Tesla Model S Insurance Rates

Estimated insurance rates for a Tesla Model S are $1,918 a year for full coverage. Comprehensive insurance costs approximately $452 a year, 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 $4,194 or more. Teen drivers pay the most at up to $6,828 a year.

Average premium for full coverage: $1,918

Premium estimates by type of coverage:

Price estimates include $500 physical damage deductibles, minimum liability limits, and includes uninsured/under-insured motorist coverage. Rates include averaging for all states and 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 car insurance rates. Rural locations are statistically proven to have a lower frequency of accident claims than larger metro areas. The diagram below illustrates how your location can change auto insurance prices.

These rate differences show why it is important to compare rates quotes using their specific location and risk profile, instead of using price averages.

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

More Rate Information

The chart below shows average Tesla Model S insurance rates for additional coverage and risk scenarios.

• The lowest rate with discounts is $1,047
• Raising to $1,000 deductibles will save $1,600 a year
• The average rate for a 40-year-old good driver who chooses $500 deductibles is $1,918
• Choosing low $100 deductibles will cost an extra $622 every year
• At-risk drivers with multiple violations and an at-fault accident could pay around $4,194
• An auto insurance policy for full coverage for a teen driver can cost $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 physical damage deductibles and liability limits.

Older drivers 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 in the ballpark of $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 Iowa, Maine, and Idaho, or as much as $2,730 on average in New York, Louisiana, and Michigan.

View Chart as Image

Choosing high deductibles can reduce prices by up to $940 every year, while buying higher liability limits will push prices upward. 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 anywhere from $2,300 to $3,100 extra annually, depending on your age. A high-risk auto insurance policy is expensive and can cost as much as 45% to 134% more than average. View High Risk Driver Rates

How to Find Cheaper Tesla Model S Insurance

Finding better rates on car insurance consists of being a safe and courteous driver, having above-average credit, not filing small claims, and attention to physical damage deductibles. Invest the time to shop around every couple of years by requesting quotes from direct carriers like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.

Below is a condensed summary of the material that was illustrated above.

• Policyholders who purchase higher levels of liability will pay about $420 each year to raise from 30/60 bodily injury limits to 250/500 limits
• Teenage drivers pay the highest auto insurance prices, as much as $569 per month if full coverage is included
• Higher risk drivers with multiple at-fault accidents may pay on average $2,280 more per year for auto insurance
• Increasing policy deductibles can save around $950 each year