Tesla Model S Insurance Rates

Enter your zip code below to view companies that have cheap auto insurance rates.

Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

Michelle Robbins

Licensed Insurance Agent

Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...

Licensed Insurance Agent

UPDATED: Jun 6, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

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 each year, collision costs $892, and liability is $388. Buying just liability costs around $434 a year, with insurance for high-risk drivers costing $4,036 or more. 16-year-old drivers pay the highest rates at $6,602 a year or more.

Average premium for full coverage: $1,848

Price estimates broken down by individual coverage:

Comprehensive $432
Collision $892
Liability $388

Estimates include $500 deductible amounts, minimum liability limits, and includes both medical and uninsured motorist insurance. Estimates are averaged for all 50 states and Model S models.

Price Range from Low to High

Using a middle-aged driver as an example, Tesla Model S insurance prices go from as low as $434 for minimum levels of liability insurance to a high rate of $4,036 for high-risk insurance.

Liability Only $434
Full Coverage $1,848
High Risk $4,036

Geographic Price Range

Choosing to live in a large city can make a big difference on the price of insurance. More rural locations have a lower frequency of physical damage claims than congested cities.

The graphic below illustrates how where you live affects insurance prices.

Rural Areas $1,386
Small Cities $1,940
Large Cities $2,495

The ranges above illustrate why all drivers should compare rates quotes for a targeted area and risk profile, instead of making a decision based on rate 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 estimated Tesla Model S insurance rates for other coverage scenarios.

  • The best full coverage rate is $1,014
  • Raising to $1,000 deductibles will save approximately $298 each year
  • The average rate for the average middle-age driver who has $500 deductibles is $1,848
  • Buying low deductibles will cost an extra $590 annually
  • Drivers with multiple tickets or accidents could pay up to $4,036 or more
  • The price for full coverage for a 16-year-old driver can cost as much as $6,602

View Chart as Image

Tesla Model S insurance cost comparison chart
Column chart showing full coverage Tesla Model S insurance prices range from $1,014 to $6,602

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

More mature drivers with no violations or accidents and high deductibles may pay as low as $1,700 every 12 months on average for full coverage. Prices are highest for teenage drivers, where even good drivers should be prepared to pay at least $6,600 a year. View Rates by Age

The state you live in 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 at least $2,490 on average in Florida, New York, and Michigan.

Tesla Model S Insurance Rates by State
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%

View Chart as Image

Tesla Model S insurance rates by U.S. city

Opting for high physical damage deductibles can reduce prices by up to $890 annually, whereas increasing liability limits will increase premiums. Switching from a 50/100 limit to a 250/500 limit will increase prices by as much as $349 more each year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you are probably paying $2,200 to $3,000 additional each year, depending on your age. Insurance for high-risk drivers is expensive and can cost from 45% to 133% more than the average rate. View High Risk Driver Rates

Since prices can be so different, the only way to figure out which car insurance is cheapest is to do a rate comparison from multiple companies. Every auto insurance company utilizes a different rate formula, and prices may be quite different from one company to the next.

Tesla Model S Insurance Rates by Model Year
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 Find Low Cost Tesla Model S Insurance

Getting lower rates on insurance for a Tesla Model S consists of having a good driving record, having a good credit history, not filing small claims, and maximizing policy discounts. Take the time to comparison shop every couple of years by getting quotes from direct insurance companies like Progressive and GEICO, and also from several local insurance agents.

The next list is a review of the material that was touched on in the above illustrations.

  • Insureds who want increased levels of liability coverage will pay around $430 annually to raise from a low limit to 250/500 limits
  • Drivers age 20 and younger are expensive to insure, as much as $550 a month including comprehensive and collision insurance
  • Drivers considered higher risk who have several accidents or serious violations pay on average $2,190 more annually to buy Tesla Model S insurance
  • Increasing physical damage deductibles can save around $900 each year

Rates by Driver Age

Tesla Model S Insurance 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

Tesla Model S Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,438
$250 $2,162
$500 $1,848
$1,000 $1,550

Full coverage, driver age 40

Rates by Liability Limit

Tesla Model S Insurance Rates with Different Liability Limits
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

Tesla Model S Insurance 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.

SR-22 Surcharge $270

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
Rate after discounts $1,014

Discounts are estimated and may not be available from every company or in every state.

Compare Rates and Save

Find companies with the cheapest rates in your area

Free Auto Insurance Comparison

Enter your zip code below to view companies that have cheap auto insurance rates.

secured lock Secured with SHA-256 Encryption

You May Also Enjoy These Articles