It’s hard to fathom, but the vast majority of Florida insurance customers kept their coverage with the same insurance company for at least four years, and 38% of drivers have never compared insurance rates at all. Drivers in the U.S. can cut their rates by roughly $850 a year by just comparing rate quotes, but they mistakenly think it’s difficult to compare rates and save money.
If your goal is the lowest price, then the best way to get budget Tesla Model S insurance in Tampa is to annually compare prices from providers who sell auto insurance in Florida. Price quotes can be compared by completing these steps.
- Get an understanding of how your policy works and the things you can control to drop your rates. Many factors that are responsible for high rates like traffic citations, accidents, and an unacceptable credit rating can be eliminated by making minor changes to your lifestyle.
- Request price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from one company like Progressive or Farmers Insurance, while agents who are independent can provide price quotes from many different companies.
- Compare the new rate quotes to your existing rates and determine if there is any savings. If you find a better price, make sure coverage is continuous and does not lapse.
- Notify your company or agent of your intention to cancel your current coverage and submit a down payment along with a completed application for your new policy. As soon as coverage is bound, place the new certificate of insurance in your vehicle’s glove compartment or console.
An important bit of advice to remember is to make sure you enter the same liability limits and deductibles on every price quote and to quote with as many car insurance companies as possible. Doing this ensures an accurate price comparison and a thorough selection of prices.
The following companies provide comparison quotes in Tampa, FL. If you want cheap car insurance in Tampa, we suggest you get prices from several of them to get the best price comparison.
Discounts can help to save on Tesla Model S insurance in Tampa
Some providers don’t list every possible discount in a way that’s easy to find, so below is a list some of the best known and the harder-to-find discounts that you may qualify for.
- Theft Deterrent System – Anti-theft and alarm system equipped vehicles are stolen less frequently and therefore earn up to a 10% discount.
- Drive Safe and Save – Drivers who avoid accidents could pay up to 40% less than drivers with accidents.
- Discounts for New Vehicles – Putting coverage on a new Model S may earn a small discount compared to insuring an older model.
- Bundled Policy Discount – If you can combine your auto and homeowners policy with one company you could get a discount of at least 10% off all policies.
- ABS and Traction Control Discounts – Cars and trucks equipped with ABS or steering control are safer to drive so you can save 10 percent or more.
- Accident Free – Insureds who avoid accidents and claims can earn big discounts when compared to insureds who have frequent claims or accidents.
- Accident Forgiveness – Not a discount per se, but some insurance companies will turn a blind eye to one accident without raising rates so long as you are claim-free prior to the accident.
- Multi-line Discount – Not every insurance company offers life insurance, but if they do you may earn a discount if you purchase some life insurance in addition to your auto policy.
As a footnote on discounts, some credits don’t apply to the entire cost. Most only reduce the price of certain insurance coverages like liability, collision or medical payments. If you do the math and it seems like you can get free auto insurance, companies wouldn’t make money that way. But all discounts will lower the amount you have to pay.
A few of the larger companies and the discounts they provide are outlined below.
- State Farm policyholders can earn discounts including Steer Clear safe driver discount, good driver, anti-theft, good student, Drive Safe & Save, and multiple autos.
- GEICO may include discounts for defensive driver, anti-theft, seat belt use, good student, military active duty, and daytime running lights.
- Progressive offers premium reductions for online signing, multi-vehicle, multi-policy, good student, and homeowner.
- 21st Century offers discounts for good student, 55 and older, driver training, homeowners, and anti-lock brakes.
- American Family discounts include accident-free, multi-vehicle, bundled insurance, good driver, and TimeAway discount.
- The Hartford offers discounts including bundle, air bag, driver training, good student, vehicle fuel type, defensive driver, and anti-theft.
- AAA includes discounts for AAA membership discount, anti-theft, multi-policy, good student, education and occupation, and pay-in-full.
It’s a good idea to ask every prospective company which credits you are entitled to. A few discounts may not apply in your area. For a list of insurance companies that can offer you the previously mentioned discounts in Florida, click here.
Compare rates but still have a local neighborhood Tampa car insurance agent
Many drivers just want to buy from a local agent and often times that is recommended Licensed agents are trained to spot inefficiencies and help submit paperwork. An additional benefit of price shopping on the web is that you can find lower rates and still choose a local agent. And buying from neighborhood insurance agencies is definitely important in Tampa.
Upon completion of this short form, the quote information is transmitted to local insurance agents who will give you quotes and help you find cheaper coverage. It’s much easier because you don’t need to even leave your home because quoted prices will be sent directly to your email. If for some reason you want to compare prices for a specific company, you can always find their quoting web page and fill out the quote form the provide.
If you are wanting to purchase auto insurance from a good Tampa insurance agent, there are two types of agencies and how they are slightly different. Auto insurance agents may be either exclusive agents or independent agents. Both types can handle auto insurance, but it’s important to know how they are different since it can impact which agent you choose.
Independent Agencies or Brokers
Agents of this type are not limited to a single company and that gives them the ability to insure with lots of companies and potentially find a lower price. If your premiums go up, your agent can switch companies and you don’t have to do anything. When comparison shopping, we recommend you compare prices from a couple of independent agencies to have the best price comparison.
Below is a short list of independent insurance agencies in Tampa who can help you get comparison quotes.
GreatFlorida Insurance – Bill Sullivan
10353 Cross Creek Blvd Suite C – Tampa, FL 33647 – (813) 994-1143 – View Map
GreatFlorida Insurance – Mike Polivchak
3928 W Hillsborough Ave – Tampa, FL 33614 – (813) 870-2334 – View Map
E J Ferro Insurance Agency
Tampa, FL 33647 – Tampa, FL 33647 – (813) 926-1515 – View Map
Exclusive Auto Insurance Agents
Agents that choose to be exclusive can only write with one company and some examples include State Farm, AAA, and Liberty Mutual. Exclusive agents cannot give you multiple price quotes so if the price isn’t competitive there isn’t much they can do. They are very knowledgeable on their company’s products which helps them compete with independent agents.
The following are exclusive insurance agencies in Tampa willing to provide comparison quotes.
Ray Mathews – State Farm Insurance Agent
15271 Amberly Dr – Tampa, FL 33647 – (813) 978-1898 – View Map
Adi Khorsandian – State Farm Insurance Agent
20752 Center Oak Dr – Tampa, FL 33647 – (813) 991-4111 – View Map
Shirin Khorsandian – State Farm Insurance Agent
2734 E Fowler Ave, Ste A – Tampa, FL 33612 – (813) 971-6060 – View Map
Choosing the best car insurance agent needs to be determined by more than just the quoted price. Any agent in Tampa should have no problem answering these questions:
- When do they do a full risk review?
- What kind of financial rating does the company have?
- If independent agents, which companies do they recommend?
- Does the agency support the community they serve?
- How much will you save each year by using a higher deductible?
- Can you contact them at any time?
- How many years have they been established?
You Can Change Your Insurance Prices
Many factors are used when premium rates are determined. Some are obvious such as your driving history, but others are not as apparent like where you live and annual miles driven. Smart consumers have a good feel for the rating factors that come into play when calculating your premiums. When you know what positively or negatively determines premiums, this enables informed choices that may result in big savings.
Keep premiums low by being claim-free – Auto insurance companies in Florida generally give the lowest premiums to people who do not rely on their insurance for small claims. If you’re an insured who likes to file claims you can look forward to either a policy non-renewal or much higher rates. Auto insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
Which gender costs less? – Over the last 30 years, statistics show that females take fewer risks when driving. Now that doesn’t mean males are worse at driving than females. Females and males have auto accidents in similar percentages, but males get into accidents with more damage. Men also tend to get cited for more serious violations like DWI (DUI) or reckless driving.
Save money with theft deterrents – Buying a car that has a built-in theft deterrent system can save you a little every year. Theft prevention devices like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all hinder auto theft and help lower rates.
Cautious drivers pay the best costs – Only having one moving violation can increase rates by as much as twenty percent. Drivers with clean records pay lower auto insurance prices than people who have multiple driving citations. Drivers who have received multiple violations like hit and run, DWI or reckless driving convictions may find they need to submit a SR-22 form with the DMV in their state in order to prevent a license revocation.
Drive lots and pay more – Driving more miles every year the more you’ll pay to insure it. Many insurance companies calculate prices based on their usage. Cars and trucks that sit idle most of the time cost less to insure than those that get driven frequently. Ask your agent if your policy properly reflects the correct usage. Improper usage on your Model S can cost quite a bit.
Five star crash test rating saves money – Vehicles that have high safety ratings can get you lower premiums. Highly rated vehicles protect occupants better and fewer serious injuries means your insurance company pays less which can result in lower premiums. If your Tesla scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
Your liability limits – Liability coverage will provide protection if you are found to be at fault for causing personal injury or damage in an accident. Liability insurance provides legal defense coverage to defend your case. Carrying liability coverage is mandatory and cheap compared to other policy coverages, so do not cut corners here.
Eliminate incidental coverages – There are quite a few additional extra coverages that you can buy if you aren’t careful. Coverages for vanishing deductibles, high-cost glass coverage, and motor club memberships may be costing you every month. The coverages may be enticing when you first buy your policy, but if you have no use for them think about removing them and cutting costs.
Loss probability for a Tesla Model S – Insurers analyze past claim statistics when they calculate premium rates for each model. Models that the data shows to have a higher amount or frequency of claims will cost more for coverage. The information below illustrates the insurance loss data for Tesla Model S vehicles.
For each coverage category, the claim probability for all vehicles combined as an average is set at 100. Values that are 100 or less indicate better than average losses, while values over 100 point to more claims or tendency to have 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
It may be expensive, but it’s not optional
Despite the high cost of buying insurance for a Tesla Model S in Tampa, maintaining insurance is required in Florida but it also protects you in many ways.
- Most states have minimum liability requirements which means the state requires a minimum amount of liability coverage in order to drive the car legally. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a lien on your vehicle, more than likely the lender will force you to have insurance to guarantee payment of the loan. 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 for the much more expensive policy.
- Insurance safeguards both your car and your personal assets. It will also cover medical transport and hospital expenses that are the result of an accident. Liability coverage will also pay to defend you if anyone sues you for causing an accident. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage.
The benefits of having insurance more than offset the price you pay, particularly when you have a large claim. But the average American driver overpays as much as $865 each year so compare rates each time the policy renews to make sure the price is not too high.
Do the work, save more money
We’ve covered many ideas to find lower-cost Tesla Model S insurance in Tampa. The most important thing to understand is the more rate quotes you have, the higher the chance of saving money. Consumers could even find that the lowest priced car insurance comes from the least-expected company. Regional companies often have lower premium rates on specific markets than the large multi-state companies such as State Farm, GEICO and Nationwide.
The cheapest Tesla Model S insurance in Tampa is definitely available from both online companies and from local agencies, and you should compare price quotes from both to get a complete price analysis. Some insurance providers may not have price quotes online and these regional carriers provide coverage only through independent insurance agencies.
Other information
- Young Drivers: The High Risk Years Video (iihs.org)
- How Much is Auto Insurance for 4×4 Vehicles in Tampa? (FAQ)
- Who Has Affordable Car Insurance Rates for a 20 Year Old Male in Tampa? (FAQ)
- How Much are Auto Insurance Rates for Drivers Under 21 in Tampa? (FAQ)
- Who Has Cheap Tampa Car Insurance for Welfare Recipients? (FAQ)
- Anti-Lock Brake FAQ (iihs.org)
- Uninsured Motorist Statistics (Insurance Information Institute)