Do you want to save money by finding more competitive Tesla Model 3 insurance in Austin? Having to pay for pricey auto insurance in Austin can eat up your savings, especially in this economy. Performing a rate comparison can save money and help to lower your bills every month.
Unfortunately, almost 70% of insureds in Texas renewed their policy with the same company for at least four years, and just short of a majority have never compared quotes from other companies. U.S. insurance shoppers could cut their rates by nearly 47% a year, but they just don’t understand the amount of savings they would get if they switched to a more affordable policy. There is such a variety of insurance companies to buy insurance from, and although it’s nice to have multiple companies, lots of choices makes it harder to get the best deal for Tesla Model 3 insurance in Austin.
Buying the cheapest insurance in Austin is much easier if you have a good place to start. If you have insurance now, you should be able to shop for the lowest rates using the concepts you’re about to learn. Consumers just need to understand the most time-saving way to compare price quotes over the internet.
The method we recommend to compare rate quotes for Tesla Model 3 insurance in Austin is to know most insurance companies allow for online access to compare rate quotes. The only thing you need to do is give them some information such as whether you drive to work or school, marital status, if it has an anti-theft system, and distance driven. Your details is then submitted to all major companies and they return rate quotes instantly to find the best rate.
To check rates for your Tesla Model 3 now, click here then complete the form.
The following companies provide price quotes in Austin, TX. If multiple companies are shown, we suggest you visit two to three different companies to get the lowest price.
Three reasons to insure your Tesla Model 3
Despite the high insurance cost for a Tesla Model 3 in Austin, car insurance serves a purpose in several ways.
- The majority of states have minimum liability requirements which means state laws require a specific level of liability coverage in order to drive the car 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 your Tesla Model 3 has a lien holder, most lenders will have a requirement that you carry insurance to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the bank may buy a policy for your Tesla at a much higher rate and force you to pay the higher premium.
- Car insurance protects your car and your assets. It also can pay for hospital and medical expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance will also pay to defend you if you are named as a defendant in an auto accident. If your car is damaged in a storm or accident, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of carrying adequate insurance outweigh the cost, particularly when you have a large claim. An average driver in America is wasting up to $850 per year so compare rate quotes at every policy renewal to save money.
Affordable Austin insurance rates with discounts
Some insurers don’t list every available discount in a way that’s easy to find, so the following is a list of a few of the more common in addition to some of the lesser obvious ways to save on insurance.
- Low Mileage – Low mileage vehicles may enable drivers to earn lower prices due to less chance of an accident.
- Home Ownership Discount – Being a homeowner may trigger a policy discount on insurance because of the fact that having a home shows financial diligence.
- Distant Student – Kids who attend college more than 100 miles from Austin without a vehicle on campus may be insured at a cheaper rate.
- Onboard Data Collection – Insureds who allow their insurance company to spy on when and where they use their vehicle through the use of a telematics system like Drivewise from Allstate or In-Drive from State Farm could see a rate decrease if they show good driving skills.
- Student Discounts – Performing well in school can be rewarded with saving of up to 25%. Earning this discount can benefit you well after school through age 25.
- Military Deployment Discount – Being on active deployment in the military may qualify for rate reductions.
- Accident Waiver – Not necessarily a discount, but some companies like Liberty Mutual and GEICO will let one accident slide without the usual rate increase as long as you don’t have any claims for a specific time period.
- Senior Citizen Rates – Older drivers may qualify for lower premium rates.
- Claim-Free Discount – Drivers who don’t have accidents can earn big discounts when compared to insureds who have frequent claims or accidents.
You should keep in mind that most credits do not apply to all coverage premiums. Most only cut specific coverage prices like liability and collision coverage. Even though it appears having all the discounts means you get insurance for free, that’s just not realistic.
Some of the larger companies who might offer some of the discounts shown above are:
Double check with every insurance company to give you their best rates. Some discounts listed above might not be available to policyholders everywhere. If you would like to choose from a list of providers with significant discounts in Texas, click this link.
Your car insurance coverage should be tailored to you
Always keep in mind that when comparing your policy for your vehicles, there really isn’t a single plan that fits everyone. Everyone’s needs are different and a cookie cutter policy won’t apply.
Here are some questions about coverages that may help highlight if you might need an agent’s assistance.
- What does roadside assistance cover?
- Do I need replacement cost coverage?
- Does insurance cover tools stolen from my truck?
- Does my Tesla Model 3 qualify for pleasure use?
- Can my teen driver be rated on a liability-only vehicle?
- Is there coverage for my trailer?
If you don’t know the answers to these questions, you may need to chat with an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies. It only takes a few minutes and you can get the answers you need.
Buying from insurance agencies
Many drivers still prefer to get professional advice from a licensed agent and that is a personal choice. Good agents are trained to spot inefficiencies and help file insurance claims. One of the best bonuses of comparing insurance prices online is you can get better rates but still work with a licensed agent.
After completing this short form, your insurance coverage information is submitted to insurance agents in Austin who will give competitive quotes to get your business. It’s much easier because you don’t need to leave your house because prices are sent to the email address you provide. If you need to quote rates from a specific company, you can always search and find their rate quote page and fill out their quote form.
Picking the best insurer shouldn’t rely on just the quoted price. Any agent in Austin should be willing to answer these questions.
- What insurance company do they write the most business with?
- How much will you save each year by using a higher deductible?
- Do they specialize in personal lines coverage in Austin?
- When do they do policy reviews?
- Are they full-time agents?
Independent or Exclusive: It’s your choice
If you need to find an insurance agent, it can be helpful to understand the types of agencies from which to choose. Agents in Austin can be classified as either independent agents or exclusive agents depending on their employer. Both can sell affordable car insurance policies, but it is a good idea to know the differences because it can impact the kind of agent you use.
Exclusive Insurance Agencies
Agents that elect to be exclusive can only provide pricing for a single company and some examples include American Family, State Farm, and AAA. Exclusive agents cannot compare rates from other companies so they have no alternatives for high prices. Exclusive agencies are highly trained on sales techniques which helps overcome the inability to quote other rates.
Shown below are exclusive agents in Austin willing to provide price quotes.
Jane McQuiggin-Hutson – State Farm Insurance Agent
2307 W Parmer Ln – Austin, TX 78727 – (512) 973-8501 – View Map
Independent Agents (or Brokers)
These agents are not required to write business for one company so they can write business amongst many companies and potentially find a lower price. If prices rise, an independent agent can move your coverage and you can keep the same agent. If you are trying to find cheaper rates, you will definitely want to compare quotes from at a minimum one independent agency for maximum quote selection.
The following are Austin independent insurance agencies willing to provide comparison quotes.
AUSTIN AREA INSURANCE AGENCY
8711 Burnet Rd – Austin, TX 78757 – (512) 253-8726 – View Map
If you feel you receive good feedback to any questions you may have as well as an affordable premium quote, you have narrowed it down to a car insurance agent that can be relied on to adequately provide car insurance.
Car insurance coverage breakdown
Knowing the specifics of your car insurance policy can be of help when determining appropriate coverage and proper limits and deductibles. Policy terminology can be confusing and reading a policy is terribly boring. Below you’ll find the usual coverages found on most car insurance policies.
Comprehensive (Other than Collision)
This coverage pays for damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.
Comprehensive can pay for things such as rock chips in glass, damage from getting keyed, theft, hitting a deer and fire damage. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Protection from uninsured/underinsured drivers
Your UM/UIM coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Since a lot of drivers have only the minimum liability required by law (which is 30/60/25), it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family.
Coverage for collisions
Collision insurance will pay to fix damage to your Model 3 resulting from a collision with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers things such as sideswiping another vehicle, crashing into a ditch, hitting a mailbox and backing into a parked car. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. You can also increase the deductible on your Model 3 in order to get cheaper collision rates.
Liability insurance will cover damage or injury you incur to a person or their property. This insurance protects YOU from claims by other people. It does not cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 30/60/25 that means you have a $30,000 limit per person for injuries, a total of $60,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property.
Liability can pay for claims such as structural damage, legal defense fees and repair costs for stationary objects. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as large an amount as possible. Texas state minimum liability requirements are 30/60/25 but it’s recommended drivers buy higher limits.
Medical expense insurance
Medical payments and Personal Injury Protection insurance provide coverage for bills for prosthetic devices, surgery and rehabilitation expenses. The coverages can be used to fill the gap from your health insurance program or if you lack health insurance entirely. Coverage applies to both the driver and occupants in addition to getting struck while a pedestrian. PIP coverage is not available in all states and may carry a deductible
Don’t give up on cheaper rates
We covered a lot of tips how to get a better price on Tesla Model 3 insurance in Austin. The key thing to remember is the more companies you get auto insurance rates for, the better likelihood of getting the cheapest Tesla Model 3 rate quotes. Consumers could even find that the best rates are with a lesser-known regional company. These smaller insurers can often provide lower auto insurance rates in certain areas as compared to the big name companies such as GEICO and State Farm.
When getting Austin auto insurance quotes online, do not sacrifice coverage to reduce premiums. In many instances, an insured dropped full coverage only to discover later that their decision to reduce coverage ended up costing them more. The aim is to buy the best coverage you can find at the lowest possible cost but still have enough coverage for asset protection.
Additional car insurance information can be found at the links below
- Understanding your Policy (NAIC.org)
- How Much are Car Insurance Rates for a Subaru Outback in Austin? (FAQ)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)