Tesla Model S Insurance Rates

The average insurance rates for a Tesla Model S are $1,740 a year for full coverage insurance. Comprehensive insurance costs on average $414 each year, collision insurance costs $800, and liability insurance is estimated at $390. A liability-only policy costs approximately $438 a year, and high-risk insurance costs $3,788 or more. Teenage 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 policy deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all 50 states and Model S models.

Price Range Variability

Urban vs. Rural Price Range

Living in a larger city has a significant impact on insurance rates. Rural areas are shown to have lower incidents of physical damage claims than densely populated cities. The graphic below illustrates how your location can change car insurance rates.

The examples above illustrate why all drivers should get quotes based on a specific location, rather than relying on average rates.

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

Additional Charts and Tables

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

• The best discount rate is $965
• Choosing higher $1,000 deductibles can save around $274 each year
• The estimated price for a good driver age 40 with $500 deductibles is $1,740
• Using low deductibles for comp and collision coverage will cost an additional $538 a year
• High-risk insureds who are prone to accidents and violations could pay upwards of $3,788
• Policy cost that insures a teen driver may cost $6,234 each year

View Chart as Image

Car insurance rates for a Tesla Model S also range considerably based on the trim level and model year, your age and driving record, and policy deductibles and limits.

If you have a few points on your driving record or you caused an accident, you are probably paying at a minimum $2,100 to $2,800 extra every year, depending on your age. Insurance for high-risk drivers ranges anywhere from 45% to 135% more than a normal policy. View High Risk Driver Rates

More mature drivers with no driving violations and higher comprehensive and collision deductibles could pay as little as $1,600 annually on average, or $133 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records will be charged upwards of $6,200 a year. View Rates by Age

Your home state 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 Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,350 on average in Michigan, New York, and Florida.

View Chart as Image

Using high physical damage deductibles can save as much as $820 each year, whereas increasing liability limits will cost you more. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $351 extra every 12 months. View Rates by Deductible or Liability Limit

How to Find More Affordable Tesla Model S Insurance

Finding cheaper rates on Tesla Model S insurance takes being a good driver, having a positive credit history, being claim-free, and possibly raising deductibles. Compare prices at least once a year by getting quotes from direct insurance companies, and also from your local independent and exclusive agents.

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

• It is possible to save as much as $220 per year just by quoting online in advance
• High-risk drivers who have multiple accidents or major violations may pay on average $2,050 more each year than a safer driver
• Increasing comprehensive and collision deductibles can save approximately $800 each year
• Drivers age 16 to 20 are expensive to insure, possibly costing $520 each month if full coverage is purchased