Trying to find the cheapest insurance for a Tesla Model S in Oklahoma could be difficult, but you can follow the following methods to make it easier.
There is a right way and a wrong way to compare auto insurance rates and you need to know the absolute fastest way to price shop coverage on a Tesla and get the cheapest rates.
Unimaginable but true, almost 70% of drivers kept their policy with the same company for more than four years, and approximately 38% of consumers have never compared quotes from other companies. The average driver in Oklahoma can save as much as $600 each year just by comparing rates, but they don’t believe the rate savings if they changed companies.
How Car Insurance Companies Calculate Tesla Model S Insurance Costs
Lots of things are part of the calculation when premium rates are determined. Some factors are common sense such as your driving history, but other factors are not as apparent like your vehicle usage or how safe your car is. Part of the insurance buying process is learning some of the elements that go into determining the price you pay for insurance. If you understand what controls the rates you pay, this allows you to make good choices that could result in lower premium levels.
The factors shown below are most of the major factors utilized by car insurance companies to help set your rate level.
Rates and vocation – Careers such as fire fighters, executives, and financial analysts tend to pay the highest average rates attributed to job stress and lengthy work days. On the other hand, jobs like professors, athletes and retirees have the lowest average rates.
Cars with good safety ratings are cheaper to insure – Cars with high safety ratings get lower rates. The safest vehicles help reduce the chance of injuries in an accident and lower injury rates translates into savings for insurance companies and more competitive rates for policyholders.
Gender impacts prices – Over the last 50 years, statistics have shown women tend to be less risk to insure than men. The data does not necessarily mean that males are worse at driving than females. Females and males tend to get into fender benders at a similar rate, but males have accidents that have higher claims. Men also statistically get more serious tickets like DUI and reckless driving.
Consolidate policies and save – Most insurers give better rates to customers who have multiple policies with them. It’s known as a multi-policy discount. This can amount to ten percent or more. If you currently are using one company, it’s in your best interest to check prices from other companies to help ensure you have the lowest rates.
Insurance loss data for Tesla Model S vehicles – Insurance companies use data from past claims when they set coverage costs for each model. Models that have higher frequency or amount of claims will have higher rates for specific coverages. The information below illustrates the insurance loss data for Tesla Model S vehicles.
For each policy coverage, the statistical loss for all vehicles combined as an average is considered to be 100. Numbers that are below 100 indicate better than average losses, while percentages above 100 indicate frequent claims or larger claims.
| Vehicle 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
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Compare Tulsa Tesla Model S insurance price quotes
Finding low cost Tesla Model S auto insurance rates is not a difficult process. You just have to take a couple of minutes comparing price quotes to find the company with the cheapest Tesla Model S rate quotes.
The following companies offer quotes in Tulsa, OK. If multiple companies are listed, it’s highly recommended you click on several of them to find the most competitive car insurance rates.
Why you need insurance for your Model S
Despite the high cost, buying auto insurance may not be optional for several reasons.
- Almost all states have compulsory liability insurance requirements which means you are required to carry a specific level of liability insurance if you don’t want to risk a ticket. In Oklahoma these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you took out a loan on your Tesla Model S, most banks will make it a condition of the loan that you have insurance to guarantee payment of the loan. If you do not keep the policy in force, the bank or lender will purchase a policy for your Tesla at an extremely high rate and force you to pay for the expensive policy.
- Insurance safeguards both your assets and your Tesla. It will also provide coverage for most medical and hospital costs for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, will also pay attorney fees if you are sued as the result of your driving. If you have damage to your Tesla as the result of the weather or an accident, your policy will pay all costs to repair after the deductible has been paid.
The benefits of insuring your car more than offset the price you pay, particularly for liability claims. Despite what companies tell you, the average driver is overpaying more than $865 each year so compare quotes from several companies once a year at a minimum to make sure the price is not too high.
Get affordable Tesla Model S insurance in Tulsa with discounts
Some insurance providers don’t always list all available discounts in an easy-to-find place, so the list below details some of the best known as well as some of the hidden discounts that you may qualify for. If you are not receiving all the discounts you qualify for, you could be paying more than you need to.
- Paperless Signup – Some larger companies will give a small break shop Tulsa auto insurance on the internet.
- Life Insurance Discount – Some insurance companies give a discounted rate on car insurance if you buy life insurance from them.
- Low Mileage Discounts – Low mileage vehicles can qualify you for lower prices on the low mileage vehicles.
- Senior Discount – Drivers over the age of 55 may qualify for a small decrease in premiums.
- Defensive Driver Discount – Taking a course in defensive driver is a good idea and can lower rates and easily recoup the cost of the course.
Consumers should know that most of the big mark downs will not be given to the whole policy. Most only cut specific coverage prices like comprehensive or collision. So despite the fact that it appears having all the discounts means you get insurance for free, companies wouldn’t make money that way.
A list of companies and their offered discounts can be read below.
- Farmers Insurance may include discounts for homeowner, good student, early shopping, distant student, pay in full, youthful driver, and switch companies.
- State Farm may have discounts that include passive restraint, student away at school, safe vehicle, driver’s education, defensive driving training, multiple autos, and multiple policy.
- Liberty Mutual offers premium reductions for new move discount, hybrid vehicle, teen driver discount, exclusive group savings, safety features, and preferred payment discount.
- MetLife discounts include good driver, claim-free, multi-policy, defensive driver, and accident-free.
- Progressive includes discounts for continuous coverage, multi-policy, multi-vehicle, good student, online quote discount, homeowner, and online signing.
Before purchasing a policy, check with every prospective company to apply every possible discount. Discounts may not apply in Tulsa. To see a list of providers with the best Tesla Model S insurance discounts in Oklahoma, follow this link.
Neighborhood insurance agents
A small number of people still like to have an agent’s advice and that is recommended in a lot of cases Insurance agents can point out coverage gaps and help you file claims. One of the best bonuses of getting online price quotes is that drivers can save money and get cheap car insurance quotes but still work with a licensed agent. Putting coverage with local agencies is important particularly in Tulsa.
Upon completion of this simple form, your coverage information gets sent to insurance agents in Tulsa who want to provide quotes for your insurance coverage. It makes it easy because there is no need to leave your house because quoted prices will be sent immediately to your email address. If you wish to compare rates from a specific insurance company, you can always visit that company’s website to submit a rate quote request.
When finding a reliable agent, you need to know there are two different types of agents that differ in how they can insure your vehicles. Car insurance agents in Tulsa can be categorized as either independent agents or exclusive agents depending on their employer. Both types of agents can provide car insurance policies, but it’s worth learning why they differ because it can influence the selection process.
Independent Agencies or Brokers
Independent insurance agents are not limited to a single company so they can insure your vehicles amongst many companies and find the cheapest rate. If they find a lower price, your agent can switch companies without you having to go to a different agency.
When comparing rate quotes, you need to get rate quotes from several independent agencies to maximize your price options. Many independent agencies also insure through smaller regional carriers which may have better rates.
The following is a partial list of independent agents in Tulsa that can possibly get you price quotes.
- Best Insurance Inc.
1618 W 51st St – Tulsa, OK 74107 – (918) 949-3555 – View Map - Charles G. Harris Insurance
4724 S Union Ave – Tulsa, OK 74107 – (918) 446-4421 – View Map - Tulsa Insurance Gu
427 South Boston Avenue, 518 – Tulsa, OK 74103 – (918) 574-6262 – View Map
Exclusive Insurance Agents
These type of agents have only one company to place business with and examples are AAA, Allstate, and State Farm. Exclusive agencies are unable to place coverage with different providers so keep that in mind. These agents are usually well trained on what they offer and that allows them to sell at a higher price point. Consumers frequently use the same exclusive agent primarily because of the prominent brand name and solid financial strength.
Listed below are exclusive insurance agencies in Tulsa that are able to give price quotes.
- Beverly Young – State Farm Insurance Agent
7112 S Mingo Rd #102b – Tulsa, OK 74133 – (918) 250-1550 – View Map - George Hazlett – State Farm Insurance Agent
6043 S Sheridan Rd – Tulsa, OK 74145 – (918) 496-0513 – View Map - Kelly Bell – State Farm Insurance Agent
10030 S Mingo Rd b – Tulsa, OK 74133 – (918) 459-0456 – View Map
Finding the right insurance agency needs to be determined by more than just the price. The answers to these questions are important, too.
- What discounts might you be missing?
- Can you get a list of referrals?
- How long have they worked with personal auto insurance coverage?
- Where would your vehicle be repaired?
- Are there any extra charges for paying monthly?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Is the agent properly licensed in Oklahoma?
- How many years have they been established?
Tulsa car insurance companies ranked
Buying coverage from the right company can be difficult considering how many choices there are in Oklahoma. The ranking information displayed below could help you decide which auto insurance companies you want to consider when looking for cheaper rates.
Top 10 Tulsa Car Insurance Companies Overall
- Travelers
- USAA
- Mercury Insurance
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
Top 10 Tulsa Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+
When do I need an agent’s advice?
When quoting and choosing coverage online or from an agent for your vehicles, there is no one-size-fits-all type of policy. Everyone’s situation is unique.
These are some specific questions might help in determining whether you will benefit from professional help.
- Which is better, split liability limits or combined limits?
- Does insurance cover damages from a DUI accident?
- Is pet coverage available?
- Who is covered when they drive my Tesla Model S?
- Should I buy more coverage than the required Oklahoma minimum liability coverage?
- What does medical payments cover?
- Is water damage covered by my policy?
If you can’t answer these questions but one or more may apply to you, you may need to chat with an agent. To find lower rates from a local agent, take a second and complete this form. It only takes a few minutes and can provide invaluable advice.
Be persistent to save money
Insureds switch companies for a number of reasons such as not issuing a premium refund, questionable increases in premium, delays in paying claims and even policy non-renewal. Regardless of your reason, switching car insurance companies is not as hard as you think.
Affordable Tesla Model S insurance in Tulsa can be bought on the web and with local Tulsa insurance agents, so you should be comparing quotes from both to have the best chance of lowering rates. A few companies do not offer online quoting and many times these regional insurance providers provide coverage only through independent agents.
In this article, we covered a lot of information how to compare Tesla Model S insurance auto insurance rates in Tulsa. It’s most important to understand that the more price quotes you have, the better chance you’ll have of finding inexpensive Tulsa auto insurance quotes. Consumers could even find that the lowest priced car insurance comes from the least-expected company.
How to find affordable Tesla Model S insurance in Tulsa
It takes a few minutes, but the best way to find cheaper prices for Tesla Model S insurance is to regularly compare quotes from companies who sell insurance in Tulsa. You can compare prices by completing these steps.
- Step 1: Get an understanding of what is in your policy and the things you can control to prevent rate increases. Many risk factors that are responsible for high rates such as speeding tickets, careless driving and a low credit score can be rectified by making small lifestyle or driving habit changes.
- Step 2: Request price quotes from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like GEICO and Allstate, while independent agencies can quote prices from multiple sources.
- Step 3: Compare the price quotes to the premium of your current policy to see if cheaper Model S coverage is available. If you can save some money and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
One thing to point out is to use the same amount of coverage on each quote and and to get rate quotes from as many auto insurance providers as possible. Doing this ensures a level playing field and many rates to choose from.
Even more information is located in these articles:
- Where can I buy Insurance? (Insurance Information Institute)
- What Auto Insurance is Cheapest for Drivers Over Age 50 in Tulsa? (FAQ)
- Who Has Affordable Tulsa Car Insurance for Electric Cars? (FAQ)
- Who Has Affordable Tulsa Car Insurance Rates for First-time Drivers? (FAQ)
- How to Avoid Buying a Flooded Car (Insurance Information Institute)
- Auto Insurance for Teen Drivers (Insurance Information Institute)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)