Tesla Model S Insurance Rates
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UPDATED: Jun 6, 2024
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Estimated insurance prices for a Tesla Model S are $1,918 every 12 months for full coverage insurance. Comprehensive insurance costs around $452, collision insurance costs $946, and liability insurance costs $384. Liability-only coverage costs as little as $432 a year, and high-risk coverage costs $4,194 or more. Teenage drivers pay the most at up to $6,828 a year.
Average premium for full coverage: $1,918
Premium estimates for type of coverage:
These estimates include $500 physical damage insurance deductibles, split liability limits of 30/60, and includes uninsured motorist and medical coverage. Rates include averaging for all 50 states and for all Model S models.
Insurance Price Range by Risk and Coverage
For the average driver, insurance rates for a Tesla Model S range from the cheapest price of $432 for the bare minimum liability coverage to the much higher price of $4,194 for coverage for higher-risk drivers.
Insurance Price Range by Location
Your location has a significant impact on car insurance rates. Areas with sparse population are statistically proven to have more infrequent physical damage claims than densely populated cities. The example below illustrates how location impacts auto insurance rates.
These rate differences illustrate why everyone should compare rates for a specific zip code and their own driving history, rather than relying on 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 Rate Information
The chart below illustrates average Tesla Model S insurance rates for additional coverage choices and driver risks.
- The best discount rate is $1,047
- Drivers who choose higher $1,000 deductibles will pay about $318 each year
- The average price for a 40-year-old good driver using $500 deductibles is $1,918
- Using pricier low deductibles for comprehensive and collision insurance costs an extra $622 a year
- High risk drivers who are prone to accidents and violations could pay at least $4,194
- An auto insurance policy to insure a teen driver for full coverage can be $6,828 a year
Insurance prices for a Tesla Model S also have a wide range based on physical damage deductibles and liability limits, your risk profile, and the trim level and model year.
Using high physical damage deductibles could save up to $940 each year, whereas buying more liability protection will increase prices. Switching from a 50/100 liability limit to a 250/500 limit will cost up to $345 more per year. View Rates by Deductible or Liability Limit
A more mature driver with a clean driving record and higher deductibles could pay as little as $1,800 per year on average, or $150 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers can expect to pay as much as $6,800 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you are probably paying at least $2,300 to $3,100 extra annually, depending on your age. Tesla Model S insurance for high-risk drivers can cost anywhere from 45% to 134% more than a normal policy. View High Risk Driver Rates
Where you choose to live makes a big difference in Tesla Model S insurance rates. A 40-year-old driver could pay as low as $1,250 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,580 on average in Michigan, New York, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,732 | -$186 | -9.7% |
| Alaska | $1,470 | -$448 | -23.4% |
| Arizona | $1,590 | -$328 | -17.1% |
| Arkansas | $1,918 | -$0 | 0.0% |
| California | $2,186 | $268 | 14.0% |
| Colorado | $1,828 | -$90 | -4.7% |
| Connecticut | $1,968 | $50 | 2.6% |
| Delaware | $2,168 | $250 | 13.0% |
| Florida | $2,396 | $478 | 24.9% |
| Georgia | $1,770 | -$148 | -7.7% |
| Hawaii | $1,378 | -$540 | -28.2% |
| Idaho | $1,300 | -$618 | -32.2% |
| Illinois | $1,428 | -$490 | -25.5% |
| Indiana | $1,446 | -$472 | -24.6% |
| Iowa | $1,294 | -$624 | -32.5% |
| Kansas | $1,820 | -$98 | -5.1% |
| Kentucky | $2,616 | $698 | 36.4% |
| Louisiana | $2,838 | $920 | 48.0% |
| Maine | $1,182 | -$736 | -38.4% |
| Maryland | $1,582 | -$336 | -17.5% |
| Massachusetts | $1,528 | -$390 | -20.3% |
| Michigan | $3,328 | $1,410 | 73.5% |
| Minnesota | $1,606 | -$312 | -16.3% |
| Mississippi | $2,296 | $378 | 19.7% |
| Missouri | $1,700 | -$218 | -11.4% |
| Montana | $2,058 | $140 | 7.3% |
| Nebraska | $1,510 | -$408 | -21.3% |
| Nevada | $2,298 | $380 | 19.8% |
| New Hampshire | $1,382 | -$536 | -27.9% |
| New Jersey | $2,142 | $224 | 11.7% |
| New Mexico | $1,696 | -$222 | -11.6% |
| New York | $2,016 | $98 | 5.1% |
| North Carolina | $1,104 | -$814 | -42.4% |
| North Dakota | $1,572 | -$346 | -18.0% |
| Ohio | $1,322 | -$596 | -31.1% |
| Oklahoma | $1,966 | $48 | 2.5% |
| Oregon | $1,758 | -$160 | -8.3% |
| Pennsylvania | $1,826 | -$92 | -4.8% |
| Rhode Island | $2,556 | $638 | 33.3% |
| South Carolina | $1,738 | -$180 | -9.4% |
| South Dakota | $1,618 | -$300 | -15.6% |
| Tennessee | $1,676 | -$242 | -12.6% |
| Texas | $2,310 | $392 | 20.4% |
| Utah | $1,418 | -$500 | -26.1% |
| Vermont | $1,310 | -$608 | -31.7% |
| Virginia | $1,148 | -$770 | -40.1% |
| Washington | $1,478 | -$440 | -22.9% |
| West Virginia | $1,758 | -$160 | -8.3% |
| Wisconsin | $1,326 | -$592 | -30.9% |
| Wyoming | $1,708 | -$210 | -10.9% |
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Tesla Model S | $582 | $1,186 | $316 | $2,220 |
| 2023 Tesla Model S | $554 | $1,140 | $332 | $2,162 |
| 2022 Tesla Model S | $532 | $1,130 | $338 | $2,136 |
| 2021 Tesla Model S | $514 | $1,104 | $354 | $2,108 |
| 2020 Tesla Model S | $496 | $1,058 | $364 | $2,054 |
| 2019 Tesla Model S | $470 | $1,020 | $376 | $2,002 |
| 2018 Tesla Model S | $452 | $946 | $384 | $1,918 |
| 2017 Tesla Model S | $432 | $892 | $388 | $1,848 |
| 2016 Tesla Model S | $414 | $800 | $390 | $1,740 |
| 2014 Tesla Model S | $374 | $690 | $394 | $1,594 |
| 2013 Tesla Model S | $366 | $644 | $402 | $1,548 |
| 2012 Tesla Model S | $338 | $598 | $402 | $1,474 |
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 Shop for Cheap Tesla Model S Insurance
Finding better rates on Tesla Model S insurance not only requires being a low-risk driver, but also having good credit, paying for small claims out-of-pocket, and dropping full coverage on older vehicles. Spend time shopping around at least once a year by getting quotes from direct insurance companies, and also from your local independent and exclusive agents.
The items below are a brief summary of the primary concepts that were touched on above.
- It is possible to save up to $250 per year just by quoting online well ahead of the renewal date
- High-risk drivers that tend to have accidents or serious violations may pay on average $2,280 more every year to insure their Model S
- Increasing policy deductibles could save as much as $950 each year
- Teen drivers pay higher prices, with premiums being up to $569 per month if they have full coverage
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,828 |
| 20 | $4,466 |
| 30 | $2,030 |
| 40 | $1,918 |
| 50 | $1,746 |
| 60 | $1,716 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,540 |
| $250 | $2,248 |
| $500 | $1,918 |
| $1,000 | $1,600 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,918 |
| 50/100 | $1,995 |
| 100/300 | $2,091 |
| 250/500 | $2,340 |
| 100 CSL | $2,033 |
| 300 CSL | $2,244 |
| 500 CSL | $2,398 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,860 |
| 20 | $7,126 |
| 30 | $4,318 |
| 40 | $4,194 |
| 50 | $3,996 |
| 60 | $3,964 |
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 | $107 |
| Multi-vehicle | $101 |
| Homeowner | $26 |
| 5-yr Accident Free | $160 |
| 5-yr Claim Free | $129 |
| Paid in Full/EFT | $101 |
| Advance Quote | $104 |
| Online Quote | $143 |
| Total Discounts | $871 |
Discounts are estimated and may not be available from every company or in every state.
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