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 auto insurance rates for a Tesla Model S are $1,740 annually including full coverage. Comprehensive costs on average $414, collision costs $800, and liability costs around $390. Liability-only insurance costs as low as $438 a year, with high-risk driver insurance costing around $3,788. 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:
Prices are based on $500 deductible amounts, 30/60 bodily injury liability limits, and includes medical and UM/UIM coverage. Estimates are averaged for all 50 U.S. states and for different Model S trim levels.
Price Range from Low to High
Using a 40-year-old driver as an example, Tesla Model S insurance prices go from as cheap as $438 for just liability insurance to a much higher rate of $3,788 for a driver who requires high-risk insurance.
Geographic Price Range
Where you live can make a big difference on car insurance rates. Rural areas have fewer comprehensive and collision claims than larger metro areas.
The price range example below illustrates how rural and urban location affects car insurance rates.
The ranges above highlight why anyone shopping for car insurance should compare prices based on a specific location and their own personal driving habits, 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 Details
The chart below breaks down estimated Tesla Model S insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $965
- Using higher $1,000 deductibles will save around $274 every year
- The estimated rate for the average middle-age driver with $500 deductibles is $1,740
- Choosing more expensive low deductibles for physical damage coverage will cost $2,278
- High-risk insureds with multiple violations and an at-fault accident could pay upwards of $3,788 or more
- The price with full coverage for a 16-year-old driver with full coverage may cost $6,234 or more
Car insurance prices for a Tesla Model S are also quite variable based on the trim level and model year, your driving characteristics, and policy deductibles and limits.
An older driver with no driving violations and high physical damage deductibles may pay as low as $1,600 a year for full coverage. Prices are highest for teenage drivers, where even without any violations or accidents they will be charged upwards of $6,200 a year. View Rates by Age
If you have some driving violations or you caused a few accidents, you are likely paying at a minimum $2,100 to $2,800 extra each year, depending on your age. High-risk driver insurance can be from 45% to 135% more than average. View High Risk Driver Rates
Choosing high deductibles could cut prices by as much as $820 annually, while increasing your policy's liability limits will cost you more. Changing from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $351 extra every 12 months. View Rates by Deductible or Liability Limit
The state you live in has a huge impact on Tesla Model S insurance prices. A driver around age 40 might see 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% |
Since prices can be so different, the best way to figure out exactly what you will pay is to compare prices from multiple companies. Each insurance company uses a different rate calculation, so rate quotes may be quite different between companies.
| 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 Buy Affordable Tesla Model S Insurance
Getting lower rates on insurance for a Tesla Model S requires having a good driving record, having a good credit score, being claim-free, and maximizing policy discounts. Set aside time to shop around at every other renewal by obtaining price quotes from direct car insurance companies like GEICO, Progressive, and Esurance, and also from several local insurance agents.
The next list is a brief review of the concepts that were raised in the charts and tables above.
- Drivers considered higher risk with DUI or reckless driving convictions pay on average $2,050 more each year to buy Tesla Model S insurance
- Drivers age 20 and younger are expensive to insure, possibly costing $520 a month if comprehensive and collision insurance is included
- You may be able to save as much as $220 per year simply by shopping early and online
- Increasing physical damage deductibles could save up to $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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