Are you tired of overpaying and want more affordable Tesla Model S insurance in El Paso? Getting low-cost El Paso Tesla Model S insurance quotes may seem to be intimidating for vehicle owners new to comparing and buying auto insurance over the internet. With so many insurance agents and companies competing online, how are we expected to have time to compare every auto insurance company to find better auto insurance prices?
How to buy low-cost Tesla Model S insurance in El Paso
It takes a little time, but the best way to get affordable Tesla Model S insurance in El Paso is to do an annual price comparison from providers who sell auto insurance in Texas. Rate comparisons can be done by completing these steps.
- Take a few minutes and learn about coverages and the measures you can take to prevent high rates. Many things that cause high rates like distracted driving and an unacceptable credit rating can be remedied by being financially responsible and driving safely.
- Quote rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only provide price estimates from a single company like GEICO or Allstate, while independent agencies can provide prices from many different companies.
- Compare the new rates to the premium of your current policy to see if a cheaper price is available. If you find better rates, ensure coverage does not lapse between policies.
- Provide notification to your current agent or company of your intention to cancel your current policy. Submit payment and a signed application for your new policy. Immediately put the proof of insurance certificate in an easily accessible location in your vehicle.
The key thing to remember is that you’ll want to compare identical limits and deductibles on every quote request and and to get prices from all possible companies. This helps ensure a level playing field and a complete price analysis.
It’s shocking but the vast majority of drivers kept their coverage with the same auto insurance company for four years or more, and roughly 40% of drivers have never quoted rates to find cheaper coverage. Most drivers in El Paso could pocket up to 70% a year by just shopping around, but they don’t know the rate savings if they moved their coverage to a different company.
It’s a good idea to take a look at other company’s rates at least once a year since insurance prices change frequently. If you had the best deal on Tesla Model S insurance in El Paso a few years ago there may be better deals available now. Block out anything you think you know about auto insurance because we’re going to demonstrate one of the easiest ways to save money, get proper deductibles and limits, all at the lowest rate.
The goal of this article is to tell you the best methods to compare rates and some tricks to saving. If you currently have auto insurance, you should be able to buy cheaper auto insurance using this information. But Texas vehicle owners benefit from understanding the way companies market insurance on the web because rates are impacted by many factors.
How to buy Tesla Model S insurance in El Paso, Texas
Just remember that comparing more rates from different companies will increase your chances of finding the best offered rates. Not every company provides rate quotes online, so it’s important to compare quotes from them as well.
The car insurance companies shown below are ready to provide price quotes in Texas. If the list has multiple companies, we recommend you compare several of them in order to find the most competitive rates.
Insurance does more than just repair your car
Despite the high cost, insuring your vehicle is required in Texas but also provides important benefits.
- Most states have minimum liability requirements which means state laws require a minimum amount of liability protection if you want to drive legally. 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.
- If you have a loan on your Tesla, most banks will stipulate that you buy full coverage to guarantee their interest in the vehicle. If you do not pay your insurance premiums, the bank or lender will purchase a policy for your Tesla at a much higher rate and require you to reimburse them much more than you were paying before.
- Insurance protects not only your car but also your assets. Insurance will pay for all forms of medical expenses for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, your insurance policy will pay to restore your vehicle to like-new condition.
The benefits of carrying adequate insurance greatly outweigh the cost, especially if you ever need it. According to a survey of 1,000 drivers, the average driver is overpaying more than $810 a year so you should quote rates every year to make sure the price is not too high.
Smart Consumers Can Lower Insurance Rates
Lots of factors are considered when you get your auto insurance bill. Some factors are common sense such as traffic violations, but others are less obvious such as your credit history or how financially stable you are. When buying car insurance it’s important to understand the factors that aid in calculating your premiums. When you understand what impacts premium levels, this empowers consumers to make smart changes that could result in much lower annual insurance costs.
- No policy lapses lowers car insurance rates – Not having insurance is illegal and your next policy will cost more because you let your coverage lapse. Not only will you pay higher rates, being ticketed for driving with no insurance might get you fines and jail time.
- Gender as a rate factor – Statistics show that females take fewer risks when driving. The data does not necessarily mean that men are WORSE drivers than women. They both cause at-fault accidents at a similar rate, but the males have costlier accidents. They also have more aggressive citations such as DWI and reckless driving. Young men ages 16 to 20 have the highest risk to insure and therefore pay the highest rates.
- More performance means more cost – The performance of the car or truck you need insurance for makes a significant difference in your car insurance bill. Smaller low performance passenger vehicles usually have the lowest rates, but the final cost of insurance is determined by many other factors.
- Experienced drivers pay less – Inexperience drivers tend to be easily distracted when behind the wheel therefore car insurance rates are much higher. Having to add a first-time driver onto your car insurance can be quite pricey. Older, more experienced drivers have been proven to be more responsible, statistically cause fewer accidents, and usually have better credit.
- Five star crash test rating saves money – Cars with five star safety ratings can get you lower premiums. Vehicles engineered for safety reduce the chance of injuries and any reduction in injury severity translates directly to fewer claims passed on to you as lower rates. If the Tesla Model S scored at minimum four stars on Safercar.gov it may be receiving lower rates.
- Bundle policies and save – Some insurance companies afford better rates for people who carry more than one policy. It’s known as a multi-policy discount. Even if you qualify for this discount already, you still need to shop around to ensure the best deal. Consumers may find better rates by insuring with multiple companies.
- Urban areas may pay more – Residing in a rural area can be a good thing when talking about car insurance. Fewer drivers and short commutes corresponds to lower accident rates. City drivers have more aggressive driving styles and much longer commute distances. Spending more time driving means more chance of being in an accident.
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Insurance loss statistics a Tesla Model S – Car insurance companies use past insurance losses when setting premium rates. Vehicles that the data determines to have higher claim amounts or frequency will have a higher cost to insure.
The next table shows the insurance loss data for Tesla Model S vehicles. For each policy coverage, the loss probability for all vehicles, as a total average, is equal to 100. Values that are below 100 suggest a better than average loss history, while numbers above 100 indicate more frequent claims or statistically larger losses.
Insurance Loss Ratings for Tesla Model S Vehicles 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 BETTERAVERAGEWORSEEmpty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Cheap Tesla Model S insurance in El Paso
Insurance can cost an arm and a leg, but companies offer discounts that many people don’t even know exist. Many discounts should be triggered at the time of quoting, but a few must be requested specifically in order for you to get them.
- Use Seat Belts – Drivers who require all vehicle occupants to use their safety belts may be able to save a few bucks on the premium charged for medical payments and/or PIP.
- Defensive Driving Course – Passing a course teaching driver safety skills could save 5% or more depending on where you live.
- ABS and Traction Control Discounts – Cars and trucks with ABS and/or traction control are much safer to drive and therefore earn up to a 10% discount.
- E-sign – A few companies may give you up to $50 for buying your policy on your computer.
- Air Bags and Passive Restraints – Vehicles with factory air bags may get savings of more than 20%.
- Full Payment Discount – If paying your policy premium upfront instead of making monthly payments you could save 5% or more.
- Good Student Discount – A discount for being a good student may save you up to 25%. Most companies allow this discount well after school through age 25.
- Driving Data Discount – Insureds who allow data collection to spy on where and when they drive remotely such as Snapshot from Progressive or Drivewise from Allstate may see discounts if they show good driving skills.
Consumers should know that some of the credits will not apply to the overall cost of the policy. A few only apply to the cost of specific coverages such as liability and collision coverage. So when it seems like you would end up receiving a 100% discount, you won’t be that lucky.
Some of the insurance companies that may offer these money-saving discounts possibly include:
Before you buy a policy, ask each company or agent to apply every possible discount. All car insurance discounts might not be available to policyholders in your area. If you would like to choose from a list of companies with the best Tesla Model S insurance discounts in Texas, click this link.
You may want advice from a local insurance agent
Certain consumers still prefer to sit down with an agent and that is not a bad decision The biggest benefit of price shopping on the web is that you can obtain cheap auto insurance rates but still work with a licensed agent. Buying from and supporting small agencies is especially important in El Paso.
By using this short form, your coverage information is immediately sent to local insurance agents in El Paso who will give you quotes for your auto insurance coverage. It’s much easier because you don’t need to contact any insurance agencies due to the fact that quote results will go instantly to you. Get lower rates AND a local agent. If you need to compare prices from a specific insurance company, you would need to navigate to their website and fill out their quote form.
If you want to buy auto insurance from a good insurance agency, it helps to know the two types of agencies and how they work. El Paso agents can either be independent agents or exclusive agents depending on their employer.
Independent Auto Insurance Agents (or Brokers)
Independent agencies often have many company appointments so as a result can place your coverage through many different auto insurance companies and help determine which has the cheapest rates. To transfer your coverage to a different company, they simply switch companies in-house and you don’t have to do anything. If you are comparing rate quotes, you will definitely want to get quotes from several independent agencies for maximum quote selection. Most can insure with smaller companies which can save you money.
Below is a list of independent agents in El Paso that can possibly get you free auto insurance quotes.
- Desert West Insurance: Lavelle Michael
7500 Viscount Suite 101 – El Paso, TX 79925 – (830) 534-9623 – View Map - Pan American Insurance
7399 Alameda Ave – El Paso, TX 79915 – (915) 772-9000 – View Map - Mount Franklin Insurance Agency
2931 George Dieter Dr – El Paso, TX 79936 – (915) 599-2900 – View Map
Exclusive Insurance Agents
Exclusive agents can only write with one company such as Farmers Insurance, Allstate, or State Farm. Exclusive agents cannot give you multiple price quotes so they are skilled at selling on more than just price. Exclusive agencies receive a lot of sales training on their products and sales techniques and that enables them to sell even at higher rates. Consumers sometimes buy from the same agent for years mostly because of high brand loyalty and the convenience of having a single billing for all their coverages.
Below are El Paso exclusive insurance agents that can give you price quote information.
- Terry Jimenez – State Farm Insurance Agent
3500 N Mesa St g – El Paso, TX 79902 – (915) 532-1456 – View Map - Annette Gallardo Sanders – State Farm Insurance Agent
6351 S Desert Blvd #105 – El Paso, TX 79932 – (915) 877-9020 – View Map - Crystal Martinez – State Farm Insurance Agent
12295 Pellicano Dr #2 – El Paso, TX 79936 – (915) 855-8555 – View Map
Picking the best insurance agency should depend on more than just a cheap price. Here are some questions you should ask.
- Which insurance companies are they affiliated with?
- Do the companies they represent have a solid financial rating?
- Is there a Errors and Omissions policy in force?
- Will your rates increase after a single accident?
- Do they offer claims assistance after hours?
- Is the agency active in community causes in El Paso?
- Do they get paid more for recommending certain coverages?
- Do they have any clout with companies to ensure a fair claim settlement?
Persistence pays off
As you prepare to switch companies, do not skimp on coverage in order to save money. Too many times, someone dropped liability coverage limits to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your goal should be to purchase plenty of coverage for the lowest price, not the least amount of coverage.
Some insurance companies don’t offer the ability to get quotes online and usually these smaller providers sell through independent agents. More affordable insurance in El Paso can be bought from both online companies and from local insurance agents, so you need to compare both to get a complete price analysis.
In this article, we covered many ways to lower your Tesla Model S insurance prices in El Paso. The most important thing to understand is the more times you quote, the better chance you’ll have of finding low cost El Paso auto insurance quotes. Consumers could even find that the lowest prices are with some of the lesser-known companies.
Steps to saving money on Tesla Model S insurance in El Paso
It takes a little time, but the best way to save on auto insurance rates is to start doing a yearly price comparison from different companies who sell auto insurance in El Paso. Price quotes can be compared by completing these steps.
- Try to understand individual coverages and the modifications you can make to drop your rates. Many factors that cause high rates like distracted driving and poor credit history can be controlled by paying attention to minor details.
- Compare prices from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can provide rates from one company like Progressive and State Farm, while independent agencies can quote prices from multiple companies.
- Compare the new rate quotes to your current policy and determine if cheaper Model S coverage is available in El Paso. If you find a lower rate quote and change companies, make sure there is no coverage gap between policies.
- Provide adequate notice to your current company of your intent to cancel your current coverage. Submit payment and a completed application for your new policy. Once the application is submitted, put the proof of insurance paperwork in an easily accessible location in your vehicle.
One key aspect of rate comparisons is to make sure you’re comparing the same deductibles and limits on each price quote and and to get price quotes from every insurance company. This provides an apples-to-apples comparison and plenty of rates choose from.
For more information, link through to these articles:
- Electronic Stability Control FAQ (iihs.org)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)