Lower Your 2011 Tesla Roadster Insurance Cost

Consumers have lots of choices when looking for affordable Tesla Roadster insurance. They can either waste time driving around getting price quotes or save time using the internet to find the lowest rates. There are more efficient ways to shop for insurance coverage so you’re going to learn the absolute fastest way to compare rates for your Tesla and locate the best price possible from both online companies and local agents.

Consumers need to compare rates quite often because insurance rates are usually higher with each renewal. Just because you found the best premium rates for Roadster insurance a few years ago you can probably find a better price now. Ignore everything you know about insurance coverage because you’re about to learn the tricks you need to know to lower your rates without sacrificing coverage.

Insurance discounts are available to cut your rates

Insurance is not an enjoyable expense, but you might already qualify for some discounts that may help make it more affordable. Some trigger automatically at the time you complete a quote, but once in a while a discount must be specially asked for prior to getting the savings.

  • Driver’s Ed – Make teen driver coverage more affordable by requiring them to sucessfully take a drivers education course as it can save substantially.
  • Homeowners Savings – Owning your own home or condo can save you money because maintaining a house means you have a higher level of financial diligence.
  • Organization Discounts – Joining a qualifying organization is a simple method to lower premiums on your policy.
  • Discount for Good Grades – Maintaining excellent grades can be rewarded with saving of up to 25%. The discount lasts up until you turn 25.
  • Discounts for Good Drivers – Accident-free drivers can save as much as half off their rates for Roadster insurance compared to rates paid by drivers with frequent claims.
  • Data Collection Discounts – Insureds who allow driving data collection to study driving patterns remotely like Allstate’s Drivewise might get better premium rates if they are good drivers.

Discounts save money, but please remember that most credits do not apply to your bottom line cost. Some only reduce the cost of specific coverages such as collision or personal injury protection. Even though the math looks like you would end up receiving a 100% discount, it’s just not the way it works. But all discounts will definitely lower your policy cost.

A few popular companies and a selection of discounts are included below.

  • Progressive offers premium reductions for good student, homeowner, online quote discount, multi-policy, and online signing.
  • Farmers Insurance offers discounts including good student, electronic funds transfer, alternative fuel, youthful driver, bundle discounts, business and professional, and homeowner.
  • Farm Bureau discounts include safe driver, good student, multi-vehicle, driver training, renewal discount, and multi-policy.
  • State Farm may offer discounts for good driver, good student, Drive Safe & Save, anti-theft, and multiple policy.
  • GEICO has savings for emergency military deployment, seat belt use, anti-theft, air bags, and good student.
  • SAFECO includes discounts for multi-car, homeowner, drive less, safe driver, anti-theft, and bundle discounts.
  • Liberty Mutual policyholders can earn discounts including new move discount, safety features, multi-policy, new vehicle discount, and good student.

When getting free car insurance quotes, it’s a good idea to every insurance company which credits you are entitled to. Some credits may not apply in your area. To find insurers with the best insurance discounts, click this link.

Smart consumers save money

Lots of things are part of the calculation when pricing auto insurance. Some factors are common sense like a motor vehicle report, but some are more transparent such as your credit history or your financial responsibility.

Shown below are some of the major factors insurance companies consider when setting your rate level.

  • Vehicle options that lower insurance rates – Owning a car that has an advanced theft prevention system can save you a little every year. Advanced theft deterrents like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help stop car theft.
  • Rental and towing coverage may not be needed – Insurance companies have many optional add-on coverages that may not really be needed on your Roadster policy. Insurance for things like vanishing deductibles, towing coverage, and additional equipment coverage may be costing you every month. They may sound like good ideas when discussing your needs, but your money might be better spent on other coverage so think about removing them and cutting costs.
  • Drivers with excellent credit save – Credit score factor in calculating your premium rate. If your credit rating is not that good, you could save money insuring your 2011 Tesla Roadster if you clean up your credit. People that have excellent credit scores tend to be less risk to insure than drivers who have poor credit scores.
  • Gaps in coverage mean higher rates – Not having insurance is a big no-no and companies may charge more for letting your coverage have a gap. Not only will you pay higher rates, getting caught without coverage can result in a steep fine or even jail time.
  • Get a ticket, pay higher premiums – A bad driving record can have a huge impact on auto insurance premiums. Having just one speeding ticket or other violation can bump up the cost by twenty percent. Good drivers pay lower auto insurance prices as compared to those with violations. Drivers who have gotten severe violations such as reckless driving or DUI may be required to maintain a SR-22 with the DMV in their state in order to prevent their license from being revoked.

Everyone needs different auto insurance coverages

When it comes to buying adequate coverage, there isn’t really a perfect coverage plan. Every insured’s situation is different.

Here are some questions about coverages that can help discover if your insurance needs could use an agent’s help.

  • Is my dog or cat covered if injured in an accident?
  • Will filing a claim cost me more?
  • How high should my medical payments coverage be?
  • I don’t drive much so do I pay less?
  • Is my camper covered by my car insurance policy?
  • Is other people’s property covered if stolen from my vehicle?
  • Should I bundle my homeowners policy with my auto?
  • Do I have newly-aquired coverage?
  • Is my cargo covered for damage or theft?
  • Why am I required to get a high-risk car insurance policy?

If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to a licensed insurance agent. If you don’t have a local agent, simply complete this short form. It is quick, free and can help protect your family.

Auto insurance coverage information

Learning about specific coverages of your policy helps when choosing the best coverages and proper limits and deductibles. The terms used in a policy can be difficult to understand and coverage can change by endorsement.

Collision coverages – This will pay to fix damage to your Roadster from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against things like sustaining damage from a pot hole, crashing into a building, backing into a parked car, colliding with a tree and colliding with another moving vehicle. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to bump up the deductible to bring the cost down.

Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as your vehicle’s damage.

Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family.

Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance pay for short-term medical expenses such as hospital visits, nursing services, prosthetic devices, doctor visits and X-ray expenses. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. It covers not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. PIP is not an option in every state but can be used in place of medical payments coverage

Liability auto insurance – Liability insurance will cover damages or injuries you inflict on other people or property. It protects you against other people’s claims. It does not cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery.

Liability coverage protects against things such as emergency aid, pain and suffering, funeral expenses, legal defense fees and medical services. How much liability coverage do you need? That is a personal decision, but you should buy as much as you can afford.

Comprehensive insurance – This coverage covers damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like damage from getting keyed, damage from flooding and hitting a bird. The highest amount you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Knowledge is power

In this article, we presented quite a bit of information on how to compare 2011 Tesla Roadster insurance car insurance rates online. The most important thing to understand is the more you quote car insurance, the more likely it is that you will get a better rate. Drivers may discover the lowest car insurance rates come from the least-expected company.

People change insurance companies for any number of reasons including lack of trust in their agent, not issuing a premium refund, unfair underwriting practices or even delays in responding to claim requests. It doesn’t matter why you want to switch finding a new insurance coverage company is less work than it seems.

While you’re price shopping online, never skimp on coverage in order to save money. In many instances, someone sacrificed comprehensive coverage or liability limits and learned later they didn’t purchase enough coverage. Your strategy should be to purchase plenty of coverage at a price you can afford, but don’t skip important coverages to save money.

Much more information about insurance coverage can be found on the following sites:

Comments About 2011 Tesla Roadster Insurance

  1. Devorah Jefferson

    Need cheaper insurance rates for my teenage driver in Salem, Oregon!!

  2. Woodrow Cox

    I think I’m paying too much. I live in Newark, New Jersey. Got rates from MetLife, Esurance, 21st Century, and AIG Insurance for my Tesla and saved $266 a year. Ask about discounts.

  3. Dorsey Hall

    When do I drop full coverage?

  4. Kayce Graham

    I’m in Boston, MA, and 21st Century rates were affordable. BTW speeding tickets are not good. Are quotes cheaper online?

  5. Katerine Winters

    Enjoyed the article. I live just outside Dover, DE. I got free quotes from Allstate, GMAC, and Eastwood for my Tesla and I’m now saving $38 a month.

  6. Nathan Owen

    I’m in the east part of Spokane, WA. I quoted with 21st Century, Auto-Owners, Erie, and Hartford for my Tesla and I think I saved around $30 each month. Have a couple speeding tickets too.

  7. Yun Bradley

    If you’re a decent driver and live near Pittsburgh, Pennsylvania, check out 21st Century. They seem to be cheaper.