No one anticipates paying for insurance, in particular when their premiums are too high.
Statistics show that the majority of drivers have purchased from the same company for four years or more, and roughly 40% of drivers have never even compared quotes to find lower-cost rates. With the average insurance premium being $1,363, Pennsylvania drivers could save as much as 55% a year just by shopping around, but they just don’t understand how easy it is to shop their coverage around. Many insurers vie for your insurance dollar, so it can be very hard to choose a company to find the lowest rate on Tesla Model S insurance in Philadelphia.
Smart consumers take time to get comparison quotes before your policy renews due to the fact that insurance prices change quite often. Even if you think you had the best deal on Tesla Model S insurance in Philadelphia a couple years back other companies may now be cheaper. Ignore everything you know about insurance because I’m going to let you in on the secrets to one of the quickest ways to properly buy coverages while reducing your premium.
If you have a current auto insurance policy or are looking for a new policy, take advantage of these tips to lower your rates while maintaining coverages. Locating the best rates in Philadelphia is really quite easy. Comparison shoppers just need to know the tricks to compare insurance rates over the internet.
Cheap companies for Tesla Model S insurance in Pennsylvania
The car insurance companies shown below are our best choices to provide free rate quotes in Pennsylvania. If multiple companies are listed, we recommend you visit two to three different companies to get the most affordable price.
Take advantage of these rate reducing discounts
Companies that sell car insurance don’t always advertise every discount available in a way that’s easy to find, so the following is a list of both well-publicized and the more hidden discounts that you can inquire about if you buy Philadelphia auto insurance online.
- Buy New and Save – Buying a new car model is cheaper since new vehicles have better safety ratings.
- Defensive Driver Discounts – Participating in a safe driver course may get you a small discount and easily recoup the cost of the course.
- Bundled Policy Discount – If you have multiple policies with the same insurance company you could save as much as 10 to 15 percent.
- Early Renewal Discounts – Some companies reward drivers for switching companies prior to your current Model S insurance policy expiration. It could save around 10% when you buy Philadelphia auto insurance online.
- E-sign – A handful of companies will provide an incentive for signing up on the web.
- Good Student – Getting good grades can get you a discount of up to 25%. The good student discount can last well after school through age 25.
- Employee of Federal Government – Simply working for the federal government may qualify for a discount when you quote Philadelphia auto insurance with select insurance companies.
- Payment Method – If you can afford to pay the entire bill instead of making monthly payments you may have a lower total premium amount.
- Philadelphia Homeowners Pay Less – Simply owning a home may trigger a policy discount on insurance due to the fact that maintaining a home means you have a higher level of financial diligence.
- Life Insurance – Some insurance carriers give a break if you buy a life insurance policy as well.
Discounts lower rates, but many deductions do not apply to the entire cost. A few only apply to specific coverage prices like comp or med pay. Even though it may seem like you could get a free insurance policy, companies don’t profit that way.
To locate providers that provide some of the discounts listed above in Pennsylvania, click here.
How do Insurance Providers Determine Tesla Model S Insurance Rates?
It’s important that you understand the rating factors that are used to determine your policy premiums. When consumers understand what impacts premium levels, this enables informed choices that could help you find better insurance rates.
- Save by driving less – The more you drive each year the higher your rates will be. Many insurance companies apply a rate based on how the vehicle is used. Cars that do not get driven very much qualify for better rates compared to those used for work or business. Make sure your insurance policy correctly shows the correct usage, because it can save money. Incorrect rating for your Model S may be costing you higher rates.
- Always keep your coverage in force – Driving your car without having proper coverage is not a good idea and any future policy may cost more because you let your insurance lapse for non-payment. Not only will you pay higher rates, failure to provide proof of insurance will get you fines and jail time. You may need to file a SR-22 with the Pennsylvania department of motor vehicles.
- Gender is a factor – Statistics have proven that women are safer drivers than men. However, this does not mean females are better drivers. Both sexes tend to get into at-fault accidents in similar numbers, but males cause more damage. Men also statistically receive more major tickets such as DWI and reckless driving. Teenage male drivers are several times more likely to be in an accident so they pay the highest premiums.
- Single drivers take more risk – Walking down the aisle may earn you lower rates on your insurance policy. Having a spouse may mean you are more stable financially and statistics prove married drivers get in fewer accidents.
- How much liability insurance do you need? – The liability coverage on your policy will protect you when you are responsible for an accident. It provides legal defense coverage up to the limits shown on your policy. This coverage is very inexpensive compared to other policy coverages, so drivers should buy more than the minimum limits required by law.
Tesla Model S insurance loss probability – Auto insurance companies use claims history to help set a rate to offset losses. Vehicles that the data determines to have higher loss trends will have higher rates. The table below illustrates the historical loss data for Tesla Model S vehicles.
For each coverage category, the claim probability for all vehicles, regardless of manufacturer or model, equals 100. Numbers that are below 100 suggest a better than average loss history, while numbers that are greater than 100 point to more losses or an increased probability of a larger loss.
Tesla Model S Insurance Claim Statistics 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 333BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When to get advice from an insurance agent
A small number of people would prefer to sit down and talk to an agent and doing that can be a smart decision Experienced insurance agents are very good at helping people manage risk and help submit paperwork. The best thing about getting free rate quotes online is you can get cheap auto insurance quotes and still buy from a local agent. Putting coverage with local agents is definitely important in Philadelphia.
After completing this quick form, your information is submitted to local insurance agents in Philadelphia who can give free rate quotes for your coverage. You never need to search for any insurance agencies since price quotes are sent immediately to you. In the event you want to get a rate quote from a particular provider, don’t hesitate to go to their quote page and submit a quote form there.
If you are searching for a local Philadelphia insurance agent, you must know there are a couple different types of agents that you can choose from. Auto insurance policy providers are considered either independent (non-exclusive) or exclusive. Both can provide auto insurance policies, but it is important to understand the differences because it can influence which agent you choose.
These agents are not employed by one company and that is an advantage because they can write policies with multiple insurance companies and possibly get better coverage at lower prices. To move your coverage to a new company, your agent can just switch to a different company and you don’t have to switch agencies. If you are comparing rate quotes, you definitely need to get some free quotes from multiple independent agents to get the best comparison.
Listed below is a short list of independent agencies in Philadelphia who may be able to give you free auto insurance rate quotes.
Exclusive Auto Insurance Agencies
Exclusive agents can only place business with one company and some examples include Allstate and State Farm. They generally cannot provide prices from multiple companies so if the price isn’t competitive there isn’t much they can do. Exclusive agencies are usually quite knowledgeable on their company’s products which can be an advantage.
Shown below are exclusive agencies in Philadelphia willing to provide comparison quotes.
Jack Stabler – State Farm Insurance Agent
6726 Torresdale Ave – Philadelphia, PA 19135 – (215) 331-4300 – View Map
Picking the best insurance agency requires you to look at more than just the quoted price. Any agent in Philadelphia should have no problem answering these questions:
- Do they offer rental car reimbursement?
- What are the financial ratings for the companies they represent?
- Do they specialize in personal lines auto insurance in Philadelphia?
- Do they get paid more for recommending certain coverages?
- Do they reduce claim amounts on high mileage vehicles?
- Does the company have a local claim office in Philadelphia?
If you feel you receive positive responses as well as an affordable premium quote, you may have just found an auto insurance agent that is professional and can service your policy.
Be persistent and save
You just read a lot of techniques to shop for Tesla Model S insurance online. The key concept to understand is the more you quote Philadelphia auto insurance, the better chance you’ll have of finding affordable Philadelphia auto insurance quotes. Drivers may even discover the best price on insurance is with a smaller regional carrier. These companies may have significantly lower car insurance rates on certain market segments than the large multi-state companies such as GEICO and State Farm.
Lower-priced insurance in Philadelphia is available on the web and from local insurance agents, and you need to price shop both to have the best selection. Some insurance providers do not offer the ability to get quotes online and most of the time these regional insurance providers only sell through independent agents.
More tips and info about insurance is located by following these links:
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Who Has Affordable Auto Insurance Rates for Felons in Philadelphia? (FAQ)
- Who Has the Cheapest Philadelphia Car Insurance for Electric Cars? (FAQ)
- Who Has the Cheapest Auto Insurance Rates for Nurses in Philadelphia? (FAQ)
- Who Has the Cheapest Philadelphia Auto Insurance Quotes for High Risk Drivers? (FAQ)
- What to do at the Scene of an Accident (Insurance Information Institute)
- What Does No-Fault Insurance Cover? (Allstate)
- Your Car has been Stolen: Now What? (Allstate)
- Teen Driver Statistics (Insurance Information Institute)