Tesla Model S Insurance Rates

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UPDATED: Jun 6, 2024

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The average insurance rates for a Tesla Model S are $1,848 a year with full coverage. Comprehensive insurance costs around $432, collision costs $892, and liability is estimated at $388. Buying just liability costs approximately $434 a year, with insurance for high-risk drivers costing $4,036 or more. Teenage drivers cost the most to insure at $6,602 a year or more.

Average premium for full coverage: $1,848

Policy rates for type of insurance:

Comprehensive $432
Collision $892
Liability $388

Prices include $500 physical damage deductibles, liability limits of 30/60, and includes both medical and UM/UIM coverage. Prices are averaged for all U.S. states and for all Model S models.

Price Range Variability

For a driver around age 40, Tesla Model S insurance rates go from as low as $434 for basic liability insurance to the much higher price of $4,036 for a driver that may need high-risk insurance.

Liability Only $434
Full Coverage $1,848
High Risk $4,036

Urban vs. Rural Price Range

Living in a larger city can make a big difference on insurance rates. Areas with sparse population are shown to have a lower frequency of collision claims than densely populated cities.

The example below illustrates the difference between rural and urban areas on auto insurance rates.

Rural Areas $1,386
Small Cities $1,940
Large Cities $2,495

The examples above demonstrate why everyone should get quotes for a specific zip code and risk profile, instead of making a decision based on 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.

Rate Comparisons

The chart below details estimated Tesla Model S insurance rates for additional coverage choices and driver risks.

  • The best discount rate is $1,014
  • Choosing higher $1,000 deductibles can save about $298 annually
  • The average rate for a good driver age 40 using $500 deductibles is $1,848
  • Using pricier low deductibles for comp and collision coverage will cost an extra $590 annually
  • Higher-risk drivers who are prone to accidents and violations could pay at least $4,036 or more
  • Policy cost for full coverage for a 16-year-old driver for full coverage can be $6,602 each year

View Chart as Image

Tesla Model S insurance cost comparison chart
Column chart showing full coverage Tesla Model S insurance prices range from $1,014 to $6,602

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

A more mature driver with a clean driving record and high deductibles may pay as low as $1,700 annually on average, or $142 per month, for full coverage. Rates are much higher for teenagers, where even good drivers can expect to pay as much as $6,600 a year. View Rates by Age

Your home state plays a big part in determining prices for Tesla Model S insurance prices. A good driver about age 40 could pay as low as $1,330 a year in states like New Hampshire, Ohio, and Utah, or be forced to pay as much as $2,490 on average in Florida, Michigan, and New York.

Tesla Model S Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,670 -$178 -9.6%
Alaska $1,416 -$432 -23.4%
Arizona $1,534 -$314 -17.0%
Arkansas $1,848 -$0 0.0%
California $2,106 $258 14.0%
Colorado $1,764 -$84 -4.5%
Connecticut $1,896 $48 2.6%
Delaware $2,088 $240 13.0%
Florida $2,308 $460 24.9%
Georgia $1,708 -$140 -7.6%
Hawaii $1,326 -$522 -28.2%
Idaho $1,252 -$596 -32.3%
Illinois $1,374 -$474 -25.6%
Indiana $1,392 -$456 -24.7%
Iowa $1,246 -$602 -32.6%
Kansas $1,754 -$94 -5.1%
Kentucky $2,518 $670 36.3%
Louisiana $2,736 $888 48.1%
Maine $1,140 -$708 -38.3%
Maryland $1,526 -$322 -17.4%
Massachusetts $1,474 -$374 -20.2%
Michigan $3,206 $1,358 73.5%
Minnesota $1,546 -$302 -16.3%
Mississippi $2,212 $364 19.7%
Missouri $1,640 -$208 -11.3%
Montana $1,984 $136 7.4%
Nebraska $1,456 -$392 -21.2%
Nevada $2,216 $368 19.9%
New Hampshire $1,332 -$516 -27.9%
New Jersey $2,064 $216 11.7%
New Mexico $1,634 -$214 -11.6%
New York $1,944 $96 5.2%
North Carolina $1,064 -$784 -42.4%
North Dakota $1,512 -$336 -18.2%
Ohio $1,274 -$574 -31.1%
Oklahoma $1,896 $48 2.6%
Oregon $1,692 -$156 -8.4%
Pennsylvania $1,760 -$88 -4.8%
Rhode Island $2,464 $616 33.3%
South Carolina $1,674 -$174 -9.4%
South Dakota $1,558 -$290 -15.7%
Tennessee $1,614 -$234 -12.7%
Texas $2,226 $378 20.5%
Utah $1,366 -$482 -26.1%
Vermont $1,262 -$586 -31.7%
Virginia $1,106 -$742 -40.2%
Washington $1,424 -$424 -22.9%
West Virginia $1,696 -$152 -8.2%
Wisconsin $1,278 -$570 -30.8%
Wyoming $1,644 -$204 -11.0%

View Chart as Image

Tesla Model S insurance rates by U.S. city

Using high physical damage deductibles can save as much as $890 annually, whereas buying more liability protection will increase rates. Moving from a 50/100 limit to a 250/500 limit will raise rates by up to $349 more per year. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you may be forking out at least $2,200 to $3,000 extra every year, depending on your age. Tesla Model S insurance for high-risk drivers ranges from 45% to 133% more than a normal policy. View High Risk Driver Rates

Because rates have so much variability, the best way to find out your exact price is to regularly compare rates from multiple companies. Each auto insurer uses a different method to calculate rates, so the rates will be varied from one company to the next.

Tesla Model S Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2024 Tesla Model S $554 $1,140 $332 $2,162
2023 Tesla Model S $532 $1,130 $338 $2,136
2022 Tesla Model S $514 $1,104 $354 $2,108
2021 Tesla Model S $496 $1,058 $364 $2,054
2020 Tesla Model S $470 $1,020 $376 $2,002
2019 Tesla Model S $452 $946 $384 $1,918
2018 Tesla Model S $432 $892 $388 $1,848
2017 Tesla Model S $414 $800 $390 $1,740
2016 Tesla Model S $388 $736 $390 $1,650
2014 Tesla Model S $366 $644 $402 $1,548
2013 Tesla Model S $338 $598 $402 $1,474
2012 Tesla Model S $330 $542 $406 $1,414

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

Finding cheaper rates on insurance for a Tesla Model S takes being a safe and courteous driver, maintaining good credit, not filing small claims, and insuring your home and auto with the same company. Set aside time to compare rates once a year by getting quotes from direct companies like GEICO, Progressive, and Esurance, and also from local independent and exclusive agents.

Below is a quick rundown of the data that was covered above.

  • You may be able to save up to $240 per year simply by quoting online well ahead of the renewal date
  • Insureds who may need higher levels of liability will pay an extra $430 every year to raise limits from a 30/60 limit to 250/500 limits
  • Teenage drivers pay higher rates, as much as $550 each month for full coverage
  • Drivers considered higher risk with reckless driving or DUI convictions pay an average of $2,190 more every year for auto insurance

Rates by Driver Age

Tesla Model S Insurance Rates by Driver Age
Driver Age Premium
16 $6,602
20 $4,298
30 $1,954
40 $1,848
50 $1,684
60 $1,656

Full coverage, $500 deductibles

Rates by Deductible

Tesla Model S Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,438
$250 $2,162
$500 $1,848
$1,000 $1,550

Full coverage, driver age 40

Rates by Liability Limit

Tesla Model S Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,848
50/100 $1,926
100/300 $2,023
250/500 $2,275
100 CSL $1,964
300 CSL $2,178
500 CSL $2,333

Full coverage, driver age 40

Rates for High Risk Drivers

Tesla Model S Insurance Rates for High Risk Drivers
Age Premium
16 $9,526
20 $6,856
30 $4,154
40 $4,036
50 $3,846
60 $3,814

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.

SR-22 Surcharge $270

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $103
Multi-vehicle $98
Homeowner $25
5-yr Accident Free $152
5-yr Claim Free $124
Paid in Full/EFT $96
Advance Quote $99
Online Quote $137
Total Discounts $834
Rate after discounts $1,014

Discounts are estimated and may not be available from every company or in every state.

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