Insurance for Tesla Vehicles
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UPDATED: Mar 29, 2024
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The next table shows average insurance prices for Tesla vehicles. Other models are displayed at the end of this page
| Vehicle Model | Annual Premium | Monthly Premium |
|---|---|---|
| Tesla Model 3 | $1,802 | $150 |
| Tesla Model S | $2,220 | $185 |
| Tesla Model X | $2,194 | $183 |
| Tesla Roadster | $2,406 | $201 |
| Get Rates for Your Model Go | ||
Rates assume current model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.
The prior chart uses the average vehicle rating data for all Tesla vehicles in the above table to showcase how variations in coverage can have a huge impact on car insurance rates.
Insurance prices for a Tesla range considerably based on liability limits and deductibles, your driving characteristics, and the trim level and model year.
Choosing high deductibles could cut rates by as much as $1,120 every year, whereas buying more liability protection will increase rates. Changing from a 50/100 liability limit to a 250/500 limit will raise rates by up to $335 more each year
A more mature driver with no violations or accidents and higher deductibles may pay as little as $2,000 a year, or $167 per month, for full coverage. Rates are highest for teenagers, since even excellent drivers should be prepared to pay as much as $7,700 a year.
If you have a few points on your driving record or you were responsible for an accident, you are likely paying at least $2,600 to $3,500 additional every year, depending on your age. Tesla insurance for high-risk drivers can be as much as 45% to 133% more than average.
Your home state has a huge impact on Tesla insurance prices. A driver around age 40 might see rates as low as $1,680 a year in states like Missouri, New Hampshire, and Vermont, or as much as $3,150 on average in Michigan, Montana, and Louisiana.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,984 | -$210 | -9.6% |
| Alaska | $1,684 | -$510 | -23.2% |
| Arizona | $1,820 | -$374 | -17.0% |
| Arkansas | $2,194 | -$0 | 0.0% |
| California | $2,500 | $306 | 13.9% |
| Colorado | $2,098 | -$96 | -4.4% |
| Connecticut | $2,256 | $62 | 2.8% |
| Delaware | $2,486 | $292 | 13.3% |
| Florida | $2,746 | $552 | 25.2% |
| Georgia | $2,028 | -$166 | -7.6% |
| Hawaii | $1,576 | -$618 | -28.2% |
| Idaho | $1,486 | -$708 | -32.3% |
| Illinois | $1,636 | -$558 | -25.4% |
| Indiana | $1,654 | -$540 | -24.6% |
| Iowa | $1,482 | -$712 | -32.5% |
| Kansas | $2,088 | -$106 | -4.8% |
| Kentucky | $2,994 | $800 | 36.5% |
| Louisiana | $3,250 | $1,056 | 48.1% |
| Maine | $1,356 | -$838 | -38.2% |
| Maryland | $1,812 | -$382 | -17.4% |
| Massachusetts | $1,756 | -$438 | -20.0% |
| Michigan | $3,814 | $1,620 | 73.8% |
| Minnesota | $1,836 | -$358 | -16.3% |
| Mississippi | $2,630 | $436 | 19.9% |
| Missouri | $1,948 | -$246 | -11.2% |
| Montana | $2,360 | $166 | 7.6% |
| Nebraska | $1,732 | -$462 | -21.1% |
| Nevada | $2,632 | $438 | 20.0% |
| New Hampshire | $1,582 | -$612 | -27.9% |
| New Jersey | $2,454 | $260 | 11.9% |
| New Mexico | $1,944 | -$250 | -11.4% |
| New York | $2,312 | $118 | 5.4% |
| North Carolina | $1,264 | -$930 | -42.4% |
| North Dakota | $1,796 | -$398 | -18.1% |
| Ohio | $1,516 | -$678 | -30.9% |
| Oklahoma | $2,254 | $60 | 2.7% |
| Oregon | $2,012 | -$182 | -8.3% |
| Pennsylvania | $2,096 | -$98 | -4.5% |
| Rhode Island | $2,928 | $734 | 33.5% |
| South Carolina | $1,990 | -$204 | -9.3% |
| South Dakota | $1,852 | -$342 | -15.6% |
| Tennessee | $1,924 | -$270 | -12.3% |
| Texas | $2,646 | $452 | 20.6% |
| Utah | $1,626 | -$568 | -25.9% |
| Vermont | $1,502 | -$692 | -31.5% |
| Virginia | $1,316 | -$878 | -40.0% |
| Washington | $1,698 | -$496 | -22.6% |
| West Virginia | $2,012 | -$182 | -8.3% |
| Wisconsin | $1,520 | -$674 | -30.7% |
| Wyoming | $1,956 | -$238 | -10.8% |
Because rates have so much variability, the best way to figure out your exact price is to regularly compare rates and see which company has the best price. Each insurance company uses a different rate calculation, and rates will be varied.
U.S. averages for full coverage Tesla vehicle insurance
National average data is compiled from all 50 U.S. states for the Tesla models in the rate table on this page. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record.
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $7,714 |
| 20 | $5,110 |
| 30 | $2,332 |
| 40 | $2,194 |
| 50 | $1,998 |
| 60 | $1,962 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,934 |
| $250 | $2,590 |
| $500 | $2,194 |
| $1,000 | $1,816 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $11,144 |
| 20 | $8,136 |
| 30 | $4,938 |
| 40 | $4,788 |
| 50 | $4,562 |
| 60 | $4,524 |
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 | $122 |
| Multi-vehicle | $114 |
| Homeowner | $28 |
| 5-yr Accident Free | $185 |
| 5-yr Claim Free | $147 |
| Paid in Full/EFT | $117 |
| Advance Quote | $119 |
| Online Quote | $163 |
| Total Discounts | $995 |
Discounts are estimated and may not be available from every company or in every state.
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