Tesla Model S Insurance Rates

Enter your zip code below to view companies that have cheap auto insurance rates.

Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

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...

Licensed Insurance Agent

UPDATED: Jun 6, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

Average auto insurance rates for a Tesla Model S are $1,740 annually for full coverage. Comprehensive insurance costs an estimated $414 a year, collision costs $800, and liability insurance costs around $390. Buying just liability costs as low as $438 a year, with insurance for high-risk drivers costing $3,788 or more. Teen drivers receive the highest rates at $6,234 a year or more.

Average premium for full coverage: $1,740

Rate estimates broken down by individual coverage type:

Comprehensive $414
Collision $800
Liability $390

These estimates include $500 physical damage insurance deductibles, 30/60 bodily injury liability limits, and includes medical and UM/UIM coverage. Rates are averaged for all states and Model S trim levels.

Price Range by Coverage and Risk

For a driver in their 40's, prices range go from as cheap as $438 for just liability insurance to a high of $3,788 for a driver who requires high-risk insurance.

Liability Only $438
Full Coverage $1,740
High Risk $3,788

Price Range by Location

Where you live has a significant impact on insurance rates. More rural locations tend to have fewer accident claims than larger metro areas.

The diagram below illustrates how location helps determine insurance prices.

Rural Areas $1,305
Small Cities $1,827
Large Cities $2,349

These examples show why it is important to compare prices for a targeted area and their own personal driving habits, rather than relying 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 shows estimated Tesla Model S insurance rates for other coverage scenarios.

  • The lowest rate with discounts is $965
  • Using higher $1,000 deductibles will save approximately $1,466 a year
  • The estimated rate for a 40-year-old driver who has $500 deductibles is $1,740
  • Choosing low $100 deductibles for physical damage coverage costs an additional $538 a year
  • Drivers with multiple violations and an at-fault accident could pay up to $3,788 or more
  • The cost with full coverage for a teen driver can cost as much as $6,234 or more

View Chart as Image

Tesla Model S insurance cost comparison chart
Column chart showing full coverage Tesla Model S insurance prices range from $965 to $6,234

Auto insurance rates for a Tesla Model S can also vary considerably based on the trim level of your Model S, your driver profile, and liability limits and deductibles.

Older drivers with a good driving record and high physical damage deductibles could pay as little as $1,600 a year for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they will have to pay at least $6,200 a year. View Rates by Age

If you like to drive fast or you caused a few accidents, you could be paying $2,100 to $2,800 in extra premium per year, depending on your age. A high-risk auto insurance policy can be anywhere from 45% to 135% more than average. View High Risk Driver Rates

Choosing high deductibles could cut rates by as much as $820 each year, while buying higher liability limits will increase premiums. Going from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $351 extra every year. View Rates by Deductible or Liability Limit

Where you live has a huge impact on Tesla Model S insurance rates. A driver around age 40 might see rates as low as $1,150 a year in states like Iowa, Maine, and Idaho, or as much as $2,480 on average in New York, Louisiana, and Michigan.

Tesla Model S Insurance Rates by State
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%

View Chart as Image

Tesla Model S insurance rates by U.S. city

With so much variability in rates, the only way to know which company is cheapest is to get quotes from as many companies as possible. Each insurance company uses a different rate calculation, and quoted rates can be significantly different between companies.

Tesla Model S Insurance Rates by Model Year
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 Cheap Tesla Model S Insurance

Saving money on Tesla Model S insurance requires being a low-risk driver, having above-average credit, eliminating unneeded coverage, and qualifying for all possible discounts. Invest time comparing rates at every other renewal by getting quotes from direct carriers like Progressive and GEICO, and also from local exclusive and independent agents.

The items below are a brief summary of the concepts that were covered in the charts and tables above.

  • High-risk drivers that tend to have accidents or serious violations may pay on average $2,050 more annually to insure their Model S
  • Teen drivers are the costliest to insure, costing as high as $520 per month if full coverage is included
  • Drivers can save approximately $220 per year simply by quoting early and online
  • Increasing deductibles could save up to $800 each year
  • Drivers can save approximately $220 per year simply by quoting early and online

Rates by Driver Age

Tesla Model S Insurance 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

Tesla Model S Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,278
$250 $2,028
$500 $1,740
$1,000 $1,466

Full coverage, driver age 40

Rates by Liability Limit

Tesla Model S Insurance Rates with Different Liability Limits
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

Tesla Model S Insurance 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.

SR-22 Surcharge $251

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
Rate after discounts $965

Discounts are estimated and may not be available from every company or in every state.

Compare Rates and Save

Find companies with the cheapest rates in your area

Free Auto Insurance Comparison

Enter your zip code below to view companies that have cheap auto insurance rates.

secured lock Secured with SHA-256 Encryption

By clicking, you agree to our Terms of Use

Nationwide State Farm Allstate

You May Also Enjoy These Articles