[Fkmich99]

Anybody have an idea if we should expect a big increase in insurance costs for the ID.4? Just not sure what to expect...

 

[eldecarlo]

I put in Model 3 on my Geico app and it was $1200 a year. I’m thinking it’s going to be similar, but I’m going to call soon. It’s not a dealbreaker, although it is double what I’m paying on a 2019 Lincoln Nautilus. It was about the same MSRP.

 

[Drew18]

Jesus, I pay 900 a year Total for two newer (2019 and 2018) ICE vehicles and a 2018 motorcycle. Not a deal breaker still.

 

[ID.4]

I have a guesstimate from my insurance agent and the insurance is about 58% higher for the ID.4 than my newer Acura MDX. The Acura may have been a little more expensive a couple years ago. Also $200 additional fee for license plate tags every year for EV's. No state tax breaks at all in Ohio. Then there is the cost of the EVSE and the installation. There is only one Electrify America charging station in Cincinnati, on the other side of town, so no savings there to offset the additional costs. I'm hoping that the ID.4 is a fun and reliable car.

 

[Fkmich99]

I have a guesstimate from my insurance agent and the insurance is about 58% higher for the ID.4 than my newer Acura MDX. The Acura may have been a little more expensive a couple years ago. Also $200 additional fee for license plate tags every year for EV's. No state tax breaks at all in Ohio. Then there is the cost of the EVSE and the installation. There is only one Electrify America charging station in Cincinnati, on the other side of town, so no savings there to offset the additional costs. I'm hoping that the ID.4 is a fun and reliable car.

Luckily I have an Electrify station within 5 miles so I will use that vs at home charging. Agree on the BS $200 in Ohio... seems counterintuitive. Hopefully insurance doesn’t jump that much but good chance it will.

 

[Fkmich99]

FYI... I currently pay $505 per year on my Mazda... agent used a Tesla Model to give me new premium... was $810

 

[TT97]

Initially the insurance will be higher as insurance companies will not have any data on the cost to repair, once there is more data costs will start trickling down. Pointless to compare the cost to Tesla as Teslas are notoriously expensive to fix due to parts issues. Also does not make sense to compare prices on the forum as personal driving history and location are the biggest factor of price (even different zip codes in the same proximity can vary insurance prices a significant amount).

 

[ID.4]

Perfect driving record and my rates are generally low. That's why I gave a percentage increase to a comparably priced SUV.

 

[spaceid]

I did quotes for the e-Golf and Nissan Leaf to get an idea.

 

[eldecarlo]

I just spoke to my insurance company. ID.4 is $417 for 6 months. The Model Y was virtually the same. Not to bad in my book.

 

[nj_8035]

When we got our 2019 Model 3 I got several quotes and they were wildly different for the same coverage. Ended up switching companies and paying about the same as we had been, but if I hadn’t switched the cost would have tripled. The insurance companies were comparable — prices were not. Getting multiple quotes can pay off, especially for a new vehicle or an EV where there isn’t too much data out there.

 

[ID.4]

When we got our 2019 Model 3 I got several quotes and they were wildly different for the same coverage. Ended up switching companies and paying about the same as we had been, but if I hadn’t switched the cost would have tripled. The insurance companies were comparable — prices were not. Getting multiple quotes can pay off, especially for a new vehicle or an EV where there isn’t too much data out there.

Since you are also in Cincinnati, I am curious what your insurance company was and is if you don't mind. Thanks.

 

[nj_8035]

Since you are also in Cincinnati, I am curious what your insurance company was and is if you don't mind. Thanks.

Was Geico, now Progressive. I have no idea why the quotes were so different. Have renewed a couple of times since then and the rates haven’t changed much. Progressive was around $190 for six months for the Model 3. Geico quoted around $800 for the Model 3. Same car, same drivers, same coverage.

 

[nj_8035]

I put in Model 3 on my Geico app and it was $1200 a year. I’m thinking it’s going to be similar, but I’m going to call soon. It’s not a dealbreaker, although it is double what I’m paying on a 2019 Lincoln Nautilus. It was about the same MSRP.

Geico quote was crazy high for a Model 3 for us as well. Other companies' quotes were a lot lower, and we didn't end up paying any more for the Model 3 than the much older BMW X3 it replaced. Geico may be an outlier for Teslas or for EVs in general, but as others have said it's hard to compare quotes because there are so many variables.

 

[eldecarlo]

Geico was the $417 for ID.4 & Model Y. Must be locales?

 

[nj_8035]

Geico was the $417 for ID.4 & Model Y. Must be locales?

Pretty sure they just throw darts at a board with random prices on it and give you whatever they hit.

 

[ID.4]

Thanks for the info. I have a perfect driving record and have a guesstimate $750 from Cincinnati Insurance for the year. I have been with them for about 25 years.

 

[nj_8035]

Thanks for the info. I have a perfect driving record and have a guesstimate $750 from Cincinnati Insurance for the year. I have been with them for about 25 years.

That seems pretty reasonable. I'll have to give them a try when I'm pricing out insurance for the ID.4.

 

[MCheiron]

I just read an interesting article in the German magazine Der Spiegel. They analyzed German insurances and found that the costs for EVs are usually significantly less than for their ICE counterparts since most EVs are occurring less cost for the insurance companies due to more assistance systems.