Tesla Model S Insurance Rates

U.S. average insurance prices for a Tesla Model S are $1,740 every 12 months for full coverage. Comprehensive costs an estimated $414, collision insurance costs $800, and liability coverage costs around $390. Liability-only insurance costs as low as $438 a year, and high-risk driver insurance costs around $3,788. Teenage drivers pay the highest rates at up to $6,234 a year.

Average premium for full coverage: $1,740

Price estimates broken down by individual coverage:

Includes $500 comprehensive and collision deductibles, 30/60 liability coverage, and includes medical and UM/UIM coverage. Estimates are averaged for all 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 insurance rates. More rural locations have more infrequent accident claims than densely populated cities. The price range example below illustrates the effect of geographic area on insurance prices.

The ranges above show why anyone shopping for car insurance should compare prices for a targeted area and their own driving history, rather than using average rates.

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

More Rate Details

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

• The best discount rate is $965
• Using higher $1,000 deductibles will save approximately $274 a year
• The average price for the average middle-age driver who has $500 deductibles is $1,740
• Using more expensive low deductibles for physical damage coverage increases the price to $2,278
• Higher-risk drivers who are prone to accidents and violations could pay up to $3,788
• The price to insure a teenage driver with full coverage can cost as much as $6,234 or more

View Chart as Image

Car insurance prices for a Tesla Model S are also quite variable based on deductibles and policy limits, your driver profile, and the model year and trim level.

Using high physical damage deductibles could cut prices by as much as $820 a year, while increasing your policy's liability limits will increase premiums. Going from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $351 extra every 12 months. View Rates by Deductible or Liability Limit

An older driver with no driving violations and higher deductibles may only pay around $1,600 a year for full coverage. Prices are much higher for teenage drivers, since even excellent drivers will be charged at least $6,200 a year. View Rates by Age

If you have some driving violations or you were responsible for an accident, you could be paying $2,100 to $2,800 extra each year, depending on your age. High-risk driver insurance can be around 45% to 135% more than a normal policy. View High Risk Driver Rates

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 $1,150 a year in states like Iowa, Maine, and Idaho, or be forced to pay as much as $2,480 on average in New York, Louisiana, and Michigan.

View Chart as Image

How to Shop for the Cheapest Tesla Model S Insurance

Getting lower rates on auto insurance requires avoiding accidents and violations, maintaining a good credit score, eliminating unnecessary coverage, and possibly higher deductibles. Take the time to compare rates every year by getting rate quotes from direct carriers like Progressive, GEICO, and Esurance, and also from several local insurance agents.

The list below is a recap of the coverage data covered in the above illustrations.

• Drivers can save approximately $220 per year just by shopping early and online
• Increasing physical damage deductibles could save as much as $800 each year
• Teenagers have the highest car insurance prices, with premiums as much as $520 a month if the policy includes full coverage
• Drivers that have major violations or accidents pay on average $2,050 more annually for car insurance