Tesla Model S Insurance Rates
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Michelle Robbins
Licensed Insurance Agent
Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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UPDATED: Jun 6, 2024
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Estimated insurance prices for a Tesla Model S are $1,740 every 12 months including full coverage. Comprehensive costs on average $414 a year, collision insurance costs $800, and liability costs $390. A policy with only liability insurance costs as little as $438 a year, and a high-risk policy costs around $3,788. 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:
Prices are based on $500 physical damage insurance deductibles, bodily injury liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Rates include averaging for all 50 U.S. states and Model S trim levels.
Insurance Price Range by Risk and Coverage
For a 40-year-old driver, insurance rates for a Tesla Model S range from the cheapest price of $438 for liability-only coverage to a high of $3,788 for a driver who has had serious violations or accidents.
Insurance Price Range by Location
Your location can make a big difference on car insurance rates. Rural areas are statistically proven to have more infrequent comprehensive and collision claims than congested cities. The diagram below illustrates how your location can change car insurance rates.
These rate differences highlight why it is important to compare rates based on a specific location and their own driving history, instead of making a decision based on rate 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.
Additional Charts and Tables
The chart below breaks down average Tesla Model S insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $965
- Drivers who choose higher $1,000 deductibles will pay around $1,466 every year
- The average price for a 40-year-old good driver with $500 deductibles is $1,740
- Buying low $100 deductibles for comprehensive and collision insurance increases the price to $2,278
- Drivers with multiple tickets or accidents could pay upwards of $3,788
- An auto insurance policy to insure a 16-year-old driver may cost $6,234 a year
Car insurance prices for a Tesla Model S also have a wide range based on physical damage deductibles and liability limits, your driving characteristics, and the trim level of your Model S.
Opting for high physical damage deductibles could save up to $820 annually, while buying higher liability limits will cost you more. Changing from a 50/100 liability limit to a 250/500 limit will cost up to $351 extra every 12 months. View Rates by Deductible or Liability Limit
Older drivers with no driving violations and higher deductibles may pay as low as $1,600 per year on average, or $133 per month, for full coverage. Prices are highest for drivers in their teens, since even excellent drivers will be charged upwards of $6,200 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you are likely paying at a minimum $2,100 to $2,800 extra annually, depending on your age. A high-risk auto insurance policy can cost from 45% to 135% more than the average rate. View High Risk Driver Rates
Where you choose to live makes a big difference in Tesla Model S insurance prices. A 40-year-old driver could pay as low as $1,340 a year in states like Missouri, New Hampshire, and Vermont, or at least $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% |
| 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 Affordable Tesla Model S Insurance
Finding better rates on insurance for a Tesla Model S not only requires being a low-risk driver, but also maintaining a good credit score, refrain from filing small claims, and possibly raising deductibles. Invest the time to shop around every other policy renewal by requesting rates from direct car insurance companies, and also from your local independent and exclusive agents.
The items below are a brief review of the ideas that were illustrated above.
- Teen drivers are expensive to insure, with the cost nearing $520 per month if the policy includes full coverage
- Drivers considered higher risk with DUI or reckless driving convictions may pay on average $2,050 more each year to insure their Model S
- Increasing policy deductibles could save as much as $800 each year
- You may be able to save as much as $220 per year just by quoting 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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