Tesla Model S Insurance Rates
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Michelle Robbins
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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 with full coverage. Comprehensive insurance costs on average $414, collision costs $800, and liability costs $390. A policy with just liability insurance costs as little as $438 a year, with coverage for high-risk drivers costing $3,788 or more. Teen drivers pay the highest rates at $6,234 a year or more.
Average premium for full coverage: $1,740
Price estimates by individual coverage:
Price estimates include $500 deductible amounts, 30/60 bodily injury liability limits, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all U.S. states and for different Model S trim levels.
Price Range from Low to High
For a driver around age 40, Tesla Model S insurance prices go from the cheapest price of $438 for your basic liability-only policy to a much higher rate of $3,788 for a driver who requires high-risk insurance.
Geographic Price Range
Your location can make a big difference on auto insurance rates. Rural areas have more infrequent collision claims than larger metro areas.
The price range example below illustrates the difference between rural and urban areas on car insurance rates.
The ranges above demonstrate why anyone shopping for car insurance should compare rates based on a specific location 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.
More Rate Information
The chart below details estimated Tesla Model S insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $965
- Drivers who choose higher $1,000 deductibles will pay around $274 annually
- The average price for the average middle-age driver with $500 deductibles is $1,740
- Choosing more expensive low deductibles for comprehensive and collision insurance costs an extra $538 annually
- Drivers with multiple violations and an at-fault accident could pay upwards of $3,788 or more
- The price to insure a 16-year-old driver with full coverage may cost $6,234 a year
Insurance prices for a Tesla Model S are also quite variable based on deductibles and policy limits, your driving record, and the trim level of your Model S.
Choosing high deductibles could save up to $820 annually, while increasing your policy's liability limits will cost you more. Moving from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $351 more per year. View Rates by Deductible or Liability Limit
An older driver with a clean driving record and higher deductibles may pay as low as $1,600 per year on average for full coverage. Prices are highest for teenage drivers, since even excellent drivers can expect to pay upwards of $6,200 a year. View Rates by Age
If you have some driving violations or you were responsible for an accident, you may be forking out at a minimum $2,100 to $2,800 extra each year, depending on your age. High-risk driver insurance can cost from 45% to 135% more than average. View High Risk Driver Rates
The state you live in makes a big difference in Tesla Model S insurance prices. A 40-year-old driver could pay as low as $1,250 a year in states like New Hampshire, Ohio, and Utah, or as much as $2,350 on average in Florida, Michigan, and New York.
| 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% |
Since prices can be so different, the best way to find out exactly what you will pay is to compare prices from multiple companies. Every company uses a different rate calculation, so the prices may be quite different.
| 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 Cheaper Tesla Model S Insurance
Getting lower rates on insurance for a Tesla Model S not only requires having a good driving record, but also having good credit, avoid buying unnecessary coverage, and bundling your home and auto policies. Set aside time to compare rates at every other renewal by quoting rates from direct companies like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.
The next list is a condensed summary of the concepts that were covered above.
- Drivers considered higher risk with multiple at-fault accidents may pay on average $2,050 more each year to buy Tesla Model S insurance
- Drivers age 20 and younger pay the highest prices, costing up to $520 a month if they have full coverage
- You may be able to save as much as $220 per year simply by shopping early and online
- Increasing physical damage deductibles could save as much as $800 each year
- You may be able to save as much as $220 per year simply by shopping early and online
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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