Tesla Model S Insurance Rates
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UPDATED: Jun 6, 2024
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Average insurance rates for a Tesla Model S are $1,848 a year with full coverage. Comprehensive insurance costs an estimated $432 a year, collision insurance costs $892, and liability insurance costs around $388. A liability-only policy costs as low as $434 a year, and high-risk insurance costs $4,036 or more. Teens receive the highest rates at up to $6,602 a year.
Average premium for full coverage: $1,848
Rate estimates broken down by individual coverage type:
Prices include $500 comprehensive and collision deductibles, minimum liability limits, and includes uninsured/under-insured motorist coverage. Rates are averaged for all U.S. states and Model S trim levels.
Price Range by Coverage and Risk
For a driver in their 40's, prices range range from the low end price of $434 for your basic liability-only policy to a high of $4,036 for high-risk insurance.
Price Range by Location
Where you live has a significant impact on car insurance rates. More rural locations tend to have lower incidents of collision claims than cities with more traffic congestion. The diagram below illustrates how location helps determine insurance prices.
These examples demonstrate why it is important to compare prices for a targeted area, rather than relying 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.
More Rate Information
The chart below details average Tesla Model S insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $1,014
- Using higher $1,000 deductibles will save approximately $1,550 annually
- The estimated price for a 40-year-old driver who has $500 deductibles is $1,848
- Selecting low $100 deductibles for physical damage coverage will cost an additional $590 a year
- Drivers with serious driving violations could pay up to $4,036
- The cost that insures a teen driver can cost as much as $6,602 or more
Insurance rates for a Tesla Model S can also vary considerably based on the trim level of your Model S, your age and driving habits, and liability limits and deductibles.
If you like to drive fast or you caused an accident, you may be forking out $2,200 to $3,000 extra per year, depending on your age. A high-risk auto insurance policy can be anywhere from 45% to 133% more than the average policy. View High Risk Driver Rates
Older drivers with a clean driving record and higher comprehensive and collision deductibles could pay as little as $1,700 a year for full coverage. Rates are much higher for teen drivers, since even teens with perfect driving records can expect to pay at least $6,600 a year. View Rates by Age
Where you live has a huge impact on Tesla Model S insurance rates. A driver around age 40 might see rates as low as $1,330 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,490 on average in New York, Michigan, 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% |
Choosing higher comprehensive and collision insurance deductibles could cut rates by as much as $890 each year, while buying higher liability limits will increase premiums. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $349 more per year. View Rates by Deductible or Liability Limit
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 the Right Tesla Model S Insurance
Saving money on Tesla Model S insurance requires having a decent driving record, having above-average credit, eliminating unnecessary coverage, and deciding if full coverage is necessary. Compare rates every couple of years by quoting rates from direct companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
The following items are a quick rundown of the material that was covered in the charts and tables above.
- Drivers who want additional liability coverage will pay approximately $430 every year to increase from a minimum limit to the 250/500 level
- 16 to 18-year-old drivers are charged the highest rates, with premiums as much as $550 per month if full coverage is included
- High-risk drivers with reckless driving or DUI convictions could be forced to pay on average $2,190 more annually than a driver with a clean driving record
- Increasing deductibles can save approximately $900 each year
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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