Tesla Model S Insurance Rates

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

Average premium for full coverage: $1,740

Price estimates broken down by individual coverage:

Full coverage includes $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all 50 states and Model S trim levels.

Price Range from Low to High

Geographic Price Range

Living in a larger city can make a big difference on the price of insurance. More rural locations have more infrequent physical damage claims than densely populated cities.

The diagram below illustrates the difference between rural and urban areas on insurance prices.

The ranges above illustrate why it is important to get quotes for a targeted area and their own driving history, instead of making a decision based on average rates.

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

More Rate Information

The chart below illustrates estimated Tesla Model S insurance rates for other coverage scenarios.

• The best discount rate is $965
• Choosing higher $1,000 deductibles can save approximately $1,466 each year
• The average price for the average middle-age driver who has $500 deductibles is $1,740
• Using low $100 deductibles for comp and collision coverage costs an extra $538 annually
• Higher-risk drivers who are prone to accidents and violations could pay up to $3,788 or more
• The price to insure a 16-year-old driver can cost as much as $6,234 each year

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Insurance prices for a Tesla Model S are also quite variable based on deductibles and policy limits, your risk profile, and the model year and trim level.

Using high physical damage deductibles can save as much as $820 annually, while buying higher liability limits will increase premiums. Switching from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $351 more per year. View Rates by Deductible or Liability Limit

Older drivers with a clean driving record and higher deductibles may pay as low as $1,600 annually on average for full coverage. Prices are much higher for teenage drivers, since even excellent drivers can expect to pay at least $6,200 a year. View Rates by Age

If you have some driving violations or you were responsible for an accident, you are probably paying $2,100 to $2,800 extra each year, depending on your age. A high-risk auto insurance policy ranges from 45% to 135% more than a normal policy. View High Risk Driver Rates

The state you live in plays a big part in determining prices for Tesla Model S insurance prices. A good driver about age 40 could pay as low as $1,140 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,350 on average in Florida, New York, and Michigan.

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Since prices can be so different, the only way to figure out which car insurance is cheapest is to get quotes from multiple companies. Each auto insurer uses a different method to calculate prices, so the prices may be quite different.

How to Shop for More Affordable Tesla Model S Insurance

Getting lower rates on insurance for a Tesla Model S takes avoiding accidents and violations, having good credit, not filing small claims, and taking advantage of discounts. Set aside time to compare rates every time your policy renews by quoting rates from direct insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.

The list below is a summary of the information covered above.

• It is possible to save approximately $220 per year simply by quoting early and online
• Teenagers are charged the highest prices, as much as $520 a month if they have full coverage
• Increasing physical damage deductibles could save as much as $800 each year
• Drivers considered higher risk who have multiple accidents or major violations could be forced to pay on average $2,050 more annually for car insurance
• Insureds who want higher liability limits will pay an extra $430 annually to raise limits from a low limit to a 250/500 level