Tesla Model S Insurance Rates

U.S. average insurance rates for a Tesla Model S are $1,848 a year with full coverage. Comprehensive costs on average $432 a year, collision insurance costs $892, and liability insurance costs $388. A policy with just liability insurance costs as little as $434 a year, and coverage for high-risk drivers costs around $4,036. Teenage drivers pay the highest rates at up to $6,602 a year.

Average premium for full coverage: $1,848

Price estimates by individual coverage:

Includes $500 policy deductibles, 30/60 split liability limits, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all U.S. states and Model S trim levels.

Price Range from Low to High

Geographic Price Range

Your location has a significant impact on auto insurance rates. Rural areas have lower incidents of collision claims than densely populated cities. The diagram below illustrates how your location can change car insurance rates.

The ranges above demonstrate why it is important to compare rates based on a specific location, rather than relying on average rates.

Use the form below to get customized rates for your location.

More Rate Information

The chart below details average Tesla Model S insurance rates for different risk profiles and scenarios.

• The best discount rate is $1,014
• Drivers who choose higher $1,000 deductibles will pay around $1,550 annually
• The estimated price for the average middle-age driver with $500 deductibles is $1,848
• Using low $100 deductibles for comprehensive and collision insurance bumps up the cost to $2,438
• High risk drivers who are prone to accidents and violations could pay upwards of $4,036
• The price that insures a teen driver may cost $6,602 a year

View Chart as Image

Insurance prices for a Tesla Model S are also quite variable based on the trim level of your Model S, your age and driving habits, and policy deductibles and limits.

If you have some driving violations or you caused an accident, you may be forking out at a minimum $2,200 to $3,000 extra each year, depending on your age. A high-risk auto insurance policy can cost anywhere from 45% to 133% more than a normal policy. View High Risk Driver Rates

Older drivers with a clean driving record and higher comprehensive and collision deductibles could pay as little as $1,700 per year on average for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records can expect to pay upwards of $6,600 a year. View Rates by Age

The state you live in makes a big difference in Tesla Model S insurance rates. A 40-year-old driver 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.

View Chart as Image

Using high physical damage deductibles could save up to $890 each year, while buying higher liability limits will cost you more. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $349 more per year. View Rates by Deductible or Liability Limit

How to Find the Cheapest Tesla Model S Insurance

Getting lower rates on Tesla Model S insurance not only requires being a good driver, but also having above-average credit, avoid buying unnecessary coverage, and determing if full coverage is necessary. Compare prices at least every other year by getting price quotes from direct companies, and also from several local insurance agents.

The following list is a recap of the car insurance concepts illustrated above.

• High-risk drivers that have major violations or accidents pay on average $2,190 more each year than a safer driver
• You may be able to save as much as $240 per year just by quoting early and online
• Increasing physical damage deductibles can save approximately $900 each year
• Drivers who require an increased level of liability coverage will pay an extra $430 every year to go from a low limit to the 250/500 level