Are you searching for more affordable Tesla Model S insurance in Laredo? Locating low-cost insurance for a Tesla Model S in Texas can be difficult, but you can learn the following methods and make it easy. There are more efficient ways to shop for auto insurance so you’re going to learn the best way to compare rates on a Tesla and obtain the cheapest rates from both online companies and Laredo agents.
If you are already insured or just want to save money, take advantage of these tips to get lower rates and still have adequate protection. Finding quotes for the best-priced coverage in Laredo can be fairly easy. Shoppers just have to learn the tricks to compare company rates over the internet.
Lower-cost Laredo insurance quotes with discounts
The cost of insuring your cars can be expensive, but you can get discounts to reduce the price significantly. A few discounts will automatically apply when you get a quote, but some discounts are required to be specifically requested before being credited.
- Bundle and Save – When you have multiple policies and place coverage with the same company they may give you a discount of at least 10 to 15 percent or more.
- Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems can help prevent theft and will qualify for a discount on a Laredo car insurance quote.
- Discount for Life Insurance – Larger insurance companies have a discount if you purchase life insurance from them.
- Multiple Cars – Buying a policy with more than one vehicle on a single policy could earn a price break for each car.
- Early Signing – Some insurance companies give discounts for buying a new policy prior to the expiration date on your current Model S insurance policy. It’s a savings of about 10%.
- Smart Student Discounts – Being a good student can save 20 to 25%. Many companies even apply the discount to college students up to age 25.
- Senior Citizen Rates – If you qualify as a senior citizen, you can possibly qualify for a small discount on rates.
- College Student – Youth drivers who are enrolled in higher education away from home and won’t have access to an insured vehicle may be able to be covered for less.
- Anti-lock Brake System – Cars and trucks with ABS braking systems or traction control have fewer accidents and earn discounts up to 10%.
- Safety Course Discount – Completing a course teaching safe driver skills could possibly earn you a 5% discount if you qualify.
A quick disclaimer, some of the credits will not apply to your bottom line cost. Some only apply to individual premiums such as collision or personal injury protection. If you do the math and it seems like all the discounts add up to a free policy, companies wouldn’t make money that way. But any discount will definitely reduce your insurance premiums.
For a list of insurance companies that offer some of these discounts in Laredo, click here to view.
The majority of larger companies such as 21st Century, Allstate and State Farm allow you to get coverage price quotes direct online. Getting online quotes for Tesla Model S insurance in Laredo is quite easy as all you need to do is type in your personal and coverage information as requested by the quote form. Behind the scenes, the company’s rating system makes automated requests for your driving record and credit report and provides a quote based on the information you submitted.
Quoting online for Tesla Model S insurance in Laredo makes comparing rates easy, and it’s absolutely necessary to do this in order to get the lowest payment possible.
To compare rates now, take a look at the companies shown below. If you currently have coverage, we recommend you replicate coverages and limits as shown on your current policy. This helps ensure you are getting a rate comparison based on the exact same insurance coverage.
The following companies provide comparison quotes in Texas. To buy the cheapest car insurance in Laredo, we recommend you compare several of them to get a more complete price comparison.
Learn How to Lower Your Insurance Rates
Lots of factors are considered when you get a price on insurance. A few of the factors are predictable such as traffic violations, although some other factors are not quite as obvious like where you live or your commute time. When buying auto insurance it’s important to understand the rating factors that are used to determine your policy premiums. When you understand what impacts premium levels, this helps enable you to make changes that may reward you with big savings.
Responsible drivers pay less – How you drive impacts premiums far more than you think. Even a single chargeable violation could increase your next policy renewal forty percent or more. Drivers who don’t get tickets get better rates as compared to those with violations. Drivers who have serious citations like DWI, reckless driving or hit and run convictions may need to file a SR-22 with the DMV in their state in order to prevent a license revocation.
Combining policies can get discounts – The majority of insurance companies allow a discount to customers who consolidate policies with them. It’s known as a multi-policy discount. The discount can add up to anywhere from five to ten percent in most cases. Even with this discount applied, you may still want to comparison shop to verify if the discount is saving money.
Drivers with good credit save – A driver’s credit score can be an important factor in determining your rates. Consumers who have high credit scores tend to be better drivers and file fewer claims as compared to drivers with lower ratings. If your credit leaves room for improvement, you may save money insuring your Tesla Model S by improving your rating.
Amount of liability – Your policy’s liability coverage kicks in if you are found to be at fault for personal injury or accident damage. Your liability coverage provides legal defense to attempt to prove you were not liable. Liability insurance is pretty cheap compared to physical damage coverage, so drivers should make sure they buy enough to cover all assets.
Cheaper rates with high physical damage deductibles – Physical damage coverage, otherwise known as comp (or other than collision) and collision, protects your Tesla from damage. Some examples of covered claims are running into the backend of another car, collision with an animal, and damage caused by flying debris. The deductibles represent how much money you are willing to pay before your auto insurance pays a claim. The more of the claim you’re willing to pay, the bigger discount you will receive.
Rates impacted by your city – Living in less populated areas can be a good thing when trying to find low car insurance rates. Urban drivers have more traffic problems and higher rates of accident claims. Fewer drivers means a lower chance of having an accident in addition to fewer liability claims.
Cheaper auto insurance rates with safer cars – Safe vehicles can get you lower premiums. These vehicles have better occupant injury protection and reduced instances of injuries translates directly to fewer claims and more competitive rates for policyholders.
Only buy what you need – Policies have optional add-on coverages you can purchase on your Model S policy. Insurance for personal injury protection, towing, and term life insurance may be wasting your money. The coverages may be enticing at first, but now you might not need them so think about removing them and cutting costs.
Loss probability for a Tesla Model S – Insurers include the past claim history for a vehicle to help calculate a profitable premium price. Models that the data shows to have a trend towards higher claim severity or frequency will have a higher cost to insure. The information below illustrates the insurance loss data used by companies for Tesla Model S vehicles.
For each policy coverage type, the claim amount for all vehicles, regardless of manufacturer or model, is a value of 100. Values that are 100 or less mean the vehicle has better than average losses, while percentage values above 100 indicate more frequent losses or an increased chance of larger losses than average.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Tesla Model S 4dr Electric 2WD | 324 | 116 | 208 | 39 | 46 | 104 |
| Tesla Model S 4dr Electric 4WD | 333 |
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Local Laredo car insurance agents and insurance
A lot of people just prefer to go talk to an agent and that is a personal choice. Professional agents can help you build your policy and give you someone to call. An additional benefit of comparing insurance prices online is that you can obtain cheap insurance rates and still choose a local agent.
To make it easy to find an agent, after completing this simple form, your coverage information is submitted to local insurance agents who will give you bids for your insurance coverage. It’s much easier because you don’t need to contact any insurance agencies as quotes are delivered to you directly. If for some reason you want to compare prices from a specific insurance company, just find their quoting web page and fill out the quote form the provide.
Finding the right insurance company is decision based upon more than just a cheap price quote. You should also get answers to these questions.
- Is assistance available after office hours?
- Can glass repairs be made at your home?
- What is the agency’s Better Business Bureau rating?
- Does the company use OEM repair parts?
- Will high miles depreciate repair valuations?
When researching a local agent, it can be helpful to understand the different agency structures and how they can write your policy. Agents in Laredo can be categorized as either exclusive or independent (non-exclusive). Both types of agents can insure your vehicles, but it is important to understand why they differ because it can factor into the type of agent you choose.
Exclusive Agents
Agents of this type are contracted to one company such as State Farm or Allstate. They are unable to place coverage with different providers so they have to upsell other benefits. Exclusive agents receive a lot of sales training on their company’s products which helps offset the inability to provide other markets. Some insured continue to purchase coverage from exclusives mainly due to the brand legacy instead of buying on price only.
Shown below are Laredo exclusive agents that can give you price quotes.
- Allstate Insurance Agent: Powell-Watson Insurance Group
6301 Arena Blvd Ste A – Laredo, TX 78041 – (956) 764-4399 – View Map - Herman Dominguez – State Farm Insurance Agent
3120 N Arkansas Ave – Laredo, TX 78043 – (956) 726-0493 – View Map - Allstate Insurance Agent: Jorge A Monsivais
414 Shiloh Dr Unit 1 – Laredo, TX 78045 – (956) 722-0087 – View Map
Independent Insurance Agencies
Agents in the independent channel do not sell for just one brand so they can insure your vehicles through many different insurance companies and find you cheaper rates. If your premiums go up, your policy is moved internally which makes it simple for you. If you need cheaper insurance rates, you will want to get some free quotes from independent agents to have the most options to choose from. They also have the ability to place coverage with small mutual carriers that may have much lower rates than larger companies.
The following are independent agents in Laredo that can give you price quotes.
- Pena Insurance
220 W Hillside Rd # 11 – Laredo, TX 78041 – (956) 724-9004 – View Map - Pronto Insurance
1315 San Dario Ave – Laredo, TX 78040 – (956) 724-2110 – View Map - State Wide Auto Insurance Agency
Laredo, TX 78041 – Laredo, TX 78041 – (956) 791-0800 – View Map
After receiving positive responses to any questions you may have and locked in a price quote, you have narrowed it down to a car insurance agent that can be trusted to properly insure your vehicles. Just keep in mind you can terminate your policy at any time so never feel that you are obligated to any specific company for the full term.
Insuring your vehicle just makes sense
Despite the high cost of buying insurance for a Tesla Model S in Laredo, insuring your vehicle may not be optional for several reasons.
- Most states have mandatory liability insurance requirements which means state laws require a specific minimum amount of liability insurance coverage if you want to drive legally. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your Tesla, more than likely the lender will require that you buy full coverage to guarantee payment of the loan. If the policy lapses, the bank may insure your Tesla at an extremely high rate and force you to pay for the much more expensive policy.
- Insurance safeguards your vehicle and your assets. It will also reimburse you for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense if you are sued as the result of an accident. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to have it repaired.
The benefits of buying enough insurance greatly outweigh the cost, specifically if you ever have a liability claim. Today the average American driver is wasting up to $750 every year so you should quote your policy with other companies at every renewal to save money.
Car insurance companies ranked
Insuring your vehicle with a high-quality insurer can be difficult considering how many different companies insure vehicles in Laredo. The company ratings below can help you decide which coverage providers to look at comparing rates with.
Top 10 Laredo Car Insurance Companies Ranked by Value
- Mercury Insurance
- Travelers
- American Family
- AAA Insurance
- Safeco Insurance
- Progressive
- The Hartford
- The General
- 21st Century
- Esurance
Top 10 Laredo Car Insurance Companies Ranked by Customer Satisfaction
- USAA – 91%
- AAA Insurance – 90%
- Esurance – 90%
- Mercury Insurance – 89%
- Nationwide – 89%
- Travelers – 88%
- Progressive – 88%
- Safeco Insurance – 88%
- State Farm – 88%
- Allstate – 88%
More comparisons equals affordable rates
When buying insurance coverage, you should never sacrifice coverage to reduce premiums. In many cases, an insured cut collision coverage to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your aim should be to buy a smart amount of coverage at the best possible price, but do not sacrifice coverage to save money.
Drivers change insurance companies for a variety of reasons including policy cancellation, poor customer service, delays in responding to claim requests or even delays in paying claims. Regardless of your reason, switching companies is less work than it seems.
Throughout this article, we presented quite a bit of information on how to compare Tesla Model S insurance car insurance rates in Laredo. The key concept to understand is the more providers you compare, the better your comparison will be. You may even find the biggest savings come from a small mutual company.
Steps to finding low-cost Tesla Model S insurance in Laredo
If saving money is your primary concern, then the best way to find affordable Tesla Model S insurance in Laredo is to make a habit of regularly comparing prices from companies who sell auto insurance in Texas.
First, spend some time learning about auto insurance and the steps you can take to prevent expensive coverage. Many rating criteria that cause rate increases like accidents, traffic violations, and an unacceptable credit history can be improved by making lifestyle changes or driving safer.
Second, compare rates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give prices from one company like GEICO or Allstate, while independent agents can provide price quotes from many different companies.
Third, compare the new rates to your current policy premium to determine if you can save on Model S insurance. If you can save money and switch companies, ensure there is no coverage lapse between policies.
Fourth, give proper notification to your current agent or company to cancel your current auto insurance policy. Submit any necessary down payment along with the completed application to the newly selected company. Once the application is submitted, put the new certificate verifying proof of insurance somewhere easily accessible.
One thing to remember is that you’ll want to make sure you compare similar coverage information on each quote request and and to analyze as many companies as you can. Doing this helps ensure a level playing field and a better comparison of the market.
More information is located at the links below
- Avoiding Deer Collisions (Insurance Information Institute)
- Who Has Affordable Car Insurance Rates for a Chevrolet Equinox in Laredo? (FAQ)
- What is Full Coverage? (Allstate)
- Understanding Your Insurance Deductible (Insurance Information Institute)