Auto Insurance for Fisker Ocean

Fisker Ocean Los Angeles Auto Show-8

Fisker to offer auto insurance for Fisker Ocean electric SUV, but what does coverage cost today using a third-party? We take a look to find out.

Fisker Ocean Extreme at Los Angeles Auto Show.

Yesterday, Fisker confirmed that they will be offering auto insurance for the Fisker Ocean electric SUV. The auto insurance part of the company’s press release went largely under the radar.

Insurance will be offered through Fisker Finance. Fisker Finance is the company’s new financing arm. It will be used to lend money to consumers to purchase a Fisker Ocean and home chargers.

We wanted to dive a bit deeper to see what it may cost to insure the Fisker Ocean. We reached out to a third-party insurance provider to find out what it would cost today to insure the Fisker Ocean One.

Insuring Fisker Ocean

Fisker Ocean
Fisker Ocean Extreme at Beverly Hills car show.

After Fisker creates its lending products, they will expand their suite of financial tools for Fisker customers. Auto insurance will take pole position. This type of financial product makes sense, seeing that Fisker’s core competency is design and customer experience.

I’m not sure about you, but I’ve never really had an amazing auto insurance experience. There is something here for the company to reinvent and simplify. However, the company hasn’t provided us with any dates for when they’ll be offering auto insurance.

As a result of pre-ordering our Fisker Ocean One on Tuesday, we wanted to take a look at auto insurance rates. The $68,999 Fisker Ocean One launch edition will soon be ours. We can’t be more excited! However, with a purchase of a new vehicle comes the need of insuring it with the proper coverage.

Today, we have a Tesla Model 3 as our primary car. We wanted to see what it would cost us to get the same coverage as our Tesla Model 3. We contacted our current insurance company. Our current insurance provider is Geico — a fifteen minute call could save you fifteen percent or more! Here is what we learned.

Getting an insurance quote

The first question our insurance provider asked was whether or not we were in possession of the new vehicle. As you can probably imagine, we told the representative we haven’t received our vehicle at this time. We told them we may receive it at the end of this year or in Q1 2023. They asked this question, because they could speed up the process of providing an insurance quote.

If we had the vehicle, we could have provided the vehicle identification number (VIN). The VIN is the fingerprint of a vehicle. It includes the make and model of the vehicle and additional specification such as safety features. Because we didn’t have this info, and Fisker was not yet in their database, I had to provide Fisker’s website address. The representative went to the Fisker site and looked up the specifications of the Ocean One.

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Our Coverage

Fisker Ocean Electric SUVs
Fisker Ocean electric SUVs side-by-side.

To get the insurance quote, we used the same coverage on our Tesla Model 3. Also, it is worth noting our insurance quote for Fisker Ocean One included a new car discount and multi-policy discount. The quote removed the anti-theft discount since that is unknown at this time on the Fisker Ocean.

Since the Fisker Ocean One will be a new vehicle, we opted not to get coverage for emergency roadside assistance, rental reimbursement, and mechanical breakdown insurance. Our insurance coverage is listed below.

Please note we are based in Southern California. It goes without saying that insurance coverage varies state-by-state and you need to work with your insurance agent to select the right coverage for your specific needs.

DescriptionCoverages
UsagePersonal
Annual Mileage6,000
Operator TypePrincipal
Bodily Injury Liability$1MIL/$1MIL
Property Damage Liability$100,000
Uninsured Motorist & Underinsured Motorist$500,000/$500,000
Comprehensive (Excluding Collision)$500 Deductible
Collision$2,500 Deductible/Waiver
Uninsured Motorist Property Damage/Uninsured Motorist Property DamageNot Carried
Emergency Road ServiceNot Carried
Rental ReimbursementNot Carried
Mechanical Breakdown InsuranceNot Carried

The Insurance Quote

For example, our insurance rate for Fisker Ocean One would be $545.90 every 6 months. Using a side-by-side comparison, that is roughly $25 less than what we pay to insure the Tesla Model 3. That means the monthly rate for us would be $90.98.

Our insurance provider said our quote could be less once they find out what safety features will be on the vehicle. Also, the Fisker Ocean One may be eligible for an anti-theft discount. We were told features like these would lower our monthly premium.

We hope Fisker simplifies the insurance experience within the Fisker Flexee app while offering competitive rates at the same time. For those that have pre-ordered Fisker Ocean One, contact your insurance provider and let us know what you find out in the comments.


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