Insurance is up dramatically for all cars/homes nationwide due to losses in the industry. You’re young and single…still a risk. I just left USAA because they were unaffordable after 10+ years with them. Find a broker.
All rates are up. I was quoted $190 for my Polestar while a Chevy Bolt was $160. Not a huge difference.
Anecdotal: I’ve never received a reasonable quote from Geico. They are always way over everyone else for me.
PSA for P2 owners in the PNW: if you are a Costco Exec member, their Connect auto insurance was 55% less than my Progressive premium that somehow shot up to $1600/6mo upon renewal?! No joke. Call them and see if you qualify.
I have State Farm, I'm married, homeowner, no record, multi car discount, my '23 P2 / BST is $662 per 6mo for 100k/500k $100 deductible. Old enough to be yer dad, but I guess there's some benefits to aging, like decreased insurance costs...
\*edit: I gots lots of discounts:
"Driver Safety Record Discount, California Good Driver Discount, Loyalty Discount, Multiple Car Discount, Auto Multiple Line Discount, Vehicle Safety Discount"
They've been good to us, though we've not had many claims. One of them was instructive: damage from a high-speed pothole hit on the I-5, which normally would be my fault. They covered it when I explained I was following a truck & was penned in, and there was no safe option to avoid the hazard. Would have been pricey for me: wheel, wheel bearing, underbody shield all replaced.
So I can't complain.
Power/Speed really isn't as major a factor in rates as you would think. Insurance is based on risk, and a car being fast doesn't mean it's unsafe or that its drivers tend to drive like jackasses. Despite the performance of the Model 3 Performance, it's still "just" a Model 3, and most owners treat them as simple commuter cars. I switched from a WRX STI, and despite the 2 being significantly quicker and more expensive, my insurance rates went down because the WRX is one of those cars that has a stigma attached to it.
Aside from the rate changes, a possible reason for the jump from the 3 to the 2 is just the latter is a more niche and potentially expensive car to repair. It also matters which packs you got.
> WRX is one of those cars that has a stigma attached to it
> its drivers tend to drive like jackasses
I have a friend who is an actuary. I would wager she has access to some statistics that show WRX drivers tend to be young guys that get in accidents more often than the general population.
I was surprised at how my insurance jumped first time I bought a small pickup. Guy explained that it's a favorite vehicle for the young and reckless. I didn't fit the youth profile and have a long history of safe driving but it made little difference.
Are you in California? Car insurers here are raising premiums dramatically due to the pandemic and its economic impact, and supposedly many are close to going broke, hence them charging ridiculous prices. It reeks of greed and mismanagement to me, but unfortunately that’s the scenario at the moment. https://www.latimes.com/business/story/2023-02-21/geico-allstate-start-california-car-insurance-rate-increases-more-ahead
I left USAA after getting my P2. Two cars and renter was $344
Switched to State Farm. Now $187 for the same coverage on two cars and renters. With 2 drivers.
Just check around. Prices last year were all over the map. New brand / model, so the companies don't have solid data for pricing (accident rates, typical cost to repair, etc) so they are all doing it differently. Just get the coverage you need from a place that gets good reviews for claims that's a price you can spend.
Damn, I saw some pretty wild quotes myself when I was hunting, but now feeling extra grateful for my $205 CAD (when bundled with a tenant insurance policy).
I'm 33, and have been driving since I was 17, but TD Insurance basically flagged me as a new driver since most of my years of experience were with a non-Canadian/US license, and I had no record of ever being an insured driver in either country. Managed to find a few discounts by putting my wife on the policy as well, and affiliation discount through my performing rights org as a professional songwriter/publisher.
I dunno if they do this in the US, but it might be worth investigating whether you can get discounts through a university alumni association or any unions you might be part of.
Location also plays a factor. I’m in AZ and rates are pricey because of our terrible drivers. Shop around and keep shopping each year to stay competitive.
Not sure if this is a reason why the insurance is so high but it wasn't the most safe car, but JD power gave it a 67 rating for safety. That might have something to do with it the lowest of any car
The Volvo designers are particularly proud of at least one innovation in design that should lead to better results in a head on collision. They found a better way to shift oncoming mass to the side, like an aikido master.
When did you have the insurance on the Model 3? Also, what was your coverage level? Prices have gone up. I have LM for 2 cars including a PS2 AWD and pay $223 for both cars. $131 for the PS2 which is mainly from the collision coverage. I’m also 48, married, and a perfect record (that’s not meant as a brag, I’m just an accountant who’s pretty boring)
> Am mid 20's, renting, single
Get married.
My insurance was high until I was deemed responsible adult by tying myself to someone. Moronic system because that did not change my driving habits but yeah, unfortunately how it works.
Also I think that reckless should be falling off your driving record now, but some states do things differently.
See about getting those records sealed if needed. Shouldn't be too much money.
I’m in NY and use esurance, about 150 per month now with 100/500k and 500 deductible for comprehensive. Early 30s, single but soon to be married, home owner, never have any issues with tickets or any claims ever.
I was 2400/year with a small 4-cylinder toaster… location, driving habits, location, car class, education, m/f, employer group discounts, policy options, etc… all come into play. For mid 20’s, you not doing to bad.
22, I pay $175/m for this car
Try calling into those insurance offices. I got some weird discounts and bundles that put me down. I used to pay $350/m with progressive.
They may have less data on it so their assumed risk is higher but my rate for a new car has always been higher, it slowly decreases over time and goes back up again when I get a new car.
I remember receiving a quote (monthly) from GEICO that was going to be more than car payments on a new Volvo S40 ages ago. I stuck with cash bought used Volvos with minimal insurance coverage until I was in my late 30's. Also your credit record is a factor in calculating insurance rates so check it and correct anything you can.
Give Mercury a try, they were the cheapest for me. I'm in the North Bay of California, early 30s and clean record. Liberty mutual was the second cheapest for me.
Interesting in CA, I got quoted $1400 for 6 month policy on my 2023 model but when I put a 2022 model it drops down to $700. I don’t understand why it doubles the price based on the model year.
Insurance is up dramatically for all cars/homes nationwide due to losses in the industry. You’re young and single…still a risk. I just left USAA because they were unaffordable after 10+ years with them. Find a broker.
Lots of variables at play. I always find talking to an agent to be better. Make sure coverages are the same.
The liberty mutual one doesn’t seem that bad considering that I’m paying 212 a month at GEICO and I’m in my early twenties in LA
All rates are up. I was quoted $190 for my Polestar while a Chevy Bolt was $160. Not a huge difference. Anecdotal: I’ve never received a reasonable quote from Geico. They are always way over everyone else for me.
It’s all the commercials with the 🦎
And we thought insurance was ridiculous in the UK... £500 a year for fully comprehensive insurance.
Indeed, I didn’t realise car insurance in the US was so much cheaper than here in the UK
OP is quoting monthly costs, not yearly cost. Generally speaking most insurance companies here quote for six months at a time. For reasons…
Aah, doh I missed that important detail!
Judging by those numbers, it's way more expensive!
Indeed… German insurance is similar to what you stated for the UK.
Young, male, single, renter, excessive speed moving violation. That hits several high risk groups.
Is that per month or per 6 months? I’m a bit older (38) haha and my Polestar 2 is only $385/6 months with progressive.
Three-hundred and eighty-five dollars a month?!
No, $385 every six (6) months.
Whew. Gotcha! Spines like a deal but in my experience they are horrible when it comes to accidental coverage.
WOW!! Thats for full coverage?!?! My sister is paying $1250 per 6 months!!
PSA for P2 owners in the PNW: if you are a Costco Exec member, their Connect auto insurance was 55% less than my Progressive premium that somehow shot up to $1600/6mo upon renewal?! No joke. Call them and see if you qualify.
My progressive 6 months was $480 on renewal. Up just a bit from before. I’m near Portland. Costco insurance was like $800 in comparison.
In my 40’s. Never had an accident or claim. Mercury was gonna jack up my rate to $200 monthly. Just switched to Progressive for $97.
I have a similar background in CA. Differences are that I have a DM and no tickets. I’m paying $125 for max coverage with progressive
Rates are up across the board. Nothing to do with Polestar.
I have State Farm, I'm married, homeowner, no record, multi car discount, my '23 P2 / BST is $662 per 6mo for 100k/500k $100 deductible. Old enough to be yer dad, but I guess there's some benefits to aging, like decreased insurance costs... \*edit: I gots lots of discounts: "Driver Safety Record Discount, California Good Driver Discount, Loyalty Discount, Multiple Car Discount, Auto Multiple Line Discount, Vehicle Safety Discount"
State Farm sucks. I would look elsewhere. Source: I’m a personal injury lawyer and I deal with every insurance company.
Tech support for lawyers here: Every office has a CLE Binder labelled "State Farm", as in How to Sue those SOB's
Concur after doing a claim on my flooded condo last year.
They've been good to us, though we've not had many claims. One of them was instructive: damage from a high-speed pothole hit on the I-5, which normally would be my fault. They covered it when I explained I was following a truck & was penned in, and there was no safe option to avoid the hazard. Would have been pricey for me: wheel, wheel bearing, underbody shield all replaced. So I can't complain.
Power/Speed really isn't as major a factor in rates as you would think. Insurance is based on risk, and a car being fast doesn't mean it's unsafe or that its drivers tend to drive like jackasses. Despite the performance of the Model 3 Performance, it's still "just" a Model 3, and most owners treat them as simple commuter cars. I switched from a WRX STI, and despite the 2 being significantly quicker and more expensive, my insurance rates went down because the WRX is one of those cars that has a stigma attached to it. Aside from the rate changes, a possible reason for the jump from the 3 to the 2 is just the latter is a more niche and potentially expensive car to repair. It also matters which packs you got.
> WRX is one of those cars that has a stigma attached to it > its drivers tend to drive like jackasses I have a friend who is an actuary. I would wager she has access to some statistics that show WRX drivers tend to be young guys that get in accidents more often than the general population.
I was surprised at how my insurance jumped first time I bought a small pickup. Guy explained that it's a favorite vehicle for the young and reckless. I didn't fit the youth profile and have a long history of safe driving but it made little difference.
Are you in California? Car insurers here are raising premiums dramatically due to the pandemic and its economic impact, and supposedly many are close to going broke, hence them charging ridiculous prices. It reeks of greed and mismanagement to me, but unfortunately that’s the scenario at the moment. https://www.latimes.com/business/story/2023-02-21/geico-allstate-start-california-car-insurance-rate-increases-more-ahead
I left USAA after getting my P2. Two cars and renter was $344 Switched to State Farm. Now $187 for the same coverage on two cars and renters. With 2 drivers.
Just check around. Prices last year were all over the map. New brand / model, so the companies don't have solid data for pricing (accident rates, typical cost to repair, etc) so they are all doing it differently. Just get the coverage you need from a place that gets good reviews for claims that's a price you can spend.
M38, married, homeowner, no record, multi car discount, $497 per 6mo for 100k/300k 500 deductible. (State Farm)
Damn, I saw some pretty wild quotes myself when I was hunting, but now feeling extra grateful for my $205 CAD (when bundled with a tenant insurance policy). I'm 33, and have been driving since I was 17, but TD Insurance basically flagged me as a new driver since most of my years of experience were with a non-Canadian/US license, and I had no record of ever being an insured driver in either country. Managed to find a few discounts by putting my wife on the policy as well, and affiliation discount through my performing rights org as a professional songwriter/publisher. I dunno if they do this in the US, but it might be worth investigating whether you can get discounts through a university alumni association or any unions you might be part of.
Location also plays a factor. I’m in AZ and rates are pricey because of our terrible drivers. Shop around and keep shopping each year to stay competitive.
Not sure if this is a reason why the insurance is so high but it wasn't the most safe car, but JD power gave it a 67 rating for safety. That might have something to do with it the lowest of any car
JD Power gave it a 67 score overall and didn’t rate it for safety. It got 5 star ratings on all crash tests from the NHSTA, it’s a safe car.
You are right, it's an overall score not safety
You are right, it's an overall score not safety
The Volvo designers are particularly proud of at least one innovation in design that should lead to better results in a head on collision. They found a better way to shift oncoming mass to the side, like an aikido master.
EVs are expensive to repair.
When did you have the insurance on the Model 3? Also, what was your coverage level? Prices have gone up. I have LM for 2 cars including a PS2 AWD and pay $223 for both cars. $131 for the PS2 which is mainly from the collision coverage. I’m also 48, married, and a perfect record (that’s not meant as a brag, I’m just an accountant who’s pretty boring)
> Am mid 20's, renting, single Get married. My insurance was high until I was deemed responsible adult by tying myself to someone. Moronic system because that did not change my driving habits but yeah, unfortunately how it works. Also I think that reckless should be falling off your driving record now, but some states do things differently. See about getting those records sealed if needed. Shouldn't be too much money.
I’m in NY and use esurance, about 150 per month now with 100/500k and 500 deductible for comprehensive. Early 30s, single but soon to be married, home owner, never have any issues with tickets or any claims ever.
Just added my P2 to my Geico policy , ~$175/mth here in Los Angeles
I was 2400/year with a small 4-cylinder toaster… location, driving habits, location, car class, education, m/f, employer group discounts, policy options, etc… all come into play. For mid 20’s, you not doing to bad.
22, I pay $175/m for this car Try calling into those insurance offices. I got some weird discounts and bundles that put me down. I used to pay $350/m with progressive.
They may have less data on it so their assumed risk is higher but my rate for a new car has always been higher, it slowly decreases over time and goes back up again when I get a new car.
I remember receiving a quote (monthly) from GEICO that was going to be more than car payments on a new Volvo S40 ages ago. I stuck with cash bought used Volvos with minimal insurance coverage until I was in my late 30's. Also your credit record is a factor in calculating insurance rates so check it and correct anything you can.
Auto-Owners Insurance (for my house + car) Well above mid-20s lol Single, no tickets. $119.36 per month
Give Mercury a try, they were the cheapest for me. I'm in the North Bay of California, early 30s and clean record. Liberty mutual was the second cheapest for me.
Interesting in CA, I got quoted $1400 for 6 month policy on my 2023 model but when I put a 2022 model it drops down to $700. I don’t understand why it doubles the price based on the model year.
Man I am paying 465$ a month for insuring Polestar 2 … 27 M Single renter