Tesla Model S Insurance Rates

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

Average premium for full coverage: $1,740

Premium estimates for type of coverage:

Full coverage includes $500 policy deductibles, split liability limits of 30/60, and includes uninsured motorist and medical coverage. Rates include averaging for all U.S. states and Model S trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Where you live has a large influence on insurance rates. Areas with sparse population are statistically proven to have lower incidents of collision claims than larger metro areas. The diagram below illustrates the effect of geographic area on auto insurance rates.

These rate differences demonstrate why it is important to compare prices for a specific zip code, rather than using price averages.

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

Additional Rate Information

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

• The lowest rate with discounts is $965
• Using higher $1,000 deductibles will save about $1,466 annually
• The estimated price for a 40-year-old good driver using $500 deductibles is $1,740
• Choosing low $100 deductibles for physical damage coverage will cost an additional $538 each year
• Higher-risk drivers with multiple violations and an at-fault accident could pay at least $3,788
• An auto insurance policy that insures a teenage driver can be $6,234 or more

View Chart as Image

Insurance prices for a Tesla Model S also have a wide range based on the trim level of your Model S, your age and driving habits, and deductibles and policy limits.

If you have a few violations or you caused an accident, you may be forking out at least $2,100 to $2,800 additional annually, depending on your age. A high-risk auto insurance policy can be around 45% to 135% more than average. View High Risk Driver Rates

Older drivers with no violations or accidents and higher comprehensive and collision deductibles may only pay around $1,600 a year, or $133 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records should be prepared 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 rates. A driver around age 40 might see prices as low as $1,250 a year in states like New Hampshire, Ohio, and Utah, or as much as $2,350 on average in Florida, Michigan, and New York.

View Chart as Image

Choosing high deductibles could cut prices by as much as $820 a year, while buying higher liability limits will increase prices. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $351 more each year. View Rates by Deductible or Liability Limit

How to Find More Affordable Tesla Model S Insurance

Finding better rates on auto insurance requires being a good driver, having a good credit score, being claim-free, and deciding if full coverage is necessary. Shop around at least once a year by quoting rates from direct companies, and also from your local independent and exclusive agents.

The following list is a summary of the primary concepts that were covered in the above illustrations.

• You may be able to save up to $220 per year just by quoting early and online
• Drivers who have multiple accidents or major violations may pay on average $2,050 more every year than a safer driver
• Increasing policy deductibles can save approximately $800 each year
• Drivers age 16 to 20 are charged the highest prices, possibly costing $520 per month if comprehensive and collision insurance is included