It takes a little time, but the best way to get low-cost Tesla Model S insurance is to start doing an annual price comparison from insurance carriers in Oklahoma City. You can compare rates by following these steps.
First, get a basic knowledge of how auto insurance works and the measures you can take to prevent expensive coverage. Many factors that drive up the price such as at-fault accidents, careless driving, and poor credit history can be controlled by improving your driving habits or financial responsibility.
Second, obtain price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give rate quotes from a single company like GEICO and State Farm, while independent agencies can quote prices for a wide range of insurance providers.
Third, compare the new quotes to your current policy and determine if cheaper Model S coverage is available in Oklahoma City. If you find a better price and change companies, make sure there is no coverage gap between policies.
Fourth, give proper notification to your current agent or company to cancel your existing policy. Submit the completed application along with a down payment to the newly selected company. As soon as coverage is bound, place the new certificate verifying proof of insurance along with your vehicle registration.
One thing to remember is to try to use similar limits and deductibles on each quote request and to quote with as many carriers as you can. This ensures a level playing field and the best price selection.
We don’t have to point out that fact that insurance companies want to keep your business as long as possible. Insureds who get comparison quotes once a year are very likely to switch to a new company because there is a great chance of finding a lower-cost company. A study showed that people who compared prices once a year saved approximately $865 a year as compared to drivers who never shopped for cheaper rates.
If finding the best price on car insurance is your goal, then having a grasp of the best ways to find and compare car insurance can save time, money, and frustration.
Companies offering Tesla Model S insurance in Oklahoma
The companies shown below provide free rate quotes in Oklahoma City, OK. If several companies are displayed, we suggest you visit two to three different companies in order to find the most affordable rates.
Oklahoma City Insurance Prices are Influenced by These Factors
Multiple criteria are part of the equation when pricing auto insurance. Some are obvious like your driving record, although others are more transparent like where you live or your commute time.
Shown below are some of the things companies use to determine your prices.
- Younger vs. mature drivers – Beginning drivers in Oklahoma have a tendency to be more careless when behind the wheel and because of this, their insurance rates are much higher. If you’ve ever had to add a inexperienced driver to your insurance policy can be quite pricey. More mature drivers are viewed as being more responsible, file fewer claims, and are safer drivers.
- Cars with good safety ratings lower premiums – Cars with five star safety ratings tend to have lower insurance rates. Safe vehicles reduce the chance of injuries and any reduction in injury severity means lower claim amounts and more competitive rates for policyholders.
- Costs can change based on your address – Residing in small towns and rural areas has definite advantages when insuring your vehicles. City drivers tend to have more road rage incidents and longer commute times. Fewer drivers on the road translates into fewer accidents in addition to fewer liability claims.
- Vehicle risk impacts costs – The type of car, truck or SUV you own makes a substantial difference in determining your rates. The lowest premiums are for lower cost passenger cars, but many other things help determine your insurance rates.
- Tickets drive up rates – Your driving record has a big impact on rates. Having a single citation may increase your cost by twenty percent. Attentive drivers have lower premiums as compared to those with violations. Drivers with multiple violations like DUI or reckless driving may need to submit a SR-22 or proof of financial responsibility with their state in order to legally drive a vehicle.
- Do you save by driving less? – The higher the mileage driven annually the higher your rate. Almost all companies calculate prices determined by how the vehicle is used. Vehicles that do not get driven very much receive lower rates than those used for commuting. Incorrect rating for your Model S is throwing money out the window. Ask your agent if your vehicle rating reflects the proper vehicle usage.
- Discounts for married drivers – Having a significant other can actually save you money on your insurance bill. Having a significant other is viewed as being more mature than a single person and statistics show married drivers get in fewer accidents.
Tesla Model S insurance claim data – Companies use historical loss data when they calculate premium costs for each model. Models that the statistics show to have higher loss trends will have higher premium rates. The table below illustrates the actual insurance loss data for Tesla Model S vehicles.
For each type of coverage, the loss probability for all vehicles combined as an average is set at 100. Numbers shown that are under 100 suggest a better than average loss history, while percentage values above 100 indicate more frequent claims or statistically larger losses.
Tesla Model S Insurance Loss Statistics Vehicle 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 333BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Lower rate quotes on Tesla Model S insurance in Oklahoma City with these discounts
Car insurance companies do not list every policy discount very clearly, so we took the time to find a few of the more common and the harder-to-find discounts that you can inquire about if you buy Oklahoma City auto insurance online.
- Active Military Service – Being on active duty in the military can result in better prices.
- Theft Deterrent System – Vehicles with anti-theft systems are stolen less frequently so companies will give you a small discount.
- E-sign Discounts – A few companies may give you up to $50 just for signing your application on their website.
- Early Switch Discount – Some insurance companies give discounts for signing up before your current expiration date. You could save around 10% when you buy Oklahoma City auto insurance online.
- Government Employees – Being employed by or retired from a federal job could cut as much as 10% off with select insurance companies.
- Passive Restraints – Options like air bags and/or automatic seat belt systems may earn rate discounts of 25 to 30%.
- Pay Upfront and Save – If paying your policy premium upfront instead of paying each month you could save 5% or more.
- Drive Less and Save – Fewer annual miles on your Tesla can qualify you for lower premium rates on the low mileage vehicles.
- Discount for Multiple Policies – When you have multiple policies with one insurance company you may earn as much as 10 to 15 percent.
As a disclaimer on discounts, some of the credits will not apply to the entire cost. Most only apply to individual premiums such as comprehensive or collision. Just because it seems like you can get free auto insurance, you won’t be that lucky. But any discount will definitely reduce your policy cost.
Large insurance companies and some of their more popular discounts include:
- GEICO has discounts for air bags, driver training, anti-theft, seat belt use, and multi-policy.
- Auto-Owners Insurance offers discounts for safe vehicle, paperless, paid in full, anti-theft, and group or association.
- American Family may have discounts that include air bags, TimeAway discount, Steer into Savings, multi-vehicle, and bundled insurance.
- Esurance policyholders can earn discounts including homeowner, online shopper, emergency road assistance, DriveSense, renters, good student, and multi-car.
- Progressive offers discounts including multi-vehicle, homeowner, continuous coverage, good student, online signing, multi-policy, and online quote discount.
- State Farm offers premium reductions for safe vehicle, multiple autos, passive restraint, good driver, Steer Clear safe driver discount, multiple policy, and anti-theft.
- AAA includes discounts for multi-policy, AAA membership discount, anti-theft, education and occupation, good driver, and pay-in-full.
When comparing rates, check with every insurance company which discounts can lower your rates. A few discounts might not be offered on policies in Oklahoma City. If you would like to view providers who offer cheap Tesla Model S insurance quotes in Oklahoma, click here to view.
Local Oklahoma City car insurance agents and car insurance
Many people still prefer to visit with an insurance agent and that is a smart decision A nice benefit of comparing rate quotes online is you may find lower rates and still have an agent to talk to.
Once you complete this short form, your insurance coverage information is instantly submitted to local insurance agents that give free quotes for your car insurance coverage. You won’t even need to even leave your home because prices are sent directly to your email. You can find lower rates without a big time investment. If you have a need to get a rate quote from a specific car insurance provider, you just need to visit that company’s website and complete a quote there.
Selecting an insurance company is decision based upon more than just a cheap price. The following questions are important to ask.
- What are the financial ratings for the companies they represent?
- Does their agency support local causes in Oklahoma City?
- How much will you save each year by using a higher deductible?
- How often do they review policy coverages?
- Are there any extra charges for paying monthly?
When researching a local insurance agency, it can be helpful to understand the different types of agencies and how they work. Insurance agencies in Oklahoma City are considered either exclusive or independent (non-exclusive).
Exclusive Insurance Agencies
Agents that elect to be exclusive can only provide pricing for a single company like Farmers Insurance and State Farm. They generally cannot compare other company’s rates so keep that in mind. Exclusive agents are well trained on their company’s products and that enables them to sell even at higher rates. Many people buy from exclusive agents mainly due to the brand legacy rather than low price.
Below are exclusive agencies in Oklahoma City who can help you get rate quotes.
- State Farm: Vicky Richey Insurance Agency Inc
8601 S Walker Ave – Oklahoma City, OK 73139 – (405) 635-0677 – View Map
- Rita Wallenberg – State Farm Insurance Agent
2833 SW 119th St – Oklahoma City, OK 73170 – (405) 691-2464 – View Map
- Jerry Black – State Farm Insurance Agent
12325 N May Ave #117 – Oklahoma City, OK 73120 – (405) 751-1860 – View Map
Independent Agencies or Brokers
Agents that choose to be independent do not have single company limitations so they have the ability to put coverage with any number of different companies and find the cheapest car insurance rates. If your premiums go up, an independent agent can move your coverage and you won’t have to switch agencies. If you need lower rates, you absolutely need to get insurance quotes from a couple of independent agencies so that you can do a thorough price comparison. Most also write with smaller companies that may have much lower rates than larger companies.
Listed below are independent agents in Oklahoma City that are able to give comparison quotes.
- Action Plus Insurance Agency
9005 S May Ave – Oklahoma City, OK 73159 – (405) 631-9009 – View Map
- Paul W. Meade Insurance Agency, Inc.
4220 N Classen Blvd – Oklahoma City, OK 73118 – (405) 524-1541 – View Map
- One General Agency
817 NE 63rd St – Oklahoma City, OK 73105 – (405) 840-9393 – View Map
What insurance coverages do I need?
When it comes to choosing your policy, there isn’t really a cookie cutter policy. Coverage needs to be tailored to your specific needs.
For instance, these questions might help in determining if your insurance needs may require specific advice.
- Do I have coverage if my license is suspended?
- Are my company tools covered if they get stolen?
- Is my Tesla Model S covered if I use it for business?
- Can I afford to buy a different vehicle if my Tesla Model S is totaled?
- Does liability extend to a camper or trailer?
- Are my custom wheels covered?
- What if I owe more than I can insure my car for?
- Should I waive the damage coverage when renting a car?
If you can’t answer these questions but you know they apply to you then you might want to talk to an agent. To find lower rates from a local agent, complete this form.
Quote. Compare. Save.
People switch companies for any number of reasons including delays in paying claims, unfair underwriting practices, lack of trust in their agent or even not issuing a premium refund. Whatever your reason, finding a new company is not as difficult as it may seem.
As you quote Oklahoma City auto insurance, it’s not a good idea to sacrifice coverage to reduce premiums. In many cases, drivers have reduced liability coverage limits and learned later that a couple dollars of savings turned into a financial nightmare. Your focus should be to find the BEST coverage at the best price while still protecting your assets.
Budget-conscious Tesla Model S insurance is attainable from both online companies as well as from insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. A few companies may not have online quoting and these smaller providers only sell coverage through independent agents.
More learning opportunities
- Prepare your Teens for Safe Driving (InsureUonline.org)
- Who Has Cheap Oklahoma City Car Insurance Quotes for a Company Car? (FAQ)
- What Auto Insurance is Cheapest for Retired Military in Oklahoma City? (FAQ)
- Determining Auto Insurance Rates (GEICO)
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Medical Payments Coverage (Liberty Mutual)
- Child Safety FAQ (iihs.org)