2022 Tesla Model S Insurance Quotes in 2024 – 5 Policy Discounts

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 6, 2024

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No one rejoices having to buy car insurance, especially when they could lower their rates if they shopped around. Since you have so many options when it comes to car insurance, it can be difficult for people to pick the cheapest insurer.

Buying more affordable protection is not that difficult. If you have a policy now or are shopping for new coverage, you can learn to shop for the lowest rates while maintaining coverages. Drivers just need to know the most effective way to compare rates over the internet.

Which insurance is cheapest?

Effectively comparing insurance prices is a ton of work if you don’t utilize the most efficient way to do it. You can waste hours talking about coverages with insurance agencies in your area, or you can stay home and use online quotes to quickly compare rates.

All the larger companies participate in a marketplace where insurance shoppers submit one quote, and every company returns a rated price. This saves time by eliminating repetitive form submissions to each individual insurance company.

To enter your information into the quoting system, enter your zip code here.

The only drawback to using this type of form is that you can’t choose which companies you want pricing from. So if you prefer to pick specific providers to compare rates, we have a listing of low cost insurance companies in your area. Click to enter zip code.

You can use whichever method you prefer to find lower rates, just be sure to compare nearly identical coverage limits and deductibles on every quote you get. If each company quotes different coverage information then you won’t be able to truly determine the lowest rate.

Insurance companies are expert advertisers

Consumers can’t avoid all the ads for the lowest price insurance by Allstate, GEICO and Progressive. They all seem to make an identical promise that you’ll save big if you move your coverage.

How does each company lower your prices?

Insurance providers quote their cheapest rates for the type of insured that is profitable for them. A good example of this type of driver should be a married male, has no driving citations, and has excellent credit. Anybody that meets those criteria receive the lowest rate quotes and have a good chance to pay quite a bit less when switching companies.

Drivers who don’t measure up to this stringent profile will be charged a higher premium which leads to the driver buying from a lower-cost company. The trick is to say “customers who switch” but not “all drivers who get quotes” save that kind of money. That is how insurance companies can make it sound like they have such great rates.

Because every company is different, you really should compare as many free auto insurance quotes as you can. It’s just not possible to know the company that will give you lower prices than your current company.

Slash your car insurance rates with these five discounts

Some providers do not advertise all possible discounts in an easy-to-find place, so the list below contains both well-publicized and also the more inconspicuous credits available to bring down your rates.

  • Distant Student Discount – Youth drivers who live away from home to go to college and won’t have access to an insured vehicle could get you a discount.
  • Defensive Driver – Successfully completing a course in defensive driver may get you a small discount and make you a better driver.
  • Student Discount for Driver Training – Make teen driver coverage more affordable by requiring them to enroll in driver’s education in school or through a local driver safety program.
  • Passive Restraint Discount – Options like air bags and/or automatic seat belt systems can get savings as much as 30%.
  • Savings for New Vehicles – Buying insurance coverage on a new vehicle can get you a discount because newer vehicles have to meet stringent safety requirements.

Don’t be shocked that some of the credits will not apply to the entire policy premium. Some only reduce specific coverage prices like medical payments or collision. So even though they make it sound like all those discounts means the company will pay you, company stockholders wouldn’t be very happy.

The best car insurance companies and a summarized list of policyholder discounts include:

  • GEICO offers discounts including daytime running lights, good student, air bags, membership and employees, and multi-vehicle.
  • Mercury Insurance discounts include anti-theft, multi-car, age of vehicle, accident-free, professional/association, and annual mileage.
  • Farmers Insurance has discounts for business and professional, switch companies, bundle discounts, homeowner, and distant student.
  • Auto-Owners Insurance may offer discounts for anti-theft, good student, safe vehicle, multi-policy, and teen driver.
  • Liberty Mutual offers discounts for newly married, safety features, new graduate, new vehicle discount, hybrid vehicle, and newly retired.
  • SAFECO may include discounts for homeowner, bundle discounts, multi-car, drive less, and anti-theft.
  • Progressive offers premium reductions for online quote discount, good student, online signing, multi-policy, homeowner, multi-vehicle, and continuous coverage.
  • USAA policyholders can earn discounts including multi-policy, driver training, new vehicle, safe driver, vehicle storage, and annual mileage.

If you need lower rates, check with every prospective company how you can save money. Savings might not apply in your area. If you would like to choose from a list of providers that offer some of these discounts, enter your zip code here.

You are unique and your insurance coverage should be too

When it comes to buying coverage for your vehicles, there isn’t really a cookie cutter policy. Your needs are not the same as everyone else’s and your policy should reflect that. These are some specific questions can help discover whether your personal situation would benefit from an agent’s advice.

  • What discounts do I qualify for?
  • Do I need replacement cost coverage on my 2022 Tesla Model S?
  • What is the difference between comprehensive and collision coverage?
  • Can I get a multi-policy discount?
  • Is my dog or cat covered if injured in an accident?
  • Should I have a commercial auto policy?

If you don’t know the answers to these questions but you know they apply to you, you might consider talking to a licensed agent. If you don’t have a local agent, fill out your zip code. It’s fast, free and may give you better protection.

Car insurance coverage information

Learning about specific coverages of a insurance policy aids in choosing the right coverages and the correct deductibles and limits. The terms used in a policy can be ambiguous and nobody wants to actually read their policy. Listed below are typical coverages offered by insurance companies.

Coverage for medical expenses – Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses like rehabilitation expenses, EMT expenses, chiropractic care, ambulance fees and X-ray expenses. The coverages can be used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants in addition to any family member struck as a pedestrian. PIP is not universally available but can be used in place of medical payments coverage

Collision – Collision insurance will pay to fix damage to your Model S resulting from colliding with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage pays for claims like colliding with a tree, driving through your garage door and hitting a parking meter. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. You can also choose a higher deductible to get cheaper collision coverage.

Comprehensive insurance – Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims like vandalism, a tree branch falling on your vehicle, fire damage, hitting a bird and theft. The maximum payout you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Coverage for uninsured or underinsured drivers – This coverage provides protection when the “other guys” do not carry enough liability coverage. It can pay for injuries to you and your family as well as damage to your Tesla Model S.

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. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Normally these coverages are set the same as your liability limits.

Coverage for liability – Liability insurance will cover damage or injury you incur to other people or property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 50/100/50 which stand for $50,000 bodily injury coverage, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.

Liability can pay for claims like structural damage, loss of income and repair bills for other people’s vehicles. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as much as you can afford.

A little work can save a LOT of money

Some insurance providers may not have rates over the internet and usually these small, regional companies only sell through independent insurance agencies. More affordable car insurance can be found on the web as well as from insurance agents, so compare prices from both to have the best rate selection.

You just read many tips how you can get a better price on 2022 Tesla Model S insurance. The key thing to remember is the more companies you get prices for, the higher your chance of finding the cheapest auto insurance. Consumers may even find the lowest premium rates come from some of the smallest insurance companies. Regional companies can often provide lower prices in certain areas than the large multi-state companies such as Progressive or GEICO.

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