Tesla Model S Insurance Rates

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UPDATED: Jun 6, 2024

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U.S. average auto insurance rates for a Tesla Model S are $1,848 annually for full coverage insurance. Comprehensive insurance costs an estimated $432 each year, collision insurance costs $892, and liability coverage is estimated at $388. Buying just liability costs approximately $434 a year, and insurance for high-risk drivers 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:

Comprehensive $432
Collision $892
Liability $388

These estimates include $500 policy deductibles, liability coverage up to 30/60, and includes medical and UM/UIM coverage. Estimates are averaged for all 50 states and Model S models.

Price Range from Low to High

Using a 40-year-old driver as an example, Tesla Model S insurance prices range from as cheap as $434 for just liability insurance to a high rate of $4,036 for a high-risk driver policy.

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

Geographic Price Range

Living in a larger city has a large influence on the price of insurance. More rural locations have fewer physical damage claims than densely populated cities. The graphic below illustrates how rural and urban location affects insurance prices.

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

The ranges above illustrate why all drivers should get quotes for a targeted area and their own personal driving habits, rather than using average rates.

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.

More Rate Details

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

  • The best discount rate is $1,014
  • Choosing higher $1,000 deductibles can save approximately $298 each year
  • The estimated rate for the average middle-age driver who has $500 deductibles is $1,848
  • Using low deductibles for comp and collision coverage costs an additional $590 each year
  • Drivers who are prone to accidents and violations could pay up to $4,036
  • The price with full coverage for a teenage driver can cost as much as $6,602 each year

View Chart as Image

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

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

More mature drivers with no violations or accidents and high physical damage deductibles may only pay around $1,700 annually on average for full coverage. Prices are much higher for teenage drivers, where even without any violations or accidents they should be prepared to pay at least $6,600 a year. View Rates by Age

If you have some driving violations or you caused a few accidents, you are probably paying $2,200 to $3,000 additional each year, depending on your age. Insurance for high-risk drivers ranges around 45% to 133% more than a normal policy. View High Risk Driver Rates

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

The state you live in plays a big part in determining prices for Tesla Model S insurance rates. A good driver about age 40 could pay 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.

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
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 Buy Cheap Tesla Model S Insurance

Getting lower rates on auto insurance takes avoiding accidents and claims, having good credit, not filing small claims, and possibly raising deductibles. Set aside time to shop around every time your policy renews by getting quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.

The points below are a brief summary of the information raised in the charts and tables above.

  • It is possible to save approximately $240 per year just by quoting online in advance
  • Drivers under the age of 20 are expensive to insure, as much as $550 a month if they have full coverage
  • Increasing physical damage deductibles could save up to $900 each year
  • Drivers that tend to have accidents or serious violations may pay on average $2,190 more annually to insure a Tesla Model S
  • Consumers who want increased liability limits will pay an extra $430 annually to raise limits from a low limit to higher 250/500 limits

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.

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