Best and Cheap Tesla Insurance according to Reddit Users 2022

Tesla Insurance Reddit

We all know that Reddit is a community of remarkable people that share valuable things and information with Internet users. As a Washington headline says, “Who Needs Tesla Analysts When There’s Reddit?” You have a question about Tesla, then Reddit has an answer. In this article, we will talk about Best, and Cheap Tesla Insurance by Reddit users. 

Here’s the Best Tesla Insurance Reddit


Cheap Tesla Insurance

Tesla in 2019 has introduced Tesla Insurance, a competitively priced insurance offering designed to provide Tesla owners with up to 20% lower rates, and in some cases, as much as 30%. Tesla Insurance offers comprehensive coverage and claims management to all the customer. 

According to a Reddit user u/dgcaste, it is the best and cheapest Tesla Insurance on Reddit available in California by the time. He says,

“When I went to purchase my P3D three months ago I got quotes from several different insurance agencies. USAA wanted $240 a month and Geico was about $200. Since I had nothing to lose, I rolled with Tesla’s insurance (only available in CA for now…more on that in a second) and got a quote for $113! I have great coverage on my insurance. That is probably the least I’ve ever paid for a car, and my next most expensive car was half the price of this one. My driving history is pretty clean right now but I’ve had several collisions claims over the last 5-6 years and I have gotten pulled over for speeding probably 7-8 times in that span. Just nothing in the last 2 years or so.”

Source @Imgur Via Reddit

You can read his whole experience with Tesla Insurance on Reddit here

The Points he has made that make Tesla Insurance the Best and cheap for your Tesla car are:-

  • Collision deductible comes down from $500 to $100 at only $12 a month. 
  • Tesla insurance is owned by Tesla but is underwritten by another insurance company.
  • Tesla Repairs happen mostly at service centres but can also occur at 3rd party sites.
  • Tesla is offering such cheap insurance because they don’t have to pay the swindling middleman that’s jacking up the repair quote because it’s going through insurance.

Cons of Tesla Insurance

  1. Tesla insurance policies are currently only available in California.
  2. In Liability coverage, if you are at fault in an accident, costs can be very high.
  3. If you are in an accident where the other car has multiple passengers, it can get costly, as medical expenses are insanely high.
  4. Filling a claim from the Tesla app is hectic as there is no contact information given as such. You need to file a claim from the browser only. 

Why should you opt for Tesla Insurance?

Actually, Some insurers charge a relatively high premium for Tesla cars. One reason is that they still don’t have much historical information about the cost of repairs of electric vehicles. By vertically integrating insurance into its offering, Tesla brings down the price of owning its products.

However, according to Forbes Report, Tesla Insurance is only available in California for now but seeking permission from state regulators to offer coverage in Illinois, Texas, and Washington.


State Farm Tesla Insurance

The second most favourite choice of Reddit users for Tesla Car Insurance Company is State Farm. Apparently, people who are not happy with the Tesla Insurance quote or find it much more, are likely to opt for State Farm. The State Farm provide cheaper insurance cost than the Tesla Insurance. 

A Reddit username reefine who has been voted up 521 times says,

He Has State Farm Insurance currently for his Tesla Car –

  •  He Got quoted $258.89/mo for identical coverage on Tesla Insurance, currently paying $218.33/mo for a Model S with State Farm
  • Got quoted $211.34/mo for identical coverage on Tesla Insurance, currently paying $167.25/mo for a Model 3 with State Farm.

He also mentioned that “he also get an free Glass replacement with State Farm”. A Tesla Windshield is an expensive deal to replace it and can cost you over $1000 easily. 

Tesla insurance State farm
Via Reddit
  • State Farm is famous for its quick claims inspection and payout process.
  • It gives generous discounts, including two programs for safe driving and the other for young drivers.
  • It has personalized customer service.
  • It has a Low Complaint level.
  • State Farm ranked highest in individual insurance customer satisfaction three years in a row in 2014, 2015 and 2016.

Insurance Comparison for Drivers Who Caused an Accident with Injury

Rates are based on liability coverage of 100/300/100 with collision and comprehensive insurance

Cons of State Farm

  • If you have poor credits, then this isn’t the right choice, as Average rates for drivers with poor credit are not competitive. 
  • Must submit personal information to get a quote from State Farm
  • Collision repair professionals aren’t impressed by its claims processes.


Tesla Insurance by Reddit

The third one on our list is Geico, which is a personal favourite of Reddit users when it comes to Tesla. 

A Reddit username asethskyr says Results vary wildly. Liberty Mutual’s quote was five times Geico’s quote for me. I had been with them for around twelve years, so I asked them for a more competitive quote, and it dropped down to four times. Other people have gotten reasonable quotes from them.

I think part of it was that the Tesla Model 3 wasn’t in their preset dropdown, so they rated it like a luxury sports car or something. 

  • Geico Tesla insurance quotes are fairly priced and cheap compared to others.
  • Geico gives Superior rates for drivers even with poor credit
  • Geico is an A++ financial strength rating, its highest possible rating for customer satisfaction.

Car Insurance Comparison for Drivers With Poor Credit

Rates are based on liability coverage of 100/300/100 with collision and comprehensive insurance

Cons of Geico

Geico Tesla Insurance
Via Reddit
  • The most common complaint of Reddit users regarding Geico is that the price suddenly shoots up without warning. 
  • It doesn’t have Tesla Model Y on their Insurance List as per Reddit users. 
  • Relatively high rates for drivers with a DUI conviction
  • Generally not well-regarded by collision repair professionals

Remember, an Insurance quote depends on your age, previous record, city and state. Insurance is a rather complex game, and so you can get anywhere from $40/month to $300/month for the exact same coverage from multiple companies, or it can go even higher.

Shashank is an experienced tech blogger. He has completed his Master in Business Administration but his heart lies in technology & Gadgets. He is basically Creative in Nature and his one of favorite thing is Capturing Nature closely whenever he gets the free time.

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