Tesla Model S Insurance Rates
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Michelle Robbins
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Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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UPDATED: Jun 6, 2024
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Average insurance rates for a Tesla Model S are $1,740 a year for full coverage. Comprehensive insurance costs on average $414, collision costs $800, and liability coverage is estimated at $390. A liability-only policy costs approximately $438 a year, with high-risk insurance costing $3,788 or more. 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:
Prices include $500 deductible amounts, 30/60 liability limits, and includes both medical and uninsured motorist insurance. Rates are averaged for all states and for all Model S models.
Price Range by Coverage and Risk
For the average driver, prices range go from as low as $438 for minimum levels of liability insurance to the much higher price of $3,788 for a driver required to buy high-risk insurance.
Price Range by Location
Living in a larger city has a large influence on car insurance rates. Rural areas tend to have a lower frequency of accident claims than densely populated cities.
The example below illustrates how location impacts car insurance rates.
These examples show why everyone should get quotes based on a specific location and risk profile, rather than using average rates.
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 Details
The chart below shows estimated 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 a year
- The average rate for a 40-year-old driver with $500 deductibles is $1,740
- Using pricier low deductibles for comp and collision coverage will cost an extra $538 each year
- Drivers who are prone to accidents and violations could pay upwards of $3,788 or more
- The cost for full coverage for a teenage driver for full coverage may cost $6,234 each year
Insurance rates for a Tesla Model S can also vary considerably based on your driver profile, the trim level of your Model S, and policy deductibles and limits.
A more mature driver with a clean driving record and high deductibles may only pay around $1,600 annually on average for full coverage. Rates are much higher for teen drivers, where even good drivers can expect to pay upwards of $6,200 a year. View Rates by Age
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 $1,150 a year in states like Idaho, Maine, and Iowa, or be forced to pay as much as $2,480 on average in Michigan, Louisiana, 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% |
Using high physical damage deductibles can save as much as $820 a year, whereas buying more liability protection will cost you more. Going from a 50/100 limit to a 250/500 limit will cost as much as $351 more per year. View Rates by Deductible or Liability Limit
If you like to drive fast or tend to cause accidents, you could be paying at a minimum $2,100 to $2,800 extra per year, depending on your age. Tesla Model S insurance for high-risk drivers ranges around 45% to 135% more than a normal policy. View High Risk Driver Rates
With so much variability in rates, the only way to know exactly what you will pay is to regularly compare rates and see how they stack up. Each auto insurer uses a different method to calculate rates, so the rates can be significantly different from one company to the next.
| 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 Find the Right Tesla Model S Insurance
Saving money on auto insurance takes having a good driving record, maintaining good credit, eliminating unneeded coverage, and bundling your home and auto policies. Spend time shopping around at every policy renewal by requesting rates from direct carriers like GEICO and Progressive, and also from your local insurance agents.
The next list is a quick rundown of the data touched on above.
- Consumers who require increased levels of liability coverage will pay an extra $430 each year to raise limits from a minimum limit to 250/500 limits
- Drivers can save as much as $220 per year simply by quoting online well ahead of the renewal date
- Increasing deductibles can save around $800 each year
- Drivers age 20 and younger pay the highest rates, costing as high as $520 per month for full coverage
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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