Tesla Model S Insurance Rates

Average insurance rates for a Tesla Model S are $1,740 a year for full coverage. Comprehensive insurance costs on average $414 a year, collision insurance costs $800, and liability insurance is estimated at $390. A policy with just liability insurance costs approximately $438 a year, and coverage for high-risk drivers costs $3,788 or more. Teen drivers receive the highest rates at up to $6,234 a year.

Average premium for full coverage: $1,740

Rate estimates by individual coverage type:

Rates are based on $500 physical damage insurance deductibles, split liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates are averaged for all states and Model S trim levels.

Price Range by Coverage and Risk

Price Range by Location

Living in a larger city has a significant impact on car insurance rates. Rural areas tend to have a lower frequency of accident claims than larger metro areas. The diagram below illustrates how location impacts car insurance rates.

These examples show why it is important to get quotes based on a specific location and risk profile, rather than relying on price averages.

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

Additional Rate Details

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

• The lowest rate with discounts is $965
• Choosing higher $1,000 deductibles can save around $1,466 a year
• The average rate for a 40-year-old driver with $500 deductibles is $1,740
• Choosing low $100 deductibles for comp and collision coverage will cost an extra $538 a year
• High-risk insureds with multiple violations and an at-fault accident could pay upwards of $3,788
• The cost for full coverage for a teen driver may cost $6,234 each year

View Chart as Image

Insurance rates for a Tesla Model S can also vary considerably based on your driver profile, the trim level of your Model S, and policy deductibles and limits.

Older drivers with no violations or accidents and high deductibles could pay as little as $1,600 annually on average for full coverage. Rates are highest for teen drivers, where even good drivers should be prepared to pay upwards of $6,200 a year. View Rates by Age

Where you live plays a big part in determining prices for Tesla Model S insurance rates. A good driver about age 40 could pay as low as $1,150 a year in states like Idaho, Maine, and Iowa, or as much as $2,480 on average in Michigan, Louisiana, and New York.

View Chart as Image

Choosing high deductibles can save as much as $820 each year, while buying higher liability limits will cost you more. Going from a 50/100 limit to a 250/500 limit will cost as much as $351 more each year. View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you could be paying at a minimum $2,100 to $2,800 additional per year, depending on your age. A high-risk auto insurance policy ranges anywhere from 45% to 135% more than average. View High Risk Driver Rates

How to Find the Best Cheap Tesla Model S Insurance

Saving money on Tesla Model S insurance takes being a low-risk driver, having a good credit history, eliminating unneeded coverage, and dropping full coverage on older vehicles. Spend time shopping around at least once a year by getting rate quotes from direct carriers like GEICO and Progressive, and also from your local insurance agents.

The items below are a quick review of the primary concepts that were touched on above.

• Drivers can save as much as $220 per year just by quoting early and online
• High-risk drivers with a DUI or reckless driving violation will pay on average $2,050 more each year to insure their Model S
• Increasing deductibles can save around $800 each year
• Teen drivers pay higher rates, costing as high as $520 per month including comprehensive and collision insurance