Tesla Model S Insurance Rates
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Michelle Robbins
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UPDATED: Jun 6, 2024
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U.S. average insurance rates for a Tesla Model S are $1,740 a year for full coverage insurance. Comprehensive insurance costs on average $414 a year, collision costs $800, and liability coverage costs $390. Liability-only coverage costs as little as $438 a year, with high-risk coverage costing $3,788 or more. 16-year-old drivers pay the highest rates at $6,234 a year or more.
Average premium for full coverage: $1,740
Price estimates by individual coverage:
Full coverage includes $500 comprehensive and collision deductibles, 30/60 liability coverage, and includes UM/UIM and medical coverage. Estimates are averaged for all 50 states and Model S trim levels.
Price Range from Low to High
Using a middle-aged driver as an example, Tesla Model S insurance prices go from the low end price of $438 for a discount liability-only rate to a high of $3,788 for a policy for a high-risk driver.
Geographic Price Range
Your location has a large influence on insurance rates. Rural areas have lower incidents of physical damage claims than congested cities.
The diagram below illustrates how where you live affects car insurance rates.
The ranges above illustrate why it is important to compare rates based on a specific location, 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.
Rates by State, City, and Model
The chart below illustrates estimated Tesla Model S insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $965
- Drivers who choose higher $1,000 deductibles will pay around $1,466 each year
- The estimated price for the average middle-age driver with $500 deductibles is $1,740
- Buying low $100 deductibles for comprehensive and collision insurance will cost an additional $538 each year
- High-risk insureds with multiple tickets or accidents could pay upwards of $3,788 or more
- The price that insures a teenage driver may cost $6,234 a year
Auto insurance prices for a Tesla Model S are also quite variable based on the trim level of your Model S, your age and driving record, and policy deductibles and limits.
If you have some driving violations or you caused an accident, you are probably paying at a minimum $2,100 to $2,800 in extra premium each year, depending on your age. A high-risk auto insurance policy can cost around 45% to 135% more than the average rate. View High Risk Driver Rates
Older drivers with a good driving record and higher comprehensive and collision deductibles may only pay around $1,600 per year on average for full coverage. Prices are highest for teenage drivers, since even teens with perfect driving records will have to pay upwards of $6,200 a year. View Rates by Age
The state you live in makes a big difference in Tesla Model S insurance rates. A 40-year-old driver could pay as low as $1,140 a year in states like Vermont, Wisconsin, and North Carolina, or at least $2,350 on average in Michigan, New York, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,572 | -$168 | -9.7% |
| Alaska | $1,336 | -$404 | -23.2% |
| Arizona | $1,444 | -$296 | -17.0% |
| Arkansas | $1,740 | -$0 | 0.0% |
| California | $1,984 | $244 | 14.0% |
| Colorado | $1,662 | -$78 | -4.5% |
| Connecticut | $1,788 | $48 | 2.8% |
| Delaware | $1,968 | $228 | 13.1% |
| Florida | $2,174 | $434 | 24.9% |
| Georgia | $1,610 | -$130 | -7.5% |
| Hawaii | $1,250 | -$490 | -28.2% |
| Idaho | $1,180 | -$560 | -32.2% |
| Illinois | $1,298 | -$442 | -25.4% |
| Indiana | $1,312 | -$428 | -24.6% |
| Iowa | $1,174 | -$566 | -32.5% |
| Kansas | $1,654 | -$86 | -4.9% |
| Kentucky | $2,376 | $636 | 36.6% |
| Louisiana | $2,576 | $836 | 48.0% |
| Maine | $1,076 | -$664 | -38.2% |
| Maryland | $1,436 | -$304 | -17.5% |
| Massachusetts | $1,390 | -$350 | -20.1% |
| Michigan | $3,022 | $1,282 | 73.7% |
| Minnesota | $1,460 | -$280 | -16.1% |
| Mississippi | $2,084 | $344 | 19.8% |
| Missouri | $1,546 | -$194 | -11.1% |
| Montana | $1,870 | $130 | 7.5% |
| Nebraska | $1,370 | -$370 | -21.3% |
| Nevada | $2,088 | $348 | 20.0% |
| New Hampshire | $1,256 | -$484 | -27.8% |
| New Jersey | $1,946 | $206 | 11.8% |
| New Mexico | $1,540 | -$200 | -11.5% |
| New York | $1,832 | $92 | 5.3% |
| North Carolina | $1,002 | -$738 | -42.4% |
| North Dakota | $1,426 | -$314 | -18.0% |
| Ohio | $1,200 | -$540 | -31.0% |
| Oklahoma | $1,786 | $46 | 2.6% |
| Oregon | $1,594 | -$146 | -8.4% |
| Pennsylvania | $1,658 | -$82 | -4.7% |
| Rhode Island | $2,322 | $582 | 33.4% |
| South Carolina | $1,578 | -$162 | -9.3% |
| South Dakota | $1,468 | -$272 | -15.6% |
| Tennessee | $1,524 | -$216 | -12.4% |
| Texas | $2,098 | $358 | 20.6% |
| Utah | $1,290 | -$450 | -25.9% |
| Vermont | $1,190 | -$550 | -31.6% |
| Virginia | $1,042 | -$698 | -40.1% |
| Washington | $1,344 | -$396 | -22.8% |
| West Virginia | $1,596 | -$144 | -8.3% |
| Wisconsin | $1,204 | -$536 | -30.8% |
| Wyoming | $1,550 | -$190 | -10.9% |
Opting for high physical damage deductibles could save up to $820 a year, while buying higher liability limits will cost you more. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $351 extra every year. View Rates by Deductible or Liability Limit
Since prices can be so different, the only way to figure out exactly what you will pay is to get quotes and see how they stack up. Every company utilizes a different rate formula, and quoted prices may be quite different.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Tesla Model S | $532 | $1,130 | $338 | $2,136 |
| 2023 Tesla Model S | $514 | $1,104 | $354 | $2,108 |
| 2022 Tesla Model S | $496 | $1,058 | $364 | $2,054 |
| 2021 Tesla Model S | $470 | $1,020 | $376 | $2,002 |
| 2020 Tesla Model S | $452 | $946 | $384 | $1,918 |
| 2019 Tesla Model S | $432 | $892 | $388 | $1,848 |
| 2018 Tesla Model S | $414 | $800 | $390 | $1,740 |
| 2017 Tesla Model S | $388 | $736 | $390 | $1,650 |
| 2016 Tesla Model S | $374 | $690 | $394 | $1,594 |
| 2014 Tesla Model S | $338 | $598 | $402 | $1,474 |
| 2013 Tesla Model S | $330 | $542 | $406 | $1,414 |
| 2012 Tesla Model S | $306 | $496 | $402 | $1,340 |
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 not only requires avoiding accidents and violations, but also maintaining a good credit score, not filing small claims, and taking advantage of discounts. Comparison shop every year by quoting rates from direct insurance companies, and also from your local independent and exclusive agents.
The list below is a summary of the coverage data touched on in the above illustrations.
- It is possible to save as much as $220 per year simply by quoting early and online
- Increasing physical damage deductibles can save approximately $800 each year
- Teenagers are charged the highest prices, as much as $520 a month if the policy includes full coverage
- Drivers who have multiple accidents or major violations may pay on average $2,050 more each year for car insurance
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,234 |
| 20 | $4,028 |
| 30 | $1,838 |
| 40 | $1,740 |
| 50 | $1,588 |
| 60 | $1,560 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,278 |
| $250 | $2,028 |
| $500 | $1,740 |
| $1,000 | $1,466 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,740 |
| 50/100 | $1,818 |
| 100/300 | $1,916 |
| 250/500 | $2,169 |
| 100 CSL | $1,857 |
| 300 CSL | $2,072 |
| 500 CSL | $2,228 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,982 |
| 20 | $6,420 |
| 30 | $3,898 |
| 40 | $3,788 |
| 50 | $3,610 |
| 60 | $3,578 |
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 | $96 |
| Multi-vehicle | $91 |
| Homeowner | $24 |
| 5-yr Accident Free | $140 |
| 5-yr Claim Free | $116 |
| Paid in Full/EFT | $88 |
| Advance Quote | $92 |
| Online Quote | $128 |
| Total Discounts | $775 |
Discounts are estimated and may not be available from every company or in every state.
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