Tesla Model S Insurance Rates

Estimated insurance rates for a Tesla Model S are $1,740 a year for full coverage insurance. Comprehensive costs around $414, collision costs $800, and liability costs around $390. A liability-only policy costs as low as $438 a year, with high-risk insurance costing around $3,788. Teens pay the most at $6,234 a year or more.

Average premium for full coverage: $1,740

Premium estimates for type of coverage:

Full coverage includes $500 comprehensive and collision deductibles, minimum liability limits, and includes medical and uninsured motorist coverage. Rates include averaging for all 50 states and for different Model S trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Where you live can make a big difference on car insurance rates. Areas with sparse population are statistically proven to have lower incidents of physical damage claims than cities with more traffic congestion.

The price range example below illustrates how location impacts auto insurance rates.

These rate differences illustrate why anyone shopping for car insurance should compare prices for a specific zip code, instead of making a decision based on averaged prices.

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

Detailed Rate Analysis

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

• The cheapest rate after discounts is $965
• Using higher $1,000 deductibles will save about $274 each year
• The estimated price for a 40-year-old good driver using $500 deductibles is $1,740
• Selecting more expensive low deductibles for physical damage coverage bumps up the cost to $2,278
• High-risk insureds with serious driving violations could pay at least $3,788 or more
• An auto insurance policy that insures a 16-year-old driver with full coverage can be $6,234 or more

View Chart as Image

Auto insurance prices for a Tesla Model S also have a wide range based on the model year and trim level, your age and driving record, and deductibles and policy limits.

If you have a few violations or you caused an accident, you are probably paying at least $2,100 to $2,800 in extra premium annually, depending on your age. High-risk driver insurance can be from 45% to 135% more than the average policy. View High Risk Driver Rates

An older driver with a good driving record and higher comprehensive and collision deductibles may pay as low as $1,600 a year, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, since even teens with perfect driving records will have to pay as much as $6,200 a year. View Rates by Age

Where you choose to live has a huge impact on Tesla Model S insurance prices. A driver around age 40 might see prices as low as $1,140 a year in states like Vermont, Wisconsin, and North Carolina, or have to pay at least $2,350 on average in Michigan, New York, and Florida.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could cut prices by as much as $820 annually, while increasing your policy's liability limits will increase prices. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $351 extra every year. View Rates by Deductible or Liability Limit

With such a large range in prices, the only way to figure out your exact price is to compare prices from multiple companies. Each insurance company calculates prices differently, and quoted prices will be substantially different.

How to Find More Affordable Tesla Model S Insurance

Finding better rates on insurance for a Tesla Model S requires avoiding accidents and violations, maintaining a good credit score, paying for small claims out-of-pocket, and maximizing policy discounts. Compare rates every couple of years by obtaining price quotes from direct insurance companies, and also from insurance agencies where you live.

The list below is a summary of the material that was touched on above.

• Insureds who may need higher liability limits will pay approximately $430 annually to increase from 30/60 bodily injury limits to the 250/500 level
• Teenagers are expensive to insure, with premiums being up to $520 per month if the policy includes full coverage
• Drivers considered higher risk who have multiple accidents or major violations could be forced to pay on average $2,050 more every year for car insurance
• Increasing policy deductibles can save approximately $800 each year