View 2017 Tesla Model S Insurance Rates in 2024

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 6, 2024

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Consumers have a choice when looking for the lowest priced Tesla Model S insurance. You can either spend your time contacting agents trying to get quotes or use the internet to compare rates. There is a better way to find car insurance online so you’re going to learn the quickest way to get price quotes on a Tesla and find the lowest possible price from local insurance agents and online providers.

How to get the cheapest car insurance

There are multiple methods to compare car insurance prices and some are less time-consuming than others. You could spend the better part of a day talking about coverages with insurance companies in your area, or you could save time and use the web to get prices fast.

Many popular insurance companies participate in an industry program where prospective buyers send in one quote, and at least one company provides a quote based on the submitted data. This saves time by eliminating repetitive form submissions to every company. To access this free quoting program, enter your zip code here.

One minor caveat to using this type of form is that consumers can’t choose the companies you will receive quotes from. So if you prefer to pick specific insurance companies for rate comparison, we have a listing of low cost car insurance companies in your area. Click to enter zip code.

Whichever way you choose to compare rates, be sure to compare the same deductibles and coverage limits with every price quote. If the quotes have higher or lower deductibles you will not be able to determine which company has the best rates.

Big names are not always cheapest

Drivers can’t escape the ads that claim the best rates from the likes of State Farm, Allstate and GEICO. All the companies seem to make the promise about how much you will save if you get a free car insurance quote and switch your policy.

That’s great but how can every company charge you less for car insurance? Just pay attention to how they say it.

All companies offer their best rates for the type of driver that earns them a profit. For example, a desirable insured might be described as over the age of 50, has no claims, and drives less than 7,500 miles a year. Any new insured who fits that profile will qualify for the lowest premium rates and as a result will probably save some money.

Insureds who may not quite match these criteria will probably have to pay a more expensive rate with the end result being business not being written. Company advertisements say “people that switch” not “all people who quote” save that much. That’s the way companies can truthfully make claims that they all have the best premium rates. Because of this risk profiling, it’s extremely important to get car insurance quotes from several different companies. Because you cannot predict with any certainty which company will fit you best based on your risk profile.

Take policy discounts and save

Some providers do not list the complete list of policy discounts in an easy-to-find place, so we took the time to find some of the more common in addition to some of the lesser obvious discounts you could be receiving when you buy car insurance online.

  • Good Student Discount – Performing well in school can get you a discount of up to 25%. Many companies even apply the discount to college students up until you turn 25.
  • Discounts for Responsible Drivers – Accident-free drivers can pay as much as 50% less for Model S insurance compared to accident prone drivers.
  • Defensive Driving Course – Passing a class that teaches defensive driver techniques could earn you a small percentage discount and also improve your driving technique.
  • Government Employees – Federal government employees can earn a discount up to 10% for Model S insurance depending on your insurance coverage provider.
  • Professional Memberships – Having an affiliation with qualifying clubs or civic groups may earn a discount when shopping for insurance coverage.
  • Sign Online – Many insurance coverage companies will give a small break for buying a policy and signing up online.
  • Early Payment Discounts – By making one initial payment as opposed to paying monthly you can actually save on your bill.
  • Theft Prevention Discount – Anti-theft and alarm system equipped vehicles help deter theft and can earn a small discount on your policy.
  • Claim Free – Drivers with accident-free driving histories can save substantially as compared to frequent claim filers.

One last thing about discounts, most discounts do not apply to the entire cost. Most only apply to individual premiums such as physical damage coverage or medical payments. So even though it sounds like having all the discounts means you get insurance for free, you’re out of luck.

Some of the insurance companies that may have many of the previously listed discounts include:

  • Farm Bureau
  • MetLife
  • Progressive
  • AAA
  • American Family
  • State Farm

If you are trying to find cheap car insurance quotes, ask all companies you are considering which credits you are entitled to. All car insurance discounts might not be offered in your state.

Which policy gives me the best coverage?

When choosing the right insurance coverage for your vehicles, there really is no perfect coverage plan. Everyone’s situation is unique.

These are some specific questions might point out whether or not you may require specific advice.

  • Do I benefit by insuring my home with the same company?
  • Are my friends covered when driving my car?
  • Does coverage extend to a rental car in a foreign country?
  • Is my cargo covered for damage or theft?
  • How can I find cheaper teen driver insurance?
  • How can I get my company to pay me more for my totalled car?
  • Am I covered when driving someone else’s vehicle?
  • What is roadside assistance coverage?
  • Is a fancy paint job covered?
  • Does medical payments coverage apply to all occupants?

If you don’t know the answers to these questions but one or more may apply to you then you might want to talk to an insurance agent. If you want to speak to an agent in your area, complete your zip code. It only takes a few minutes and may give you better protection.

Coverages available on your policy

Understanding the coverages of your policy helps when choosing which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording.

Uninsured and underinsured coverage

This protects you and your vehicle when other motorists do not carry enough liability coverage. Covered claims include hospital bills for your injuries and damage to your Tesla Model S.

Due to the fact that many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance provide coverage for bills such as prosthetic devices, chiropractic care and pain medications. They are utilized in addition to your health insurance program or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants as well as getting struck while a pedestrian. PIP is not available in all states but can be used in place of medical payments coverage

Collision coverage protection

Collision coverage pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as hitting a mailbox, sideswiping another vehicle and colliding with another moving vehicle. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. It’s also possible to bump up the deductible to bring the cost down.

Comprehensive coverages

This coverage pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against things like fire damage, damage from a tornado or hurricane and damage from flooding. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Liability car insurance

Liability coverage protects you from damages or injuries you inflict on other people or property. It protects YOU from claims by other people. It does not cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and $25,000 of coverage for damaged property.

Liability insurance covers claims like legal defense fees, funeral expenses, court costs, emergency aid and loss of income. How much liability coverage do you need? That is a decision to put some thought into, but you should buy higher limits if possible.

A fool and his money are soon parted

In this article, we covered a lot of tips how to save on 2017 Tesla Model S insurance. The key concept to understand is the more companies you get premium rates for, the better your comparison will be. You may even discover the most savings is with a smaller regional carrier.

When getting car insurance quotes online, it’s a bad idea to reduce needed coverages to save money. Too many times, consumers will sacrifice collision coverage and learned later that saving that couple of dollars actually costed them tens of thousands. The goal is to get the best coverage possible for the lowest price.

Consumers who switch companies do it for a number of reasons such as high rates after DUI convictions, policy non-renewal, poor customer service and denial of a claim. Regardless of your reason for switching companies, choosing a new insurance company is pretty simple and you could end up saving a buck or two.

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