Anyone know if insurance is cheaper on a Lightning compared to a Tesla Model 3? I’m looking to compare rates and see which one might be a better option.
Definitely- my quotes on the Lightning were about $500/6mo, while the Model 3 was like $800/6mo.
I had a 2016 Model S. My insurance dropped with my 2023 Lariat!
Had a Model Y and paid $155, with the Lightning it’s $105. Model 3 would’ve been $140 and a Cybertruck was $210. All quotes include a 2018 van.
That’s what I was thinking, thanks! I keep trying to look for ways to pull the trigger on a Lightning!
Grey said:
That’s what I was thinking, thanks! I keep trying to look for ways to pull the trigger on a Lightning!
If you’re getting a great deal and work is stable, just do it. You’ll notice the money saved in electricity.
@Vince
Bought my second Model 3 two months ago. I am regretting it now. Big FOMO but couldn’t get a good deal without an Xplan.
Varies greatly by provider. Mine is currently about 3x what Model 3 was with Tesla insurance.
I owned a Lightning ER Lariat and my daughter has a RWD Model 3 on the same policy. The 6-month rate on my Lightning is $586 while the Model 3 is close to $900.
My GEICO bills the Lightning as any other F-150, whereas the Tesla was billed as an EV, and jumps up like $800/6 months.
Roux said:
My GEICO bills the Lightning as any other F-150, whereas the Tesla was billed as an EV, and jumps up like $800/6 months.
The safety track record of the F150 is helping most of us out here.
Just find a VIN number online and get an actual quote. For me, it was much cheaper.
I got quotes on both. The Lightning was far cheaper. Tesla is typically much more expensive to repair, so they get written off a lot more.
I pay $77/month for full coverage and $0 deductibles through Progressive for my Lightning. By far the cheapest insurance I’ve ever had (my old Tesla Model X included).
I have a 2018 Model 3, a 2021 Model Y, AND a 2024 F150 XLT. For those three, my six-month costs for $500k/$1m coverage from State Farm are: $337, $408, $450. So F150 is the highest, but also the newest.
I think mine is billed as a regular F-150. I am not sure they even flag it as an EV at all.
My Lightning was cheaper than my S.
We have a 2024 Lightning Flash and a 2023 Tesla Model Y. The Lightning is $630 for 6 months. The Tesla is $623 for 6 months. Same coverage/deductibles on both.
Unlikely. The Model 3 is a cheaper, smaller car. As such, the Model 3 is likely to be cheaper to insure than the Lightning. I went from a Model S to the Lightning, and my insurance went up, but I’m attributing that to the fact that the 9-year-old Model S was worth less than the brand new Lightning.
@Atlas
I went from a 2015 Subaru Legacy to a 2024 Lightning Lariat and my premium only went up $25/month. I’d previously gotten quotes on a Model Y and they were $100+ more. Made no sense to me.