2018 Tesla Model X Insurance Rates
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UPDATED: Apr 9, 2020
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Average insurance rates for a 2018 Tesla Model X are $2,098 a year including full coverage. Comprehensive insurance costs an estimated $478 each year, collision insurance costs $1,046, and liability coverage costs $416. Buying a liability-only policy costs as little as $474 a year, and high-risk insurance costs $4,594 or more. Teen drivers receive the highest rates at up to $7,520 a year.
Annual premium for full coverage: $2,098
Rate estimates for 2018 Tesla Model X Insurance
Rate data is compiled from all 50 U.S. states and averaged for all 2018 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 range from as low as $474 for just liability insurance to a high rate of $4,594 for a high risk driver.
These differences highlight why all drivers should compare rates for a targeted area and risk profile, rather than using price averages.
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 2018 Tesla Model X Insurance
Having to pay for expensive insurance coverage can take a big chunk out of your savings and maybe even restrict other spending. Performing a rate comparison can help to reduce premiums and put more money in your pocket.
Companies like State Farm, Farmers Insurance, GEICO and Allstate all claim big savings, bombarding you with ads and it is difficult to ignore the promise of big savings and do the work needed to find the best deal.
If you are paying for car insurance now, you will most likely be able to cut costs considerably using this information. Finding affordable coverage is quite easy. But car owners do need to learn how big insurance companies market on the web.
First Step: Get free car insurance quotes
Effectively comparing car insurance prices can take time and effort if you don’t utilize the easiest way. You can waste hours discussing policy coverages with insurance agencies in your area, or you can utilize the internet for quick rates.
The majority of car insurance companies are enrolled in a marketplace that enables customers to only type in their quote data once, and every company returns a rated price determined by their information. This system prevents you from having to do quote forms for each company. To find out how much you’re overpaying now enter your zip code here.
The only downside to using this type of system is that you can’t choose the companies you want to price. If you prefer to choose from a list of companies to receive pricing from, we have a page of the cheapest car insurance companies in your area. Click to enter zip code.
It doesn’t matter which method you choose, just ensure you’re using the same coverages and limits with each company. If you enter different deductibles you can’t possibly make a fair comparison for your Tesla Model X. Quoting even small variations in insurance coverages may cause a big price difference. And when price shopping your coverage, quoting more gives you a better chance of getting a better price. Not every company allows you to get online rate quotes, so it’s necessary to compare price quotes from them, too.
Get cheaper car insurance rates with discounts
Car insurance companies don’t list every discount in a way that’s easy to find, so the below list has both the well known and the more hidden discounts you could be receiving when you buy car insurance online.
- Federal Government Employee – Federal government employees can save as much as 8% for Model X insurance with some car insurance companies.
- Safety Course Discount – Taking time to complete a class that teaches defensive driver techniques could possibly earn you a 5% discount and easily pay for the cost of the class.
- Home Ownership Discount – Just owning your own home may earn you a small savings because owning a home shows financial diligence.
- Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to enroll and complete driver’s education as it will make them better drivers and lower rates.
- Discounts for Multiple Vehicles – Buying insurance for all your vehicles on the same car insurance policy can get a discount on all vehicles.
- No Claim Discounts – Drivers with accident-free driving histories pay much less as compared to drivers who are more careless.
Don’t be shocked that some of the credits will not apply to the overall cost of the policy. Most only cut the price of certain insurance coverages like comprehensive or collision. Just because you may think you could get a free car insurance policy, nobody gets a free ride. But all discounts will definitely lower the amount you pay for coverage.
To locate companies offering car insurance discounts, enter your zip code here.
Insurance price influencing factors
Multiple criteria are used in the calculation when you get your auto insurance bill. Some are obvious like a motor vehicle report, although some other factors are more transparent like your vehicle usage or how safe your car is.When buying auto insurance it’s important to understand the factors that are used to determine your auto insurance rates. When you understand what impacts premium levels, this allows you to make good choices that will entitle you to much lower annual insurance costs.
The items below are a few of the things utilized by car insurance companies to help set your rate level.
- Miles driven impacts costs – Driving a lot of miles every year the more you will pay for auto insurance. Many insurance companies calculate rates determined by how the vehicle is used. Vehicles left parked in the garage get more affordable rates compared to those used for work or business. Double check that your vehicle rating reflects the correct usage. Having an incorrect usage rating on your Model X can cost quite a bit.
- Always keep your coverage in force – Allowing your coverage to lapse can be a fast way to pay more for auto insurance. In addition to paying higher premiums, not being able to provide proof of insurance could earn you fines and jail time. You could then be forced to provide proof of insurance in the form of an SR-22 filing with your state department of motor vehicles.
- Get married and get better prices – Having a wife or husband helps lower the price on auto insurance. It usually means you are more financially stable and statistics prove drivers who are married file infrequent claims.
- Liability coverage risk factors in – Your auto insurance policy’s liability coverage will protect you in the event that you are responsible for causing damage or personal injury in an accident. It provides you with a defense in court to defend your case. It is affordable coverage when compared to the cost of physical damage coverage, so do not skimp.
- High credit history translates to low costs – An insured’s credit score is likely to be a major factor in determining what you pay. Insureds that have very good credit scores tend to file fewer claims and have better driving records as compared to drivers with worse credit. Therefore, if your credit history is lower than you’d like, you could pay less to insure your 2018 Tesla Model X if you clean up your credit.
- City traffic equals higher prices – Being located in less populated areas of the country can be a good thing if you are looking for the lowest rates. Urban drivers regularly have much more traffic and longer commutes to work. Fewer drivers on the road means less chance of accidents and a lower car theft rate.
- Know your vehicle’s NHTSA crash test rating – Vehicles that have high safety ratings get lower rates. Safe vehicles reduce the chance of injuries and fewer injuries means less money paid by your insurance company and thus lower rates.
- Do you qualify for a multi-policy discount? – Most larger auto insurance companies give a discount to buyers who buy several policies from them. It’s known as a multi-policy discount. Discounts can amount to 10 percent or more. Even if you qualify for this discount already, you may still want to comparison shop to ensure the best deal.
Tailor your insurance coverage coverage to you
When it comes to choosing the right insurance coverage, there is no cookie cutter policy. Everyone’s situation is a little different so your insurance should reflect that Here are some questions about coverages that can help discover if your situation will benefit from professional help.
- Am I getting all the discounts available?
- Is my state a no-fault state?
- Is my babysitter covered when using my vehicle?
- Where can I find DUI or SR-22 insurance?
- Should I sign the liability waiver when renting a car?
- Are rock chip repairs covered?
- Do I pay less if my vehicle is kept in my garage?
- Do I need motorclub coverage?
- How much can I save by bundling my policies?
If you can’t answer these questions but you think they might apply to your situation then you might want to talk to an insurance agent. If you want to speak to an agent in your area, complete your zip code.
Auto insurance in the media
Auto insurance companies such as State Farm and Allstate seem to constantly run television, radio, and online ads. They all seem to advertise claims about how much you will save if you switch to them. It sounds good, but how can they all save you money? Here is how they do it.
Many companies provide the lowest rates for the right customer that will not have excessive claims. An example of a desirable risk might be a mature driver, has a clean driving record, and has great credit. Anybody that meets those criteria will get the preferred premium rates and will most likely cut their rates substantially.
Insureds who do not match the requirements will be quoted higher rates with the end result being business not being written. If you listen to the ad wording, they say “drivers that switch” but not “everyone who gets a quote” save that much money. That is how insurance companies can advertise the way they do. Because of these techniques, drivers must get car insurance quotes as often as possible. It is just not possible to predict which company will have the best car insurance rates at this point in time.
Specific coverages for a Tesla Model X
Having a good grasp of your policy can help you determine the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Shown next are typical coverage types offered by auto insurance companies.
This provides protection from damage or injury you incur to people or other property in an accident. It protects YOU from legal claims by others. It does not cover damage to your own property or vehicle.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.
Liability coverage protects against claims such as medical services, medical expenses, funeral expenses and structural damage. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase higher limits if possible.
Medical costs insurance
Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills like ambulance fees, surgery, nursing services, EMT expenses and dental work. The coverages can be used to cover expenses not covered by your health insurance program or if you do not have health coverage. Coverage applies to you and your occupants as well as any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state and may carry a deductible
Comprehensive or Other Than Collision
Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things like rock chips in glass, a broken windshield, falling objects, fire damage and damage from a tornado or hurricane. The maximum amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.
Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked.
Collision coverage protection
Collision insurance pays to fix your vehicle from damage from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.
Collision insurance covers claims such as colliding with a tree, crashing into a building, driving through your garage door and rolling your car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also choose a higher deductible to save money on collision insurance.
Shop Smart and Save
Budget-conscious 2018 Tesla Model X insurance is possible online and from local agencies, so you should compare both to get a complete price analysis. A few companies may not offer online quoting and these regional insurance providers only sell coverage through independent insurance agents.
While you’re price shopping online, make sure you don’t buy poor coverage just to save money. There are a lot of situations where an insured cut liability coverage limits only to find out that it was a big mistake. The ultimate goal is to purchase plenty of coverage at the best price, but don’t skip important coverages to save money.
More information can be found at the links below
Rates by U.S. City
|New York City, NY||$3,315|
|Los Angeles, CA||$3,585|
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||$175|
|5-yr Claim Free||$141|
|Paid in Full/EFT||$111|
Discounts are estimated and may not be available from every company or in every state.