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...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years’ experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent Benji Carr

UPDATED: Oct 5, 2015

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Want lower insurance coverage rates for your Tesla Model S? Trying to find low-cost insurance for a Tesla Model S can be a painful process, but you can learn a few tricks to make it easier. There are more efficient ways to shop for insurance coverage and you need to know the proper way to compare rates for a new or used Tesla and obtain the lowest possible price from both online companies and local agents.

Consumers need to check insurance coverage prices yearly since insurance prices fluctuate regularly. Even if you think you had the best quotes on Model S insurance a couple years back you will most likely find a better rate today. Ignore everything you know about insurance coverage because we’re going to demonstrate the fastest and easiest way to find better coverage at a better price.

Finding the best rates is quite easy. If you have a current insurance policy or need new coverage, you will benefit by learning to get lower rates while maintaining coverages. Drivers just need to learn the best way to find the lowest price online.

How to shop auto insurance online

All the larger auto insurance companies allow you to get coverage price quotes direct online. This process can be done by anyone as you just type in the coverages you want into a form. After you complete the form, their rating system obtains information on your driving record and credit history and quotes a price based on many factors.

This makes it simple to compare prices but the process of having to visit a lot of sites and enter the same data into a form is not the best way to spend an afternoon. But it’s also necessary to perform this step if you want to find better auto insurance pricing.

Quote rates the easy way

A better way to lower your auto insurance bill makes use of a single form that obtains quotes from several different companies. The form is fast, requires less work, and makes online shopping much more enjoyable. Immediately after submitting the form, it is quoted and you are able to buy any one of the quote results. If you find a better price you can click and sign and buy the policy. The entire process takes just a few minutes to complete and you’ll know if lower rates are available.

To compare pricing, click here to open in new window and submit your coverage information. If you have coverage now, it’s recommended that you enter the coverage information as shown on your current policy. This way, you will have comparison quotes based on identical coverages.

Enter your zip code below to view companies that have cheap auto insurance rates.

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Truth in insurance advertising

Consumers can’t escape the ads for insurance savings by companies like 21st Century, Allstate and State Farm. All the ads say the same thing that you’ll save big just by moving to them.

How does every company offer drivers better rates? This is the way they can do it.

All the different companies have underwriting criteria for the type of customer that earns them the most money. For example, a desirable insured might have to be a female over age 40, has no driving citations, and the vehicle is rated for pleasure use. Any driver who matches that profile is entitled to the best price and will also cut their rates substantially.

Potential customers who cannot meet those criteria will get a higher premium with the end result being the customer not purchasing. If you listen closely, the ads state “customers that switch” but not “all drivers who get quotes” can save as much as they claim. That’s why insurance companies can make claims that they all have the best prices. Different companies use different criteria so drivers should get price quotes at each policy renewal. Because you cannot predict which company will have the best premium rates for your profile.

Get lower-cost car insurance with these tips

Many things are used when you quote your car insurance policy. Some factors are common sense such as traffic violations, but other criteria are less obvious like your vehicle usage or how financially stable you are.

  • Liability coverage is cheap – Liability insurance provides coverage if you are responsible for an accident. It will provide for a legal defense to attempt to prove you were not liable. It is affordable coverage compared to physical damage coverage, so drivers should carry high limits.
  • Teen drivers pay more – Teen drivers have been known to be inattentive behind the wheel therefore car insurance rates are much higher. More experienced drivers are proven to be safer behind the wheel, tend to cause fewer accidents and are safer drivers.
  • Combining policies can get discounts – Some insurance companies afford better rates to people who carry more than one policy. It’s known as a multi-policy discount. Even if you’re getting this discount it’s in your best interest to shop around to help ensure you have the lowest rates.
  • Driving citations inflate premiums – Drivers who don’t get tickets receive lower rates compared to bad drivers. Only having one citation could increase your next policy renewal forty percent or more. Drivers unfortunate enough to have careless tickets like DUI, reckless driving or excessive speeding may need to prove financial responsibility with their state’s licensing department in order to legally drive a vehicle.
  • Drive a safer car and pay less – Vehicles with high crash test scores tend to have better insurance rates. The safest vehicles protect occupants better and lower injury rates means less claims paid and thus lower rates.
  • Gender as a rate factor – Over time, data shows that females tend to be a little less risky than males. Now that doesn’t mean females are better at driving than males. Both genders cause accidents at a similar rate, but the male of the species cause more damage. Not only that, but men also receive more major tickets such as driving while intoxicated (DWI) or driving recklessly. Young males cause the most accidents so they pay the highest premiums.

Save a ton by taking advantage of discounts

Companies do not list their entire list of discounts in an easy-to-find place, so the following list contains a few of the more common and the harder-to-find credits available to bring down your rates.

  • ABS Braking Discount – Cars that have anti-lock braking systems can avoid accidents and therefore earn up to a 10% discount.
  • Waiver for an Accident – This one is not really a discount per se, but companies like State Farm and GEICO permit an accident without getting socked with a rate hike as long as you don’t have any claims prior to the accident.
  • Seat Belts Save more than Lives – Requiring all passengers to use their safety belts can save up to 15% off the PIP or medical payment premium.
  • Government Employees – Active or former government employment could provide a small rate reduction on Model S insurance with a few car insurance companies.
  • Savings for New Vehicles – Insuring a new car can save you some money compared to insuring an older model.
  • Senior Citizens – Mature drivers can possibly qualify for better car insurance rates on Model S insurance.
  • Pay Early and Save – By making one initial payment instead of making monthly payments you can avoid monthly service charges.
  • Military Discounts – Being deployed in the military may lower your premium rates slightly.

Don’t be shocked that most discount credits are not given to your bottom line cost. The majority will only reduce the cost of specific coverages such as liability and collision coverage. Just because it seems like adding up those discounts means a free policy, it doesn’t quite work that way.

A list of companies and the discounts they provide can be read below.

  • State Farm has savings for good driver, Steer Clear safe driver discount, passive restraint, multiple autos, and driver’s education.
  • Liberty Mutual policyholders can earn discounts including new vehicle discount, new move discount, preferred payment discount, exclusive group savings, multi-car, and teen driver discount.
  • American Family may offer discounts for mySafetyValet, good student, air bags, TimeAway discount, and multi-vehicle.
  • Progressive offers premium reductions for homeowner, online quote discount, online signing, continuous coverage, and multi-vehicle.
  • Farmers Insurance has discounts for distant student, youthful driver, business and professional, electronic funds transfer, good student, and multi-car.
  • Auto-Owners Insurance discounts include paperless, multiple vehicles, mature driver, multi-policy, and group or association.
  • SAFECO offers discounts for multi-car, teen safety rewards, safe driver, bundle discounts, drive less, accident prevention training, and anti-theft.

If you are trying to find the cheapest insurance coverage quotes, ask all companies you are considering how you can save money. Some credits may not be available in your state. To view companies that provide some of the discounts listed above, follow this link.

Enter your zip code below to view companies that have cheap auto insurance rates.

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How much insurance do I need?

When it comes to buying proper insurance coverage for your personal vehicles, there really is not a perfect coverage plan. Every situation is different.

For example, these questions can aid in determining if your situation might need an agent’s assistance.

  • Do I benefit by insuring my home with the same company?
  • Should I rate my 2014 Tesla Model S as pleasure use or commute?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • What discounts do I qualify for?
  • Exactly who is provided coverage by my policy?
  • Am I covered when pulling a rental trailer?
  • Should I have a commercial auto policy?
  • Why am I be forced to buy a membership to get insurance from some companies?
  • Is my business laptop covered if it gets stolen from my vehicle?

If you’re not sure about those questions then you might want to talk to an insurance agent. To find an agent in your area, take a second and complete this form. It’s fast, free and you can get the answers you need.

Auto insurance specifics

Learning about specific coverages of your policy helps when choosing which coverages you need for your vehicles. The coverage terms in a policy can be ambiguous and coverage can change by endorsement.

Uninsured and underinsured coverage – This coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. It can pay for medical payments for you and your occupants and damage to your 2014 Tesla Model S.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage is a good idea.

Liability coverage – This protects you from damages or injuries you inflict on a person or their property in an accident. This insurance protects YOU from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 25/50/25 which stand for $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000.

Liability insurance covers things such as structural damage, court costs, emergency aid, repair bills for other people’s vehicles and loss of income. The amount of liability coverage you purchase is up to you, but buy as large an amount as possible.

Collision coverages – This will pay to fix damage to your Model S resulting from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as scraping a guard rail, colliding with another moving vehicle, driving through your garage door, colliding with a tree and hitting a parking meter. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to bump up the deductible to save money on collision insurance.

Comprehensive coverages – This will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive coverage pays for claims like damage from a tornado or hurricane, damage from flooding, damage from getting keyed, vandalism and falling objects. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Coverage for medical payments – Medical payments and Personal Injury Protection insurance reimburse you for expenses for things like funeral costs, EMT expenses and nursing services. They can be used to fill the gap from your health insurance program or if you are not covered by health insurance. Coverage applies to both the driver and occupants and will also cover any family member struck as a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

More comparisons equals lower rates

You just read a lot of information how to get a better price on 2014 Tesla Model S insurance. The key concept to understand is the more you quote insurance coverage, the better your chances of lowering your car insurance rates. You may be surprised to find that the best rates are with some of the lesser-known companies.

When buying insurance coverage, don’t be tempted to reduce coverage to reduce premium. Too many times, an insured cut collision coverage only to regret that it was a big mistake. The proper strategy is to buy the best coverage you can find for the lowest cost, but do not sacrifice coverage to save money.

Lower-priced insurance coverage can be bought online and from local insurance agents, so you need to quote insurance coverage with both to get a complete price analysis. Some insurance providers do not provide the ability to get a quote online and usually these regional insurance providers prefer to sell through independent agents.

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