Tesla Model S Insurance Rates
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Michelle Robbins
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UPDATED: Jun 6, 2024
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Estimated auto insurance rates for a Tesla Model S are $1,740 annually for full coverage insurance. Comprehensive insurance costs an estimated $414 a year, collision insurance costs $800, and liability is $390. A liability-only policy costs around $438 a year, and high-risk insurance costs $3,788 or more. Teens pay the most at up to $6,234 a year.
Average premium for full coverage: $1,740
Premium estimates broken down by type of coverage:
Rates are based on $500 deductible amounts, 30/60 bodily injury liability limits, and includes uninsured/under-insured motorist coverage. Rates include averaging for all 50 states and Model S trim levels.
Insurance Price Range by Risk and Coverage
For a driver in their 40's, insurance rates for a Tesla Model S range from as cheap as $438 for your basic liability-only policy to a high of $3,788 for a driver who requires high-risk insurance.
Insurance Price Range by Location
Choosing to live in a large city can have significant affects on the price of insurance. More rural locations are statistically proven to have fewer physical damage claims than cities with more traffic congestion. The diagram below illustrates how location helps determine insurance prices.
These rate differences illustrate why it is important to compare rates quotes for a targeted area and their own personal driving habits, 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 Information
The chart below illustrates average Tesla Model S insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $965
- Raising to $1,000 deductibles will save approximately $1,466 each year
- The estimated rate for a 40-year-old good driver who has $500 deductibles is $1,740
- Selecting low $100 deductibles costs an additional $538 every year
- At-risk drivers with serious driving violations could pay up to $3,788
- An auto insurance policy with full coverage for a teen driver can cost as much as $6,234
Auto insurance prices for a Tesla Model S also have a wide range based on the model of your Model S, your risk profile, and liability limits and deductibles.
Older drivers with a good driving record and high physical damage deductibles may pay as little as $1,600 every 12 months on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they will have to pay at least $6,200 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you are probably paying $2,100 to $2,800 in extra premium annually, depending on your age. A high-risk auto insurance policy is expensive and can cost as much as 45% to 135% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles can reduce prices by up to $820 every year, while buying higher liability limits will increase premiums. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $351 extra every year. View Rates by Deductible or Liability Limit
Where you choose to live also has a big influence on Tesla Model S insurance prices. A middle-age driver might find prices as low as $1,140 a year in states like North Carolina, Wisconsin, and Vermont, or have to pay at least $2,350 on average in Florida, 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% |
| 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 the Best Cheap Tesla Model S Insurance
Finding better rates on car insurance consists of having a good driving record, having above-average credit, paying for small claims out-of-pocket, and consideration of higher deductibles. Invest time comparing rates at every other renewal by getting quotes from direct insurance companies, and also from your local independent and exclusive agents.
The next list is a quick review of the concepts that were covered in the charts and tables above.
- Higher risk drivers with a DUI or reckless driving violation may pay on average $2,050 more annually to buy Tesla Model S insurance
- Drivers age 20 and younger are the costliest to insure, with premiums being up to $520 per month if full coverage is included
- It is possible to save approximately $220 per year just by quoting early and online
- Increasing policy deductibles could save up to $800 each year
- It is possible to save approximately $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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