Tesla Model S Insurance Rates

Estimated insurance rates for a Tesla Model S are $1,740 a year for full coverage. Comprehensive insurance costs on average $414 a year, collision insurance costs $800, and liability is estimated at $390. Liability-only coverage costs approximately $438 a year, and high-risk coverage costs $3,788 or more. 16-year-old drivers pay the most at up to $6,234 a year.

Average premium for full coverage: $1,740

Premium estimates by type of coverage:

These estimates include $500 policy deductibles, 30/60 liability limits, and includes both medical and uninsured motorist insurance. Rates include averaging for all states and Model S trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Living in a larger city can make a big difference on car insurance rates. Rural areas are statistically proven to have lower incidents of accident claims than congested cities. The diagram below illustrates how your location can change car insurance rates.

These rate differences show why it is important to get quotes based on a specific location, instead of making a decision based on rate averages.

Use the form below to get customized rates for your location.

Additional Rate Details

The chart below shows average Tesla Model S insurance rates for different risk profiles and scenarios.

• The best full coverage rate is $965
• Choosing higher $1,000 deductibles can save around $1,466 a year
• The estimated price for a 40-year-old good driver with $500 deductibles is $1,740
• Buying low $100 deductibles for comp and collision coverage will cost an additional $538 annually
• Higher-risk drivers with multiple tickets or accidents could pay upwards of $3,788
• An auto insurance policy that insures a 16-year-old driver may cost $6,234 each year

View Chart as Image

Insurance prices for a Tesla Model S also have a wide range based on the trim level of your Model S, how you drive, and policy deductibles and limits.

If you have a few violations or you caused an accident, you could be paying at a minimum $2,100 to $2,800 extra annually, depending on your age. A high-risk auto insurance policy ranges from 45% to 135% more than the average rate. View High Risk Driver Rates

Older drivers with a clean driving record and higher comprehensive and collision deductibles may pay as low as $1,600 annually on average, or $133 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records can expect to pay upwards of $6,200 a year. View Rates by Age

Where you choose to live plays a big part in determining prices for Tesla Model S insurance prices. A good driver about age 40 could pay as low as $1,150 a year in states like Idaho, Maine, and Iowa, or at least $2,480 on average in Michigan, Louisiana, and New York.

View Chart as Image

Opting for high physical damage deductibles can save as much as $820 annually, while buying higher liability limits will cost you more. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $351 more per year. View Rates by Deductible or Liability Limit

How to Find Cheap Tesla Model S Insurance

Finding better rates on insurance for a Tesla Model S takes avoiding accidents and claims, having above-average credit, not filing small claims, and determing if full coverage is necessary. Comparison shop at every policy renewal by getting price quotes from direct carriers, and also from local exclusive and independent agents.

The points below are a brief summary of the data illustrated above.

• Insureds who require increased liability limits will pay around $430 each year to raise limits from 30/60 bodily injury limits to the 250/500 level
• Drivers can save as much as $220 per year just by quoting early and online
• Increasing policy deductibles can save approximately $800 each year
• Drivers under the age of 20 pay the highest prices, as much as $520 per month if full coverage is included