Compare 2018 Tesla Model X Car Insurance Cost

Looking for the cheapest car insurance rates for your Tesla Model X? Are you drained from scraping nickels together to buy car insurance? You are no different than the majority of other drivers.

There are many auto insurance companies to buy insurance from, and even though it’s nice to have a choice, it can be more difficult to get the best deal.

Consumers should take time to do price comparisons periodically because car insurance prices change frequently. Despite the fact that you may have had the best deal for Model X insurance last year you may be paying too much now. There is too much inaccurate information about car insurance on the web, but you can learn a lot of great tips on how to reduce your car insurance bill.

How do insurance companies determine Tesla Model X insurance costs?

Lots of factors are part of the equation when quoting car insurance. Some of the criteria are obvious such as traffic violations, but others are not as apparent such as whether you are married or your vehicle rating.

Listed below are just a few of the factors that factor into premiums.

  • Improve your credit history – A driver’s credit score can be an important factor in calculating your premium rate. If your credit rating could use some work, you may save money insuring your 2018 Tesla Model X by spending a little time repairing your credit. Insureds that have very high credit ratings tend to file fewer claims and have better driving records than drivers with worse credit.
  • Discounts for auto and home policies – Some insurers allow lower prices for people that buy multiple policies, otherwise known as a multi-policy discount. The discount can be ten or even fifteen percent. Even with this discount, you still need to compare other insurance prices to confirm you are receiving the best rates possible. You may still save even more by splitting coverages up.
  • Married drivers get cheaper costs – Your spouse can actually save you money when buying car insurance. It translates into being more mature and responsible and it’s proven that drivers who are married file infrequent claims.
  • Liability protection risk factors in – Your policy’s liability coverage will protect you when you are ruled to be at fault for personal injury or accident damage. It will provide legal defense coverage to attempt to prove you were not liable. This coverage is very inexpensive as compared to coverage for physical damage, so do not skimp.
  • Lower premiums for safer vehicles – Vehicles that have high safety ratings tend to have better insurance rates. Vehicles engineered for safety have better occupant injury protection and any reduction in injury severity translates into savings for insurance companies and thus lower rates. If the Tesla Model X has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may be receiving a better rate.

How much is car insurance?

There are several ways you can shop for car insurance and some are less time-consuming than others. You can waste a lot of time talking to local insurance agents in your area, or you could save time and use the web to get prices fast.

Most car insurance companies participate in a marketplace where prospective buyers submit one quote, and each participating company returns a competitive quote based on that information. This prevents consumers from doing quotation requests to each company. To use this form to compare rates click here (opens in new window).

The single downside to comparing rates this way is you are unable to specify which carriers to get pricing from. If you wish to select individual companies to compare rates, we have a page of companies who write car insurance in your area. Click here to view list.

Take whichever approach you prefer, but be certain you are entering exactly the same deductibles and coverage limits on every quote. If you compare unequal deductibles or liability limits it will be next to impossible to get a fair rate comparison. Just a small difference in insurance coverages could mean much higher rates. Just keep in mind that comparing a large number of companies gives you a better chance of getting the best price. Not every company provides online rate quotes, so it’s important to also get rates from them as well.

Do you really save 40% when you switch?

Well-known auto insurance companies like State Farm and Allstate continually stream television, radio, and online ads. They all try to convey promises that people will save if you just switch your auto insurance coverage to their company. How can each company sell you cheaper insurance coverage? It’s all in the numbers.

Auto insurance companies have underwriting criteria for the driver that earns them the highest profit. For example, a profitable insured may need to be between 25 and 40, has never had a claim, and insures a new vehicle. A customer getting a price quote who fits that profile will get the preferred prices and is almost guaranteed to save when they switch companies.

Insureds who cannot meet this ideal profile may be forced to pay higher prices and this can result in business going elsewhere. The trick companies use is to say “customers who switch” not “everyone that quotes” save that kind of money. That’s the way insurance companies can advertise the way they do.

Because of these techniques, you absolutely need to compare free car insurance quotes often. It is impossible to predict which insurance companies will give you lower premium rates than your current company.

Car insurance policy discounts

Not too many consumers would say car insurance is affordable, but you might find some hidden discounts that may help make it more affordable. Some of these disounts will be visible when you get a quote, but occassionally some discounts must be requested specifically prior to getting the savings. If you do not check that you are getting every discount you deserve, you are paying more than you should be.

  • Passive Restraints and Air Bags – Factory air bags or motorized seat belts may get savings up to 30%.
  • One Accident Forgiven – This one is not really a discount per se, but companies like Progressive, Allstate, and GEICO will turn a blind eye to one accident without getting socked with a rate hike as long as you don’t have any claims prior to the accident.
  • Policy Bundle Discount – If you can bundle your auto and home insurance with the same company they may give you a discount of up to 20% off your total premium.
  • Defensive Driving Course – Successfully completing a driver safety course could cut 5% off your bill and easily pay for the cost of the class.
  • Paperless Signup – Some insurance companies will provide an incentive for signing up online.
  • Savings for New Vehicles – Buying a new car model can be considerably cheaper compared to insuring an older model.
  • Renewal Discounts – Some car insurance companies give discounts for signing up early. You can save around 10% with this discount.
  • ABS Brakes – Cars that have steering control and anti-lock brakes are safer to drive and qualify for as much as a 10% discount.
  • Onboard Data Collection – Drivers that enable their car insurance company to analyze vehicle usage by using a telematic data system such as Progressive’s Snapshot could see a rate decrease if they are good drivers.

One last thing about discounts, most credits do not apply to all coverage premiums. A few only apply to specific coverage prices like comp or med pay. So despite the fact that it appears you would end up receiving a 100% discount, you won’t be that lucky.

Large car insurance companies and a summarized list of policyholder discounts are detailed below.

  • State Farm has savings for passive restraint, accident-free, anti-theft, Drive Safe & Save, and safe vehicle.
  • Farmers Insurance policyholders can earn discounts including multi-car, teen driver, electronic funds transfer, alternative fuel, good student, pay in full, and early shopping.
  • GEICO offers premium reductions for daytime running lights, air bags, military active duty, multi-vehicle, and multi-policy.
  • American Family offers discounts including multi-vehicle, Steer into Savings, defensive driver, good student, and bundled insurance.
  • Nationwide has discounts for anti-theft, business or organization, defensive driving, multi-policy, easy pay, and accident-free.
  • Progressive may include discounts for homeowner, good student, multi-vehicle, multi-policy, and online quote discount.

If you need inexpensive car insurance quotes, ask each company which discounts you qualify for. All car insurance discounts may not apply to policies in your area.

How do I know if I need professional advice?

When it comes to buying the right insurance coverage for your vehicles, there isn’t really a one size fits all plan. Every situation is different and a cookie cutter policy won’t apply. These are some specific questions can help discover if you will benefit from professional help.

  • What discounts do I qualify for?
  • Will my vehicle be repaired with OEM or aftermarket parts?
  • Do I need rental car coverage?
  • What can I do if my company denied a claim?
  • Is my dog or cat covered if injured in an accident?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • How much liability do I need to cover my assets?
  • Do I really need UM/UIM coverage?
  • Is a new car covered when I drive it off the dealer lot?

If you don’t know the answers to these questions but you know they apply to you, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area.

Insurance coverages 101

Having a good grasp of your insurance policy helps when choosing appropriate coverage and proper limits and deductibles. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Shown next are typical coverages found on the average insurance policy.

Medical expense coverage

Coverage for medical payments and/or PIP pay for short-term medical expenses such as X-ray expenses, doctor visits, nursing services, chiropractic care and funeral costs. They can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not universally available and may carry a deductible

Uninsured or underinsured coverage

This gives you protection when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family and also any damage incurred to your Tesla Model X.

Since many drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important. Most of the time these coverages are set the same as your liablity limits.

Coverage for collisions

This will pay to fix damage to your Model X caused by collision with an object or car. You first must pay a deductible then your collision coverage will kick in.

Collision coverage pays for things like backing into a parked car, sustaining damage from a pot hole, damaging your car on a curb and hitting a mailbox. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to raise the deductible to save money on collision insurance.

Comprehensive protection

This pays for damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things like a broken windshield, falling objects, theft, damage from a tornado or hurricane and fire damage. The most a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Liability

Liability coverage protects you from damage or injury you incur to people or other property that is your fault. It protects you against other people’s claims. It does not cover damage sustained by your vehicle in an accident.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 50/100/50 which means a $50,000 limit per person for injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Some companies may use one number which is a combined single limit that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability insurance covers claims such as repair bills for other people’s vehicles, medical expenses, funeral expenses, attorney fees and legal defense fees. How much coverage you buy is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

A penny saved is a penny earned

When searching for affordable car insurance quotes, it’s very important that you do not reduce coverage to reduce premium. There are many occasions where consumers will sacrifice collision coverage to discover at claim time that it was a big error on their part. Your focus should be to purchase plenty of coverage at a price you can afford while still protecting your assets.

We just covered a lot of tips how to save on 2018 Tesla Model X insurance. The key thing to remember is the more providers you compare, the better likelihood of getting cheap car insurance. You may be surprised to find that the lowest prices come from some of the lesser-known companies. Regional companies can often insure niche markets at a lower cost compared to the large companies like Allstate and Progressive.

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