Tesla Model S Insurance Rates
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Michelle Robbins
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UPDATED: Jun 6, 2024
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Estimated insurance prices for a Tesla Model S are $1,740 every 12 months with full coverage. Comprehensive costs around $414 each year, collision costs $800, and liability insurance costs $390. Liability-only coverage costs as little as $438 a year, with high-risk coverage costing around $3,788. Teens pay the most at $6,234 a year or more.
Average premium for full coverage: $1,740
Premium estimates for type of coverage:
Rates are based on $500 deductible amounts, minimum liability limits, and includes uninsured motorist and medical coverage. Rates include averaging for all U.S. states and Model S models.
Insurance Price Range by Risk and Coverage
For a driver in their 40's, insurance rates for a Tesla Model S go from the cheapest price of $438 for the bare minimum liability coverage to a high rate of $3,788 for high-risk insurance.
Insurance Price Range by Location
Your location has a significant impact on insurance rates. Areas with sparse population are statistically proven to have more infrequent collision claims than cities with more traffic congestion.
The graphic below illustrates how location helps determine auto insurance rates.
These rate differences demonstrate why all drivers should compare rates for a specific zip code and their own driving history, rather than relying on averaged prices.
Use the form below to get customized rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Additional Rate Information
The chart below details estimated Tesla Model S insurance rates for additional coverage choices and driver risks.
- The cheapest rate after discounts is $965
- Drivers who choose higher $1,000 deductibles will pay about $274 annually
- The average price for a 40-year-old good driver using $500 deductibles is $1,740
- Selecting low deductibles for comprehensive and collision insurance increases the price to $2,278
- High risk drivers with serious driving violations could pay at least $3,788 or more
- An auto insurance policy to insure a teen driver can be $6,234 a year
Insurance prices for a Tesla Model S also have a wide range based on physical damage deductibles and liability limits, your driving record, and the trim level and model year.
Choosing higher comprehensive and collision insurance deductibles could save up to $820 each year, whereas increasing liability limits will increase prices. Moving from a 50/100 liability limit to a 250/500 limit will cost up to $351 more per year. View Rates by Deductible or Liability Limit
More mature drivers with a clean driving record and higher deductibles could pay as little as $1,600 per year on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers can expect to pay as much as $6,200 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you may be forking out at least $2,100 to $2,800 extra annually, depending on your age. Insurance for high-risk drivers can cost anywhere from 45% to 135% more than the average policy. View High Risk Driver Rates
Where you choose to live makes a big difference in Tesla Model S insurance rates. A 40-year-old driver could pay as low as $1,250 a year in states like New Hampshire, Ohio, and Utah, or have to pay at least $2,350 on average in Florida, Michigan, and New York.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,572 | -$168 | -9.7% |
| Alaska | $1,336 | -$404 | -23.2% |
| Arizona | $1,444 | -$296 | -17.0% |
| Arkansas | $1,740 | -$0 | 0.0% |
| California | $1,984 | $244 | 14.0% |
| Colorado | $1,662 | -$78 | -4.5% |
| Connecticut | $1,788 | $48 | 2.8% |
| Delaware | $1,968 | $228 | 13.1% |
| Florida | $2,174 | $434 | 24.9% |
| Georgia | $1,610 | -$130 | -7.5% |
| Hawaii | $1,250 | -$490 | -28.2% |
| Idaho | $1,180 | -$560 | -32.2% |
| Illinois | $1,298 | -$442 | -25.4% |
| Indiana | $1,312 | -$428 | -24.6% |
| Iowa | $1,174 | -$566 | -32.5% |
| Kansas | $1,654 | -$86 | -4.9% |
| Kentucky | $2,376 | $636 | 36.6% |
| Louisiana | $2,576 | $836 | 48.0% |
| Maine | $1,076 | -$664 | -38.2% |
| Maryland | $1,436 | -$304 | -17.5% |
| Massachusetts | $1,390 | -$350 | -20.1% |
| Michigan | $3,022 | $1,282 | 73.7% |
| Minnesota | $1,460 | -$280 | -16.1% |
| Mississippi | $2,084 | $344 | 19.8% |
| Missouri | $1,546 | -$194 | -11.1% |
| Montana | $1,870 | $130 | 7.5% |
| Nebraska | $1,370 | -$370 | -21.3% |
| Nevada | $2,088 | $348 | 20.0% |
| New Hampshire | $1,256 | -$484 | -27.8% |
| New Jersey | $1,946 | $206 | 11.8% |
| New Mexico | $1,540 | -$200 | -11.5% |
| New York | $1,832 | $92 | 5.3% |
| North Carolina | $1,002 | -$738 | -42.4% |
| North Dakota | $1,426 | -$314 | -18.0% |
| Ohio | $1,200 | -$540 | -31.0% |
| Oklahoma | $1,786 | $46 | 2.6% |
| Oregon | $1,594 | -$146 | -8.4% |
| Pennsylvania | $1,658 | -$82 | -4.7% |
| Rhode Island | $2,322 | $582 | 33.4% |
| South Carolina | $1,578 | -$162 | -9.3% |
| South Dakota | $1,468 | -$272 | -15.6% |
| Tennessee | $1,524 | -$216 | -12.4% |
| Texas | $2,098 | $358 | 20.6% |
| Utah | $1,290 | -$450 | -25.9% |
| Vermont | $1,190 | -$550 | -31.6% |
| Virginia | $1,042 | -$698 | -40.1% |
| Washington | $1,344 | -$396 | -22.8% |
| West Virginia | $1,596 | -$144 | -8.3% |
| Wisconsin | $1,204 | -$536 | -30.8% |
| Wyoming | $1,550 | -$190 | -10.9% |
With such a large range in prices, the best way to find out your exact price is to do a rate comparison from as many companies as possible. Every company calculates prices differently, so the prices will be substantially different.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Tesla Model S | $532 | $1,130 | $338 | $2,136 |
| 2023 Tesla Model S | $514 | $1,104 | $354 | $2,108 |
| 2022 Tesla Model S | $496 | $1,058 | $364 | $2,054 |
| 2021 Tesla Model S | $470 | $1,020 | $376 | $2,002 |
| 2020 Tesla Model S | $452 | $946 | $384 | $1,918 |
| 2019 Tesla Model S | $432 | $892 | $388 | $1,848 |
| 2018 Tesla Model S | $414 | $800 | $390 | $1,740 |
| 2017 Tesla Model S | $388 | $736 | $390 | $1,650 |
| 2016 Tesla Model S | $374 | $690 | $394 | $1,594 |
| 2014 Tesla Model S | $338 | $598 | $402 | $1,474 |
| 2013 Tesla Model S | $330 | $542 | $406 | $1,414 |
| 2012 Tesla Model S | $306 | $496 | $402 | $1,340 |
Rates are averaged for all Tesla Model S models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Shop for the Best Cheap Tesla Model S Insurance
Finding better rates on Tesla Model S insurance not only requires having a good driving record, but also having good credit, being claim-free, and insuring your home and auto with the same company. Invest time comparing rates every couple of years by quoting rates from direct companies, and also from several local insurance agents.
The next list is a quick review of the material that was covered in the charts and tables above.
- Drivers who may need increased levels of liability coverage will pay approximately $430 every year to go from 30/60 bodily injury limits to a 250/500 level
- Drivers age 20 and younger pay higher prices, possibly costing $520 per month if they have full coverage
- High-risk drivers with a DUI or reckless driving violation pay on average $2,050 more every year to buy Tesla Model S insurance
- Increasing policy deductibles could save as much as $800 each year
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,234 |
| 20 | $4,028 |
| 30 | $1,838 |
| 40 | $1,740 |
| 50 | $1,588 |
| 60 | $1,560 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,278 |
| $250 | $2,028 |
| $500 | $1,740 |
| $1,000 | $1,466 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,740 |
| 50/100 | $1,818 |
| 100/300 | $1,916 |
| 250/500 | $2,169 |
| 100 CSL | $1,857 |
| 300 CSL | $2,072 |
| 500 CSL | $2,228 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,982 |
| 20 | $6,420 |
| 30 | $3,898 |
| 40 | $3,788 |
| 50 | $3,610 |
| 60 | $3,578 |
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
| Discount | Savings |
|---|---|
| Multi-policy | $96 |
| Multi-vehicle | $91 |
| Homeowner | $24 |
| 5-yr Accident Free | $140 |
| 5-yr Claim Free | $116 |
| Paid in Full/EFT | $88 |
| Advance Quote | $92 |
| Online Quote | $128 |
| Total Discounts | $775 |
Discounts are estimated and may not be available from every company or in every state.
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