Tesla Model S Insurance Rates
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UPDATED: Jun 6, 2024
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The average auto insurance rates for a Tesla Model S are $1,918 annually for full coverage insurance. Comprehensive insurance costs an estimated $452 a year, collision insurance costs $946, and liability coverage costs $384. Buying just liability costs as little as $432 a year, and insurance for high-risk drivers costs $4,194 or more. Teens cost the most to insure at up to $6,828 a year.
Average premium for full coverage: $1,918
Policy rates broken down by type of insurance:
Prices include $500 physical damage insurance deductibles, 30/60 liability limits, and includes UM/UIM and medical coverage. Prices are averaged for all 50 states and Model S trim levels.
Price Range Variability
For the normal driver, Tesla Model S insurance rates range from as cheap as $432 for a discount liability-only rate to a high of $4,194 for a driver required to buy high-risk insurance.
Urban vs. Rural Price Range
Your location has a large influence on the price of insurance. More rural locations are shown to have fewer physical damage claims than cities with more traffic congestion. The diagram below illustrates how geographic area affects insurance prices.
The examples above illustrate why it is important to compare rates for a targeted area and their own personal driving habits, rather than using averaged prices.
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.
Rates by State, City, and Model
The chart below illustrates average Tesla Model S insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $1,047
- Drivers who choose higher $1,000 deductibles will pay approximately $1,600 each year
- The estimated rate for a good driver age 40 who has $500 deductibles is $1,918
- Selecting low $100 deductibles for comprehensive and collision insurance costs an additional $622 each year
- High-risk insureds with serious driving violations could pay up to $4,194
- Policy cost with full coverage for a teenage driver can cost as much as $6,828 a year
Insurance rates for a Tesla Model S also range considerably based on the model year and trim level, your risk profile, and liability limits and deductibles.
Older drivers with a clean driving record and high physical damage deductibles may only pay around $1,800 per year on average, or $150 per month, for full coverage. Rates are much higher for teenagers, where even without any violations or accidents they can expect to pay at least $6,800 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you are probably paying $2,300 to $3,100 extra every year, depending on your age. A high-risk auto insurance policy can cost around 45% to 134% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles could save up to $940 a year, while buying higher liability limits will increase premiums. Switching from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $345 more per year. View Rates by Deductible or Liability Limit
Your home state 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 North Carolina, Wisconsin, and Vermont, or have to pay at least $2,580 on average in Florida, New York, and Michigan.
| 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 Buy the Right Tesla Model S Insurance
Finding cheaper rates on auto insurance not only requires being a low-risk driver, but also having a good credit history, being claim-free, and deciding if full coverage is necessary. Invest the time to compare rates at every policy renewal by quoting rates from direct insurance companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.
The items below are a quick rundown of the data presented in the illustrations above.
- Consumers who want more liability coverage will pay approximately $420 annually to go from a 30/60 limit to higher 250/500 limits
- It is possible to save approximately $250 per year just by quoting early and online
- Increasing comprehensive and collision deductibles could save up to $950 each year
- Teen drivers are charged the highest rates, possibly costing $569 each month including comprehensive and collision insurance
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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