Tesla Model S Insurance Rates

Average insurance prices for a Tesla Model S are $1,740 every 12 months for full coverage. Comprehensive insurance costs approximately $414, collision insurance costs $800, and liability insurance is estimated at $390. A policy with just liability insurance costs approximately $438 a year, and coverage for high-risk drivers costs $3,788 or more. Teenage drivers receive the highest rates at up to $6,234 a year.

Average premium for full coverage: $1,740

Rate estimates by individual coverage type:

Full coverage includes $500 policy deductibles, split liability limits of 30/60, and includes uninsured/under-insured motorist coverage. Rates are averaged for all states and for different Model S trim levels.

Price Range by Coverage and Risk

Price Range by Location

Living in a larger city has a significant impact on car insurance rates. Rural locations tend to have more infrequent accident claims than densely populated cities. The price range example below illustrates how your location can change auto insurance prices.

These examples show why anyone shopping for car insurance should get quotes using their specific location and their own driving history, rather than relying on average rates.

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

More Rate Information

The chart below shows average Tesla Model S insurance rates for additional coverage and risk scenarios.

• The best discount rate is $965
• Choosing higher $1,000 deductibles can save $274 a year
• The average price for a 40-year-old driver who chooses $500 deductibles is $1,740
• Using more expensive low deductibles for comp and collision coverage costs an extra $538 a year
• High-risk insureds who are prone to accidents and violations could pay around $3,788
• The cost to insure a teen driver with full coverage can cost $6,234 each year

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Insurance rates for a Tesla Model S can also vary considerably based on policy deductibles and limits, your driver profile, and the model of your Model S.

Using high physical damage deductibles can save as much as $820 each year, while increasing your policy's liability limits will push rates upward. Going from a 50/100 liability limit to a 250/500 limit will cost as much as $351 more each year. View Rates by Deductible or Liability Limit

An older driver with no violations or accidents and higher deductibles could pay as little as $1,600 annually on average for full coverage. Rates are much higher for teen drivers, since even excellent drivers should be prepared to pay in the ballpark of $6,200 a year. View Rates by Age

If you like to drive fast or you were responsible for an accident, you could be paying anywhere from $2,100 to $2,800 additional per year, depending on your age. High-risk driver insurance ranges anywhere from 45% to 135% more than a normal policy. View High Risk Driver Rates

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

View Chart as Image

How to Shop for More Affordable Tesla Model S Insurance

Saving money on Tesla Model S insurance takes being a good driver, having above-average credit, eliminating unneeded coverage, and consideration of higher deductibles. Invest the time to shop around at least once a year by requesting quotes from direct carriers like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.

The following list is a summary of the primary concepts that were illustrated above.

• Drivers can save around $220 per year just by shopping early and online
• High-risk drivers who have multiple accidents or major violations may pay on average $2,050 more per year than a safer driver
• Increasing deductibles could save as much as $800 each year
• Drivers age 16 to 20 are the costliest to insure, costing as high as $520 per month if full coverage is included