Tesla Model S Insurance Rates
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UPDATED: Jun 6, 2024
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Estimated auto insurance rates for a Tesla Model S are $1,848 annually for full coverage insurance. Comprehensive costs an estimated $432, collision insurance costs $892, and liability is $388. A policy with only liability insurance costs around $434 a year, and a high-risk policy costs around $4,036. Teen drivers pay the most at up to $6,602 a year.
Average premium for full coverage: $1,848
Premium estimates broken down by type of coverage:
Price estimates include $500 physical damage deductibles, split liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates include averaging for all 50 states and for all Model S models.
Insurance Price Range by Risk and Coverage
Using a middle-aged driver as an example, insurance rates for a Tesla Model S range from as cheap as $434 for minimum levels of liability insurance to the much higher price of $4,036 for coverage for higher-risk drivers.
Insurance Price Range by Location
Choosing to live in a large city can make a big difference on the price of insurance. More rural locations are statistically proven to have fewer physical damage claims than larger metro areas. The example below illustrates how where you live affects insurance prices.
These rate differences illustrate why everyone should compare rates quotes for a targeted area and their own personal driving habits, instead of making a decision based on price averages.
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 Details
The chart below illustrates average Tesla Model S insurance rates for other coverage scenarios.
- The lowest rate with discounts is $1,014
- Raising to $1,000 deductibles will save approximately $298 each year
- The estimated rate for a 40-year-old good driver who has $500 deductibles is $1,848
- Choosing pricier low deductibles will cost $2,438
- Drivers with multiple violations and an at-fault accident could pay up to $4,036
- An auto insurance policy with full coverage for a 16-year-old driver for full coverage can cost as much as $6,602
Car insurance prices for a Tesla Model S also have a wide range based on the model of your Model S, your risk profile, and liability limits and deductibles.
A more mature driver with no driving violations and high physical damage deductibles may pay as low as $1,700 every 12 months on average, or $142 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they will be charged at least $6,600 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you are probably paying $2,200 to $3,000 extra annually, depending on your age. Tesla Model S insurance for high-risk drivers is expensive and can cost from 45% to 133% more than average. View High Risk Driver Rates
Choosing high deductibles can reduce prices by up to $890 annually, whereas buying more liability protection will increase premiums. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost up to $349 extra every 12 months. View Rates by Deductible or Liability Limit
Where you choose to live also has a big influence on Tesla Model S insurance prices. A middle-age driver might find prices as low as $1,210 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $2,490 on average in Florida, New York, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,670 | -$178 | -9.6% |
| Alaska | $1,416 | -$432 | -23.4% |
| Arizona | $1,534 | -$314 | -17.0% |
| Arkansas | $1,848 | -$0 | 0.0% |
| California | $2,106 | $258 | 14.0% |
| Colorado | $1,764 | -$84 | -4.5% |
| Connecticut | $1,896 | $48 | 2.6% |
| Delaware | $2,088 | $240 | 13.0% |
| Florida | $2,308 | $460 | 24.9% |
| Georgia | $1,708 | -$140 | -7.6% |
| Hawaii | $1,326 | -$522 | -28.2% |
| Idaho | $1,252 | -$596 | -32.3% |
| Illinois | $1,374 | -$474 | -25.6% |
| Indiana | $1,392 | -$456 | -24.7% |
| Iowa | $1,246 | -$602 | -32.6% |
| Kansas | $1,754 | -$94 | -5.1% |
| Kentucky | $2,518 | $670 | 36.3% |
| Louisiana | $2,736 | $888 | 48.1% |
| Maine | $1,140 | -$708 | -38.3% |
| Maryland | $1,526 | -$322 | -17.4% |
| Massachusetts | $1,474 | -$374 | -20.2% |
| Michigan | $3,206 | $1,358 | 73.5% |
| Minnesota | $1,546 | -$302 | -16.3% |
| Mississippi | $2,212 | $364 | 19.7% |
| Missouri | $1,640 | -$208 | -11.3% |
| Montana | $1,984 | $136 | 7.4% |
| Nebraska | $1,456 | -$392 | -21.2% |
| Nevada | $2,216 | $368 | 19.9% |
| New Hampshire | $1,332 | -$516 | -27.9% |
| New Jersey | $2,064 | $216 | 11.7% |
| New Mexico | $1,634 | -$214 | -11.6% |
| New York | $1,944 | $96 | 5.2% |
| North Carolina | $1,064 | -$784 | -42.4% |
| North Dakota | $1,512 | -$336 | -18.2% |
| Ohio | $1,274 | -$574 | -31.1% |
| Oklahoma | $1,896 | $48 | 2.6% |
| Oregon | $1,692 | -$156 | -8.4% |
| Pennsylvania | $1,760 | -$88 | -4.8% |
| Rhode Island | $2,464 | $616 | 33.3% |
| South Carolina | $1,674 | -$174 | -9.4% |
| South Dakota | $1,558 | -$290 | -15.7% |
| Tennessee | $1,614 | -$234 | -12.7% |
| Texas | $2,226 | $378 | 20.5% |
| Utah | $1,366 | -$482 | -26.1% |
| Vermont | $1,262 | -$586 | -31.7% |
| Virginia | $1,106 | -$742 | -40.2% |
| Washington | $1,424 | -$424 | -22.9% |
| West Virginia | $1,696 | -$152 | -8.2% |
| Wisconsin | $1,278 | -$570 | -30.8% |
| Wyoming | $1,644 | -$204 | -11.0% |
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Tesla Model S | $554 | $1,140 | $332 | $2,162 |
| 2023 Tesla Model S | $532 | $1,130 | $338 | $2,136 |
| 2022 Tesla Model S | $514 | $1,104 | $354 | $2,108 |
| 2021 Tesla Model S | $496 | $1,058 | $364 | $2,054 |
| 2020 Tesla Model S | $470 | $1,020 | $376 | $2,002 |
| 2019 Tesla Model S | $452 | $946 | $384 | $1,918 |
| 2018 Tesla Model S | $432 | $892 | $388 | $1,848 |
| 2017 Tesla Model S | $414 | $800 | $390 | $1,740 |
| 2016 Tesla Model S | $388 | $736 | $390 | $1,650 |
| 2014 Tesla Model S | $366 | $644 | $402 | $1,548 |
| 2013 Tesla Model S | $338 | $598 | $402 | $1,474 |
| 2012 Tesla Model S | $330 | $542 | $406 | $1,414 |
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 Cheaper Tesla Model S Insurance
Finding better rates on insurance for a Tesla Model S consists of being a safe and courteous driver, having a good credit score, paying for small claims out-of-pocket, and possibly higher deductibles. Take the time to comparison shop at least once a year by getting rate quotes from direct insurance companies, and also from your local independent and exclusive agents.
Below is a condensed summary of the primary concepts that were touched on in the above illustrations.
- It is possible to save approximately $240 per year just by quoting online well ahead of the renewal date
- Drivers considered higher risk with multiple at-fault accidents may pay on average $2,190 more annually for auto insurance
- Increasing policy deductibles could save up to $900 each year
- Teenage drivers have the highest car insurance prices, with premiums being up to $550 per month if comprehensive and collision insurance is included
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,602 |
| 20 | $4,298 |
| 30 | $1,954 |
| 40 | $1,848 |
| 50 | $1,684 |
| 60 | $1,656 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,438 |
| $250 | $2,162 |
| $500 | $1,848 |
| $1,000 | $1,550 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,848 |
| 50/100 | $1,926 |
| 100/300 | $2,023 |
| 250/500 | $2,275 |
| 100 CSL | $1,964 |
| 300 CSL | $2,178 |
| 500 CSL | $2,333 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $9,526 |
| 20 | $6,856 |
| 30 | $4,154 |
| 40 | $4,036 |
| 50 | $3,846 |
| 60 | $3,814 |
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 | $103 |
| Multi-vehicle | $98 |
| Homeowner | $25 |
| 5-yr Accident Free | $152 |
| 5-yr Claim Free | $124 |
| Paid in Full/EFT | $96 |
| Advance Quote | $99 |
| Online Quote | $137 |
| Total Discounts | $834 |
Discounts are estimated and may not be available from every company or in every state.
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