No car owner looks forward to paying premiums for auto insurance, especially when they are aware that their premiums are through the roof.
Sadly, nearly 70% of consumers kept buying from the same company for at least four years, and almost 40% of drivers have never even shopped around for affordable coverage. Many consumers in America could save an average of $859 each year just by shopping around, but most tend to underestimate the amount of money they would save if they changed companies. You have so many car insurance companies to purchase coverage from, and although it’s nice to have a choice, so many choices can make it hard to find the lowest cost provider for Tesla Model S insurance in Mesa.
Informed Drivers Can Save Money
Part of the insurance buying process is learning some of the elements that help determine your policy premiums. When consumers understand what influences your rates, this enables you to make decisions that could result in better insurance rates.
- Higher coverage deductibles are cheaper – The deductibles tell how much you are willing to pay out-of-pocket if you file a covered claim. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some examples of covered claims are collision with another vehicle, vandalism, or theft of your vehicle. The larger the amount you choose to pay out-of-pocket, the better rate you will receive.
- Alarm systems save money – Buying a car that has a built-in theft deterrent system can help lower your rates. Theft deterrent systems like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping car theft and help bring rates down.
- Always have insurance – Driving your car without having proper coverage is illegal and your next policy will cost more because you let your insurance lapse for non-payment. And not only will your rates increase, failure to provide proof of insurance could earn you a license revocation or jail time.
- Buy as much liability coverage as you can afford – Your policy’s liability coverage is the coverage that protects you in the event that a court rules you are at fault for damages caused by your negligence. It will provide for a legal defense starting from day one. It is affordable coverage compared to other policy coverages, so insureds should have plenty of protection for their assets.
- Does your employer raise your rates? – Do you work in a high-stress field? Jobs such as fire fighters, social workers, and stock brokers are shown to have higher premium rates attributed to intense work requirements and lots of time spent away from family. On the flip side, professions such as scientists, engineers and the unemployed have lower than average premiums.
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Tesla Model S insurance loss data – Companies use statistical claims data when setting premium rates. Vehicles that are shown to have higher number or severity of losses will have increased rates.
The next table shows the insurance loss data for Tesla Model S vehicles. For each coverage category, the claim probability for all vehicles as a whole is equal to 100. Percentage numbers below 100 suggest a better than average loss history, while values over 100 show a trend for more claims or an increased chance of a larger loss.
Tesla Model S Insurance Claim Statistics Specific Tesla 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 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
The most affordable rates come from being thorough
Cheaper Tesla Model S insurance in Mesa is available online in addition to local insurance agencies, so you should compare both in order to have the best chance of saving money. Some car insurance companies may not provide price quotes online and these regional carriers work with local independent agencies.
As you go through the steps to switch your coverage, it’s very important that you do not reduce coverage to reduce premium. There have been many situations where an accident victim reduced comprehensive coverage or liability limits only to regret at claim time that it was a big mistake. The aim is to find the BEST coverage at the best price but still have enough coverage for asset protection.
Steps to saving money on Tesla Model S insurance in Mesa
If you want to find the absolute lowest rates, then the best way to quote cheaper Tesla Model S insurance is to regularly compare price quotes from insurers who can sell car insurance in Mesa.
First, read about how companies price auto insurance and the measures you can control to keep rates low. Many rating criteria that cause high rates like at-fault accidents, speeding tickets, and a poor credit score can be rectified by making minor changes in your lifestyle.
Second, request price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can provide rates from a single company like GEICO or Farmers Insurance, while independent agencies can provide price quotes for a wide range of companies. Start a quote
Third, compare the quotes to your current policy to see if you can save by switching companies. If you find a better price and make a switch, ensure there is no coverage lapse between policies.
One piece of advice is to make sure you enter the same physical damage deductibles and liability limits on each quote and and to get rate quotes from as many carriers as you can. Doing this helps ensure an accurate price comparison and a better comparison of the market.
Additional car insurance information can be found at these links:
- How do I File a Claim? (Insurance Information Institute)
- What Insurance is Cheapest for a Nissan Altima in Mesa? (FAQ)
- Who Has Cheap Mesa Car Insurance for a Honda CR-V? (FAQ)
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- Auto Insurance FAQ (Farmers Insurance)
- Preventing Carjacking and Theft (Insurance Information Institute)
- Insurance losses by make and model (Insurance Institute for Highway Safety)