Tesla Model S Insurance Rates
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Michelle Robbins
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UPDATED: Jun 6, 2024
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The average insurance rates for a Tesla Model S are $1,740 a year including full coverage. Comprehensive insurance costs an estimated $414 each year, collision costs $800, and liability is estimated at $390. Liability-only insurance costs approximately $438 a year, with high-risk driver insurance costing $3,788 or more. Teens cost the most to insure at $6,234 a year or more.
Average premium for full coverage: $1,740
Policy rates broken down by type of insurance:
These estimates include $500 comprehensive and collision deductibles, 30/60 bodily injury liability limits, and includes medical and UM/UIM coverage. Prices are averaged for all 50 U.S. states and Model S models.
Price Range Variability
For a driver around age 40, Tesla Model S insurance rates go from the low end price of $438 for just liability insurance to a high rate of $3,788 for a driver who requires high-risk insurance.
Urban vs. Rural Price Range
Living in a larger city can have significant affects on the price of auto insurance. More rural locations are shown to have lower incidents of comprehensive and collision claims than cities with more traffic congestion.
The graphic below illustrates the difference between rural and urban areas on insurance prices.
The examples above highlight why all drivers should get quotes for a targeted area, instead of using averaged prices.
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.
More Rate Details
The chart below breaks down estimated Tesla Model S insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $965
- Choosing higher $1,000 deductibles can save approximately $274 every year
- The estimated price for a good driver age 40 who has $500 deductibles is $1,740
- Selecting low deductibles for comp and collision coverage will cost an additional $538 every year
- Unlucky drivers with serious driving violations could pay up to $3,788 or more
- Policy cost that insures a teen driver can cost as much as $6,234 each year
Auto insurance rates for a Tesla Model S also range considerably based on the trim level and model year, your driving record and age, and liability limits and deductibles.
If you have a few points on your driving record or you caused an accident, you are likely paying $2,100 to $2,800 in extra premium every year, depending on your age. Insurance for high-risk drivers ranges as much as 45% to 135% more than the average policy. View High Risk Driver Rates
More mature drivers with a good driving record and higher comprehensive and collision deductibles may pay as little as $1,600 annually on average, or $133 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records will have to pay at least $6,200 a year. View Rates by Age
Your home state plays a big part in determining prices for Tesla Model S insurance prices. A good driver about age 40 could pay as low as $1,340 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,480 on average in Louisiana, New York, and Michigan.
| 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% |
Choosing higher comprehensive and collision insurance deductibles can save as much as $820 every year, whereas increasing liability limits will increase premiums. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $351 extra every year. View Rates by Deductible or Liability Limit
Because rates have so much variability, the best way to figure out which auto insurance is cheapest is to do a rate comparison and see which company has the best rate. Each auto insurer calculates rates differently, and quoted rates will be varied.
| 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 Find Cheap Tesla Model S Insurance
Finding cheaper rates on car insurance takes having a decent driving record, maintaining a good credit score, paying for small claims out-of-pocket, and qualifying for all possible discounts. Compare rates at every other renewal by obtaining price quotes from direct car insurance companies, and also from your local car insurance providers.
The following items are a brief summary of the concepts that were covered above.
- Higher risk drivers that tend to have accidents or serious violations could be charged and average of $2,050 more annually than a driver with a clean driving record
- 16 to 18-year-old drivers are the costliest to insure, with premiums being up to $520 each month if the policy includes full coverage
- You may be able to save approximately $220 per year simply by quoting online in advance
- Increasing comprehensive and collision deductibles can save approximately $800 each year
- You may be able to save approximately $220 per year simply by quoting online in advance
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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