Tesla Model S Insurance Rates
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Michelle Robbins
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Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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UPDATED: Jun 6, 2024
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Average insurance rates for a Tesla Model S are $1,740 a year for full coverage insurance. Comprehensive costs around $414 a year, collision costs $800, and liability costs $390. A liability-only policy costs as little as $438 a year, with high-risk insurance costing around $3,788. Teenage drivers receive the highest rates at $6,234 a year or more.
Average premium for full coverage: $1,740
Rate estimates for individual coverage type:
Rates are based on $500 physical damage insurance deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Rates are averaged for all 50 states and Model S trim levels.
Price Range by Coverage and Risk
For an average driver, prices range go from the low end price of $438 for liability-only coverage to a high of $3,788 for coverage for higher-risk drivers.
Price Range by Location
Your location can have significant affects on car insurance rates. Areas with sparse population tend to have lower incidents of physical damage claims than densely populated cities.
The diagram below illustrates the effect of geographic area on auto insurance rates.
These examples illustrate why it is important to compare rates for a specific zip code, instead of using average rates.
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.
Additional Charts and Tables
The chart below illustrates estimated Tesla Model S insurance rates for additional coverage choices and driver risks.
- The best discount rate is $965
- Drivers who choose higher $1,000 deductibles will pay about $1,466 each year
- The estimated price for a 40-year-old driver using $500 deductibles is $1,740
- Using low $100 deductibles for comprehensive and collision insurance bumps up the cost to $2,278
- Higher-risk drivers who are prone to accidents and violations could pay at least $3,788 or more
- The cost that insures a teen driver can be $6,234 a year
Insurance rates for a Tesla Model S can also vary considerably based on the trim level of your Model S, your age and driving record, and deductibles and policy limits.
If you like to drive fast or you caused an accident, you are probably paying at least $2,100 to $2,800 extra per year, depending on your age. A high-risk auto insurance policy can cost as much as 45% to 135% more than a normal policy. View High Risk Driver Rates
Older drivers with a clean driving record and higher comprehensive and collision deductibles may pay as little as $1,600 per year on average for full coverage. Rates are much higher for teen drivers, since even teens with perfect driving records can expect to pay as much as $6,200 a year. View Rates by Age
Where you live makes a big difference in Tesla Model S insurance prices. A 40-year-old driver could pay as low as $1,140 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,350 on average in Michigan, New York, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,572 | -$168 | -9.7% |
| Alaska | $1,336 | -$404 | -23.2% |
| Arizona | $1,444 | -$296 | -17.0% |
| Arkansas | $1,740 | -$0 | 0.0% |
| California | $1,984 | $244 | 14.0% |
| Colorado | $1,662 | -$78 | -4.5% |
| Connecticut | $1,788 | $48 | 2.8% |
| Delaware | $1,968 | $228 | 13.1% |
| Florida | $2,174 | $434 | 24.9% |
| Georgia | $1,610 | -$130 | -7.5% |
| Hawaii | $1,250 | -$490 | -28.2% |
| Idaho | $1,180 | -$560 | -32.2% |
| Illinois | $1,298 | -$442 | -25.4% |
| Indiana | $1,312 | -$428 | -24.6% |
| Iowa | $1,174 | -$566 | -32.5% |
| Kansas | $1,654 | -$86 | -4.9% |
| Kentucky | $2,376 | $636 | 36.6% |
| Louisiana | $2,576 | $836 | 48.0% |
| Maine | $1,076 | -$664 | -38.2% |
| Maryland | $1,436 | -$304 | -17.5% |
| Massachusetts | $1,390 | -$350 | -20.1% |
| Michigan | $3,022 | $1,282 | 73.7% |
| Minnesota | $1,460 | -$280 | -16.1% |
| Mississippi | $2,084 | $344 | 19.8% |
| Missouri | $1,546 | -$194 | -11.1% |
| Montana | $1,870 | $130 | 7.5% |
| Nebraska | $1,370 | -$370 | -21.3% |
| Nevada | $2,088 | $348 | 20.0% |
| New Hampshire | $1,256 | -$484 | -27.8% |
| New Jersey | $1,946 | $206 | 11.8% |
| New Mexico | $1,540 | -$200 | -11.5% |
| New York | $1,832 | $92 | 5.3% |
| North Carolina | $1,002 | -$738 | -42.4% |
| North Dakota | $1,426 | -$314 | -18.0% |
| Ohio | $1,200 | -$540 | -31.0% |
| Oklahoma | $1,786 | $46 | 2.6% |
| Oregon | $1,594 | -$146 | -8.4% |
| Pennsylvania | $1,658 | -$82 | -4.7% |
| Rhode Island | $2,322 | $582 | 33.4% |
| South Carolina | $1,578 | -$162 | -9.3% |
| South Dakota | $1,468 | -$272 | -15.6% |
| Tennessee | $1,524 | -$216 | -12.4% |
| Texas | $2,098 | $358 | 20.6% |
| Utah | $1,290 | -$450 | -25.9% |
| Vermont | $1,190 | -$550 | -31.6% |
| Virginia | $1,042 | -$698 | -40.1% |
| Washington | $1,344 | -$396 | -22.8% |
| West Virginia | $1,596 | -$144 | -8.3% |
| Wisconsin | $1,204 | -$536 | -30.8% |
| Wyoming | $1,550 | -$190 | -10.9% |
Using high physical damage deductibles could save up to $820 every year, while buying higher liability limits will increase rates. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $351 more per year. View Rates by Deductible or Liability Limit
With so much variability in rates, the only way to figure out your exact price is to get quotes and see which company has the best rate. Every company uses a different method to calculate rates, so the rates can be significantly different.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Tesla Model S | $532 | $1,130 | $338 | $2,136 |
| 2023 Tesla Model S | $514 | $1,104 | $354 | $2,108 |
| 2022 Tesla Model S | $496 | $1,058 | $364 | $2,054 |
| 2021 Tesla Model S | $470 | $1,020 | $376 | $2,002 |
| 2020 Tesla Model S | $452 | $946 | $384 | $1,918 |
| 2019 Tesla Model S | $432 | $892 | $388 | $1,848 |
| 2018 Tesla Model S | $414 | $800 | $390 | $1,740 |
| 2017 Tesla Model S | $388 | $736 | $390 | $1,650 |
| 2016 Tesla Model S | $374 | $690 | $394 | $1,594 |
| 2014 Tesla Model S | $338 | $598 | $402 | $1,474 |
| 2013 Tesla Model S | $330 | $542 | $406 | $1,414 |
| 2012 Tesla Model S | $306 | $496 | $402 | $1,340 |
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 Find the Best Cheap Tesla Model S Insurance
Saving money on car insurance not only requires being a low-risk driver, but also having above-average credit, avoid buying unnecessary coverage, and insuring your home and auto with the same company. Compare prices at least once a year by getting rate quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
The items below are a quick review of the primary concepts that were covered in the above illustrations.
- It is possible to save up to $220 per year simply by quoting early and online
- Higher risk drivers with a DUI or reckless driving violation could be forced to pay on average $2,050 more every year to insure their Model S
- Increasing deductibles can save approximately $800 each year
- Teen drivers pay higher rates, costing up to $520 per month if full coverage is included
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,234 |
| 20 | $4,028 |
| 30 | $1,838 |
| 40 | $1,740 |
| 50 | $1,588 |
| 60 | $1,560 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,278 |
| $250 | $2,028 |
| $500 | $1,740 |
| $1,000 | $1,466 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,740 |
| 50/100 | $1,818 |
| 100/300 | $1,916 |
| 250/500 | $2,169 |
| 100 CSL | $1,857 |
| 300 CSL | $2,072 |
| 500 CSL | $2,228 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,982 |
| 20 | $6,420 |
| 30 | $3,898 |
| 40 | $3,788 |
| 50 | $3,610 |
| 60 | $3,578 |
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 | $96 |
| Multi-vehicle | $91 |
| Homeowner | $24 |
| 5-yr Accident Free | $140 |
| 5-yr Claim Free | $116 |
| Paid in Full/EFT | $88 |
| Advance Quote | $92 |
| Online Quote | $128 |
| Total Discounts | $775 |
Discounts are estimated and may not be available from every company or in every state.
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