Car Insurance Quotes for a Tesla Model S in Arlington

Discount Tesla Model S insuranceIf your goal is the lowest price, then the best way to find more affordable car insurance rates is to compare prices once a year from insurers who provide auto insurance in Arlington.

One thing to remember is to make sure you enter the same physical damage deductibles and liability limits on every price quote and to quote with every insurance company. This ensures an accurate price comparison and and a good selection of different prices.

A recent study showed that over 70% of consumers renewed their policy with the same company for a minimum of four years, and just short of a majority have never taken the time to shop around. American consumers could save themselves $860 a year by just comparing quotes, but they just don’t understand the large savings they would see if they switched to a more affordable policy.

Buying the cheapest auto insurance in Arlington can really be easy if you know what you’re doing. If you have a current auto insurance policy or are looking for a new policy, you will benefit by learning to reduce the price you pay without reducing coverage. Comparison shoppers only have to learn the fastest way to get comparison quotes from multiple carriers.

Most of the larger companies allow consumers to get insurance quotes on their websites. Getting online rates for Tesla Model S insurance in Arlington is fairly straightforward as you just enter your required coverages into the quote form. After you complete the form, their system gets your driving and credit reports and quotes a price based on the data you entered. The ability to get online price quotes for Tesla Model S insurance in Arlington makes it a lot easier to compare rates and it is imperative to have as many quotes as possible in order to get cheap rates.

To quickly fill out one form to compare multiple rates now, compare rate quotes from the providers shown below. If you have a policy now, it’s recommended you replicate deductibles and limits as shown on your current policy. This way, you will receive a rate comparison using the same coverage and limits.

The companies shown below provide quotes in Texas. If you want cheap auto insurance in Arlington, TX, we suggest you get prices from several of them to get the cheapest price.

Learn How to Buy Car Insurance at a Discount

One of the most helpful ways to save on car insurance is to to have a grasp of the rating factors that aid in calculating your policy premiums. When you understand what controls the rates you pay, this allows you to make educated decisions that may result in much lower annual insurance costs. Many factors are used in the calculation when you get your auto insurance bill. Some factors are common sense such as your driving record, but other factors are not quite as obvious like your continuous coverage or your vehicle rating.

The factors shown below are some of the things used by your company to calculate rates.

Premiums can be impacted by your occupation – Jobs such as military generals, social workers, and accountants tend to have higher rates than average because of high stress levels and incredibly demanding work hours. Other jobs like farmers, students and homemakers have the lowest average rates.

With age comes responsibility – More experienced drivers have been proven to be more responsible, file fewer claims, and receive fewer citations. Drivers with little experience are known to be less responsible when driving and because of this, their car insurance rates are much higher.

Stay claim-free and save – If you tend to file frequent claims, you can expect increased rates or even have your policy non-renewed. Insurance companies in Texas award discounts to policyholders who file claims infrequently. Your insurance policy is designed for claims that pose a financial burden.

Cars with good safety ratings cost less to insure – Safer cars cost less to insure. Vehicles engineered for safety protect occupants better and fewer serious injuries means less money paid by your insurance company passed on to you as lower rates.

Extra coverages can cost a lot – Insurance policies have a lot of optional add-on coverages that can waste your money if you aren’t careful. Insurance for things like personal injury protection, high-cost glass coverage, and extra equipment coverage are some examples. They may sound like good ideas at first, but your money might be better spent on other coverage so get rid of them and save.

Cheaper prices using GPS tracking and theft deterrents – Driving a car with an alarm system can help lower your rates. Anti-theft features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all help prevent your car from being stolen.

Loss probability for a Tesla Model S – Insurers take into consideration insurance loss statistics for every vehicle to calculate a price that will offset any claims. Models that the data determines to have higher claim amounts or frequency will have higher premium rates. The next table shows the insurance loss data used by companies for Tesla Model S vehicles.

For each policy coverage type, the claim probability for all vehicles combined as an average equals 100. Numbers that are below 100 suggest a positive loss record, while values that are above 100 point to more losses or statistically larger claims.


Insurance Loss Ratings for Tesla Model S Vehicles
Vehicle 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
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Here’s why insurance is not optional

Despite the high insurance cost for a Tesla Model S in Arlington, insurance is required by state law in Texas and it also provides benefits you may not be aware of.

First, almost all states have compulsory liability insurance requirements which means state laws require a specific level of liability coverage in order to be legal. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if you bought your car with a loan, more than likely the lender will make it mandatory that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank may insure your Tesla at a more expensive rate and force you to reimburse them for the much more expensive policy.

Third, insurance protects both your Tesla and your personal assets. Insurance will also pay for all forms of medical expenses for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, also covers legal expenses if anyone sues you for causing an accident. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will cover the repair costs.

The benefits of carrying enough insurance more than cancel out the cost, particularly if you ever have a claim. According to a survey of 1,000 drivers, the average driver is overpaying more than $850 per year so shop around at least once a year to ensure rates are competitive.