If you want to save the most money, the best way to find lower priced Tesla Model 3 insurance is to regularly compare quotes from companies who sell insurance in Lincoln. Drivers can shop around by following these steps.
- Try to learn a little about how insurance companies determine prices and the things you can change to drop your rates. Many rating factors that cause rate increases such as traffic tickets, fender benders, and an unacceptable credit history can be rectified by making lifestyle changes or driving safer.
- Compare price quotes from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give rate quotes from a single company like Progressive or Farmers Insurance, while agents who are independent can quote rates from multiple sources.
- Compare the new rates to the price on your current policy to see if a cheaper price is available in Lincoln. If you find a better price and buy the policy, make sure coverage is continuous and does not lapse.
An important bit of advice to remember is that you use identical coverages on each quote and and to get quotes from as many different insurance providers as possible. This ensures a level playing field and many rates to choose from.
It’s a known fact that auto insurance companies don’t want you shop around. People who compare rates annually are inclined to buy a new policy because they have good chances of finding coverage at a more affordable price. A recent survey found that people who make a habit of shopping around saved an average of $3,400 over four years compared to people who never shopped for cheaper rates.
If finding the lowest price for insurance in Lincoln is your ultimate target, then having a grasp of how to shop and compare car insurance can save time and make the process easier.
There are several ways to compare rate quotes from many available car insurance companies in Nebraska. The simplest method to find competitive Tesla Model 3 insurance rates involves getting comparison quotes online.
Doing online price quotes comparisons is so easy that it takes the place of having to physically go to and from local Lincoln insurance agencies. Comparing Tesla Model 3 insurance rates online reduces the need to sit down with an agent unless you want the peace of mind of an agent trained in personal lines coverage. However, consumers can price shop your coverage online but have a local agent actually write the policy. Just keep in mind that comparing a wide range of rates increases your odds of finding the best rates.
The companies shown below have been selected to offer quotes in Lincoln, NE. To get the cheapest auto insurance in Nebraska, it’s highly recommended you compare several of them in order to find the most affordable rates.
Why you need Tesla vehicle insurance in Nebraska
Despite the high cost of buying insurance for a Tesla Model 3 in Lincoln, maintaining insurance may not be optional for several reasons.
First, the majority of states have mandatory liability insurance requirements which means the state requires a specific level of liability insurance in order to drive the car legally. In Nebraska 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.
Second, if you have a lien on your car, most lenders will make it mandatory that you have full coverage to guarantee their interest in the vehicle. If the policy lapses, the bank will be required to insure your Tesla at a much higher premium rate and force you to pay much more than you were paying before.
Third, insurance preserves your Tesla Model 3 and your assets. It will also provide coverage for medical expenses incurred in an accident. As part of your policy, liability insurance will also pay for a defense attorney if you are sued as the result of an accident. If your car is damaged in a storm or accident, your insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of carrying enough insurance definitely exceed the price paid, especially with large liability claims. According to a recent study, the average American driver is wasting up to $850 per year so it’s recommended you shop around once a year at a minimum to be sure current rates are still competitive.
Insurance Price Influencing Factors
Lots of factors are part of the equation when premium rates are determined. Some are pretty understandable like an MVR report, but other criteria are less apparent such as your credit history or your commute time.
The itemized list below are some of the most common factors insurance companies consider when setting rates.
- Rate your vehicle for proper use – The higher the miles on your Tesla every year the higher your rate. A lot of insurance companies calculate prices based on how the vehicle is used. Cars and trucks used primarily for pleasure use receive lower rates as compared to vehicles used primarily for driving to work. Make sure your insurance policy states the proper vehicle usage, because it can save money. An incorrectly rated Model 3 may be costing you higher rates.
- Reserve claims for larger damages – If you tend to file frequent claims, you can expect much higher rates or policy non-renewal. Insurance companies in Nebraska generally give the lowest premiums to insureds who are claim-free. Your car insurance is intended to be relied upon for claims that you cannot pay yourself.
- Poor credit decisions can cost you – Having a bad credit score factor in determining what you pay. If your credit history leaves room for improvement, you may save money insuring your Tesla Model 3 by improving your rating. Insureds with very good credit scores tend to be better risks to insure as compared to drivers with bad credit.
- More traffic means higher claims – Choosing to live in less populated areas can save you money when shopping for auto insurance. People in densely populated areas have to deal with traffic congestion and longer commute times. Fewer drivers and short commutes corresponds to lower accident rates.
- Deter theft and save – Choosing a vehicle with anti-theft technology or alarm system can save you a little every year. Systems that thwart thieves such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent your car from being stolen.
- Premiums increase with driving tickets – How you drive has a big impact on rates. Having just one speeding ticket or other violation may cause rates to rise by as much as twenty percent. Good drivers pay lower auto insurance prices compared to bad drivers. Drivers with dangerous violations like reckless driving, hit and run or driving under the influence are required to maintain a SR-22 with their state’s licensing department in order to prevent a license revocation.
These discounts can cut Tesla Model 3 insurance rates
Auto insurance is easily one of your largest bills, but companies offer discounts that could drop your premiums quite a bit. Most are applied when you purchase, but a few must be inquired about in order for you to get them.
- Sign Online – Certain insurance companies will give you a small discount get Lincoln car insurance digitally online.
- First Accident Forgiveness – This one isn’t a discount, but a few companies such as GEICO, Progressive, and Allstate permit an accident without raising rates with the catch being you have to be claim-free prior to the accident.
- Federal Government Employee – Being employed by or retired from a federal job could provide a small rate reduction with a few auto insurance companies.
- Good Driver Discounts – Drivers without accidents can save as much as half off their rates compared to accident prone drivers.
- Anti-lock Brake System – Cars that have anti-lock braking systems are much safer to drive and earn discounts up to 10%.
- Discounts for Seat Belt Usage – Drivers who require all vehicle occupants to wear their seat belts can save a little on medical payment and PIP coverage.
- Air Bag Discount – Vehicles with factory air bags may get savings up to 30%.
- New Vehicle Savings – Buying coverage on a new vehicle can save up to 30% because newer vehicles keep occupants safer.
- Good Grades Discount – Excelling in school can get you a discount of up to 25%. The discount lasts until age 25.
As a sidenote, most discounts do not apply to the entire policy premium. Some only reduce the cost of specific coverages such as comprehensive or collision. So despite the fact that it appears you could get a free auto insurance policy, companies wouldn’t make money that way. Any qualifying discounts should definitely cut your policy premiums.
If you would like to see a list of insurers who offer online Tesla Model 3 insurance quotes in Nebraska, click here.
It’s not one size fits all
When selecting the best car insurance coverage, there is no single plan that fits everyone. Everyone’s needs are different and your policy should reflect that.
Here are some questions about coverages that can aid in determining whether your personal situation would benefit from professional advice.
- Am I covered by my spouse’s policy after a separation?
- Is my Tesla Model 3 covered for flood damage?
- Is borrowed equipment or tools covered if stolen or damaged?
- What is the rate difference between pleasure use and commuting?
- What is the premium to book value ratio for dropping full coverage?
- Am I covered if I hit a deer?
- Should I rate my vehicle as business use?
- Do I need PIP (personal injury protection) coverage in Nebraska?
- Should I file a claim if it’s only slightly more than my deductible?
If you can’t answer these questions but one or more may apply to you, you might consider talking to a licensed agent. To find an agent in your area, fill out this quick form or you can also visit this page to select a carrier
Getting quotes from local Lincoln insurance agencies
A small number of people just want to talk to an insurance agent and that can be a great decision One of the benefits of comparing rates online is the fact that drivers can get cheaper car insurance rates and still have an agent to talk to.
For easy comparison, once you complete this form (opens in new window), your coverage information is immediately sent to insurance agents in Lincoln who will give you quotes for your insurance coverage. You won’t need to drive around since price quotes are sent straight to your inbox. You can find better rates without a big time investment. If you wish to get a rate quote from a particular provider, feel free to search and find their rate quote page and give them your coverage information.
Choosing the best insurance company needs to be determined by more than just a cheap price. Here are some questions you might want to ask.
- If your car is totaled, how to they determine the replacement cost?
- Will the agent or a CSR service your policy?
- Is coverage determined by price?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Will they give you a referral list?
- Will the company cover a rental car if your car is getting fixed?
If you want to use a local insurance agency, there are two types of insurance agents from which to choose. Insurance policy providers may be either independent agents or exclusive agents.
Exclusive Insurance Agencies
Agents that elect to be exclusive write business for a single company like State Farm or Allstate. They usually cannot give you multiple price quotes so you might not find the best rates. Exclusive agents receive extensive training on their company’s products and that can be a competitive advantage.
The following is a short list of exclusive insurance agents in Lincoln who can help you get price quote information.
American Family Insurance – Tim Stewart Agency Inc.
5625 O St Ste 105 – Lincoln, NE 68510 – (402) 489-6211 – View Map
Independent Agents (or Brokers)
Independent agents are not restricted to one company so they can quote policies through many companies and get the cheapest rates. If prices rise, the agent simply finds a different carrier and you don’t have to switch agencies. When comparison shopping, we highly recommend that you get several quotes from several independent insurance agents for maximum quote selection.
Shown below are Lincoln independent agents who can help you get comparison quotes.
One last note
When you buy Lincoln car insurance online, you should never reduce coverage to reduce premium. There are a lot of situations where consumers will sacrifice liability limits or collision coverage to discover at claim time they didn’t purchase enough coverage. The ultimate goal is to buy a smart amount of coverage for the lowest cost while still protecting your assets.
Some insurance providers may not have rates over the internet and these smaller companies only sell through local independent agencies. Discount Tesla Model 3 insurance can be purchased on the web and from local insurance agents, and you need to comparison shop both to get a complete price analysis.
We covered many ideas to reduce Tesla Model 3 insurance premium rates online in Lincoln. It’s most important to understand that the more companies you get prices for, the more likely it is that you will get a better rate. You may even be surprised to find that the most savings is with the least-expected company. Some small companies often have lower prices on specific markets than their larger competitors like State Farm, GEICO and Nationwide.
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)
- Who Has Affordable Auto Insurance for a Toyota Corolla in Lincoln? (FAQ)
- What is Gap Insurance? (Insurance Information Institute)
- Insurance Losses by Make and Model (iihs.org)