Tesla Model S Insurance Rates

The average insurance rates for a Tesla Model S are $1,740 a year with full coverage. Comprehensive insurance costs an estimated $414 each year, collision insurance costs $800, and liability costs around $390. Liability-only insurance costs as low as $438 a year, and high-risk driver insurance costs $3,788 or more. Teens cost the most to insure at up to $6,234 a year.

Average premium for full coverage: $1,740

Policy rates broken down by type of insurance:

Price estimates include $500 policy deductibles, minimum liability limits, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all U.S. states and Model S models.

Price Range Variability

Urban vs. Rural Price Range

Where you live can have significant affects on car insurance rates. More rural locations are shown to have a lower frequency of collision claims than cities with more traffic congestion. The graphic below illustrates how where you live affects insurance prices.

The examples above demonstrate why all drivers should compare prices for a targeted area and risk profile, instead of using averaged prices.

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

Additional Charts and Tables

The chart below details average Tesla Model S insurance rates for other coverage scenarios.

• The cheapest rate after discounts is $965
• Using higher $1,000 deductibles will save approximately $274 annually
• The average rate for a good driver age 40 who has $500 deductibles is $1,740
• Selecting low deductibles for physical damage coverage will cost an extra $538 every year
• Drivers with serious driving violations could pay up to $3,788
• Policy cost for full coverage for a teen driver can cost as much as $6,234 or more

View Chart as Image

Auto insurance rates for a Tesla Model S also range considerably based on your risk profile, the trim level and model year, and liability limits and deductibles.

More mature drivers with a good driving record and high deductibles may pay as little as $1,600 a year, or $133 per month, for full coverage. Rates are much higher for teenagers, where even good drivers will have to pay at least $6,200 a year. View Rates by Age

Your home state has a huge impact on Tesla Model S insurance prices. A driver around age 40 might see rates as low as $1,250 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,350 on average in New York, Michigan, and Florida.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could cut rates by as much as $820 every year, whereas increasing liability limits will increase premiums. Moving from a 50/100 limit to a 250/500 limit will raise rates by up to $351 extra every year. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you may be forking out $2,100 to $2,800 in extra premium every year, depending on your age. Insurance for high-risk drivers can be as much as 45% to 135% more than the average policy. View High Risk Driver Rates

How to Find Cheaper Tesla Model S Insurance

Finding cheaper rates on car insurance requires being safe and accident-free, having good credit, not filing small claims, and consideration of higher deductibles. Take the time to comparison shop every couple of years by obtaining price quotes from direct companies like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.

Below you'll find a condensed summary of the material that was touched on in the above illustrations.

• Policyholders who want more liability protection will pay approximately $430 every year to increase from a 30/60 limit to 250/500 limits
• Youthful drivers are the costliest to insure, as much as $520 each month if they have full coverage
• Higher risk drivers with multiple at-fault accidents may pay on average $2,050 more annually than a low-risk driver
• Increasing comprehensive and collision deductibles can save around $800 each year