Tesla Model S Insurance Rates

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

Average premium for full coverage: $1,740

Rate estimates by individual coverage type:

Full coverage includes $500 policy deductibles, 30/60 split liability limits, and includes additional medical/uninsured motorist coverage. Rates are averaged for all 50 states and for different Model S trim levels.

Price Range by Coverage and Risk

Price Range by Location

Living in a larger city has a significant impact on the price of auto insurance. Rural locations tend to have fewer physical damage claims than densely populated cities.

The price range example below illustrates the difference between rural and urban areas on auto insurance prices.

These examples illustrate why anyone shopping for car insurance should get quotes using their specific location and their own personal driving habits, rather than relying on average rates.

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

Additional Rate Analysis

The chart below illustrates estimated Tesla Model S insurance rates for additional coverage and risk scenarios.

• The best discount rate is $965
• Choosing higher $1,000 deductibles can save $274 each year
• The estimated rate for a 40-year-old driver who chooses $500 deductibles is $1,740
• Using more expensive low deductibles for comp and collision coverage will cost $2,278
• High-risk insureds who are prone to accidents and violations could pay around $3,788 or more
• The cost with full coverage for a teen driver with full coverage can cost $6,234 each year

View Chart as Image

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

An older driver with no violations or accidents and high physical damage deductibles could pay as little as $1,600 annually on average for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they should be prepared to pay in the ballpark of $6,200 a year. View Rates by Age

If you like to drive fast or you caused a few accidents, you are probably paying anywhere from $2,100 to $2,800 additional per year, depending on your age. High-risk driver insurance ranges anywhere from 45% to 135% more than a normal policy. View High Risk Driver Rates

Using high physical damage deductibles can save as much as $820 each year, while increasing your policy's liability limits will push rates upward. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $351 more each year. View Rates by Deductible or Liability Limit

Where you live plays a big part in determining prices for Tesla Model S insurance rates. 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.

View Chart as Image

With so much variability in rates, the only way to figure out who has the best car insurance rates is to compare rates from as many companies as possible. Each auto insurer uses a different method to calculate rates, and rates can be significantly different between companies.

How to Buy More Affordable Tesla Model S Insurance

Saving money on Tesla Model S insurance takes being safe and accident-free, having good credit, avoid buying unnecessary coverage, and qualifying for all possible discounts. Set aside time to compare rates at least every other year by requesting quotes from direct insurance companies like Progressive and GEICO, and also from insurance agencies where you live.

Below you'll find a summary of the car insurance concepts covered above.

• High-risk drivers who have multiple accidents or major violations could be forced to pay on average $2,050 more per year than a low-risk driver
• It is possible to save around $220 per year simply by shopping early and online
• Increasing deductibles could save up to $800 each year
• Drivers who purchase more liability protection will pay an extra $430 annually to raise limits from a minimum limit to higher 250/500 limits