Tesla Model S Insurance Rates

U.S. average insurance rates for a Tesla Model S are $1,848 a year for full coverage insurance. Comprehensive insurance costs an estimated $432, collision insurance costs $892, and liability coverage costs around $388. Liability-only coverage costs as low as $434 a year, and high-risk coverage costs $4,036 or more. Teenage drivers pay the highest rates at up to $6,602 a year.

Average premium for full coverage: $1,848

Price estimates broken down by individual coverage:

Includes $500 policy deductibles, split liability limits of 30/60, and includes both medical and uninsured motorist insurance. Estimates are averaged for all 50 states and for different Model S trim levels.

Price Range from Low to High

Geographic Price Range

Where you live has a large influence on the price of insurance. More rural locations have lower incidents of physical damage claims than densely populated cities. The price range example below illustrates how where you live affects insurance prices.

The ranges above illustrate why anyone shopping for car insurance should compare prices for a targeted area, rather than using average rates.

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

Additional Rate Details

The chart below illustrates average Tesla Model S insurance rates for other coverage scenarios.

• The best discount rate is $1,014
• Using higher $1,000 deductibles will save approximately $298 each year
• The estimated price for the average middle-age driver who has $500 deductibles is $1,848
• Using more expensive low deductibles for physical damage coverage will cost an additional $590 each year
• Higher-risk drivers who are prone to accidents and violations could pay up to $4,036
• The price that insures a teenage driver with full coverage can cost as much as $6,602 or more

View Chart as Image

Auto insurance prices for a Tesla Model S are also quite variable based on the model year and trim level, your age and driving record, and liability limits and deductibles.

If you have some driving violations or you caused an accident, you are probably paying $2,200 to $3,000 in extra premium each year, depending on your age. High-risk driver insurance can be around 45% to 133% more than a normal policy. View High Risk Driver Rates

An older driver with a good driving record and higher comprehensive and collision deductibles may only pay around $1,700 a year for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records will have to pay at least $6,600 a year. View Rates by Age

The state you live in has a huge impact on Tesla Model S insurance rates. A driver around age 40 might see prices as low as $1,210 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,490 on average in Florida, New York, and Michigan.

View Chart as Image

Using high physical damage deductibles could cut prices by as much as $890 a year, while increasing your policy's liability limits will increase premiums. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $349 extra every year. View Rates by Deductible or Liability Limit

How to Find the Cheapest Tesla Model S Insurance

Getting lower rates on auto insurance requires being safe and accident-free, maintaining a good credit score, not filing small claims, and consideration of higher deductibles. Compare prices at least once a year by requesting quotes from direct insurance companies, and also from local insurance agencies.

Below you'll find a recap of the primary concepts that were touched on in the above illustrations.

• It is possible to save approximately $240 per year just by shopping early and online
• Drivers that have major violations or accidents may have to pay on average $2,190 more annually than a low-risk driver
• Increasing physical damage deductibles can save approximately $900 each year
• Youthful drivers are the costliest to insure, as much as $550 a month if the policy includes full coverage