Tesla Model S Insurance Rates

Estimated insurance rates for a Tesla Model S are $1,918 a year for full coverage. Comprehensive costs around $452, collision insurance costs $946, and liability is $384. A policy with only liability insurance costs around $432 a year, and a high-risk policy costs around $4,194. Teen drivers pay the most at up to $6,828 a year.

Average premium for full coverage: $1,918

Premium estimates for type of coverage:

Prices include $500 policy deductibles, split liability limits of 30/60, and includes additional medical/uninsured motorist coverage. Rates include averaging for all states and for different Model S trim levels.

Insurance Price Range by Risk and Coverage

Insurance Price Range by Location

Choosing to live in a large city can have significant affects on auto insurance rates. Areas with sparse population are statistically proven to have a lower frequency of accident claims than larger metro areas. The price range example below illustrates how location helps determine auto insurance rates.

These rate differences show why anyone shopping for car insurance should compare rates quotes for a specific zip code and risk profile, instead of using price averages.

Use the form below to get customized rates for your location.

Additional Rate Analysis

The chart below shows average Tesla Model S insurance rates for additional coverage choices and driver risks.

• The lowest rate with discounts is $1,047
• Raising to $1,000 deductibles will save about $318 a year
• The average rate for a 40-year-old good driver using $500 deductibles is $1,918
• Choosing more expensive low deductibles will increase the cost to $2,540
• At-risk drivers with multiple violations and an at-fault accident could pay at least $4,194
• An auto insurance policy for full coverage for a teen driver with full coverage can be $6,828

View Chart as Image

Car insurance prices for a Tesla Model S also have a wide range based on your driving characteristics, the trim level of your Model S, and deductibles and policy limits.

An older driver with no driving violations and high deductibles may pay as little as $1,800 every 12 months on average, or $150 per month, for full coverage. Prices are highest for drivers in their teens, where even good drivers will be charged as much as $6,800 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 $1,260 a year in states like Idaho, Maine, and Iowa, or as much as $2,730 on average in Michigan, Louisiana, and New York.

View Chart as Image

Choosing high deductibles can reduce prices by up to $940 every year, while increasing your policy's liability limits will increase prices. Going from a 50/100 limit to a 250/500 limit will cost up to $345 extra every 12 months. View Rates by Deductible or Liability Limit

If you have a few violations or tend to cause accidents, you could be paying at least $2,300 to $3,100 extra annually, depending on your age. High-risk driver insurance is expensive and can cost as much as 45% to 134% more than average. View High Risk Driver Rates

How to Find the Right Tesla Model S Insurance

Finding better rates on car insurance consists of being a good driver, having above-average credit, not filing small claims, and consideration of higher deductibles. Invest time comparing rates at least once a year by requesting quotes from direct carriers like Progressive, GEICO, and Esurance, and also from local insurance agents.

The following list is a quick rundown of the primary concepts that were covered in the charts and tables above.

• Drivers can save up to $250 per year just by shopping early and online
• Higher risk drivers with reckless driving or DUI convictions may be required to pay an average of $2,280 more every year than a safer driver
• Increasing policy deductibles can save around $950 each year
• Drivers age 16 to 20 are the costliest to insure, as much as $569 per month if full coverage is included