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 $1,848 annually including full coverage. Comprehensive insurance costs an estimated $432 a year, collision costs $892, and liability costs $388. A liability-only policy costs as little as $434 a year, with high-risk insurance costing $4,036 or more. Teens cost the most to insure at $6,602 a year or more.
Average premium for full coverage: $1,848
Policy rates broken down by type of insurance:
Estimates include $500 policy deductibles, 30/60 liability limits, and includes uninsured/under-insured motorist coverage. Prices are averaged for all 50 U.S. states and Model S trim levels.
Price Range Variability
For the average driver, Tesla Model S insurance rates go from as cheap as $434 for your basic liability-only policy to a high of $4,036 for a driver required to buy high-risk insurance.
Urban vs. Rural Price Range
Your location can make a big difference on the price of auto insurance. More rural locations are shown to have fewer comprehensive and collision claims than cities with more traffic congestion.
The diagram below illustrates how location impacts insurance prices.
The examples above highlight why it is important to compare rates for a targeted area and their own personal driving habits, instead of making a decision based on 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.
More Rate Information
The chart below breaks down estimated Tesla Model S insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $1,014
- Drivers who choose higher $1,000 deductibles will pay approximately $1,550 every year
- The estimated rate for a good driver age 40 who has $500 deductibles is $1,848
- Selecting low $100 deductibles for comprehensive and collision insurance costs an additional $590 annually
- Drivers with serious driving violations could pay up to $4,036 or more
- Policy cost with full coverage for a 16-year-old driver can cost as much as $6,602 a year
Car insurance rates for a Tesla Model S also range considerably based on the model year and trim level, your driving characteristics, and liability limits and deductibles.
Older drivers with no driving violations and high physical damage deductibles may pay as low as $1,700 per year on average, or $142 per month, for full coverage. Rates are much higher for teenagers, 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 points on your driving record or you caused a few accidents, you are likely paying $2,200 to $3,000 extra every year, depending on your age. A high-risk auto insurance policy can cost from 45% to 133% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles could save up to $890 annually, while buying higher liability limits will increase premiums. Changing from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $349 extra every 12 months. View Rates by Deductible or Liability Limit
Your home state makes a big difference in Tesla Model S insurance prices. A 40-year-old driver could pay as low as $1,420 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,630 on average in Louisiana, 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% |
Because rates have so much variability, the best way to figure out which auto insurance is cheapest is to get quotes from multiple companies. Every company calculates rates differently, so rate quotes will be varied between companies.
| 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 Low Cost Tesla Model S Insurance
Finding cheaper rates on insurance for a Tesla Model S not only requires being safe and accident-free, but also having a good credit score, paying for small claims out-of-pocket, and not having any coverage lapses. Spend time shopping around at every policy renewal by obtaining price quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
Below you'll find a review of the data touched on above.
- Insureds who want more liability protection will pay approximately $430 per year to go from a 30/60 limit to higher 250/500 limits
- You may be able to save approximately $240 per year simply by quoting early and online
- Increasing comprehensive and collision deductibles could save up to $900 each year
- Youthful drivers have the highest car insurance rates, with premiums being up to $550 each 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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