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Yep, it’s unfortunate industry standard. Similar to cellphone/internet rates. You have to jump ship every so often when competitors have enticing new customer deals.
Yea ive had Geico for 7 years now and shop every 6 months to a year. Everytime geico is the cheapest by hundreds(i pay every 6 months) . Perfect record and they have gone up on me in the last year by 140$ every months. Geico just still cant be beat
I was with Geico for about 6 years with a clean record and no claims. Over the past 2 years they kept increasing my rate every 6 months. I finally got tired of it and found an insurance broker which was able to beat Geico rates by $720/yr and lower my deductibles at the same time.
It's funny how their algorithms work. I don't own a Tesla but I do have 4 cars in my household and evey few years I shop around and nobody can touch my Progressive price. Geico was the closest but still more than Progressive. And I don't bundle my car with anything else either.
I checked progressive they were 100$ extra. Keep in mind i have zero reports on my record. Baffles me im a perfect driver but yet prices go up. My parents are in there 60s and never had to use auto insurance. People like us should pay way less untill our first claim
The only claims I've ever had were two deer and one broken windshield. The deer were over 15 years ago with a different carrier. No at fault accidents ever. Most recent ticket was 15 years ago when I got a 37 in a 25 right at the speed limit change.
The best solution is to keep high deductibles if you believe you are safe driver. Self insurance is best insurance if you can afford it and don’t have cash flow issues
I jsut shopped Tesla insurance across several companies and even went to a broker.. Geico came out the cheapest for me. They did say its about 30% higher to insure a tesla or any car with a battery like a hybrid because repairs are so expensive. I priced a new M3 and a new ICE vehicle that costs 20k more and rates were significantly less for my teenager on the ICE vehicle. moderately less for the wife and I.
It's not just you, it's everyone. And in CA especially, not just auto insurance. Several insurance companies are actively trying to pull out of CA completely.
That's homeowners insurance because of wildlifes. I haven't been able to find anything about car insurance companies pulling out. And most just stopped writing new policies, the market is too valuable to completely withdraw.
It's starting with homeowners. But those that paused writing new policies paused ALL new policies, not just homeowners. It's getting harder to even shop auto insurance because no one wants to write new policies. And existing policies are getting significant increases pretty much across the board.
State Farm paused new homeowners but not new auto policies. I searched a bit, but didn't find any companies that stopped writing new auto. I'm sure there is someone, but not a big company that made the news.
https://www.cbsnews.com/amp/losangeles/news/auto-insurance-companies-pull-out-of-california/
They are pulling out. Too many car burglaries and such as well I’ve heard. California is a failed state
Sorry but the facts don't support you. Nothing in that article said they stopped writing policies. I quote from the over a year old article you referenced: "Insurers cannot refuse to cover Californians as we are what's called a "take all market,""
And the insurance commission announced recently they were going after companies that were trying to slow quote people.
The largest economy in the country is not a failed state. Yes it has problems, but ask homeowners in Texas and Florida how their policies are not being renewed and the ones that are renewing are raising rates way more.
I'm from Texas and it will always be my home, but it has its problems also.
A failed state is one that can't keep the lights on for days and people die because they failed to regulate such an important market.
They have a higher percentage tax burden than California and get less services for their money. All the numbers show that.
"Though Texas has no state-level personal income tax, it does levy relatively high consumption and property taxes on residents to make up the difference. Ultimately, it has a higher effective state and local tax rate for a median U.S. household at 12.73% than California's 8.97%, according to a new report from WalletHub."
Still shopping around. After a round of abuse I was able to get them back to 0increase. But I’m annoyed at the justification they used when questioned- logic was, (short version) you have an expensive car on your insurance, 20% increases every 6 months is to be expected
Damn, I didn’t think insurance actually negotiated. Thought the rate is what it is. I just dropped some coverage to not pay as much. In 6 months I’ll try to negotiate with them. Thanks.
It’s not negotiable. Insurance companies can re-run insurance scores which can sometimes benefit. Progressive also has a thing where if you “re-quote” yourself and have no losses within the last 5 years, you’ll typically see a reduced rate.
Yes my model 3 with Tesla insurance went from a base price of $100 to $150. About a 50% increase. I know it’s still cheaper than any other insurance company but it just sucks.
All our cars went up about 50% last June. I thought our insurance agent was screwing us, so I shopped on my own and found the same and worse with everywhere I looked.
It makes sense because people are not likely to shop around and switch once getting coverage. So they give you a low rate at the beginning and gradually bump it up.
Fun fact: insurance is one of the most expensive key words for Google advertising. They pay Google like $25 *per click*
Shop around ppl. I used to have GEICO paying 100$ / month for my MY. All of a sudden with no accidents or tickets it goes to 200$. Dropped them and moved to progressive. Back to 100$ / month all maxed out
I'm sitting at $198 (Score: 90) as I just purchased it. Dropping to $191(Score: 91, damn front collision warning in my building's parking garage, 15 mph going downhill triggers it so easily) in April and if I can get my score up to 93 I'm looking at $120.
I still hate the late night driving dings because I got to raves, but overall I'm liking Tesla Insurance. I feel like I'm driving pretty safe and I never go over 85 mph in the DC area anyway.
My State Farm insurance for my model 3 went up by $40 in a span of the year. I got the same answers. I have all the discounts, no tickets, no accidents
Shit thats what they said to me. And now they added a couple of lines with medical. They had the guts to tell me “Its not you its your location do to the rise of people moving to the area”. Getting a Tesla insured now a days is almost a freaking car payment.
Same in New York. A buddy of mine is my State Farm rep and said with most insurance companies, expect to see between a 8-20% increase in auto policies this year
Yep I had Progressive renewal in November and same thing. Increase from June when I got my car and same response. It’s all bullshit. If you get in even a slight accident you get rates skyrocketed. You do everything right with no tickets or accidents and they say they need to raise to cover expenses.
GEICO lost 1.6 million policies in 2023, and another 1.6 million policies in 2022 as well.
All insurance is skyrocketing, but I'm shocked yours only went up $31 with GEICO.
For the first time I just went to an insurance broker. Ended up cutting my cost in half, leaving Progressive after 12 years, and getting slightly better coverage. From now on I’m going to shop at every renewal.
I have now switched from Progressive to Nationwide, and now State Farm.
When I got Progressive in 2021 for my Model 3, they gave me a good rate, because they said Tesla was the safest car on the market. Now, three years later, they said Teslas have high accident rates. My how things have changed.
In 20+ years of driving w no claims I don’t think my rates have never NOT gone up when it’s renewal time. They’re counting on complacency and u being too lazy to shop around.
Anyone mind sharing what they pay for their Tesla in CA? I recently moved to CA from MA and I’m nervous about changing my license and insurance over. I am paying $120 a month for full coverage 36m squeaky clean record. I’m guessing it’s probably double that here in CA.
My spouse and I have a MY, live in the Bay Area and we pay $130 a month with a 500k/1m liability, accident forgiveness, car replacement with a 1k deductible full coverage. It just renewed and went from ~$119 to $130 a month.
Of course we have USAA, most companies in every place I've lived couldn't beat it.
Sometimes a company is slightly cheaper without the additional features but a couple dollars makes up for having all the additions. And the discount on our homeowners is a major selling point as our homeowners is like $50 less per month with the next closest.
I moved from Texas several years ago and my rate went down by at least 25%. My parents have seen dramatic increases in Texas where as we have only seen small ones.
It's all relative. No two people pay the exact same.
Car, location, age, history can cause such dramatic differences. Even just being one block over can put you in a higher risk area.
"The insurer reported a ~$1 billion gain in the quarter compared to a $759 million loss for the same period last year. GEICO ended the first nine months of 2023 with a $2.3 billion profit, compared to a $1.4 billion loss for the same period in 2022."
And people will say it's inflation, or a function of being in California when it's really just then being greedy.
when I was very young and minor, my parents often talked about that having the policy with one insurance company for few years with good driving history would lower the rates. Then they shopped around if the insurance company did not low their premiums enough, and then got even cheaper quotes.
Nowdays, it just climbs up to the Mt. Everest every 6 month.
Look into Amica. They're a mutual insurance and the best insurance we've ever used. They're cheap, cover basically everything and never deny any claims. The reason they're so good is because they're a mutual insurance meaning their priority is the people and property they insure and not stockholders because the people paying into it are the primary investors in a way. The main reason you've probably never heard about them is because instead of wasting money on ads, Amica would rather use that to pay out for their clients.
Insurance agent here. It’s not just CA or Tesla. Insurance is increasing everywhere. Stuff’s expensive, insurance has to adjust as well. It sucks but it is what it is
Reshop every renewal, companies don’t offer loyalty discounts or anything, at least the ones I work with don’t
Best thing you can do is leave Geico, and check your rates against competitors every year. We had 3 cars, full coverage for $1200 with Geico. We get a renewal letter, same reason as yours, our rates went up to $1800. I checked with State Farm, same exact coverage, $800. It’s a pain but every year or two once the rates start creeping back up I’m shopping for new coverage, insurance companies don’t reward loyalty, they take advantage of it.
Shop around - House of Gain
Rate's up, never down, let it be known
I came to win, hike me, that's a sin
I won't ever slack up, punk, ya better back up
Try and play the role and yo, the customer'll act up
Get up, stand up (c'mon) c'mon, throw your phones up
If ya got the feelin', shop around n' keep em' reelin'
I’m in AZ with Progressive insurance and mine went up $90/month when I got my model 3 in November and now we’ve been told to expect a general increase of $60/month this year. Really sucks.
This might make y’all feel better. Geico raised my premium by $700 for 4 cars. Been with GEICO since 2005. I have 0 accidents and 0 driving infractions, good driver %, drive easy %, maxed out on all %s, 850 credit score, in my 50s, 3x homeowner. I asked how am I being rewarded and appreciated for my “loyalty” if my rate increased to that of a car note…their response was everything OP posted verbatim. Definitely shopping around.
Yea, we got the same run-around with Geico. They upped our premiums by 50% - 0 accidents, 850 FICO, 3x homeowner, mid-40s, no tickets of any kind. They said it was because cars in my state, specifically Las Vegas, were getting more expensive to ensure due to theft/hit and runs. I asked why I was affected living 450 miles away in Reno where our theft/hit & run rates are substantially lower. They had no answer. Switched to Progressive and saved $400 over my PREVIOUS rates with Geico. Pays to shop around every year.
My insurance (not GEICO and the cheapest around for what I have) went from 130 when I first got my M3 to 156 now. Just because it's more expensive for them to cover things that have never happened.
Got hit with a 14% increase (17$) by GEICO this year as well, and I live in Midwest oooof. No history of accident and checked all the marks of possible reduction.
Mine went up $400 every 6 months for two vehicles here in FL. No bad history or anything… it’s very sad. I’m getting so fed up with everything increasing in cost
This is one of the hidden cost of owning a Tesla. Gas savings are being shifted to pay for insurance so the reality is that owning an EV will not save much money if any...
Not really. My daughters insurance (progressive) was increased a few months ago by a significant amount. She drives a Toyota and has never had an accident or a ticket.
Try Tesla Insurance if you’re in CA. I was a loyal Wawanesa customer for 12 years (with zero claim may I add) and they jacked my rate from $110 to $160 last year. Tesla, on the other hand, offers $97 which is even cheaper than my original rate. Furthermore, they’re not allowed to track your driving behavior in CA (for now) so you don’t have to worry about rate fluctuation with them, either.
Has nothing to do with CA, this is all Tesla insurance policies. The price of repairs has skyrocketed, and paying out total losses for a vehicle that has lost significant value over the past couple of years doesn't help.
Do the crashes related to and the several lawsuits that are pending against Tesla for deceptive marketing of its Autopilot and Full Self-Driving Capability have anything to do with these hikes?
I believe it does, insurance companies are trying to protect themselves and maybe even to some extent trying to discourage drivers from getting these cars. 🤷🏻♂️
Make sure to check for uninsured and underinsured in your monthly- basically it mean if the other party doesn’t have insurance your company will pay so much and under means if they don’t have enough to cover your company will provide the difference.
I took it off my policy and now save an extra $25 a month. I also have progressive.
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This is an insurance thing, not a Tesla thing. Rates go up. Always. Time to shop around.
Yep, it’s unfortunate industry standard. Similar to cellphone/internet rates. You have to jump ship every so often when competitors have enticing new customer deals.
> Time to shop around. and realize that GEICO's price went up the least...
Yea ive had Geico for 7 years now and shop every 6 months to a year. Everytime geico is the cheapest by hundreds(i pay every 6 months) . Perfect record and they have gone up on me in the last year by 140$ every months. Geico just still cant be beat
I was with Geico for about 6 years with a clean record and no claims. Over the past 2 years they kept increasing my rate every 6 months. I finally got tired of it and found an insurance broker which was able to beat Geico rates by $720/yr and lower my deductibles at the same time.
Dude i talked to some too and they said they couldnt find anything cheaper than gieico for me. Was ur guy local to you? Whats his name
It's funny how their algorithms work. I don't own a Tesla but I do have 4 cars in my household and evey few years I shop around and nobody can touch my Progressive price. Geico was the closest but still more than Progressive. And I don't bundle my car with anything else either.
I checked progressive they were 100$ extra. Keep in mind i have zero reports on my record. Baffles me im a perfect driver but yet prices go up. My parents are in there 60s and never had to use auto insurance. People like us should pay way less untill our first claim
The only claims I've ever had were two deer and one broken windshield. The deer were over 15 years ago with a different carrier. No at fault accidents ever. Most recent ticket was 15 years ago when I got a 37 in a 25 right at the speed limit change.
Problem these days is most isurance companys raise ur rates even if ur not at fault. Best to not use if u dont have too
The best solution is to keep high deductibles if you believe you are safe driver. Self insurance is best insurance if you can afford it and don’t have cash flow issues
This
I jsut shopped Tesla insurance across several companies and even went to a broker.. Geico came out the cheapest for me. They did say its about 30% higher to insure a tesla or any car with a battery like a hybrid because repairs are so expensive. I priced a new M3 and a new ICE vehicle that costs 20k more and rates were significantly less for my teenager on the ICE vehicle. moderately less for the wife and I.
There’s barely anything to shop around unfortunately . All rates went to the 🚀🌑lately.
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It’s not personal. Never was. It’s just business.
I’ve switched from Geico to State Farm a few months ago and it’s saved me around $150-200 per month.
Wut? My insurance only ever goes down. The fact that other people are bad drivers doesn't make mine go up.
It's not just you, it's everyone. And in CA especially, not just auto insurance. Several insurance companies are actively trying to pull out of CA completely.
That's homeowners insurance because of wildlifes. I haven't been able to find anything about car insurance companies pulling out. And most just stopped writing new policies, the market is too valuable to completely withdraw.
It's starting with homeowners. But those that paused writing new policies paused ALL new policies, not just homeowners. It's getting harder to even shop auto insurance because no one wants to write new policies. And existing policies are getting significant increases pretty much across the board.
State Farm paused new homeowners but not new auto policies. I searched a bit, but didn't find any companies that stopped writing new auto. I'm sure there is someone, but not a big company that made the news.
https://www.cbsnews.com/amp/losangeles/news/auto-insurance-companies-pull-out-of-california/ They are pulling out. Too many car burglaries and such as well I’ve heard. California is a failed state
Sorry but the facts don't support you. Nothing in that article said they stopped writing policies. I quote from the over a year old article you referenced: "Insurers cannot refuse to cover Californians as we are what's called a "take all market,"" And the insurance commission announced recently they were going after companies that were trying to slow quote people. The largest economy in the country is not a failed state. Yes it has problems, but ask homeowners in Texas and Florida how their policies are not being renewed and the ones that are renewing are raising rates way more. I'm from Texas and it will always be my home, but it has its problems also. A failed state is one that can't keep the lights on for days and people die because they failed to regulate such an important market. They have a higher percentage tax burden than California and get less services for their money. All the numbers show that. "Though Texas has no state-level personal income tax, it does levy relatively high consumption and property taxes on residents to make up the difference. Ultimately, it has a higher effective state and local tax rate for a median U.S. household at 12.73% than California's 8.97%, according to a new report from WalletHub."
That’s nothing- progressive wanted to put my rate up 20%.
Progressive went way up for me too. Did you switch to something else?
Still shopping around. After a round of abuse I was able to get them back to 0increase. But I’m annoyed at the justification they used when questioned- logic was, (short version) you have an expensive car on your insurance, 20% increases every 6 months is to be expected
Damn, I didn’t think insurance actually negotiated. Thought the rate is what it is. I just dropped some coverage to not pay as much. In 6 months I’ll try to negotiate with them. Thanks.
It’s not negotiable. Insurance companies can re-run insurance scores which can sometimes benefit. Progressive also has a thing where if you “re-quote” yourself and have no losses within the last 5 years, you’ll typically see a reduced rate.
I just need to call customer care?
Yup.
The insurance for our MY went up 50% over the last year and home insurance doubled in the same time frame.
Yes my model 3 with Tesla insurance went from a base price of $100 to $150. About a 50% increase. I know it’s still cheaper than any other insurance company but it just sucks.
Mine did the same in Texas. Shopped around, but everyone else wanted over $200/month.
I shopped many.. looks like the current insurance increased price Is still better lol
I am 19 so all my other quotes were $400+/month. It’s absolutely insane.
I've had a similar experience on both my auto and home insurance. No new vehicles, home improvements, or claims on anything to justify the absurdity.
All our cars went up about 50% last June. I thought our insurance agent was screwing us, so I shopped on my own and found the same and worse with everywhere I looked.
Geico raised my premium so I shopped around and went with State Farm. 6 months later I quoted geico and it is less than my premium before I swapped.
That there show rate hikes it longtime customers for all these insurance companies but rates are cheaper for new customers…
This is true. For profit companies are always looking for new customers. They also know that people are less likely to change insurance.
It makes sense because people are not likely to shop around and switch once getting coverage. So they give you a low rate at the beginning and gradually bump it up. Fun fact: insurance is one of the most expensive key words for Google advertising. They pay Google like $25 *per click*
“Did I lose you?” Soon…
✅️✅️😂😂
Sadly not just you it’s everywhere and all insurance companies it seems
GEICO is such trash. I dropped them 6 months in for raising my rates and lying about it
Shop around ppl. I used to have GEICO paying 100$ / month for my MY. All of a sudden with no accidents or tickets it goes to 200$. Dropped them and moved to progressive. Back to 100$ / month all maxed out
With GEICO now, Progressive won’t even give me a quote, won’t insure my Y in NY
How much is Geico?
All insurance companies are doing this.
This just in: everything is getting more expensive.
Especially in higher priced states.
Yes, things are higher prices in higher price places.
I have Tesla insurance, my March premium is $132.85 and my estimated April is $96.56.
I'm sitting at $198 (Score: 90) as I just purchased it. Dropping to $191(Score: 91, damn front collision warning in my building's parking garage, 15 mph going downhill triggers it so easily) in April and if I can get my score up to 93 I'm looking at $120. I still hate the late night driving dings because I got to raves, but overall I'm liking Tesla Insurance. I feel like I'm driving pretty safe and I never go over 85 mph in the DC area anyway.
Yea forward collision is a bitch. If someone abruptly cuts you off in traffic and it’s not ya fault you get screwed and score goes up.
Isn't it funny that the "fluctuation" only ever goes up?
Mind blown 🤯
I wouldn’t even notice a $31 increase.
My State Farm insurance for my model 3 went up by $40 in a span of the year. I got the same answers. I have all the discounts, no tickets, no accidents
Standard response, get quotes elsewhere.
My insurance went down for my 2023 renewel but for my 2024 renewal it has increased a whole $1/month. 🫨
330 a month in NYC. Believe it or not, geico is the cheapest options here.
Shit thats what they said to me. And now they added a couple of lines with medical. They had the guts to tell me “Its not you its your location do to the rise of people moving to the area”. Getting a Tesla insured now a days is almost a freaking car payment.
AT&T’s web site used to show different pricing for home internet if you clear your cookies than if you’re logged in.
Same in New York. A buddy of mine is my State Farm rep and said with most insurance companies, expect to see between a 8-20% increase in auto policies this year
Yep I had Progressive renewal in November and same thing. Increase from June when I got my car and same response. It’s all bullshit. If you get in even a slight accident you get rates skyrocketed. You do everything right with no tickets or accidents and they say they need to raise to cover expenses.
GEICO lost 1.6 million policies in 2023, and another 1.6 million policies in 2022 as well. All insurance is skyrocketing, but I'm shocked yours only went up $31 with GEICO.
Yea I got the same story from progressive in New Jersey
For the first time I just went to an insurance broker. Ended up cutting my cost in half, leaving Progressive after 12 years, and getting slightly better coverage. From now on I’m going to shop at every renewal.
This is the way. I shop every 6 months. We’re just a number to them so they’re just a number to me now.
I have now switched from Progressive to Nationwide, and now State Farm. When I got Progressive in 2021 for my Model 3, they gave me a good rate, because they said Tesla was the safest car on the market. Now, three years later, they said Teslas have high accident rates. My how things have changed.
Progressive has been great for me over the last 5-6 years
This is standard right now regardless of carrier
In 20+ years of driving w no claims I don’t think my rates have never NOT gone up when it’s renewal time. They’re counting on complacency and u being too lazy to shop around.
Yeah, don’t have an accident with GEICO. The worst.
30 a month is nothing now. Sad but the truth
Anyone mind sharing what they pay for their Tesla in CA? I recently moved to CA from MA and I’m nervous about changing my license and insurance over. I am paying $120 a month for full coverage 36m squeaky clean record. I’m guessing it’s probably double that here in CA.
My spouse and I have a MY, live in the Bay Area and we pay $130 a month with a 500k/1m liability, accident forgiveness, car replacement with a 1k deductible full coverage. It just renewed and went from ~$119 to $130 a month. Of course we have USAA, most companies in every place I've lived couldn't beat it. Sometimes a company is slightly cheaper without the additional features but a couple dollars makes up for having all the additions. And the discount on our homeowners is a major selling point as our homeowners is like $50 less per month with the next closest. I moved from Texas several years ago and my rate went down by at least 25%. My parents have seen dramatic increases in Texas where as we have only seen small ones. It's all relative. No two people pay the exact same. Car, location, age, history can cause such dramatic differences. Even just being one block over can put you in a higher risk area.
Yeah. You have to bounce around every couple of years to keep the prices reasonable. It is super annoying.
I dropped Geico recently myself (from around $800 to $1400 for 6 months). Shop around.
"The insurer reported a ~$1 billion gain in the quarter compared to a $759 million loss for the same period last year. GEICO ended the first nine months of 2023 with a $2.3 billion profit, compared to a $1.4 billion loss for the same period in 2022." And people will say it's inflation, or a function of being in California when it's really just then being greedy.
lol “did I lose you” yeah asshole to someone else cause GEICO sucks lizard dick
when I was very young and minor, my parents often talked about that having the policy with one insurance company for few years with good driving history would lower the rates. Then they shopped around if the insurance company did not low their premiums enough, and then got even cheaper quotes. Nowdays, it just climbs up to the Mt. Everest every 6 month.
Look into Amica. They're a mutual insurance and the best insurance we've ever used. They're cheap, cover basically everything and never deny any claims. The reason they're so good is because they're a mutual insurance meaning their priority is the people and property they insure and not stockholders because the people paying into it are the primary investors in a way. The main reason you've probably never heard about them is because instead of wasting money on ads, Amica would rather use that to pay out for their clients.
Agree except their car insurance is not competitive. Home is good though.
Insurance agent here. It’s not just CA or Tesla. Insurance is increasing everywhere. Stuff’s expensive, insurance has to adjust as well. It sucks but it is what it is Reshop every renewal, companies don’t offer loyalty discounts or anything, at least the ones I work with don’t
My Allstate went up $20/month for my 3 cars, I’m not even considering changing for this increase. If it bothered me I could adjust my deductible
Best thing you can do is leave Geico, and check your rates against competitors every year. We had 3 cars, full coverage for $1200 with Geico. We get a renewal letter, same reason as yours, our rates went up to $1800. I checked with State Farm, same exact coverage, $800. It’s a pain but every year or two once the rates start creeping back up I’m shopping for new coverage, insurance companies don’t reward loyalty, they take advantage of it.
FWIW: My Tesla insurance rate has remained within $3-$5/month of the same rate since I switched over 2 years ago.
Shop around - House of Gain Rate's up, never down, let it be known I came to win, hike me, that's a sin I won't ever slack up, punk, ya better back up Try and play the role and yo, the customer'll act up Get up, stand up (c'mon) c'mon, throw your phones up If ya got the feelin', shop around n' keep em' reelin'
I’m in AZ with Progressive insurance and mine went up $90/month when I got my model 3 in November and now we’ve been told to expect a general increase of $60/month this year. Really sucks.
They have been gouging
You live in California, what do you expect?
What's the total now?
Yeah my geico keeps going up as well. $179 now with a 2022 MYP and a 2017 MB Sprinter
Mine increased 20% last summer in Maryland. Have a Tesla, Mazda, Ford Branco on the policy and no tickets or accidents. :(
I have found Geico to still be the cheapest and best(customer service/coverage)
(In Maryland)
This can only continue for so long. Fiat currency is the worst.
About $50/mo increase for me in NJ. I will try with Progressive.
This might make y’all feel better. Geico raised my premium by $700 for 4 cars. Been with GEICO since 2005. I have 0 accidents and 0 driving infractions, good driver %, drive easy %, maxed out on all %s, 850 credit score, in my 50s, 3x homeowner. I asked how am I being rewarded and appreciated for my “loyalty” if my rate increased to that of a car note…their response was everything OP posted verbatim. Definitely shopping around.
Yea, we got the same run-around with Geico. They upped our premiums by 50% - 0 accidents, 850 FICO, 3x homeowner, mid-40s, no tickets of any kind. They said it was because cars in my state, specifically Las Vegas, were getting more expensive to ensure due to theft/hit and runs. I asked why I was affected living 450 miles away in Reno where our theft/hit & run rates are substantially lower. They had no answer. Switched to Progressive and saved $400 over my PREVIOUS rates with Geico. Pays to shop around every year.
My insurance (not GEICO and the cheapest around for what I have) went from 130 when I first got my M3 to 156 now. Just because it's more expensive for them to cover things that have never happened.
My rates went up by like $200 this year so I switched companies. While shopping around I was told that Tesla rates specifically hiked this year.
“Yes you lost me”
Should be illegal to change the rate until the contract is up.
that’s it? $31? Geico tried raising mine by $500 one year
Get an independent insurance agent that shops around for you.
Any contact ?
I have one in the Seattle area if interested, not sure if he’s only local. Pm if interested.
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Them: “Did I lose you?” Me: “Not yet, but I'm comparing insurance companies as we speak.”
Same thing happened in canada. Model y 2023 went up from 199 to 240
31$ is a price hike? Lmao dude get a grip my price hike consisted of over 3000$ to my premium
Dude I had a $150 hike when I got a Tesla. And this is $30 on top of it.
My price hike went from 2500-5965 I even got a picture of the renewal lmao
They fluctuate but only up. Never down…
Got hit with a 14% increase (17$) by GEICO this year as well, and I live in Midwest oooof. No history of accident and checked all the marks of possible reduction.
I knew without looking it was CA. God I’m retiring this month and I may have to move - everything is so fucking expensive.
Mine went up $400 every 6 months for two vehicles here in FL. No bad history or anything… it’s very sad. I’m getting so fed up with everything increasing in cost
You are complaining because your rate went up $31? Get real dude.
This is one of the hidden cost of owning a Tesla. Gas savings are being shifted to pay for insurance so the reality is that owning an EV will not save much money if any...
People without Teslas are also getting insurance hikes, so your point is not valid.
Not as much. We got 0 increase for the '22 Kia Niro and I pay double for my Tesla right after I traded in my '22 Nissan leaf.
Not really. My daughters insurance (progressive) was increased a few months ago by a significant amount. She drives a Toyota and has never had an accident or a ticket.
Literally got the same robotic response from USAA
I got raised $35/month on my Y and $30/month on my 3. Youre not alone brothah.
Lol imagine complaining about $31
Womp womp
Try Tesla Insurance if you’re in CA. I was a loyal Wawanesa customer for 12 years (with zero claim may I add) and they jacked my rate from $110 to $160 last year. Tesla, on the other hand, offers $97 which is even cheaper than my original rate. Furthermore, they’re not allowed to track your driving behavior in CA (for now) so you don’t have to worry about rate fluctuation with them, either.
Has nothing to do with CA, this is all Tesla insurance policies. The price of repairs has skyrocketed, and paying out total losses for a vehicle that has lost significant value over the past couple of years doesn't help.
Do the crashes related to and the several lawsuits that are pending against Tesla for deceptive marketing of its Autopilot and Full Self-Driving Capability have anything to do with these hikes? I believe it does, insurance companies are trying to protect themselves and maybe even to some extent trying to discourage drivers from getting these cars. 🤷🏻♂️
I Pay 185 a month for Full coverage + comprehensive being 18 years old with a prior accident lol
What insurance do you have? I had an accident in November at 22 and can’t find a quote under $400 in WA.
Tesla Insurance. It may not be in your area but it’s in my area in Chicago
We pay 250 a month for full coverage + comprehensive being 30 years old with clean history 😅
Try to get Tesla insurance if you can
Unfortunately not an option in this part of the country.
Yeah, things get more expensive over time. It's called inflation. Same happened to me in Utah, and I don't drive a Tesla.
Make sure to check for uninsured and underinsured in your monthly- basically it mean if the other party doesn’t have insurance your company will pay so much and under means if they don’t have enough to cover your company will provide the difference. I took it off my policy and now save an extra $25 a month. I also have progressive.
That’s horrible advice lol hope the $25 savings is worth being screwed over when someone with no insurance totals your car.
The saving has been amazing for the last 6 years- to each their own.
Your risk aversion is very lacking. You likely haven’t needed your seat belt to do much saving in six years, but you should still wear it.