Tesla Model S Insurance Rates

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UPDATED: Jun 6, 2024

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Estimated insurance rates for a Tesla Model S are $1,848 a year for full coverage. Comprehensive costs an estimated $432, collision costs $892, and liability is estimated at $388. A policy with only liability insurance costs approximately $434 a year, with a high-risk policy costing around $4,036. 16-year-old drivers pay the most at $6,602 a year or more.

Average premium for full coverage: $1,848

Premium estimates broken down by type of coverage:

Comprehensive $432
Collision $892
Liability $388

Price estimates include $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes medical and uninsured motorist coverage. Rates include averaging for all states and for different Model S trim levels.

Insurance Price Range by Risk and Coverage

For a driver in their 40's, insurance rates for a Tesla Model S go from the low end price of $434 for just liability coverage to a much higher rate of $4,036 for a high-risk driver policy.

Liability Only $434
Full Coverage $1,848
High Risk $4,036

Insurance Price Range by Location

Living in a larger city can make a big difference on insurance rates. More rural locations are statistically proven to have lower incidents of accident claims than congested cities.

The price range example below illustrates how location helps determine insurance prices.

Rural Areas $1,386
Small Cities $1,940
Large Cities $2,495

These rate differences show why anyone shopping for car insurance should get quotes for a targeted area, instead of making a decision based on rate averages.

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 shows estimated Tesla Model S insurance rates for other coverage scenarios.

  • The best full coverage rate is $1,014
  • Choosing higher $1,000 deductibles can save approximately $298 a year
  • The estimated price for a 40-year-old good driver who has $500 deductibles is $1,848
  • Buying more expensive low deductibles for comp and collision coverage bumps up the cost to $2,438
  • Higher-risk drivers with multiple tickets or accidents could pay up to $4,036 or more
  • An auto insurance policy that insures a 16-year-old driver with full coverage can cost as much as $6,602 each year

View Chart as Image

Tesla Model S insurance cost comparison chart
Column chart showing full coverage Tesla Model S insurance rates range from $1,014 to $6,602

Car insurance prices for a Tesla Model S also have a wide range based on the model year and trim level, how you drive, and liability limits and deductibles.

If you have a few violations or you caused an accident, you could be paying $2,200 to $3,000 extra annually, depending on your age. High-risk driver insurance ranges from 45% to 133% more than the average rate. View High Risk Driver Rates

An older driver with no driving violations and higher comprehensive and collision deductibles may pay as low as $1,700 annually on average, or $142 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records will be charged at least $6,600 a year. View Rates by Age

Where you choose to live plays a big part in determining prices for Tesla Model S insurance prices. A good driver about age 40 could pay as low as $1,220 a year in states like Iowa, Maine, and Idaho, or at least $2,630 on average in New York, Louisiana, and Michigan.

Tesla Model S Insurance Rates by State
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%

View Chart as Image

Tesla Model S insurance rates by U.S. city

Opting for high physical damage deductibles can save as much as $890 annually, while increasing your policy's liability limits will increase premiums. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $349 extra every 12 months. View Rates by Deductible or Liability Limit

With such a large range in prices, the only way to know which insurance company is cheapest is to compare prices from multiple companies. Each auto insurer utilizes a different rate formula, so rate quotes will be substantially different.

Tesla Model S Insurance Rates by Model Year
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 Find Cheaper Tesla Model S Insurance

Finding better rates on insurance for a Tesla Model S takes having a decent driving record, having a positive credit history, not filing small claims, and not having any coverage lapses. Comparison shop every time your policy renews by getting rate quotes from direct carriers, and also from your local independent and exclusive agents.

The following items are a condensed summary of the information covered in the charts and tables above.

  • Drivers can save approximately $240 per year simply by shopping early and online
  • 16 to 18-year-old drivers have the highest car insurance prices, as much as $550 per month if full coverage is purchased
  • Increasing policy deductibles can save approximately $900 each year
  • Drivers considered higher risk with multiple at-fault accidents may pay on average $2,190 more annually than a driver with a clean driving record
  • Insureds who want additional liability coverage will pay around $430 each year to raise limits from 30/60 bodily injury limits to the 250/500 level

Rates by Driver Age

Tesla Model S Insurance 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

Tesla Model S Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,438
$250 $2,162
$500 $1,848
$1,000 $1,550

Full coverage, driver age 40

Rates by Liability Limit

Tesla Model S Insurance Rates with Different Liability Limits
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

Tesla Model S Insurance 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.

SR-22 Surcharge $270

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
Rate after discounts $1,014

Discounts are estimated and may not be available from every company or in every state.

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