2016 Tesla Model X Insurance Cost

Want cheaper auto insurance rates? Drivers have options when trying to find affordable Tesla Model X insurance. You can either waste hours calling around getting price quotes or leverage the internet to compare rates. There is a right way and a wrong way to shop for auto insurance and you need to know the proper way to quote coverages on a Tesla and get the cheapest rates.

Discount insurance coverage quotes

Some insurers do not advertise the complete list of policy discounts very well, so we break down some of the more common and also the lesser-known discounts you could be receiving when you buy insurance coverage online.

  • Discount for Good Grades – Excelling in school may save you up to 25%. You can use this discount normally well after school through age 25.
  • Low Mileage Discounts – Fewer annual miles on your Tesla may allow you to get better rates on cars that stay parked.
  • Discount for Passive Restraints – Cars that have air bags may qualify for discounts of more than 20%.
  • Driver Safety – Completing a defensive driving class could save 5% or more and easily pay for the cost of the class.
  • Government Employee Discount – Having worked for a branch of the government can earn a discount up to 10% on Model X coverage depending on your insurance coverage provider.
  • Pay Early and Save – If you pay your entire premium ahead of time rather than spreading payments over time you could save up to 5%.
  • Braking Control Discount – Cars and trucks that have anti-lock braking systems are much safer to drive and therefore earn up to a 10% discount.
  • Save over 55 – Mature drivers can get lower premium rates on Model X coverage.
  • Organization Discounts – Participating in a qualifying organization could qualify you for a break on your next renewal.

Drivers should understand that some of the credits will not apply to the entire policy premium. A few only apply to the cost of specific coverages such as physical damage coverage or medical payments. Just because you may think having all the discounts means you get insurance for free, companies wouldn’t make money that way.

Companies and their possible discounts can be read below.

  • State Farm offers premium reductions for Drive Safe & Save, defensive driving training, safe vehicle, student away at school, and anti-theft.
  • American Family may have discounts that include air bags, mySafetyValet, good driver, bundled insurance, Steer into Savings, and good student.
  • AAA offers discounts for AAA membership discount, education and occupation, pay-in-full, good student, anti-theft, multi-car, and multi-policy.
  • GEICO discounts include anti-lock brakes, emergency military deployment, anti-theft, federal employee, and military active duty.
  • Mercury Insurance offers discounts including low natural disaster claims, annual mileage, accident-free, location of vehicle, good driver, type of vehicle, and anti-theft.
  • Farmers Insurance may offer discounts for bundle discounts, business and professional, switch companies, mature driver, electronic funds transfer, and alternative fuel.
  • Progressive has discounts for good student, continuous coverage, multi-policy, online signing, online quote discount, multi-vehicle, and homeowner.

Check with each insurance company to apply every possible discount. All car insurance discounts may not apply in your area. To find insurance companies with discount insurance coverage rates, follow this link.

The Tesla Model X insurance rate equation

Part of the car insurance buying process is learning a few of the rating criteria that go into determining car insurance rates. If you have a feel for what determines base rates, this allows you to make good choices that could result in cheaper rates. Multiple criteria are taken into consideration when pricing auto insurance. Some are pretty understandable like your driving record, although others are less apparent like your vehicle usage or how safe your car is.

The list below includes most of the major factors companies use to determine your rate level.

  • Do you work long hours in a stressful occupation? – Occupations like fire fightersairline pilots and dentists generally pay higher rates than the rest of us due to intense work-related stress and incredibly demanding work hours. Other occupations such as scientists, historians and retirees get better rates on Model X coverage.
  • Eliminate unneeded add-on coverages – Policies have additional coverages that may not really be needed on your Model X policy. Insurance for rental car reimbursement, better glass coverage, and term life insurance are probably not needed. They may seem like a good idea when discussing your needs, but your money might be better spent on other coverage so eliminate them to save money.
  • Pay less if you’re married – Being married can get you a discount compared to being single. It may mean you are more mature and responsible and insurance companies reward insureds because married couples file fewer claims.
  • Liability claims can be big – A critical coverage on your policy, liability insurance kicks in when a court rules you are at fault for an accident. This coverage provides for a legal defense to defend your case. Liability is cheap compared to physical damage coverage, so drivers should carry high limits.
  • An active claims history can cost you more – Car insurance companies provide discounts to drivers who are not frequent claim filers. If you are the type of insured that files lots of claims you can look forward to either policy cancellation or increased premiums. Your car insurance is meant to be used in the event of major claims that would cause financial hardship.
  • Low deductibles mean high prices – Physical damage insurance, also called ‘full coverage’, covers your vehicle from damage. Some coverage claims are a windshield shattered by a rock, hitting a deer, or theft. Your deductibles state the amount of money you are willing to pay out-of-pocket in the event of a claim. The higher the amount you have to pay, the lower your rates will be on Model X coverage.
  • Your credit rating is important – A driver’s credit history is a big factor in determining what you pay for car insurance. If your credit history could use some work, you may save money insuring your 2016 Tesla Model X if you clean up your credit. Insureds that have excellent credit tend to be less risk to insure than drivers who have lower credit scores.

Tailor your insurance coverage coverage to you

When choosing the right insurance coverage for your personal vehicles, there is no “best” method to buy coverage. Each situation is unique.

For example, these questions may help highlight if your insurance needs might need professional guidance.

  • Where can I find DUI or SR-22 insurance?
  • Am I covered if I break a side mirror?
  • What is UM/UIM insurance?
  • Are rock chip repairs covered?
  • Do I really need UM/UIM coverage?
  • Is extra glass coverage worth it?
  • Do I pay less if my vehicle is kept in my garage?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form. It’s fast, doesn’t cost anything and you can get the answers you need.

Auto insurance coverages 101

Knowing the specifics of auto insurance can help you determine appropriate coverage and the correct deductibles and limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording.

Comprehensive protection

This covers damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers things such as vandalism, hitting a deer and hail damage. The maximum amount a auto insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.

Collision coverage

This coverage pays to fix your vehicle from damage from colliding with another car or object. You first must pay a deductible and then insurance will cover the remainder.

Collision can pay for things like colliding with another moving vehicle, damaging your car on a curb, driving through your garage door, hitting a parking meter and colliding with a tree. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. You can also increase the deductible to get cheaper collision coverage.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. Covered losses include injuries to you and your family and damage to your Tesla Model X.

Since a lot of drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea.

Liability insurance

Liability insurance can cover damage that occurs to other’s property or people. It protects YOU against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 50/100/50 which means $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000.

Liability coverage pays for things like medical services, pain and suffering, repair costs for stationary objects and court costs. How much liability should you purchase? That is a decision to put some thought into, but buy as large an amount as possible.

Medical expense coverage

Med pay and PIP coverage provide coverage for immediate expenses for things like prosthetic devices, nursing services, ambulance fees and rehabilitation expenses. They are often used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. They cover both the driver and occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is not universally available and may carry a deductible

Don’t break the bank

Insureds change insurance companies for a variety of reasons including questionable increases in premium, extreme rates for teen drivers, denial of a claim or not issuing a premium refund. Regardless of your reason for switching companies, finding a great new company can be easy and end up saving you some money.

When searching for cheaper insurance coverage quotes, it’s a bad idea to buy poor coverage just to save money. There are too many instances where drivers have reduced collision coverage only to discover later they didn’t have enough coverage. Your goal should be to buy a smart amount of coverage at a price you can afford, not the least amount of coverage.

Throughout this article, we presented quite a bit of information on how to compare 2016 Tesla Model X insurance prices online. The key concept to understand is the more times you quote, the higher the chance of saving money. Consumers could even find that the biggest savings come from the smaller companies.

Additional detailed information can be read by following these links:

Comments About 2016 Tesla Model X Insurance

  1. Mayme Warner

    I’m in Tulsa, OK, and Allstate rates were affordable. Insured with Progressive before. I have kids on my policy, too.

  2. Francisco Le

    Will 21st Century cancel my policy for a liability claim?

  3. Natividad Yang

    Got a quote with Farmers for my Tesla and saved about $560 a year. Got better coverage too. Not sure about claim service.

  4. Kraig Dejesus

    21st Century is decent in Fort Smith, AR.

  5. Erick Austin

    Compared rates with GEICO and AAA but still pricey.

  6. Josue Koch

    Like your site, BTW. From south side of New Orleans, LA. Compared rates from a lot of places. Saved right around $60 a month. 21st Century was the cheapest option for me.

  7. Rolande Martin

    Any GEICO or Encompass customers near Charleston, West Virginia?

  8. Annalee Santana

    Found cheapest coverage with Esurance for my 2016 Tesla Model X and saved about $260 a year. Thankfully I’m not a high risk driver. God forbid I actually have a claim.

  9. Erica Knapp

    Quoted with American Family for my Tesla and am saving around $270 a year. It’s easy to compare rates online now.

  10. Maida Waller

    Lots of useful info here. I live on the north side of Seattle, WA. I quoted with Mercury, Esurance, Progressive, and Amica for my Model X and saved just over $450 a year. Left Mercury to switch. Good savings if you bundle. :)