The Hidden Costs of Tesla Insurance I Wish I Knew When I Got My Model 3 Two Years Ago

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The five hidden costs of owning a Tesla revealed by one owner. Plus, why he says Tesla Insurance sucks and the one important cost he finds especially misleading during his Tesla ownership experience.

One of the biggest selling points of an EV, compared to ICE vehicles, is that electric vehicles have significantly fewer moving parts, which translates into the reasonable expectation that the EV owner will have fewer maintenance and repair issues. In fact, earlier we reported one survey that estimates that EV owners will wind up paying a little over $4,000 less than ICE vehicle owners during the lifetime of their vehicle.

Related article: "The Difference To Maintain A Car On Average Between Some Brands Can Be Thousands Over A 10-Year Time Frame," Warns Consumer Reports.

Related article: Myth busted - Electric vehicles cost more to maintain than gas cars do

While this is all well and good, the flipside is that sometimes EV or future EV owners carry this expectation a little too far, mistakenly believing that EVs are maintenance-free and that there is extraordinarily little to do to keep one operating perfectly. Wrong!

In fact, EVs have special maintenance considerations not found with ICE vehicles, which require EV owners to be cognizant of those aspects of their EV and hopefully show some good judgment and preventive care rather than treat their car as a plug-and-play disposable.

EV Maintenance Issues Owners Need to Know About

1. Maintaining the battery charge level between 20% and 80%―Repeated recharging to full and leaving a battery discharged too low for too long is bad for EV batteries.

2. Charging recommendation differences between daily commuting vs longer road trips―With a long road trip, it is actually preferable to fully charge the battery ahead of time and run it until it is depleted. For shorter trips, such as the round trips between home and work, charging up to 80% is recommended for maintaining good battery life.

3. Temperature extremes should be avoided as much as possible―Heat can cause a battery to degrade prematurely, whereas cold can significantly reduce the range of a battery. For both conditions, when possible, ensure the vehicle is protected from the elements when temperatures are at their extremes.

4. Regenerative braking in EVs results in less brake pad wear―However, they still require maintenance. The solid components need to be checked periodically for wear, while the fluid has to be changed over time to prevent absorbed and trapped moisture in the brake fluid from corroding the brake system.

5. Coolant replacement―EVs have a specialized coolant system for their batteries to prevent battery breakdown and damage. Check an owner's manual or online resource to find out how often your EV's coolant should be changed.

6. Tire maintenance―Tread wear, balancing, alignment, and air pressure are just as critical to monitor and maintain in EVs as they are in ICE vehicles. The extra weight of EVs, as well as the increased torque and power upon acceleration they provide, causes rapid wear of your tires compared to what you may be used to with your old gas vehicle.

7. Electric Vehicle gearboxes―The gearboxes in EVs possess moving parts, so they can and will eventually wear out. While oil changes are more about ICE vehicles, some EV gearboxes rely on oil and will require attention, which will need to be changed at some time in their lifespan.

8. Electric motors―Wear of the electric motors does occur and can be exacerbated by moisture, dirt, dust, and driving conditions. Furthermore, a weakened battery could cause the motors to overdraw on current to keep up with the acceleration demand, resulting in a burned-out electric motor.

WHAT THIS TESLA OWNER DISCOVERED AFTER OWNING HIS MODEL 3 FOR 2 YEARS

That said, a recent YouTube post on the Vegas Tesla Family channel reveals that there are some hidden costs he wishes he had known about before buying a Model 3, with an additional misleading cost he believes other potential Tesla owners need to know about if purchasing an EV for fuel savings is their reason for buying one.

Here is the video posted, but if you want to skip ahead to the hidden costs reveal, a summary is provided below the video.

5 HIDDEN Costs TESLA Doesn't Tell You (+1 Misleading Cost)

 

TESLA OWNER'S HIDDEN COST SUMMARY

  1. Maintenance Costs―After 2 years and 54,000 miles, the owner had to balance and rotate his tires 3 times. Purchased 1 gallon of windshield wiper fluid and changed the cabin air filters once. All totaled, $158.
  2. Accessories―The must-have accessories that do not come with the car purchase include floor mats, a console caddy, a portable tire inflator kit due to no spare tire provided, and a screen protector for the dash infotainment display (No owner cost provided).
  3. Upgrades―Premium connectivity is necessary to make the most of your Tesla-related internet features/apps, etc., which costs approximately $100/year. Autopilot comes free, but you will have to pay for what Tesla still erroneously calls "Full self-driving," which costs around $8,000 for the lifetime of your model or a $100 per month subscription.
  4. Insurance―Tesla will cost more to insure than most ICE vehicles; however, in the host's experience, he pays less with Tesla Insurance. The caveat is that it is not available in every state. Plus, in the host's stated opinion, "Tesla insurance kind of sucks. They're just bad," as he tells his experience of being involved in an accident last February and here it is November, and the Tesla owner has yet to receive his deductible back promised by Tesla. Furthermore, his attempts to contact Tesla about it have been fruitless. He advises that you can buy insurance elsewhere, but it will cost you significantly more.
  5. Registration and Renewal―Expect to pay around $1,000 or more for the registration and renewal―In all likelihood, it will grow even more over time. Plus, some states add a tax charge of around $200 just for being an EV or owner.
  6. The One Misleading Cost the Host Wished He Had Known About: Charging―Supercharging prices have increased to the point where the cost of electricity is currently about two-thirds the price equivalent you would have had to pay with gasoline. However, one upside to this is that if you do not drive over 60 miles daily, your 120-volt outlet with a Tesla Mobile Connector, which he recommends, can charge your Tesla overnight in your garage enough to meet that daily driving demand.

In other words, the between-the-lines message the Tesla owner's points come to is this: If you bought a Tesla intending to save money through fuel cost savings, you will be sadly disappointed. Those hidden costs add up, and if you are a car shopper on a budget, you will experience buyer's remorse.

For additional related articles about Tesla, here are three you can learn from:

Timothy Boyer is an automotive reporter based in Cincinnati who currently researches and works on restoring older vehicles with engine modifications for improved performance. He also reports on modern cars (including EVs) with a focus on DIY mechanics, buying and using tools, and other related topical automotive repair news. Follow Tim on Twitter at @TimBoyerWrites as well as on Facebook and his automotive blog "Zen and the Art of DIY Car Repair" for useful daily news and topics related to new and used cars and trucks.

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