Tesla Model S Insurance Rates

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UPDATED: Jun 6, 2024

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U.S. average insurance prices for a Tesla Model S are $1,848 every 12 months with full coverage. Comprehensive insurance costs an estimated $432, collision costs $892, and liability is estimated at $388. Liability-only coverage costs approximately $434 a year, with high-risk coverage costing $4,036 or more. Teen 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

Prices include $500 policy deductibles, 30/60 bodily injury liability limits, and includes both medical and UM/UIM coverage. Estimates are averaged for all U.S. states and for different Model S trim levels.

Price Range from Low to High

For a driver in their 40's, Tesla Model S insurance prices go from the cheapest price of $434 for basic liability insurance to a much higher rate of $4,036 for a driver who requires high-risk insurance.

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

Geographic Price Range

Living in a larger city can make a big difference on car insurance rates. More rural locations have more infrequent collision claims than larger metro areas.

The price range example below illustrates how location helps determine insurance prices.

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

The ranges above demonstrate why anyone shopping for car insurance should get quotes for a targeted area and their own driving history, 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.

Rate Comparisons

The chart below details estimated Tesla Model S insurance rates for other coverage scenarios.

  • The lowest rate with discounts is $1,014
  • Choosing higher $1,000 deductibles can save approximately $298 annually
  • The average price for the average middle-age driver who has $500 deductibles is $1,848
  • Choosing more expensive low deductibles for comp and collision coverage costs an extra $590 annually
  • Higher-risk drivers with multiple violations and an at-fault accident could pay up to $4,036 or more
  • The price to insure a 16-year-old driver with full coverage can cost as much as $6,602 each year

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

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

Choosing high deductibles can save as much as $890 annually, while increasing your policy's liability limits will increase premiums. Moving from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $349 extra every year. View Rates by Deductible or Liability Limit

An older driver with a good driving record and higher deductibles may pay as low as $1,700 annually on average for full coverage. Prices are highest for teenage drivers, since even excellent drivers will have to pay at least $6,600 a year. View Rates by Age

If you have some driving violations or you were responsible for an accident, you may be forking out $2,200 to $3,000 in extra premium each year, depending on your age. High-risk driver insurance ranges from 45% to 133% more than average. View High Risk Driver Rates

The state you live in plays a big part in determining prices for Tesla Model S insurance prices. A good driver about age 40 could pay as low as $1,330 a year in states like Utah, Ohio, and New Hampshire, or as much as $2,490 on average in New York, Michigan, and Florida.

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

Since prices can be so different, the best way to find out which car insurance is cheapest is to compare prices from multiple companies. Each auto insurer uses a different rate calculation, and quoted prices may be quite different.

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 Shop for the Right Tesla Model S Insurance

Getting lower rates on insurance for a Tesla Model S takes being safe and accident-free, having a good credit score, avoid buying unnecessary coverage, and qualifying for all possible discounts. Invest time comparing rates at every other renewal by requesting quotes from direct companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.

Below you'll find a quick rundown of the concepts that were covered in the charts and tables above.

  • Drivers considered higher risk with reckless driving or DUI convictions may pay on average $2,190 more annually than a low-risk driver
  • Youthful drivers are the costliest to insure, costing up to $550 a month if comprehensive and collision insurance is included
  • You may be able to save approximately $240 per year simply by shopping early and online
  • Increasing physical damage deductibles could save as much as $900 each year
  • You may be able to save approximately $240 per year simply by shopping early and online

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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