Tesla Model S Insurance Rates

U.S. average insurance rates for a Tesla Model S are $1,848 a year including full coverage. Comprehensive costs approximately $432 each year, collision insurance costs $892, and liability insurance costs around $388. A policy with just liability insurance costs as low as $434 a year, and coverage for high-risk drivers costs around $4,036. Teens pay the highest rates at up to $6,602 a year.

Average premium for full coverage: $1,848

Price estimates by individual coverage:

Prices include $500 deductibles, minimum liability limits, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all 50 U.S. states and Model S models.

Price Range from Low to High

Geographic Price Range

Where you live has a significant impact on car insurance prices. Rural locations have a lower frequency of comprehensive and collision claims than cities with more traffic congestion. The graphic below illustrates the effect of geographic area on auto insurance prices.

The ranges above highlight why all drivers should compare prices using their specific location and risk profile, rather than relying on averaged prices.

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

More Rate Information

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

• The cheapest rate after discounts is $1,014
• Using higher $1,000 deductibles will save $298 every year
• The average rate for the average middle-age driver who chooses $500 deductibles is $1,848
• Selecting low deductibles for physical damage coverage will increase the cost to $2,438
• Drivers with serious driving violations could pay around $4,036
• The price for full coverage for a teen driver can cost $6,602 or more

View Chart as Image

Insurance prices for a Tesla Model S are also quite variable based on your driving record, the model of your Model S, and physical damage deductibles and liability limits.

More mature drivers with a clean driving record and high deductibles could pay as little as $1,700 a year for full coverage. Prices are much higher for teenage drivers, where even good drivers can expect to pay in the ballpark of $6,600 a year. View Rates by Age

The state you live in has a huge impact on Tesla Model S insurance rates. A driver around age 40 might see prices as low as $1,420 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,630 on average in Louisiana, New York, and Michigan.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles could cut prices by as much as $890 each year, whereas increasing liability limits will push prices upward. Changing from a 50/100 limit to a 250/500 limit will increase prices by as much as $349 more per year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you are likely paying anywhere from $2,200 to $3,000 extra each year, depending on your age. Insurance for high-risk drivers can be anywhere from 45% to 133% more than the average policy. View High Risk Driver Rates

How to Find the Right Tesla Model S Insurance

Getting lower rates on Tesla Model S insurance requires not taking risks behind the wheel, maintaining good credit, being claim-free, and possibly raising deductibles. Take the time to compare rates every couple of years by getting quotes from direct car insurance companies like Progressive and GEICO, and also from insurance agencies where you live.

The following is a quick rundown of the material that was covered in the above illustrations.

• Drivers who purchase higher liability limits will pay approximately $430 per year to increase from a low limit to 250/500 limits
• Teens are expensive to insure, possibly costing $550 a month for full coverage
• High-risk drivers with reckless driving or DUI convictions could be forced to pay on average $2,190 more per year for Model S insurance
• Increasing physical damage deductibles can save around $900 each year