Tesla Model 3 Owner Asks Fellows To Stop Crashing Model 3 Because of Insurance

"Can you guys quit crashing your Tesla Model 3s? This insurance quote for my car next week is almost twice what I was expecting," wrote one Model 3 owner on Reddit this afternoon sharing this image of how his Model 3 insurance cost has doubled withing a week.

Other Model 3 owners, who are participating in the discussion, wrote that they also experienced similar price hikes. One person wrote that he left Progressive insurance because they jacked the rate up after he added his Tesla Model 3 to his plan.

But in this case, the issue is with Geico, wrote the original poster. "It's Geico, which considers all Teslas 'performance' cars. So that's part of it. The problem is, they're charging me relatively little for my Roadster, so I didn't want to switch. I've gotten quotes from USAA, Amica, and others overs over the last several years, and because I've had Geico for more than 10 years they're always the lowest. Plus I have an umbrella with them. This might be when I switch though," he wrote.

That's apparently not too bad as in this report by Automotive News, AAA calls for higher insurance rates for Tesla Model S owners.

In that article AAA said car insurance prices for Tesla vehicles could go up 30 percent based on data from the Highway Loss Data Institute and other sources. Tesla is disputing the analysis.

"This analysis is severely flawed and is not reflective of reality," the electric-vehicle maker said in a statement emailed to Automotive News. "Among other things, it compares Model S and X to cars that are not remotely peers, including even a Volvo station wagon."

Yet, another forum member at Reddit Tesla writes that a Model 3 insured today is 40% more expensive to insure than a brand new Model S 75D with the same provider, with identical coverages for a policy paid in full.

Insurance rates are highly individual and are not just based on the cost of the car or it’s size, but a combination of anticipated level of safety with a focus on likelihood/level of injury to the occupants, the typical demographic of the purchasing group as well as frequency of incidents among that group.

last year, in this article, Torque News explained how Tesla Model 3 insurance prices will be calculated. According to Allstate It will be based on the symbol that is assigned to that car. Since insurance is now based on a form of credit/insurance score it is hard to really generalize how much a car will be in each case, but certainly if the symbol is say, 63 as opposed to 24 it will be "expensive."

If you are a Tesla Model 3 or a Model S owner, how much are you paying for your car insurance? Please, let us know in the comments section below. Also, please mention your location, so we can see if locations matter when it comes to calculating the car insurance premium for Tesla vehicles.