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Tesla Insurance in Florida

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Tesla is a car manufacturer that has become increasingly prominent over the past decade for their dedication to creating all-electric, ultra-comfortable, and convenient vehicles. As more Americans make the switch from gasoline-powered to hybrid and all-electric vehicles, auto insurers across the country will have to make more adjustments to their coverage to account for the difference in maintenance, repair, and risk associated with these state-of-the-art cars. As one of the most highly populated states in the country, it’s no secret that sections of Florida can have steep insurance rates.

Read on to learn more about the Tesla company and their vehicles, how much it costs to insure a Tesla in Florida, how these rates compare to those in other states, and tips for saving overall on your car insurance costs.

What Is Tesla?

Tesla is an all-electric auto manufacturer that produces and sells a selection of sedans and SUVs with an impressive set of standard comfort, convenience, luxury, safety, and design features. Currently, Tesla manufactures four vehicles: the Model S, Model 3, Model X, and Model Y. They also produce solar roofs and panels that you can install to make your home run on solar power and subsequently much more efficient in both energy usage and cost.

Tesla vehicles have a reputation for being state-of-the-art in their design and have distinct features, such as their falcon-wing doors that open upward, a self-driving “autopilot” mode, and a completely touchscreen center console and infotainment system. Tesla’s have highly specialized mechanical and electric systems that make them costly to repair and maintain. You can only repair them at Tesla-approved body shops where technicians have special training to work with the more sensitive and costly vehicles.

How Much Does Tesla Insurance Cost in Florida?

According to Nerd Wallet, the average cost of insuring a Tesla vehicle in Florida can come out to $3,242 per year. They also report that the cheapest Tesla insurance in Florida comes from Travelers insurance at approximately $2,418 per year, on average, making Florida the most expensive state to insure a Tesla on its list. According to The Zebra, the average rate of car insurance in Florida is $1,878 per year, which is over 30% higher than the national average.

Not only does Florida have comparatively high car insurance rates, but the extra repair and maintenance costs associated with the Tesla brand make insuring these vehicles even more costly in the state. It’s important to note that car insurance costs can vary substantially based on external factors that impact the level of risk companies bargain with. Some elements that can influence your car insurance rates in Florida and across the country include:

  • City: Living in Florida, you may find yourself having to pay higher insurance rates than in less populated states, especially in large cities like Miami, Orlando, and Tampa. In general, places with larger populations and busier roads have higher insurance premiums because of the increased risk when driving.
  • Driving Record: Your driving history can also impact your insurance premiums, especially if you have a safe and clean record that proves your attentive driving skills to the insurer. Many companies offer discounts to certified safe drivers as an incentive for them to maintain their safe driving practices and reduce potential damages the insurer would have to cover.
  • Age: Age is another important factor when determining car insurance rates. Compared to most other states, Florida has a high population of senior drivers, which can make for increased risk on the road, as elderly people can lose their vision, hearing, and ability to react quickly to avoid collisions.

Tips For Saving on Tesla Insurance Costs in Florida

Living in Florida, you may find that certain parts of the state have higher insurance rates than others due to differences in population, traffic patterns, and tourism. With high costs of living, it’s important to know different methods for decreasing your insurance rates so you can better budget your income. Here are some tips you can follow to help reduce your monthly or annual insurance payments and save money in the long term:

  • Pay Your Premium All at Once: One sure way to save money on your car insurance payments is to pay your premium all at once as opposed to the more traditional monthly payments. Companies benefit from their customers paying premiums in advance, which is why they often offer discounts anywhere from 5% to 20% off in total insurance costs for those who pay annually and not monthly.
  • Get Quotes From Different Insurers: Before committing to any one insurer, consider getting free quotes from different insurance companies to determine which one can offer the best value in coverage compared to cost. Most insurance companies offer free quotes, so gather as many as you can and research discounts they offer to make an accurate calculation of how much you can save with each insurer.
  • Ask For Higher Deductibles: Another common method for saving money on your car insurance payments is to pay higher deductibles and lower monthly premiums. This is especially beneficial for those with a safe driving record, as they’re less likely to get into accidents, in which they would actually have to pay the higher deductible, and able to save month to month on their insurance costs thanks to lower premiums.

Buying a Tesla can be an incredibly exciting experience for new and seasoned car owners alike, but it’s important to place emphasis on the significance of finding quality insurance coverage. Beyond having a plan that protects you in the case of causing damages or having liabilities, it’s important that your insurance rates align with your lifestyle wants and needs. Insuring a Tesla vehicle in Florida doesn’t have to be an all-consuming expense if you put time and effort into finding the best deal available. Explore your options, including different companies, protection plans, and payment schedules to find the best one.

FIXD Research Team

At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.

We’re here to help you simplify car care and save, so this post may contain affiliate links to help you do just that. If you click on a link and take action, we may earn a commission. However, the analysis and opinions expressed are our own.


About the Author

FIXD Research Team

FIXD Research Team

At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.

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