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 $1,848 annually with full coverage. Comprehensive insurance costs an estimated $432 a year, collision costs $892, and liability coverage costs $388. Buying just liability costs as little as $434 a year, with insurance for high-risk drivers costing $4,036 or more. Teens cost the most to insure at $6,602 a year or more.
Average premium for full coverage: $1,848
Policy rates broken down by type of insurance:
Price estimates include $500 policy deductibles, minimum liability limits, and includes medical and uninsured motorist coverage. Prices are averaged for all U.S. states and Model S trim levels.
Price Range Variability
Using a 40-year-old driver as an example, Tesla Model S insurance rates go from as cheap as $434 for just liability coverage to a high of $4,036 for high-risk insurance.
Urban vs. Rural Price Range
Your location has a large influence on car insurance rates. More rural locations are shown to have fewer collision claims than cities with more traffic congestion.
The diagram below illustrates how rural and urban location affects insurance prices.
The examples above demonstrate why it is important to compare rates for a targeted area and their own personal driving habits, rather than using averaged prices.
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.
Detailed Rate Analysis
The chart below details estimated Tesla Model S insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $1,014
- Drivers who choose higher $1,000 deductibles will pay approximately $1,550 annually
- The estimated rate for a good driver age 40 who has $500 deductibles is $1,848
- Selecting low $100 deductibles for comprehensive and collision insurance costs an additional $590 each year
- High-risk insureds with serious driving violations could pay up to $4,036 or more
- Policy cost with full coverage for a teenage driver can cost as much as $6,602 a year
Insurance rates for a Tesla Model S also range considerably based on the model year and trim level, your driving record, and liability limits and deductibles.
Older drivers with a clean driving record and high physical damage deductibles may only pay around $1,700 per year on average, or $142 per month, for full coverage. Rates are much higher for teenagers, where even without any violations or accidents they can expect to pay at least $6,600 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you may be forking out $2,200 to $3,000 extra every year, depending on your age. A high-risk auto insurance policy can cost around 45% to 133% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles could save up to $890 a year, while buying higher liability limits will increase premiums. Moving from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $349 more per year. View Rates by Deductible or Liability Limit
Your home state 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 Utah, Ohio, and New Hampshire, or have to pay at least $2,490 on average in New York, Michigan, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,670 | -$178 | -9.6% |
| Alaska | $1,416 | -$432 | -23.4% |
| Arizona | $1,534 | -$314 | -17.0% |
| Arkansas | $1,848 | -$0 | 0.0% |
| California | $2,106 | $258 | 14.0% |
| Colorado | $1,764 | -$84 | -4.5% |
| Connecticut | $1,896 | $48 | 2.6% |
| Delaware | $2,088 | $240 | 13.0% |
| Florida | $2,308 | $460 | 24.9% |
| Georgia | $1,708 | -$140 | -7.6% |
| Hawaii | $1,326 | -$522 | -28.2% |
| Idaho | $1,252 | -$596 | -32.3% |
| Illinois | $1,374 | -$474 | -25.6% |
| Indiana | $1,392 | -$456 | -24.7% |
| Iowa | $1,246 | -$602 | -32.6% |
| Kansas | $1,754 | -$94 | -5.1% |
| Kentucky | $2,518 | $670 | 36.3% |
| Louisiana | $2,736 | $888 | 48.1% |
| Maine | $1,140 | -$708 | -38.3% |
| Maryland | $1,526 | -$322 | -17.4% |
| Massachusetts | $1,474 | -$374 | -20.2% |
| Michigan | $3,206 | $1,358 | 73.5% |
| Minnesota | $1,546 | -$302 | -16.3% |
| Mississippi | $2,212 | $364 | 19.7% |
| Missouri | $1,640 | -$208 | -11.3% |
| Montana | $1,984 | $136 | 7.4% |
| Nebraska | $1,456 | -$392 | -21.2% |
| Nevada | $2,216 | $368 | 19.9% |
| New Hampshire | $1,332 | -$516 | -27.9% |
| New Jersey | $2,064 | $216 | 11.7% |
| New Mexico | $1,634 | -$214 | -11.6% |
| New York | $1,944 | $96 | 5.2% |
| North Carolina | $1,064 | -$784 | -42.4% |
| North Dakota | $1,512 | -$336 | -18.2% |
| Ohio | $1,274 | -$574 | -31.1% |
| Oklahoma | $1,896 | $48 | 2.6% |
| Oregon | $1,692 | -$156 | -8.4% |
| Pennsylvania | $1,760 | -$88 | -4.8% |
| Rhode Island | $2,464 | $616 | 33.3% |
| South Carolina | $1,674 | -$174 | -9.4% |
| South Dakota | $1,558 | -$290 | -15.7% |
| Tennessee | $1,614 | -$234 | -12.7% |
| Texas | $2,226 | $378 | 20.5% |
| Utah | $1,366 | -$482 | -26.1% |
| Vermont | $1,262 | -$586 | -31.7% |
| Virginia | $1,106 | -$742 | -40.2% |
| Washington | $1,424 | -$424 | -22.9% |
| West Virginia | $1,696 | -$152 | -8.2% |
| Wisconsin | $1,278 | -$570 | -30.8% |
| Wyoming | $1,644 | -$204 | -11.0% |
Because rates have so much variability, the best way to find out which auto insurance is cheapest is to get quotes and see how they stack up. Every company calculates rates differently, so the rates will be varied between companies.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Tesla Model S | $554 | $1,140 | $332 | $2,162 |
| 2023 Tesla Model S | $532 | $1,130 | $338 | $2,136 |
| 2022 Tesla Model S | $514 | $1,104 | $354 | $2,108 |
| 2021 Tesla Model S | $496 | $1,058 | $364 | $2,054 |
| 2020 Tesla Model S | $470 | $1,020 | $376 | $2,002 |
| 2019 Tesla Model S | $452 | $946 | $384 | $1,918 |
| 2018 Tesla Model S | $432 | $892 | $388 | $1,848 |
| 2017 Tesla Model S | $414 | $800 | $390 | $1,740 |
| 2016 Tesla Model S | $388 | $736 | $390 | $1,650 |
| 2014 Tesla Model S | $366 | $644 | $402 | $1,548 |
| 2013 Tesla Model S | $338 | $598 | $402 | $1,474 |
| 2012 Tesla Model S | $330 | $542 | $406 | $1,414 |
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 Cheaper Tesla Model S Insurance
Finding cheaper rates on auto insurance not only requires being a good driver, but also having a good credit history, not filing small claims, and taking advantage of discounts. Set aside time to shop around every couple of years by quoting rates from direct companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.
The following list is a condensed summary of the material that was raised in the charts and tables above.
- Consumers who want an increased level of liability coverage will pay approximately $430 every year to go from a 30/60 limit to higher 250/500 limits
- Drivers age 16 to 20 are charged the highest rates, as much as $550 each month including comprehensive and collision insurance
- Drivers with multiple at-fault accidents pay on average $2,190 more annually than a safer driver
- Increasing comprehensive and collision deductibles could save up to $900 each year
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,602 |
| 20 | $4,298 |
| 30 | $1,954 |
| 40 | $1,848 |
| 50 | $1,684 |
| 60 | $1,656 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,438 |
| $250 | $2,162 |
| $500 | $1,848 |
| $1,000 | $1,550 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,848 |
| 50/100 | $1,926 |
| 100/300 | $2,023 |
| 250/500 | $2,275 |
| 100 CSL | $1,964 |
| 300 CSL | $2,178 |
| 500 CSL | $2,333 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,526 |
| 20 | $6,856 |
| 30 | $4,154 |
| 40 | $4,036 |
| 50 | $3,846 |
| 60 | $3,814 |
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 | $103 |
| Multi-vehicle | $98 |
| Homeowner | $25 |
| 5-yr Accident Free | $152 |
| 5-yr Claim Free | $124 |
| Paid in Full/EFT | $96 |
| Advance Quote | $99 |
| Online Quote | $137 |
| Total Discounts | $834 |
Discounts are estimated and may not be available from every company or in every state.
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