2016 Tesla Model X Insurance Rates
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UPDATED: Mar 2, 2020
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Average insurance rates for a 2016 Tesla Model X are $2,002 a year with full coverage. Comprehensive costs an estimated $436 each year, collision costs $966, and liability coverage costs around $442. Buying a liability-only policy costs as low as $496 a year, with high-risk insurance costing around $4,396. Teenage drivers receive the highest rates at $7,274 a year or more.
Annual premium for full coverage: $2,002
Rate estimates for 2016 Tesla Model X Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2016 Tesla Model X models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.
Price Range by Coverage and Risk
For a middle-aged driver, prices range go from as low as $496 for only liability insurance to a high rate of $4,396 for a high risk driver.
These differences demonstrate why all drivers should compare prices for a targeted area and risk profile, rather than using average rates.
Use the form below to get rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Recommended Companies for Cheap 2016 Tesla Model X Insurance
Have you had enough of scraping the payment together to pay your car insurance bill each month? Your situation is no different than many other drivers. Numerous auto insurance companies battle for your hard-earned dollar, and because of this it can be hard to compare insurers to discover the definitive best rate
Lower rates by qualifying for these ten discounts
Car insurance is not cheap, but there could be available discounts to reduce the price significantly. Some discounts apply automatically at the time you complete a quote, but a few must be asked for in order for you to get them. If you aren’t receiving every discount you deserve, you’re paying more than you need to.
- Pay Now and Pay Less – By paying your policy upfront instead of making monthly payments you could save 5% or more.
- No Accidents – Drivers with accident-free driving histories pay much less as compared to bad drivers.
- Senior Discount – If you qualify as a senior citizen, you can possibly qualify for better insurance rates for Model X coverage.
- College Student – Children who live away from home and do not have access to a covered vehicle may be able to be covered for less.
- Seat Belt Usage – Buckling up and requiring all passengers to wear their seat belts could cut 10% or more off your medical payments premium.
- Federal Employees – Being employed by or retired from a federal job can save as much as 8% for Model X coverage depending on your company.
- Organization Discounts – Affiliation with certain professional organizations is a good way to get lower rates on insurance for Model X coverage.
- Paperwork-free – A handful of insurance companies give back up to $50 for buying a policy and signing up online.
- Good Student – This discount can get you a discount of up to 25%. The discount lasts well after school through age 25.
- Low Mileage Discounts – Keeping the miles down on your Tesla can qualify you for a substantially lower rate.
A little note about advertised discounts, most discount credits are not given to your bottom line cost. The majority will only reduce the cost of specific coverages such as liability and collision coverage. So despite the fact that it appears it’s possible to get free car insurance, it doesn’t quite work that way. But any discount will reduce the cost of coverage.
To see a list of providers offering insurance discounts, click this link.
Where Can I Get Cheap Auto Insurance?
There are a lot of ways to compare auto insurance prices and some are less time-consuming than others. You can spend your afternoon talking to agents in your area, or you can stay home and use the web to get pricing more quickly.
Most car insurance companies are enrolled in a marketplace where prospective buyers complete one form, and every company then gives them pricing based on the submitted data. This system prevents you from having to do quote requests for each company. To fill out one form to compare multiple rates now click here (opens in new window).
The only downside to pricing coverage this way is that consumers can’t choose which carriers you will receive quotes from. So if you want to choose specific insurance companies for rate comparison, we put together a list of low cost auto insurance companies in your area. Click to view list.
It’s up to you which method you use, but be sure to compare exactly the same deductibles and coverage limits on every quote you get. If you enter different liability limits it’s not possible to find the best deal for your Tesla Model X.
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Car insurance is unique, just like you
When choosing proper insurance coverage for your personal vehicles, there really is no “perfect” insurance plan. Every situation is different so your insurance should reflect that For example, these questions may help highlight if your situation may require specific advice.
- How can I find cheaper teen driver insurance?
- What is no-fault insurance?
- Why am I required to buy high-risk coverage?
- Is motorclub coverage worth it?
- Are rental cars covered under my policy?
- How much liability do I need to cover my assets?
If you can’t answer these questions but a few of them apply, then you may want to think about talking to an insurance agent. To find an agent in your area, take a second and complete this form or go to this page to view a list of companies. It only takes a few minutes and can provide invaluable advice.
Don’t believe everything you hear
Consumers get pounded daily by advertisements for cheaper car insurance by companies like 21st Century, Allstate and State Farm. They all have a common claim of big savings after switching to them.
How does each company claim to save you money? It’s all in the numbers.
Different companies have a certain “appetite” for the driver that makes them money. For instance, a preferred risk might be a mature driver, has no tickets, and chooses high deductibles. Any new insured who meets those qualifications will get the preferred rates and therefore will save a lot of money.
Drivers who fall outside this ideal profile will have to pay more money and this can result in business going elsewhere. The ads say “customers who switch” but not “drivers who get quotes” save money. That’s the way companies can truthfully advertise the way they do.
Because of the profiling, drivers should compare many company’s rates. It’s just too difficult to predict which company will have the lowest Tesla Model X insurance rates.
Car insurance coverages for a Tesla Model X
Understanding the coverages of a car insurance policy aids in choosing the right coverages and the correct deductibles and limits. Car insurance terms can be confusing and nobody wants to actually read their policy. Below you’ll find the normal coverages available from car insurance companies.
Auto collision coverage
This coverage covers damage to your Model X resulting from a collision with an object or car. You first must pay a deductible and then insurance will cover the remainder.
Collision insurance covers claims like sustaining damage from a pot hole, rolling your car, colliding with a tree, backing into a parked car and driving through your garage door. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. You can also choose a higher deductible to save money on collision insurance.
Coverage for medical expenses
Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses like prosthetic devices, rehabilitation expenses and hospital visits. They can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. They cover you and your occupants in addition to being hit by a car walking across the street. PIP is not an option in every state and may carry a deductible
Coverage for uninsured or underinsured drivers
This protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. It can pay for injuries to you and your family as well as damage to your Tesla Model X.
Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Frequently the UM/UIM limits are set the same as your liablity limits.
Comprehensive car insurance
Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against claims like vandalism, a tree branch falling on your vehicle and damage from a tornado or hurricane. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.
Liability car insurance
This coverage will cover damages or injuries you inflict on people or other property that is your fault. It protects you against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 100/300/100 which stand for a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged property. Alternatively, you may have one number which is a combined single limit which limits claims to one amount with no separate limits for injury or property damage.
Liability coverage protects against things such as bail bonds, funeral expenses, emergency aid, loss of income and medical expenses. The amount of liability coverage you purchase is up to you, but you should buy higher limits if possible.
Shop Smart and Save
The cheapest 2016 Tesla Model X insurance can be purchased online in addition to many insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money. Some companies do not provide you the ability to get quotes online and usually these small, regional companies provide coverage only through local independent agents.
As you shop your coverage around, it’s a bad idea to reduce coverage to reduce premium. In too many instances, someone dropped full coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. The aim is to find the BEST coverage at an affordable rate, not the least amount of coverage.
Other learning opportunities
- Liability Insurance Coverage (Nationwide)
- Booster Seat Ratings (iihs.org)
- Teen Driving and Texting (State Farm)
- Understanding Car Crashes Video (iihs.org)
- What is a Telematics Device? (Allstate)
- Avoiding Deer Collisions (Insurance Information Insitute)
Rates by U.S. City
|New York City, NY||$3,165|
|Los Angeles, CA||$3,423|
Rates by Driver Age
Full coverage, $500 deductibles
Rates by Deductible
Full coverage, driver age 40
Rates by Liability Limit
Full coverage, driver age 40
Rates for High Risk Drivers
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.
|5-yr Accident Free||$165|
|5-yr Claim Free||$134|
|Paid in Full/EFT||$104|
Discounts are estimated and may not be available from every company or in every state.