Tesla Model S Insurance Rates
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UPDATED: Jun 6, 2024
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The average auto insurance rates for a Tesla Model S are $1,740 annually for full coverage. Comprehensive costs an estimated $414 each year, collision costs $800, and liability costs $390. Buying just liability costs as little as $438 a year, with insurance for high-risk drivers costing around $3,788. Teen drivers cost the most to insure at $6,234 a year or more.
Average premium for full coverage: $1,740
Policy rates broken down by type of insurance:
Prices are based on $500 deductible amounts, 30/60 bodily injury liability limits, and includes medical and UM/UIM coverage. Prices are averaged for all states and Model S models.
Price Range Variability
For a driver around age 40, Tesla Model S insurance rates go from as cheap as $438 for just liability insurance to a high rate of $3,788 for a driver who requires high-risk insurance.
Urban vs. Rural Price Range
Your location can make a big difference on insurance rates. More rural locations are shown to have fewer accident claims than larger metro areas.
The graphic below illustrates the difference between rural and urban areas on insurance prices.
The examples above show why all drivers should compare rates for a targeted area and their own personal driving habits, instead of making a decision based on price averages.
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.
More Rate Details
The chart below shows estimated Tesla Model S insurance rates for other coverage scenarios.
- The lowest rate with discounts is $965
- Drivers who choose higher $1,000 deductibles will pay approximately $274 a year
- The estimated rate for a good driver age 40 who has $500 deductibles is $1,740
- Choosing low deductibles for comprehensive and collision insurance will cost $2,278
- Drivers with multiple violations and an at-fault accident could pay up to $3,788 or more
- Policy cost with full coverage for a 16-year-old driver can cost as much as $6,234 a year
Insurance rates for a Tesla Model S also range considerably based on the model year and trim level, your driver profile, and liability limits and deductibles.
More mature drivers with a clean driving record and high physical damage deductibles may pay as low as $1,600 per year on average, or $133 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they can expect to pay at least $6,200 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you could be paying $2,100 to $2,800 extra every year, depending on your age. Insurance for high-risk drivers can cost from 45% to 135% more than average. View High Risk Driver Rates
Choosing high deductibles could save up to $820 annually, whereas increasing liability limits will increase premiums. Going from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $351 more per year. View Rates by Deductible or Liability Limit
Your home state makes a big difference in Tesla Model S insurance prices. A 40-year-old driver could pay as low as $1,150 a year in states like Iowa, Maine, and Idaho, or as much as $2,480 on average in New York, Louisiana, and Michigan.
| 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% |
Because rates have so much variability, the only way to know which auto insurance is cheapest is to do a rate comparison from multiple companies. Every company uses a different rate calculation, so the rates will be varied between companies.
| 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 Buy Affordable Tesla Model S Insurance
Finding cheaper rates on insurance for a Tesla Model S not only requires having a good driving record, but also having a good credit history, avoid buying unnecessary coverage, and taking advantage of discounts. Set aside time to compare rates at every other renewal by requesting rates from direct carriers like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.
The next list is a brief review of the concepts that were covered above.
- Drivers considered higher risk with DUI or reckless driving convictions may pay on average $2,050 more annually to buy Tesla Model S insurance
- Drivers age 20 and younger are charged the highest rates, costing up to $520 each month including comprehensive and collision insurance
- Drivers can save approximately $220 per year simply by quoting online in advance
- Increasing comprehensive and collision deductibles could save up to $800 each year
- Drivers can save approximately $220 per year simply by quoting online in advance
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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