25 which means a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery.

Liability coverage protects against things such as bail bonds, loss of income, legal defense fees and attorney fees. How much coverage you buy is your choice, but you should buy as much as you can afford.

Uninsured/Underinsured Motorist (UM/UIM)

This protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Collision coverage

This coverage will pay to fix damage to your Roadster from colliding with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like scraping a guard rail, sustaining damage from a pot hole, crashing into a building and colliding with another moving vehicle. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. You can also raise the deductible in order to get cheaper collision rates.

Be a penny pincher

As you restructure your insurance plan, do not skimp on coverage in order to save money. In many instances, an insured dropped liability coverage limits and found out when filing a claim that the small savings ended up costing them much more. The proper strategy is to get the best coverage possible at the best possible price while not skimping on critical coverages.

You just learned a lot of ways to reduce 2008 Tesla Roadster insurance prices online. The key concept to understand is the more you quote auto insurance, the better likelihood of getting the cheapest auto insurance. Consumers could even find that the best prices are with the least-expected company. Some small companies often have lower rates on specific markets compared to the large companies like Allstate or State Farm.

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