Tesla Model S Insurance Rates

The average insurance rates for a Tesla Model S are $1,740 a year for full coverage insurance. Comprehensive costs on average $414 a year, collision insurance costs $800, and liability is $390. Liability-only coverage costs around $438 a year, and high-risk coverage costs around $3,788. Teen drivers cost the most to insure at up to $6,234 a year.

Average premium for full coverage: $1,740

Policy rates by type of insurance:

Full coverage includes $500 deductibles, 30/60 bodily injury liability limits, and includes both medical and UM/UIM coverage. Prices are averaged for all 50 states and Model S trim levels.

Price Range Variability

Urban vs. Rural Price Range

Choosing to live in a large city can have significant affects on insurance rates. Rural areas are shown to have a lower frequency of physical damage claims than larger metro areas. The diagram below illustrates how your location can change car insurance rates.

The examples above illustrate why it is important to compare rates quotes based on a specific location and risk profile, instead of using price averages.

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

Rate Comparisons

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

• The lowest rate with discounts is $965
• Raising to $1,000 deductibles will save around $1,466 each year
• The average rate for a good driver age 40 with $500 deductibles is $1,740
• Choosing low $100 deductibles will increase the cost to $2,278
• At-risk drivers with multiple violations and an at-fault accident could pay upwards of $3,788
• Policy cost for full coverage for a teen driver may cost $6,234

View Chart as Image

Insurance rates for a Tesla Model S also range considerably based on your risk profile, the model year and trim level, and policy deductibles and limits.

Older drivers with no violations or accidents and high deductibles may pay as little as $1,600 every 12 months on average, or $133 per month, for full coverage. Rates are highest for teenagers, where even good drivers should be prepared to pay upwards of $6,200 a year. View Rates by Age

Your home state also has a big influence on Tesla Model S insurance prices. A middle-age driver might find rates as low as $1,140 a year in states like Vermont, Wisconsin, and North Carolina, or as much as $2,350 on average in Michigan, New York, and Florida.

View Chart as Image

Choosing high deductibles can reduce rates by up to $820 every year, while buying higher liability limits will cost you more. Switching from a 50/100 limit to a 250/500 limit will raise rates by up to $351 more each year. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you are probably paying at a minimum $2,100 to $2,800 additional every year, depending on your age. A high-risk auto insurance policy is expensive and can cost as much as 45% to 135% more than average. View High Risk Driver Rates

How to Find More Affordable Tesla Model S Insurance

Finding cheaper rates on car insurance consists of not taking risks behind the wheel, having a good credit history, being claim-free, and dropping full coverage on older vehicles. Invest the time to shop around at every other renewal by getting rate quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from local independent and exclusive agents.

The following is a summary of the concepts that were illustrated above.

• Higher risk drivers who have multiple accidents or major violations pay an average of $2,050 more each year for Model S insurance
• Teens pay higher rates, possibly costing $520 each month including comprehensive and collision insurance
• It is possible to save as much as $220 per year just by quoting early and online
• Increasing comprehensive and collision deductibles can save around $800 each year
• It is possible to save as much as $220 per year just by quoting early and online