Tesla Model S Insurance Rates

The average insurance rates for a Tesla Model S are $1,848 a year with full coverage. Comprehensive insurance costs approximately $432 a year, collision insurance costs $892, and liability insurance costs $388. A liability-only policy costs as little as $434 a year, and high-risk insurance costs $4,036 or more. Teen drivers cost the most to insure at up to $6,602 a year.

Average premium for full coverage: $1,848

Policy rates by type of insurance:

Prices are based on $500 physical damage deductibles, 30/60 split liability limits, and includes additional medical/uninsured motorist coverage. Prices are averaged for all U.S. states and Model S trim levels.

Price Range Variability

Urban vs. Rural Price Range

Your location has a significant impact on the price of insurance. Rural locations are shown to have lower incidents of collision claims than larger metro areas. The diagram below illustrates how where you live affects auto insurance prices.

The examples above demonstrate why it is important to compare rates using their specific location, rather than relying on price averages.

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

Additional Rate Analysis

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

• The lowest rate with discounts is $1,014
• Drivers who choose higher $1,000 deductibles will pay $1,550 annually
• The estimated price for a good driver age 40 who chooses $500 deductibles is $1,848
• Choosing low $100 deductibles for comprehensive and collision insurance will cost an additional $590 a year
• High risk drivers with multiple violations and an at-fault accident could pay around $4,036
• Policy cost that insures a teen driver can cost $6,602 a year

View Chart as Image

Car insurance rates for a Tesla Model S also range considerably based on the trim level of your Model S, your age and driving habits, and physical damage deductibles and liability limits.

If you have a few points on your driving record or you caused an accident, you may be forking out anywhere from $2,200 to $3,000 extra every year, depending on your age. A high-risk auto insurance policy can cost anywhere from 45% to 133% more than average. View High Risk Driver Rates

Older drivers with no driving violations and higher comprehensive and collision deductibles could pay as little as $1,700 per year on average, or $142 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records will be charged in the ballpark of $6,600 a year. View Rates by Age

Your home state makes a big difference in Tesla Model S insurance rates. A 40-year-old driver could pay as low as $1,330 a year in states like Utah, Ohio, and New Hampshire, or as much as $2,490 on average in New York, Michigan, and Florida.

View Chart as Image

Choosing high deductibles could save up to $890 each year, while buying higher liability limits will push rates upward. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $349 extra every 12 months. View Rates by Deductible or Liability Limit

How to Find Affordable Tesla Model S Insurance

Finding cheaper rates on Tesla Model S insurance not only requires being a safe and courteous driver, but also having a positive credit history, not filing small claims, and attention to physical damage deductibles. Shop around at least every other year by requesting quotes from direct companies, and also from local insurance agencies.

Below is a brief review of the car insurance concepts touched on in the above illustrations.

• High-risk drivers with DUI or reckless driving convictions may have to pay on average $2,190 more per year for auto insurance
• You may be able to save around $240 per year just by quoting early and online
• Increasing comprehensive and collision deductibles can save approximately $900 each year
• Drivers who purchase higher levels of liability will pay about $430 every year to go from a 30/60 limit to the 250/500 level