Tesla Model S Insurance Rates

Average insurance prices for a Tesla Model S are $1,740 every 12 months for full coverage. Comprehensive costs on average $414 a year, collision insurance costs $800, and liability coverage costs $390. A policy with just liability insurance costs as little as $438 a year, and coverage for high-risk drivers costs around $3,788. Teen 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:

Prices are based on $500 physical damage deductibles, bodily injury liability limits of 30/60, and includes additional medical/uninsured motorist coverage. Rates are averaged for all states and Model S trim levels.

Price Range by Coverage and Risk

Price Range by Location

Your location has a large influence on car insurance rates. Rural areas tend to have more infrequent accident claims than larger metro areas. The diagram below illustrates the effect of geographic area on car insurance rates.

These examples show why it is important to compare rates based on a specific location and their own driving history, rather than using price averages.

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

Additional Rate Analysis

The chart below shows average Tesla Model S insurance rates for different risk profiles and scenarios.

• The lowest rate with discounts is $965
• Drivers who choose higher $1,000 deductibles will pay around $1,466 a year
• The average price for a 40-year-old driver with $500 deductibles is $1,740
• Choosing low $100 deductibles for comprehensive and collision insurance increases the price to $2,278
• High-risk insureds with multiple violations and an at-fault accident could pay upwards of $3,788
• The cost to insure a teenage driver may cost $6,234 a year

View Chart as Image

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

Choosing high deductibles could save up to $820 a year, while buying higher liability limits will cost you more. 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

Older drivers with no violations or accidents and higher deductibles may only pay around $1,600 per year on average for full coverage. Rates are highest for teen drivers, since even excellent drivers should be prepared to pay upwards 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 at a minimum $2,100 to $2,800 additional per year, depending on your age. A high-risk auto insurance policy can cost around 45% to 135% more than average. View High Risk Driver Rates

Where you live makes a big difference in Tesla Model S insurance rates. A 40-year-old driver could pay as low as $1,150 a year in states like Idaho, Maine, and Iowa, or as much as $2,480 on average in Michigan, Louisiana, and New York.

View Chart as Image

How to Shop for Affordable Tesla Model S Insurance

Saving money on auto insurance not only requires being a safe and courteous driver, but also having above-average credit, eliminating unneeded coverage, and dropping full coverage on older vehicles. Take the time to compare rates every other policy renewal by getting rate quotes from direct carriers like GEICO, Progressive, and Esurance, and also from local independent and exclusive agents.

Below is a brief review of the ideas that were covered in the above illustrations.

• Teenage drivers pay higher rates, costing as high as $520 per month if full coverage is included
• Drivers with DUI or reckless driving convictions pay an average of $2,050 more each year for auto insurance
• Increasing deductibles could save as much as $800 each year
• Drivers can save as much as $220 per year just by quoting early and online