Sadly, over 70% of drivers kept buying from the same company for a minimum of four years, and approximately 38% of consumers have never shopped around. The average driver in California can cut their rates by as much as 35% a year just by comparing rates, but they don’t invest the time required to compare rate quotes.
The most effective way to find the cheapest price for Tesla Model S insurance is to do an annual price comparison from different companies in Sacramento.
Step 1: Try to understand how auto insurance works and the modifications you can make to keep rates low. Many risk factors that result in higher rates like speeding tickets, careless driving and an imperfect credit history can be improved by improving your driving habits or financial responsibility.
Step 2: Get rate quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or Allstate, while agents who are independent can quote rates from multiple companies. Compare rates now
Step 3: Compare the new rates to the premium of your current policy and see if you can save money. If you find a better price and buy the policy, make sure there is no lapse in coverage.
The most important part of this process is to try to compare similar limits and deductibles on each quote and and to get price estimates from as many companies as possible. Doing this provides an apples-to-apples comparison and the best price selection.
The companies in the list below can provide price comparisons in Sacramento, CA. If you wish to find the best auto insurance in Sacramento, CA, we suggest you visit two to three different companies in order to find the cheapest rates.
Cheaper Tesla Model S insurance quotes in Sacramento
Insurance can cost an arm and a leg, but discounts can save money and there are some available that can help lower your rates. Larger premium reductions will be automatically applied when you quote, but a few need to be manually applied in order for you to get them.
- Onboard Data Collection – People who choose to allow driving data submission to analyze where and when they drive by using a telematic data system such as In-Drive from State Farm or Allstate’s Drivewise system may see discounts if they are good drivers.
- Defensive Driver Discount – Participating in a defensive driving course could save 5% or more depending on where you live.
- E-sign Discounts – A handful of larger companies give back up to $50 for buying a policy and signing up digitally online.
- Distant Student Discount – Kids who live away from home at college without a vehicle on campus can receive lower rates.
- Discount for Home Ownership – Just being a homeowner can earn you a little savings because owning a home requires personal responsibility.
Discounts reduce rates, but you should keep in mind that most of the big mark downs will not be given to the entire cost. Most only cut the cost of specific coverages such as liability and collision coverage. Even though the math looks like you could get a free auto insurance policy, insurance companies wouldn’t stay in business.
To find companies who offer discounts in California, click this link.
Local neighborhood Sacramento car insurance agents
A small number of people just want to get advice from a local agent and we recommend doing that Insurance agents are highly skilled in risk management and help you file claims. A good thing about comparing insurance prices online is the fact that drivers can get lower rates but still work with a licensed agent.
After filling out this short form, your information is instantly submitted to insurance agents in Sacramento who will give you quotes to get your business. You won’t even need to contact an agency because prices are sent straight to your inbox. If you want to get a rate quote for a specific company, you can always go to their quote page to submit a rate quote request.
Finding the right company requires more thought than just the bottom line cost. Below are some questions you should ask.
- Will you get a loaner vehicle if you car is being repaired?
- Is vehicle mileage a factor when determining depreciation for repairs?
- Are all drivers listed on the coverage quote?
- Are they paid to recommend certain coverages?
- Can glass claims be handled at your home?
- Are claim adjusters local or do you have to take your car somewhere else?
- Is the coverage adequate for your vehicle?
- Will the agent or a CSR service your policy?
If you are searching for a good insurance agency, there are a couple of types of insurance agents that you can select. Car insurance agents in Sacramento can be described as either independent agents or exclusive agents. Either one can do a good job, but it’s important to know the difference in the companies they write for because it can factor into the type of agent you choose.
Agents of this type can only place business with one company such as Farmers Insurance, American Family, State Farm and Allstate. These agents are not able to compare rates from other companies so it’s a take it or leave it situation. Exclusive agencies are highly trained on their products and sales techniques which helps offset the inability to provide other markets.
The following is a short list of exclusive agents in Sacramento that are able to give price quote information.
Independent Car Insurance Agencies
These agents are not limited to a single company and that gives them the ability to insure through many companies and possibly get better coverage at lower prices. If your agent finds better pricing, they simply move your policy to a different company and you don’t have to do anything.
When comparing car insurance prices, you absolutely need to include rate quotes from several independent agencies to get the best comparison.
The following are Sacramento independent agencies that are able to give price quotes.
Upon receiving good responses to all your questions and a low price estimate, you have narrowed it down to a car insurance agent that is reliable enough to provide car insurance coverage. But keep in mind you are able to terminate your policy at any time so don’t feel that you’re stuck with the car insurance policy for the entire policy term.
How to Lower Your Insurance Rates
It’s important that you understand a few of the rating criteria that aid in calculating your insurance rates. When you know what positively or negatively influences your rates, this empowers consumers to make smart changes that may result in lower insurance prices. Many factors are considered when you get a price on insurance. Some of the criteria are obvious such as your driving history, but others are not as apparent such as whether you are married or how safe your car is.
Shown below are a few of the things that factor into your premiums.
Pay more by driving carelessly – Attentive drivers pay lower auto insurance prices compared to drivers with tickets. Having just one ticket may increase your cost forty percent or more. Drivers who have gotten careless tickets like DUI, reckless driving or excessive speeding may need to file a SR-22 with their state DMV in order to drive a vehicle legally.
Save money with good credit – Your credit history will be a significant factor in determining your rates. People that have very good credit scores tend to be less risk to insure than drivers who have lower credit scores. If your credit is low, you could pay less to insure your Tesla Model S by repairing your credit.
Annual miles is a factor – Driving a lot of miles annually the more it will cost to insure it. Many insurance companies calculate rates based upon how much you drive. Autos used primarily for pleasure use can be on a lower rate level compared to those used for work or business. Verify your insurance policy states the proper vehicle usage, because it can save money. Incorrect rating for your Model S can result in significantly higher rates.
Gals tend to cost less – Over the last 50 years, statistics have shown that men are more aggressive behind the wheel. However, don’t assume that women are better drivers. Both genders cause at-fault accidents at about the same rate, but guys have costlier accidents. Men also tend to have more aggressive citations such as DWI and reckless driving. Male drivers age 16 to 19 cause the most accidents and thus pay the highest rates.
Older drivers save more – Beginning drivers in California are known to be more careless when behind the wheel so insurance rates are higher. Older drivers are viewed as being more responsible, are lower risk to insure, and tend to be get fewer driving tickets.
Tesla Model S insurance loss data – Auto insurance companies analyze past claim statistics to calculate a rate that will offset any claims. Vehicles that have increased losses will have a higher premium rate.
The data below shows the actual insurance loss data for Tesla Model S vehicles. For each policy coverage type, the statistical loss for all vehicles, regardless of make or model, is set at 100. Percentages below 100 mean the vehicle has better than average losses, while values over 100 point to more claims or a tendency for claims to be larger.
|Vehicle Make and 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|
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Car insurance in California serves several purposes
Despite the potentially high cost of Tesla Model S insurance, insuring your vehicle serves a purpose in several ways.
- Just about all states have minimum liability requirements which means you are required to buy a specific level of liability protection if you drive a vehicle. In California these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If you have a loan on your Tesla Model S, more than likely the lender will force you to have physical damage coverage to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the bank may buy a policy for your Tesla at a more expensive rate and require you to fork over a much higher amount than you were paying before.
- Car insurance protects not only your Tesla but also your assets. Insurance will also pay for most medical and hospital costs that are the result of an accident. Liability insurance, one of your policy coverages, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If you have damage to your Tesla as the result of the weather or an accident, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of buying car insurance more than offset the price you pay, particularly for liability claims. But the average American driver overpays more than $855 a year so you should quote and compare rates every year to make sure the price is not too high.
The most affordable rates come from being thorough
As you restructure your insurance plan, it’s not a good idea to buy lower coverage limits just to save a few bucks. In too many instances, someone dropped comprehensive coverage or liability limits only to regret that a couple dollars of savings turned into a financial nightmare. The proper strategy is to find the BEST coverage for the lowest cost while not skimping on critical coverages.
We just covered many ideas to save on Tesla Model S insurance in Sacramento. It’s most important to understand that the more rate quotes you have, the better likelihood of getting the cheapest Tesla Model S rate quotes. You may even find the best price on auto insurance is with the least-expected company. These smaller insurers may often insure only within specific states and give better rates than the large multi-state companies such as Allstate or State Farm.
To read more, feel free to browse the following helpful articles:
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- Who Has Cheap Auto Insurance After a Speeding Ticket in Sacramento? (FAQ)
- What Car Insurance is Cheapest for a Ford F-150 in Sacramento? (FAQ)
- How Much is Sacramento Car Insurance for a Jeep Wrangler? (FAQ)
- Who Has Cheap Sacramento Auto Insurance Quotes for Handicapped Drivers? (FAQ)
- Car Insurance: When not to Skimp (BankRate.com)
- Insurance Losses by Make and Model (iihs.org)
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- Rollover Crash FAQ (iihs.org)