Insurance

That’s rough. Are you under your parents policy? Have you talked to an agent or are all your quotes online? What’s your driving history like?

Njm

Based on your post, I’m not sure I’d trust you to even understand what “full coverage is” since you’re asking this sub to do quotes from insurance companies. Your parents have failed you. Open a computer and start doing more quotes, if they all seem around $600-800, then that’s probably what you’ll end up paying.

Respectfully, do you think OP will understand any of this?

all my quotes are online. I've been driving for 2 years with no issues. I was under their insurance until I got the M3. I've been paying around $250. Within the next 2 months I need to get a new insurance, so i've been looking but they're all high

I do understand, i may be young but im not dumb

Seen other posts roughly around the same topic. Didn't know asking a question meant my parents failed me

Okay so maybe they didn’t completely fail you. All the other posts you see are the same, no one here can give you a quote on your insurance- that’s something you need to do or get a broker to do for you. Insurance is extremely specific to an individual.

Can’t you stay under them? That cost is huge. You may want to get quotes on different types of cars

Being under his parents doesn’t mean he’s any less risk, he’s still only 19. How do you think being on his parents policy will save money?

Sometimes there’s a savings being under the parents vs just on your own. Depends on the state and insurance company. Idk im just trying to help this guy explore all his options instead of accepting the ridiculously high cost of insurance. Don’t have any insight on helping him?

I am 26 in Chicago and pay around 115-145 with Tesla insurance. Full coverage. Have you gotten a quote through the app?

Not much you can do at that age with this car. It's expensive to insure with tesla insurance often being the cheapest. I personally would sell it for a lower cost per month vehicle if I was 19 and get another one in a few years.

Bit harsh, he’s just asking around for suggestions

He’s asking for quotes, which none of us can do. We can’t even suggest places to quote, that’s what no one understands about car insurance. Harsh? Call it more, tough love.

I was 27 when I got my 2023 Model 3 LR and was paying $174 a month, went up to $220, now back down to $193. At your age being on your own insurance you're going to be paying a lot.

true, but the car is fully paid off. So I don't want to have to pay another monthly payment plus insurance. New Jersey also doesn't have tesla insurance which makes it harder

You absolutely can suggest insurers or strategies people have had success with. He’s not asking for exact quotes, just direction from shared experience

If you actually end up having to pay 500+ just for insurance that would not be worth it imo. With it paid off you'd be able to sell and buy something with the cash, no financing

Hop off Reddit, old man. You made your point. No need for 4 comments on the same thing. OP wasn’t even asking for direct quotes. Please, for all of our sakes, go touch some grass 🙏🏽

Talk to an agent directly either in person or by calling them, online quotes are never good (in my experience)

Try staying under your parents. I’m 23 and was able to to lower my payment from 220 to 150 a month with that.

$200 /mo, that with a perfect driving record, 43yo, bundles with house. Hopefully you can get closer to 400/ mo. But Teslas are expensive for full coverage

Damn, being called an old man is rough. I have touched a blade of grass, feel the same. OP still needs to get some quotes online, it’s super easy. Wanna go for 5 comments?

And how accurate do you think it is when one person mentions an insurance company they’ve had success (have no idea what “strategies” come with car insurance) with and then he goes to it and finds the same rate as he has now. No one understands car insurance, I get it.

Dude, what is this “no one understands car insurance” nonsense?? 😂 sure, there’s a decent amount of people that simply lack the brain capacity or may not be educated on the topic but it’s not rocket science.

Talk to your agent. Find out what would need to change to lower it. Get other quotes. Did you recently change your address from your parent’s address?

I’m 30 in LA and cheapest I’ve found is 330 a month with Tesla insurance. 2023 M3P. All others are easily 400+ Geico quoted me 750! 😭

600-800 a month for insurance? I pay like $45.

Yeah this is the tough part. I was 23 when I bought my 2024 model 3, I ended up going with Tesla insurance because I was getting quoted $300+ a month Tesla insurance started me at $100 a month, my first renewal was $180 with a score north of 94. That was half the reason I sold Today, both of our cars and both drivers (fiance) cost around $230 a month and I’m about to shop quotes to drop it further. Insurance on teslas fucking sucks when you’re young My 40-something coworker has a 2021 model x and he pays like $90 a month

Read some of these “suggestions”

Don't listen to that jerk, OP. You went on a subreddit and asked a question that is relevant to the subreddit. Absolutely nothing wrong with it, in fact, it's what forums are for.  u/rwhe83 is simply one of those losers who act shitty to others and disguises it as "tough love" in hopes of getting away with it. I hope you're able to lower your insurance somehow, I'm in a similar situation myself but with the Model Y. Not your levels of cost but doubling what many other EVs cost me on the same insurance companies.  Best of luck!

Just cancel your collision if that's what's driving it up and drive like a grandma.

I’m getting like $300 a month in Atlanta. Clean record and a (new to me) LR

It’s your age and the vehicle. There’s no getting around it. Until your over 25, you won’t see a big difference in cost because you’re a risk whether you think so or not. Like others have said, you’ll need to get on your parent’s plan in order to bring your premium down.

Don’t put the car in your name. If you do, then you’re gonna be paying really really high premiums. My daughter got one when she was 19 the car is in her name and she makes the payments but she’s on my insurance policy and the policy is so damn high. It’s disgusting.

We have it through Geico and I called everywhere. It will be high until she’s 23 years old.

Dude, America failed you, OP is doing fine

😂

I’m sorry, what helpful suggestions did you give OP because “Best of Luck!” Everyone has proven my point, no one can physically help OP in finding cheaper insurance like he asked for in this entire post. Yet I’m…the loser.

😂😂

I’m truly loving all these comments, being called a loser and yours of all…that America failed me. Literally not one of these comments have helped OP, I’ve read them all. One even went so far to suggest dropping collision and “drive like a grandma.” If OP is getting knocked off his parents policy, I guarantee there’s more to this story- none of which means he can magically find cheap insurance for his M3.

My helpful suggestion was to ignore you. I never claimed to help OP. I'm not even American, I can't speak of how to play the American insurance industry.

Yep, ignore the person trying to provide the real help. It’s better than stating my age, location and how much I pay for insurance…as if that’s remotely helpful.

It cost as much to insure this car as a Lotus Emira... I refuse to pay exotic car insurance premiums for a daily driver like this.  Go buy a different car. These cars are not with the insurance costs. Not by a long shot.

i'm not getting knocked off: the car is under a family friends name, and i'm under their insurance, I just finished paying off the car and the car will go under my name and off of their family friends insurance. My parents has 3-4 cars. So i rather just have my own depending on the price. If i can find a lower quote

yeah true, renewing my registration I was surprised when it was 270$ and not 40$

Well unfortunately it sounds like staying under their insurance is the best option. You’re 19, it’s not going to be inexpensive regardless of where you go. Sorry no one has been overly helpful on this sub for you, even though bashing me is easier. Also, don’t drop collision- that was a stupid suggestion.

If you want an electric car without the exotic car premiums. Go check out the Hyundai Ioniq 5. Phenomenal vehicle. Was ranked #1 best electric car in its class even over the model y. It's cheaper than a Tesla, less expensive to insure, and has much better technology, much more user friendly infotainment system, and and the best driver features on the market.

Same boat here, 140/mo under my parents policy. Even though I have extremely good credit, being a young male the cheapest I could find elsewhere was \~250 IIRC

I'm in NJ and registration renewal for my 22 Tesla model 3 is $350. Next year $360. It's crazy disgusting. They are collecting the extra money for the roads. Because we don't have to pay the sales tax on gas they take it all at once at registration. You think you save with electric, but they find some way to F--- us anyway

Insurance is based on the value of the car purchase price to be exact.