Tesla Model S Insurance Rates
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UPDATED: Jun 6, 2024
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U.S. average insurance prices for a Tesla Model S are $1,740 every 12 months including full coverage. Comprehensive insurance costs around $414, collision insurance costs $800, and liability is $390. Liability-only coverage costs around $438 a year, and high-risk coverage costs $3,788 or more. Teen drivers pay the highest rates at up to $6,234 a year.
Average premium for full coverage: $1,740
Price estimates for individual coverage:
Full coverage includes $500 deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all 50 U.S. states and for all Model S models.
Price Range from Low to High
Using a 40-year-old driver as an example, Tesla Model S insurance prices range from the cheapest price of $438 for liability-only coverage to the much higher price of $3,788 for coverage for higher-risk drivers.
Geographic Price Range
Choosing to live in a large city can make a big difference on the price of insurance. Areas with sparse population have more infrequent comprehensive and collision claims than larger metro areas. The example below illustrates how rural and urban location affects auto insurance rates.
The ranges above highlight why everyone should compare rates quotes for a specific zip code and their own driving history, instead of making a decision based on price averages.
Use the form below to get customized rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Additional Charts and Tables
The chart below breaks down average Tesla Model S insurance rates for additional coverage choices and driver risks.
- The lowest rate with discounts is $965
- Raising to $1,000 deductibles will save about $274 every year
- The average price for the average middle-age driver using $500 deductibles is $1,740
- Choosing pricier low deductibles costs an extra $538 annually
- Drivers with multiple violations and an at-fault accident could pay at least $3,788
- The price to insure a 16-year-old driver for full coverage can be $6,234
Auto insurance prices for a Tesla Model S are also quite variable based on deductibles and policy limits, your driving characteristics, and the trim level and model year.
Choosing high deductibles can reduce prices by up to $820 annually, whereas buying more liability protection will increase prices. Changing from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $351 extra every year. View Rates by Deductible or Liability Limit
A more mature driver with a good driving record and higher deductibles may pay as low as $1,600 every 12 months on average for full coverage. Prices are highest for teenage drivers, since even excellent drivers will have to pay as much as $6,200 a year. View Rates by Age
If you have some driving violations or you were responsible for an accident, you are likely paying at least $2,100 to $2,800 in extra premium each year, depending on your age. Tesla Model S insurance for high-risk drivers is expensive and can cost from 45% to 135% more than average. View High Risk Driver Rates
The state you live in also has a big influence on Tesla Model S insurance prices. A middle-age driver might find prices as low as $1,340 a year in states like Missouri, New Hampshire, and Vermont, or as much as $2,480 on average in Michigan, New York, and Louisiana.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,572 | -$168 | -9.7% |
| Alaska | $1,336 | -$404 | -23.2% |
| Arizona | $1,444 | -$296 | -17.0% |
| Arkansas | $1,740 | -$0 | 0.0% |
| California | $1,984 | $244 | 14.0% |
| Colorado | $1,662 | -$78 | -4.5% |
| Connecticut | $1,788 | $48 | 2.8% |
| Delaware | $1,968 | $228 | 13.1% |
| Florida | $2,174 | $434 | 24.9% |
| Georgia | $1,610 | -$130 | -7.5% |
| Hawaii | $1,250 | -$490 | -28.2% |
| Idaho | $1,180 | -$560 | -32.2% |
| Illinois | $1,298 | -$442 | -25.4% |
| Indiana | $1,312 | -$428 | -24.6% |
| Iowa | $1,174 | -$566 | -32.5% |
| Kansas | $1,654 | -$86 | -4.9% |
| Kentucky | $2,376 | $636 | 36.6% |
| Louisiana | $2,576 | $836 | 48.0% |
| Maine | $1,076 | -$664 | -38.2% |
| Maryland | $1,436 | -$304 | -17.5% |
| Massachusetts | $1,390 | -$350 | -20.1% |
| Michigan | $3,022 | $1,282 | 73.7% |
| Minnesota | $1,460 | -$280 | -16.1% |
| Mississippi | $2,084 | $344 | 19.8% |
| Missouri | $1,546 | -$194 | -11.1% |
| Montana | $1,870 | $130 | 7.5% |
| Nebraska | $1,370 | -$370 | -21.3% |
| Nevada | $2,088 | $348 | 20.0% |
| New Hampshire | $1,256 | -$484 | -27.8% |
| New Jersey | $1,946 | $206 | 11.8% |
| New Mexico | $1,540 | -$200 | -11.5% |
| New York | $1,832 | $92 | 5.3% |
| North Carolina | $1,002 | -$738 | -42.4% |
| North Dakota | $1,426 | -$314 | -18.0% |
| Ohio | $1,200 | -$540 | -31.0% |
| Oklahoma | $1,786 | $46 | 2.6% |
| Oregon | $1,594 | -$146 | -8.4% |
| Pennsylvania | $1,658 | -$82 | -4.7% |
| Rhode Island | $2,322 | $582 | 33.4% |
| South Carolina | $1,578 | -$162 | -9.3% |
| South Dakota | $1,468 | -$272 | -15.6% |
| Tennessee | $1,524 | -$216 | -12.4% |
| Texas | $2,098 | $358 | 20.6% |
| Utah | $1,290 | -$450 | -25.9% |
| Vermont | $1,190 | -$550 | -31.6% |
| Virginia | $1,042 | -$698 | -40.1% |
| Washington | $1,344 | -$396 | -22.8% |
| West Virginia | $1,596 | -$144 | -8.3% |
| Wisconsin | $1,204 | -$536 | -30.8% |
| Wyoming | $1,550 | -$190 | -10.9% |
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Tesla Model S | $532 | $1,130 | $338 | $2,136 |
| 2023 Tesla Model S | $514 | $1,104 | $354 | $2,108 |
| 2022 Tesla Model S | $496 | $1,058 | $364 | $2,054 |
| 2021 Tesla Model S | $470 | $1,020 | $376 | $2,002 |
| 2020 Tesla Model S | $452 | $946 | $384 | $1,918 |
| 2019 Tesla Model S | $432 | $892 | $388 | $1,848 |
| 2018 Tesla Model S | $414 | $800 | $390 | $1,740 |
| 2017 Tesla Model S | $388 | $736 | $390 | $1,650 |
| 2016 Tesla Model S | $374 | $690 | $394 | $1,594 |
| 2014 Tesla Model S | $338 | $598 | $402 | $1,474 |
| 2013 Tesla Model S | $330 | $542 | $406 | $1,414 |
| 2012 Tesla Model S | $306 | $496 | $402 | $1,340 |
Rates are averaged for all Tesla Model S models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Shop for More Affordable Tesla Model S Insurance
Getting lower rates on insurance for a Tesla Model S consists of not taking risks behind the wheel, having a good credit score, being claim-free, and possibly raising deductibles. Set aside time to shop around at least once a year by requesting quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
The following is a summary of the primary concepts that were raised in the charts and tables above.
- You may be able to save up to $220 per year just by quoting online well ahead of the renewal date
- Drivers considered higher risk who have multiple accidents or major violations could be forced to pay on average $2,050 more every year for Model S insurance
- Increasing physical damage deductibles could save as much as $800 each year
- Teens are expensive to insure, possibly costing $520 a month if comprehensive and collision insurance is included
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,234 |
| 20 | $4,028 |
| 30 | $1,838 |
| 40 | $1,740 |
| 50 | $1,588 |
| 60 | $1,560 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,278 |
| $250 | $2,028 |
| $500 | $1,740 |
| $1,000 | $1,466 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,740 |
| 50/100 | $1,818 |
| 100/300 | $1,916 |
| 250/500 | $2,169 |
| 100 CSL | $1,857 |
| 300 CSL | $2,072 |
| 500 CSL | $2,228 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,982 |
| 20 | $6,420 |
| 30 | $3,898 |
| 40 | $3,788 |
| 50 | $3,610 |
| 60 | $3,578 |
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
| Discount | Savings |
|---|---|
| Multi-policy | $96 |
| Multi-vehicle | $91 |
| Homeowner | $24 |
| 5-yr Accident Free | $140 |
| 5-yr Claim Free | $116 |
| Paid in Full/EFT | $88 |
| Advance Quote | $92 |
| Online Quote | $128 |
| Total Discounts | $775 |
Discounts are estimated and may not be available from every company or in every state.
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