Tesla Model S Insurance Rates
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UPDATED: Jun 6, 2024
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Estimated insurance rates for a Tesla Model S are $1,848 a year including full coverage. Comprehensive costs around $432, collision costs $892, and liability is $388. A policy with only liability insurance costs around $434 a year, with a high-risk policy costing around $4,036. Teens pay the most at $6,602 a year or more.
Average premium for full coverage: $1,848
Premium estimates for type of coverage:
Full coverage includes $500 physical damage deductibles, 30/60 liability coverage, and includes medical/PIP and uninsured motorist coverage. Rates include averaging for all 50 U.S. states and for different Model S trim levels.
Insurance Price Range by Risk and Coverage
For an average driver, insurance rates for a Tesla Model S go from as low as $434 for liability-only coverage to a much higher rate of $4,036 for a policy for a high-risk driver.
Insurance Price Range by Location
Choosing to live in a large city can make a big difference on the price of insurance. Areas with sparse population are statistically proven to have a lower frequency of comprehensive and collision claims than cities with more traffic congestion.
The price range example below illustrates the effect of geographic area on auto insurance rates.
These rate differences highlight why anyone shopping for car insurance should compare rates quotes for a specific zip code and risk profile, 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.
Additional Charts and Tables
The chart below breaks down estimated Tesla Model S insurance rates for additional coverage choices and driver risks.
- The cheapest rate after discounts is $1,014
- Raising to $1,000 deductibles will save about $298 every year
- The average rate for a 40-year-old good driver using $500 deductibles is $1,848
- Selecting more expensive low deductibles will increase the cost to $2,438
- Drivers with serious driving violations could pay at least $4,036 or more
- An auto insurance policy for full coverage for a 16-year-old driver with full coverage can be $6,602
Car insurance prices for a Tesla Model S also have a wide range based on your driving characteristics, the model of your Model S, and deductibles and policy limits.
An older driver with no driving violations and high deductibles may pay as low as $1,700 every 12 months on average, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, where even good drivers will be charged as much as $6,600 a year. View Rates by Age
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 $1,420 a year in states like Missouri, New Hampshire, and Vermont, or have to pay at least $2,630 on average in Michigan, New York, and Louisiana.
| 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% |
Choosing higher comprehensive and collision insurance deductibles can reduce prices by up to $890 annually, while increasing your policy's liability limits will increase prices. Changing from a 50/100 limit to a 250/500 limit will cost up to $349 extra every 12 months. View Rates by Deductible or Liability Limit
If you have a few violations or tend to cause accidents, you are likely paying at least $2,200 to $3,000 extra annually, depending on your age. High-risk driver insurance is expensive and can cost from 45% to 133% more than the average policy. View High Risk Driver Rates
With such a large range in prices, the best way to figure out your exact price is to compare prices from multiple companies. Every auto insurance company calculates prices differently, so rate quotes will be substantially different from one company to the next.
| 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 More Affordable Tesla Model S Insurance
Finding better rates on insurance for a Tesla Model S consists of being a safe and courteous driver, having above-average credit, refrain from filing small claims, and qualifying for all possible discounts. Take the time to compare rates every year by requesting quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.
Below is a summary of the coverage data covered in the above illustrations.
- You may be able to save up to $240 per year simply by shopping early and online
- Increasing policy deductibles can save around $900 each year
- Teenage drivers are the costliest to insure, with the cost nearing $550 per month if full coverage is included
- Drivers considered higher risk who have multiple accidents or major violations pay on average $2,190 more every year for auto insurance
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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