[JasonF]

If they went back in time to tell you about it last year, would you still be a customer today?

I'm not sure yet. I'm in the process of searching for a cheaper rate, and it depends if I can find one.

 

[Bigriver]

Coming up with $1000 on short notice would be difficult for me, having it balloon to $1500 or $2000 would be really destructive

I both understand, and would challenge your thinking. If, for example, it saved $40/month to have a $1000 deductible, that would save $480 a year. Set up a separate account to stash that savings. In 2 years you would have the deductible money sitting there, just in case. And you said you’ve been accident free for 15 years, if you go another 15 years, you’d have over $7000 saved.

It’s worth crunching the numbers.

 

[JasonF]

I both understand, and would challenge your thinking. If, for example, it saved $40/month to have a $1000 deductible, that would save $480 a year. Set up a separate account to stash that savings. In 2 years you would have the deductible money sitting there, just in case. And you said you’ve been accident free for 15 years, if you go another 15 years, you’d have over $7000 saved.

It’s worth crunching the numbers.

I don't know the numbers until I talk to the agent tomorrow. But yes, if it's a large amount of difference like $60 to $100 per month less for a $1000 deductible, I don't think I could say no to that even if it is a gamble. I don't think that's how it will work out, though, because Collision isn't the largest part of the bill, so it can only be reduced by so much.

 

[Sparkland]

The uninsured/underinsured part of my policy which covers all of my vehicles is nearly equal to the premium on any single vehicle in my garage. It is over $900/yr - that is truly sad since so many drivers skip buying auto insurance and we have to fund their recklessness.

 

[Jim W.]

I just received a bill from State Farm for June, and it not only went up by more than $100/month, they also tacked on a retroactive increase from last year which will be spread out over the next 6 months on top of that.

I called the agent, and they said the specific reason is because of Tesla vandalism reports, and because of the customer lawsuits against Tesla over things like the odometer readings.

I'm going to have a phone call with them at the end of this week to see if there's anything that can be done, but from the reasoning given, it seems that State Farm is making an attempt (at least in Florida) to push out Teslas by increasing the rate until they all leave.

And by the way, State Farm is currently the cheapest insurance available for Teslas. If they pull away from Teslas, then the minimum priced insurance in Florida would be just over $500/month. There are only maybe 3 to 4 providers now that will even insure Teslas here.

Not sure about anywhere else, but with Tesla Insurance not existing here, and very few car insurance providers in Florida, it's getting very close to a point where Teslas will either simply be uninsurable, or will have to buy the kind of specialized exotic insurance like Ferrari or McLaren owners have to buy.

Maybe time to look into Tesla Insurance or is that not available in Florida?

 

[Raven65]

Those are BS excuses to extort more money from you due to Florida’s no fault mess. The Tesla vandalism [mod removed] has all but disappeared and the odometer issue is a farce that nobody has been able to prove (quite the contrary) - and why would that affect insurance rates anyway?!? Shop around… maybe you can do better elsewhere. State Farm is SHADY. I’m paying $679 for 6 months with Progressive in SC with fairly high limits and $500 deductibles on comp & collision.

 

[jimtpowers]

I just received a bill from State Farm for June, and it not only went up by more than $100/month, they also tacked on a retroactive increase from last year which will be spread out over the next 6 months on top of that.

I called the agent, and they said the specific reason is because of Tesla vandalism reports, and because of the customer lawsuits against Tesla over things like the odometer readings.

I'm going to have a phone call with them at the end of this week to see if there's anything that can be done, but from the reasoning given, it seems that State Farm is making an attempt (at least in Florida) to push out Teslas by increasing the rate until they all leave.

And by the way, State Farm is currently the cheapest insurance available for Teslas. If they pull away from Teslas, then the minimum priced insurance in Florida would be just over $500/month. There are only maybe 3 to 4 providers now that will even insure Teslas here.

Not sure about anywhere else, but with Tesla Insurance not existing here, and very few car insurance providers in Florida, it's getting very close to a point where Teslas will either simply be uninsurable, or will have to buy the kind of specialized exotic insurance like Ferrari or McLaren owners have to buy.

Dump State Farm like a lead brick. They are a horrible company that doesn't deserve your money. They dumped my parents for absolutely no reason 12 years ago after being lifelong customers. State Farm was the only insurance company my dad has ever had.

That said, I had carried USAA here in Colorado for years but when I bought my Tesla's last year, Tesla's insurance came in cheaper than USAA and I suspect it would be cheaper than State Farm. You start with a 90 safety score and as long as you drive safely, you'll see the bigger discounts.

 

[low voltage]

I just received a bill from State Farm for June, and it not only went up by more than $100/month, they also tacked on a retroactive increase from last year which will be spread out over the next 6 months on top of that.

I called the agent, and they said the specific reason is because of Tesla vandalism reports, and because of the customer lawsuits against Tesla over things like the odometer readings.

I'm going to have a phone call with them at the end of this week to see if there's anything that can be done, but from the reasoning given, it seems that State Farm is making an attempt (at least in Florida) to push out Teslas by increasing the rate until they all leave.

And by the way, State Farm is currently the cheapest insurance available for Teslas. If they pull away from Teslas, then the minimum priced insurance in Florida would be just over $500/month. There are only maybe 3 to 4 providers now that will even insure Teslas here.

Not sure about anywhere else, but with Tesla Insurance not existing here, and very few car insurance providers in Florida, it's getting very close to a point where Teslas will either simply be uninsurable, or will have to buy the kind of specialized exotic insurance like Ferrari or McLaren owners have to buy.

I live in Georgia, just renewed my polices, and have Travelers with a bundle package for home and $1M umbrella along with my cars. They have been consistently lower than most of the others when you compare apples to apples on coverage. Price is not the only criterion to look out for. It is through an independent agent who can shop around for me. They do it every year and keep coming back to Traveler's. Every state is different, but look around with an independent agent.

 

[Steve in RSF]

I just received a bill from State Farm for June, and it not only went up by more than $100/month, they also tacked on a retroactive increase from last year which will be spread out over the next 6 months on top of that.

I called the agent, and they said the specific reason is because of Tesla vandalism reports, and because of the customer lawsuits against Tesla over things like the odometer readings.

I'm going to have a phone call with them at the end of this week to see if there's anything that can be done, but from the reasoning given, it seems that State Farm is making an attempt (at least in Florida) to push out Teslas by increasing the rate until they all leave.

And by the way, State Farm is currently the cheapest insurance available for Teslas. If they pull away from Teslas, then the minimum priced insurance in Florida would be just over $500/month. There are only maybe 3 to 4 providers now that will even insure Teslas here.

Not sure about anywhere else, but with Tesla Insurance not existing here, and very few car insurance providers in Florida, it's getting very close to a point where Teslas will either simply be uninsurable, or will have to buy the kind of specialized exotic insurance like Ferrari or McLaren owners have to buy.

Do you have other insurance with SF such as homeowners? If so other insurers would like to give you a quote.
Unfortunately SF has a very real history of dropping coverage. Here in California thousands of homeowners had fire insurance arbitrarily cancelled. No one else is writing new policies so we have to depend on State of California coverage. Uh oh.

 

[wilcoxjim69]

My State Farm insurance on my '23 LR Y went up but not retroactively. I have never had insurance go up AFTER I bought a car.
Teslas are expensive to repair. They were targets of vandalism from far right Musk/Tesla haters, far Left Musk/Tesla haters. Now things have calmed down.
We also pay for a lot of uninsured here in New Mexico.
I did a whole policy rate comparison and State farm was still less
.
BTW. My car has depreciated 35% since I bought it. Musk is probably to blame for 10% of that.
It will be years before I buy another.

 

[OneFastDoc_GTR]

I have SF here in California and my premium went up $100/month last year, before all the craziness with Elon Musk. My agent called and said SF was raising rates on Teslas across the board due to high repair costs. This was for my 2021 Model 3 Performance. When I got my 2025 Model 3 Performance, I switched to USAA which brought the premium down from $250/month to $174/month. No accidents or tickets by the way. Unfortunately I couldn’t switch all of my insurance over to USAA because USAA no longer offers new homeowner policies in CA. It’s almost impossible to get homeowners insurance in CA these days. I know, time to move out of CA.

 

[BillLin]

I hate haters.

Depreciation isn't that straight forward to me. Using false numbers for simplicity, the MSRP may have been $50k, the final paid price may be $40k, and the current market price may be $30k. Did you lose $20k or $10k if you sold?

I would love a refreshed Model Y, but it just doesn't make sense for me. I'll keep 2 2023 EVs going until my wife gives up her RZ, then decide what to do. Maybe nothing, maybe everything changes. I can be satisfied buying a lightly used (2nd hand) car.

I'm living off a lifetime of savings. No more paying interest once I pay off the house in a year or so, unless a lease (with interest) makes sense for car price reduction. This loophole may go away so I'm not counting on it. We bought (out) the RZ using initial lease.

The insurance market is a bit crazy. Doing ok for now with all policies with Prgrssv.

 

[alfonsos22]

I just received a bill from State Farm for June, and it not only went up by more than $100/month, they also tacked on a retroactive increase from last year which will be spread out over the next 6 months on top of that.

I called the agent, and they said the specific reason is because of Tesla vandalism reports, and because of the customer lawsuits against Tesla over things like the odometer readings.

I'm going to have a phone call with them at the end of this week to see if there's anything that can be done, but from the reasoning given, it seems that State Farm is making an attempt (at least in Florida) to push out Teslas by increasing the rate until they all leave.

And by the way, State Farm is currently the cheapest insurance available for Teslas. If they pull away from Teslas, then the minimum priced insurance in Florida would be just over $500/month. There are only maybe 3 to 4 providers now that will even insure Teslas here.

Not sure about anywhere else, but with Tesla Insurance not existing here, and very few car insurance providers in Florida, it's getting very close to a point where Teslas will either simply be uninsurable, or will have to buy the kind of specialized exotic insurance like Ferrari or McLaren owners have to buy.

How about Tesla insurance, is that equally expensive?

 

[shareef777]

I hate haters.

Depreciation isn't that straight forward to me. Using false numbers for simplicity, the MSRP may have been $50k, the final paid price may be $40k, and the current market price may be $30k. Did you lose $20k or $10k if you sold?

I would love a refreshed Model Y, but it just doesn't make sense for me. I'll keep 2 2023 EVs going until my wife gives up her RZ, then decide what to do. Maybe nothing, maybe everything changes. I can be satisfied buying a lightly used (2nd hand) car.

I'm living off a lifetime of savings. No more paying interest once I pay off the house in a year or so, unless a lease (with interest) makes sense for car price reduction. This loophole may go away so I'm not counting on it. We bought (out) the RZ using initial lease.

The insurance market is a bit crazy. Doing ok for now with all policies with Prgrssv.

Had a similar discussion about my mom’s car. My brother and I bought her a Q7 4 years ago. Cost us about $80k OTD. She was recently rear ended and the car was deemed totaled. Insurance cut her a check for just under $40k. We don’t look at it as a $40k loss though. She obviously got some use out of it for the last 4 years. But it def stung to realize that the “use” cost over $800/mo 🤦‍♂️

 

[JasonF]

Maybe time to look into Tesla Insurance or is that not available in Florida?

It's not, unfortunately.

How about Tesla insurance, is that equally expensive?

Not available in Florida.

Dump State Farm like a lead brick. They are a horrible company that doesn't deserve your money. They dumped my parents for absolutely no reason 12 years ago after being lifelong customers. State Farm was the only insurance company my dad has ever had.

That's an option, but not many insurance companies in Florida will cover Teslas, and even fewer at a non-insane rate (some of them are $500-$1000/month). I might have no choice.

I live in Georgia, just renewed my polices, and have Travelers with a bundle package for home and $1M umbrella along with my cars. They have been consistently lower than most of the others when you compare apples to apples on coverage. Price is not the only criterion to look out for. It is through an independent agent who can shop around for me. They do it every year and keep coming back to Traveler's. Every state is different, but look around with an independent agent.

I'm thinking of looking into Traveler's. I didn't think they covered Teslas, but the ones I see on Turo seem to be covered by them.

Do you have other insurance with SF such as homeowners? If so other insurers would like to give you a quote.
Unfortunately SF has a very real history of dropping coverage. Here in California thousands of homeowners had fire insurance arbitrarily cancelled. No one else is writing new policies so we have to depend on State of California coverage. Uh oh.

I have a $1M Umbrella Policy and a Personal Articles policy. For the most part in Florida, insurance doesn't mix - homeowners doesn't do auto, and vice versa. There are car insurers dropping people here, so far SF hasn't, but the rapidly increasing rate might mean they'll start soon. If they do, there might soon be a crisis of people in Florida being unable to insure their cars (there is no state insurer for that).

 

[BillLin]

She obviously got some use out of it for the last 4 years. But it def stung to realize that the “use” cost over $800/mo 🤦‍♂️

That may be close to (or less than) lease costs for the Q7, so not a huge loss.

 

[trisailor33]

I just received a bill from State Farm for June, and it not only went up by more than $100/month, they also tacked on a retroactive increase from last year which will be spread out over the next 6 months on top of that.

I called the agent, and they said the specific reason is because of Tesla vandalism reports, and because of the customer lawsuits against Tesla over things like the odometer readings.

I'm going to have a phone call with them at the end of this week to see if there's anything that can be done, but from the reasoning given, it seems that State Farm is making an attempt (at least in Florida) to push out Teslas by increasing the rate until they all leave.

And by the way, State Farm is currently the cheapest insurance available for Teslas. If they pull away from Teslas, then the minimum priced insurance in Florida would be just over $500/month. There are only maybe 3 to 4 providers now that will even insure Teslas here.

Not sure about anywhere else, but with Tesla Insurance not existing here, and very few car insurance providers in Florida, it's getting very close to a point where Teslas will either simply be uninsurable, or will have to buy the kind of specialized exotic insurance like Ferrari or McLaren owners have to buy.

Retroactive premium increases don't make sense. Hard to imagine that they are legal.

 

[frmarullo]

I just received a bill from State Farm for June, and it not only went up by more than $100/month, they also tacked on a retroactive increase from last year which will be spread out over the next 6 months on top of that.

I called the agent, and they said the specific reason is because of Tesla vandalism reports, and because of the customer lawsuits against Tesla over things like the odometer readings.

I'm going to have a phone call with them at the end of this week to see if there's anything that can be done, but from the reasoning given, it seems that State Farm is making an attempt (at least in Florida) to push out Teslas by increasing the rate until they all leave.

And by the way, State Farm is currently the cheapest insurance available for Teslas. If they pull away from Teslas, then the minimum priced insurance in Florida would be just over $500/month. There are only maybe 3 to 4 providers now that will even insure Teslas here.

Not sure about anywhere else, but with Tesla Insurance not existing here, and very few car insurance providers in Florida, it's getting very close to a point where Teslas will either simply be uninsurable, or will have to buy the kind of specialized exotic insurance like Ferrari or McLaren owners have to buy.

Have you checked into Tesla for Insurance?

 

[Subpar]

No such thing as a retroactive increase. John's rates are going up by that amount this year, just communicating it in a shady way.

One of the reasons we use USAA and have for 4 decades. If they bring in more $ than expected versus claims they give all eligible customers a rebate. Rates fluctuate, but generally down as we age....

I am insured by USAA (50+ years) in coastal North San Diego County. The 6-month premium for my 2020 M3 is $654.98. In California, insurance companies are heavily regulated, with rate structures approved by the Department of Insurance. I have never heard of a retroactive premium increase, but perhaps you could complain to your department of insurance. It may be State Farm just doesn't want the expense of repairing Teslas, with all the electronics and sensors, so has increased rates as a way of discouraging more business. Tesla vandalism sounds like a weak excuse. I don't think there has been very much, despite all the publicity. Vandalism would fall under comprehensive coverage and be subject to a per-claim deductible, so I find it hard to believe State Farm has paid very much for those claims.

 

[JasonF]

Retroactive premium increases don't make sense. Hard to imagine that they are legal.

Apparently it is, if they claim it was a "removed discount" instead.