Tesla Model S Insurance Rates
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UPDATED: Jun 6, 2024
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Estimated insurance prices for a Tesla Model S are $1,848 every 12 months for full coverage insurance. Comprehensive costs on average $432 a year, collision insurance costs $892, and liability coverage is estimated at $388. Liability-only insurance costs approximately $434 a year, and high-risk driver insurance costs around $4,036. Teenage drivers pay the most at up to $6,602 a year.
Average premium for full coverage: $1,848
Premium estimates by type of coverage:
Estimates include $500 comprehensive and collision deductibles, bodily injury liability limits of 30/60, and includes additional medical/uninsured motorist coverage. Rates include averaging for all 50 states and Model S trim levels.
Insurance Price Range by Risk and Coverage
For the average 40-year-old driver, insurance rates for a Tesla Model S range from the cheapest price of $434 for just the minimum liability insurance to a high of $4,036 for a driver who has had serious violations or accidents.
Insurance Price Range by Location
Living in a larger city has a large influence on insurance rates. Rural areas are statistically proven to have more infrequent physical damage claims than densely populated cities. The diagram below illustrates the difference location can make on car insurance rates.
These rate differences illustrate why it is important to get quotes based on a specific location and their own driving history, rather than using average rates.
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 Analysis
The chart below illustrates average Tesla Model S insurance rates for different risk profiles and scenarios.
- The best discount rate is $1,014
- Choosing higher $1,000 deductibles can save around $1,550 each year
- The average price for a 40-year-old good driver with $500 deductibles is $1,848
- Using low $100 deductibles for comp and collision coverage increases the price to $2,438
- Drivers who are prone to accidents and violations could pay upwards of $4,036
- An auto insurance policy to insure a teenage driver may cost $6,602 each year
Insurance prices for a Tesla Model S also have a wide range based on physical damage deductibles and liability limits, your risk profile, and the trim level of your Model S.
Using high physical damage deductibles can save as much as $890 a year, while buying higher liability limits will cost you more. Switching from a 50/100 liability limit to a 250/500 limit will cost up to $349 more each year. View Rates by Deductible or Liability Limit
Older drivers with no violations or accidents and higher deductibles may only pay around $1,700 annually on average, or $142 per month, for full coverage. Prices are much higher for drivers in their teens, since even excellent drivers should be prepared to pay upwards of $6,600 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you are probably paying at a minimum $2,200 to $3,000 additional annually, depending on your age. A high-risk auto insurance policy ranges around 45% to 133% more than a normal policy. View High Risk Driver Rates
Where you choose to live plays a big part in determining prices for Tesla Model S insurance rates. A good driver about age 40 could pay as low as $1,210 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,490 on average in Michigan, New York, and Florida.
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 Shop for Low Cost Tesla Model S Insurance
Finding better rates on auto insurance takes having a decent driving record, having above-average credit, paying for small claims out-of-pocket, and dropping full coverage on older vehicles. Make time to compare rates every other policy renewal by getting rate quotes from direct insurance companies, and also from several local insurance agents.
The following items are a review of the ideas that were touched on in this article.
- 16 to 18-year-old drivers pay higher prices, with premiums being up to $550 per month if full coverage is included
- Drivers who have several accidents or serious violations pay on average $2,190 more each year than a driver with a clean driving record
- Increasing policy deductibles could save as much as $900 each year
- It is possible to save as much as $240 per year just by quoting early and online
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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