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 with full coverage. Comprehensive insurance costs on average $432 each year, collision insurance costs $892, and liability is estimated at $388. Liability-only insurance costs approximately $434 a year, and high-risk driver insurance costs $4,036 or more. Teens pay the highest rates at up to $6,602 a year.
Average premium for full coverage: $1,848
Price estimates by individual coverage:
Full coverage includes $500 deductibles, bodily injury liability limits of 30/60, and includes uninsured motorist and medical coverage. Estimates are averaged for all U.S. states and Model S models.
Price Range from Low to High
For an average driver, Tesla Model S insurance prices range from as cheap as $434 for the bare minimum liability coverage to a high rate of $4,036 for a driver who has had serious violations or accidents.
Geographic Price Range
Living in a larger city can make a big difference on auto insurance rates. Rural areas have fewer collision claims than cities with more traffic congestion. The graphic below illustrates the effect of geographic area on car insurance rates.
The ranges above demonstrate why all drivers should get quotes based on a specific location 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.
Additional Rate Information
The chart below details average Tesla Model S insurance rates for different risk profiles and scenarios.
- The cheapest rate after discounts is $1,014
- Choosing higher $1,000 deductibles can save around $298 annually
- The estimated rate for the average middle-age driver with $500 deductibles is $1,848
- Selecting low deductibles for comp and collision coverage costs an additional $590 annually
- Higher-risk drivers with serious driving violations could pay upwards of $4,036
- The price with full coverage for a 16-year-old driver may cost $6,602 each year
Car insurance prices for a Tesla Model S are also quite variable based on the trim level and model year, your driving record, and policy deductibles and limits.
More mature drivers with no driving violations and high physical damage deductibles may pay as low as $1,700 annually on average for full coverage. Prices are much higher for teenage drivers, where even without any violations or accidents they will be charged upwards of $6,600 a year. View Rates by Age
If you have some driving violations or you caused a few accidents, you may be forking out at a minimum $2,200 to $3,000 extra each year, depending on your age. Insurance for high-risk drivers ranges from 45% to 133% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles can save as much as $890 annually, whereas increasing liability limits will cost you more. Moving from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $349 extra every 12 months. View Rates by Deductible or Liability Limit
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 New Hampshire, Ohio, and Utah, or have to pay at least $2,490 on average in Florida, Michigan, and New York.
| 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% |
| 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 More Affordable Tesla Model S Insurance
Getting lower rates on insurance for a Tesla Model S takes not taking risks behind the wheel, having a good credit score, avoid buying unnecessary coverage, and possibly raising deductibles. Take the time to compare rates every other policy renewal by getting quotes from direct companies like GEICO, Progressive, and Esurance, and also from local independent and exclusive agents.
The following is a summary of the ideas that were covered in the above illustrations.
- Teens are expensive to insure, costing up to $550 a month if comprehensive and collision insurance is included
- Drivers considered higher risk who have multiple accidents or major violations pay an average of $2,190 more each year for Model S insurance
- Increasing physical damage deductibles could save up to $900 each year
- You may be able to save as much as $240 per year just by quoting online in advance
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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