Tesla Model S Insurance Rates

U.S. average insurance rates for a Tesla Model S are $1,848 a year for full coverage. Comprehensive costs on average $432 each year, collision insurance costs $892, and liability insurance costs $388. Buying just liability costs as little as $434 a year, and insurance for high-risk drivers costs around $4,036. Teens pay the highest rates at up to $6,602 a year.

Average premium for full coverage: $1,848

Price estimates by individual coverage:

Includes $500 physical damage deductibles, split liability limits of 30/60, and includes UM/UIM and medical coverage. Estimates are averaged for all states and Model S models.

Price Range from Low to High

Geographic Price Range

Your location has a significant impact on car insurance rates. Rural areas have a lower frequency of accident claims than cities with more traffic congestion. The graphic below illustrates how geographic area affects car insurance rates.

The ranges above show why all drivers should compare rates based on a specific location and risk profile, rather than relying on averaged prices.

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

Rates by State, City, and Model

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

• The cheapest rate after discounts is $1,014
• Drivers who choose higher $1,000 deductibles will pay around $298 a year
• The average rate for the average middle-age driver with $500 deductibles is $1,848
• Selecting low deductibles for comprehensive and collision insurance will increase the cost to $2,438
• High risk drivers with serious driving violations could pay upwards of $4,036
• The price for full coverage for a teen driver may cost $6,602 a year

View Chart as Image

Insurance prices for a Tesla Model S are also quite variable based on your driving record, the trim level of your Model S, and policy deductibles and limits.

More mature drivers with no violations or accidents and high deductibles could pay as little as $1,700 per year on average for full coverage. Prices are much higher for teenage drivers, where even good drivers should be prepared to pay upwards of $6,600 a year. View Rates by Age

The state you live in makes a big difference in Tesla Model S insurance rates. A 40-year-old driver could pay as low as $1,220 a year in states like Idaho, Maine, and Iowa, or have to pay at least $2,630 on average in Michigan, Louisiana, and New York.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could save up to $890 each year, whereas increasing liability limits will cost you more. Going from a 50/100 limit to a 250/500 limit will increase prices by as much as $349 more each year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you could be paying at a minimum $2,200 to $3,000 additional each year, depending on your age. Insurance for high-risk drivers can cost anywhere from 45% to 133% more than the average policy. View High Risk Driver Rates

How to Find the Cheapest Tesla Model S Insurance

Getting lower rates on Tesla Model S insurance not only requires being a safe and courteous driver, but also having a good credit history, eliminating unnecessary coverage, and dropping full coverage on older vehicles. Invest the time to compare rates at least once a year by quoting rates from direct carriers like Progressive and GEICO, and also from your local insurance agents.

Below is a recap of the primary concepts that were presented in the illustrations above.

• Drivers can save as much as $240 per year just by quoting online in advance
• High-risk drivers that have major violations or accidents will pay on average $2,190 more each year for auto insurance
• Increasing physical damage deductibles can save around $900 each year
• Teenage drivers pay higher prices, with premiums as much as $550 a month including comprehensive and collision insurance