The recommended way to get affordable Tesla Model S insurance is to start doing a yearly price comparison from insurers in Dallas.
- Take a little time to learn about how insurance companies determine prices and the factors you can control to keep rates down. Many rating factors that cause high rates such as your driving record and a lousy credit rating can be rectified by improving your driving habits or financial responsibility. Keep reading for more information to get low prices and find overlooked discounts.
- Request price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from a single company like GEICO and State Farm, while independent agents can provide price quotes for a wide range of insurance providers.
- Compare the new rate quotes to your existing coverage to see if switching to a new carrier will save money. If you can save some money and buy the policy, ensure there is no coverage lapse between policies.
A good tip to remember is that you’ll want to compare the same amount of coverage on each quote request and and to get price quotes from as many companies as possible. This ensures an apples-to-apples comparison and the most accurate and complete price analysis.
We don’t have to point out that fact that insurance companies want to keep you from shopping around. Consumers who compare rates once a year will probably switch to a new company because there is a significant possibility of finding more affordable rates. A recent auto insurance study discovered that drivers who compared rates regularly saved about $3,400 over four years compared to other drivers who never compared rates.
If finding low prices for Tesla Model S insurance is your goal, then learning about how to compare insurance coverage can make it simple to find affordable coverage.
If you currently have insurance, you will definitely be able to get lower rates using the concepts covered in this article. Pricing cheaper insurance coverage in Dallas is easy to do. But Texas vehicle owners must comprehend the methods companies use to determine how much to charge because rates fluctuate considerably.
When comparison shopping, obtaining a wide range of quotes increases the chance that you will find the best price.
The following companies offer quotes in Dallas, TX. If multiple providers are shown, it’s highly recommended you visit two to three different companies to get the best price comparison.
Discounts can help lower premiums on Tesla Model S insurance in Dallas
Not many people think insurance is cheap, but there’s a good chance there are discounts that may help make it more affordable. Certain discounts will be triggered automatically at the time you complete a quote, but once in a while a discount must be inquired about before being credited. If you’re not getting every credit you deserve, you are paying more than you should be.
- Low Mileage Discounts – Driving fewer miles can earn discounted rates on garaged vehicles.
- Accident-Free Discounts – Dallas drivers who stay claim-free get the best car insurance rates when compared to insureds who have frequent claims or accidents.
- Student Driver Training – Require your teen driver to enroll and complete driver’s education in school.
- Discounts for Federal Employees – Employees or retirees of the government could qualify for a slight premium decrease but check with your company.
- Passenger Safety Discount – Vehicles equipped with air bags or automatic seat belts can receive discounts of 20 to 30 percent.
- Theft Prevention Discount – Vehicles that have factory alarm systems and tracking devices can help prevent theft and can earn a small discount on your policy.
- Student Discounts – Excelling in school can earn a discount of 20% or more. You can use this discount normally up until you turn 25.
- Telematics Devices – Insureds that choose to allow their car insurance company to analyze vehicle usage by using a telematic data system such as Progressive’s Snapshot and State Farm’s In-Drive might see lower rates if they exhibit good driving behavior.
- Senior Citizen Rates – If you’re over the age of 55, you could receive reduced rates.
It’s important to note that most discount credits are not given to the entire policy premium. Some only apply to the cost of specific coverages such as liability and collision coverage. Even though the math looks like adding up those discounts means a free policy, it just doesn’t work that way.
Insurance companies that may include these benefits include:
If you want low cost Dallas car insurance quotes, ask every prospective company to apply every possible discount. Some discounts might not apply in every state. For a list of companies with discount rates in Dallas, click here to view.
Good Decisions Result in Lower Insurance Costs
It’s important that you understand some of the factors that help calculate your insurance rates. If you have some idea of what positively or negatively impacts your premiums, this allows you to make good choices that may result in lower rates. Many factors are used when pricing auto insurance. A few of the factors are predictable such as traffic violations, but other factors are less apparent like where you live and annual miles driven.
The itemized list below are just a few of the factors companies use to determine your rate level.
Rates increase with driving citations – Even a single citation may cause rates to rise twenty percent or more. Good drivers get better prices compared to drivers with tickets. Drivers with license-revoking violations such as DUI, reckless driving or excessive speeding may face state-mandated requirements to complete a SR-22 with their state’s department of motor vehicles in order to prevent a license revocation.
Get married and pay lower costs – Having a spouse actually saves money compared to being single. Having a spouse is viewed as being more mature than a single person and insurance companies like that drivers who are married file infrequent claims.
Better premiums for continuous coverage – Not maintaining insurance can get your license suspended and your next policy will cost more because you let your insurance lapse for non-payment. In addition to paying higher rates, the inability to provide proof of insurance will get you a revoked license or a big fine.
Credit rating impacts costs – Your credit rating can be an important factor in determining what you pay. If your credit is low, you could save money insuring your Tesla Model S if you improve your credit rating. Drivers with very good credit scores tend to file fewer claims and have better driving records as compared to drivers with lower ratings.
Older drivers pay less – Teenage drivers in Texas have been known to be easily distracted in a vehicle so they pay higher insurance rates. Adding a teen driver to your insurance policy can cause a big jump in price. Older people are more responsible, file fewer claims, and get fewer tickets.
Insurance losses for a Tesla Model S – Insurers take into consideration historical loss data for every vehicle as a tool for profitable underwriting. Models that the data determines to have higher claim frequency or loss amount will cost more for specific coverages. The table shown below demonstrates the actual insurance loss data for Tesla Model S vehicles.
For each type of coverage, the claim amount for all vehicles averaged together is set at 100. Values below 100 are indicative of better than average losses, while values that are above 100 indicate a higher chance of having a claim or an increased probability of a larger loss.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Tesla Model S 4dr Electric 2WD | 324 | 116 | 208 | 39 | 46 | 104 |
| Tesla Model S 4dr Electric 4WD | 333 |
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Local agents and auto insurance
Many people prefer to go talk to an agent and that can be a great decision An additional benefit of price shopping on the web is you may find lower premium rates but still work with a licensed agent.
To find an agent, once you fill out this simple form, the quote information is transmitted to insurance agents in Dallas that give free quotes for your auto insurance coverage. It simplifies rate comparisons since you won’t have to contact any insurance agencies since price quotes are sent to you. You can find the lowest rates and a licensed agent to work with. If you wish to get a comparison quote from a specific auto insurance provider, you just need to go to their quote page and give them your coverage information.
Finding the right insurance company should include more criteria than just a cheap price. These are some valid questions you should ask.
- Are they able to influence company decisions when a claim is filed?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- How is replacement cost determined on your vehicle?
- Is coverage determined by price?
- Is their price quote a firm figure or are their hidden costs?
- If your car is in the repair shop, do you have coverage for a rental car?
- Are they giving you every discount you deserve?
- What is their Better Business Bureau rating?
After talking to the agent and getting good feedback to all your questions as well as a price you’re happy with, chances are good that you have found an insurer that can be trusted to adequately provide auto insurance. But keep in mind policyholders can terminate your policy any time you want so never assume that you are obligated to any specific agency for the full term.
Do the work, save more money
In this article, we covered quite a bit of information on how to lower your Tesla Model S insurance prices in Dallas. The key concept to understand is the more you quote Dallas car insurance, the better your comparison will be. Consumers could even find that the best price on insurance is with a small mutual company.
People who switch companies do it for a variety of reasons including high rates after DUI convictions, extreme rates for teen drivers, being labeled a high risk driver and even delays in paying claims. It doesn’t matter why you want to switch finding a great new company can be pretty painless.
Cheaper insurance in Dallas can be found online as well as from insurance agents, so you should be comparing quotes from both so you have a total pricing picture. Some insurance companies do not provide online price quotes and these small insurance companies only sell through local independent agencies.
More tips and info about insurance can be found in the articles below:
- Crash Avoidance Technologies FAQ (iihs.org)
- What Car Insurance is Cheapest for a Toyota RAV4 in Dallas? (FAQ)
- How Much are Car Insurance Rates for Active Military in Dallas? (FAQ)
- How Much is Dallas Auto Insurance for Teachers? (FAQ)
- Who Has Cheap Dallas Auto Insurance Quotes for a Dodge Journey? (FAQ)
- How Much is Auto Insurance for Drivers with a Bad Driving Record in Dallas? (FAQ)
- Side Impact Crash Tests (iihs.org)
- Understanding Rental Car Insurance (Insurance Information Institute)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)