Tesla Model S Insurance Rates

Enter your zip code below to view companies that have cheap auto insurance rates.

Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 6, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

U.S. average insurance rates for a Tesla Model S are $1,848 a year including full coverage. Comprehensive insurance costs an estimated $432, 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 $4,036 or more. 16-year-old drivers pay the highest rates at up to $6,602 a year.

Average premium for full coverage: $1,848

Price estimates broken down by individual coverage:

Comprehensive $432
Collision $892
Liability $388

Full coverage includes $500 comprehensive and collision deductibles, 30/60 liability limits, and includes uninsured motorist and medical coverage. Estimates are averaged for all 50 U.S. states and for different Model S trim levels.

Price Range from Low to High

Using a middle-aged driver as an example, Tesla Model S insurance prices range from the low end price of $434 for the bare minimum liability coverage to a much higher rate of $4,036 for a driver required to buy high-risk insurance.

Liability Only $434
Full Coverage $1,848
High Risk $4,036

Geographic Price Range

Living in a larger city has a large influence on the price of auto insurance. More rural locations have lower incidents of comprehensive and collision claims than congested cities. The price range example below illustrates how where you live affects insurance prices.

Rural Areas $1,386
Small Cities $1,940
Large Cities $2,495

The ranges above highlight why anyone shopping for car insurance should get quotes for a targeted area, rather than using rate averages.

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 breaks down average Tesla Model S insurance rates for other coverage scenarios.

  • The best full coverage rate is $1,014
  • Choosing higher $1,000 deductibles can save approximately $298 every year
  • The estimated price for the average middle-age driver who has $500 deductibles is $1,848
  • Buying more expensive low deductibles for comp and collision coverage will cost an additional $590 each year
  • Drivers with multiple tickets or accidents could pay up to $4,036
  • The price that insures a teenage driver with full coverage can cost as much as $6,602 each year

View Chart as Image

Tesla Model S insurance cost comparison chart
Column chart showing Tesla Model S insurance prices range from $1,014 to $6,602 for full coverage

Car insurance prices for a Tesla Model S are also quite variable based on the model year and trim level, your driving record and age, and liability limits and deductibles.

If you have some driving violations or you caused an accident, you are likely paying $2,200 to $3,000 extra each year, depending on your age. High-risk driver insurance ranges around 45% to 133% more than the average rate. View High Risk Driver Rates

An older driver with no driving violations and higher comprehensive and collision deductibles may only pay around $1,700 annually on average for full coverage. Prices are highest for teenage drivers, since even teens with perfect driving records will be charged at least $6,600 a year. View Rates by Age

The state you live in plays a big part in determining prices for Tesla Model S insurance rates. A good driver about age 40 could pay as low as $1,420 a year in states like Vermont, New Hampshire, and Missouri, or at least $2,630 on average in Louisiana, New York, and Michigan.

Tesla Model S Insurance Rates by State
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%

View Chart as Image

Tesla Model S insurance rates by U.S. city

Opting for high physical damage deductibles can save as much as $890 a year, while increasing your policy's liability limits will increase premiums. Changing from a 50/100 bodily injury protection 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

Tesla Model S Insurance Rates by Model Year
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 More Affordable Tesla Model S Insurance

Getting lower rates on auto insurance takes having a decent driving record, having a positive credit history, being claim-free, and possibly higher deductibles. Comparison shop at every policy renewal by getting rate quotes from direct car insurance companies, and also from your local car insurance providers.

The following items are a summary of the data touched on in the above illustrations.

  • Consumers who want additional liability coverage will pay around $430 per year to raise limits from a low limit to the 250/500 level
  • You may be able to save approximately $240 per year just by shopping early and online
  • Increasing physical damage deductibles can save approximately $900 each year
  • 16 to 18-year-old drivers have the highest car insurance prices, possibly costing $550 a month if full coverage is purchased

Rates by Driver Age

Tesla Model S Insurance 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

Tesla Model S Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,438
$250 $2,162
$500 $1,848
$1,000 $1,550

Full coverage, driver age 40

Rates by Liability Limit

Tesla Model S Insurance Rates with Different Liability Limits
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

Tesla Model S Insurance 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.

SR-22 Surcharge $270

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
Rate after discounts $1,014

Discounts are estimated and may not be available from every company or in every state.

Compare Rates and Save

Find companies with the cheapest rates in your area

Free Auto Insurance Comparison

Enter your zip code below to view companies that have cheap auto insurance rates.

secured lock Secured with SHA-256 Encryption

You May Also Enjoy These Articles