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car insurance, Tesla, electric vehicles, electric cars
I'm waiting for my new Tesla to come and I am looking into car insurance for it. Is it difficult to insure? What companies offer insurance for Teslas?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“A Tesla is one sweet ride, so congratulations on that end! The good news on top of that is that more and more companies are willing to insure Teslas as they become more popular.
Because Teslas are a high-end luxury vehicle, they’re typically more expensive to insure due to high repair and maintenance costs. Some car insurance companies don’t want to take on the risk due to these costs. If you get into an accident and your vehicle is totaled, an insurance company would likely have to pay out a large sum for the
actual cash value
.However, many larger companies are willing to take the risk.
Progressive
, Allstate, and GEICO all typically offer insurance policies for Teslas.To confirm which companies will write a policy for you, you’ll want to request quotes and shop around on
Jerry
. Products that companies offer can vary state to state and their rates will be different as well. Requesting quotes will allow you to see the rate insurance companies are offering based on your personal information and your Tesla.”View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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