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.

Average insurance rates for a Tesla Model S are $1,848 a year with full coverage. Comprehensive insurance costs an estimated $432 a year, collision insurance costs $892, and liability insurance costs around $388. A liability-only policy costs as low as $434 a year, and high-risk insurance costs $4,036 or more. Teens receive the highest rates at up to $6,602 a year.

Average premium for full coverage: $1,848

Rate estimates broken down by individual coverage type:

Comprehensive $432
Collision $892
Liability $388

Prices include $500 comprehensive and collision deductibles, minimum liability limits, and includes uninsured/under-insured motorist coverage. Rates are averaged for all U.S. states and Model S trim levels.

Price Range by Coverage and Risk

For a driver in their 40's, prices range range from the low end price of $434 for your basic liability-only policy to a high of $4,036 for high-risk insurance.

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

Price Range by Location

Where you live has a significant impact on car insurance rates. More rural locations tend to have lower incidents of collision claims than cities with more traffic congestion. The diagram below illustrates how location helps determine insurance prices.

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

These examples demonstrate why it is important to compare prices for a targeted area, rather than relying on averaged prices.

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.

More Rate Information

The chart below details average Tesla Model S insurance rates for other coverage scenarios.

  • The cheapest rate after discounts is $1,014
  • Using higher $1,000 deductibles will save approximately $1,550 annually
  • The estimated price for a 40-year-old driver who has $500 deductibles is $1,848
  • Selecting low $100 deductibles for physical damage coverage will cost an additional $590 a year
  • Drivers with serious driving violations could pay up to $4,036
  • The cost that insures a teen driver can cost as much as $6,602 or more

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

Insurance rates for a Tesla Model S can also vary considerably based on the trim level of your Model S, your age and driving habits, and liability limits and deductibles.

If you like to drive fast or you caused an accident, you may be forking out $2,200 to $3,000 extra per year, depending on your age. A high-risk auto insurance policy can be anywhere from 45% to 133% more than the average policy. View High Risk Driver Rates

Older drivers with a clean driving record and higher comprehensive and collision deductibles could pay as little as $1,700 a year for full coverage. Rates are much higher for teen drivers, since even teens with perfect driving records can expect to pay at least $6,600 a year. View Rates by Age

Where you live has a huge impact on Tesla Model S insurance rates. A driver around age 40 might see rates as low as $1,330 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,490 on average in New York, Michigan, and Florida.

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

Choosing higher comprehensive and collision insurance deductibles could cut rates by as much as $890 each year, while buying higher liability limits will increase premiums. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $349 more per year. 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 the Right Tesla Model S Insurance

Saving money on Tesla Model S insurance requires having a decent driving record, having above-average credit, eliminating unnecessary coverage, and deciding if full coverage is necessary. Compare rates every couple of years by quoting rates from direct companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.

The following items are a quick rundown of the material that was covered in the charts and tables above.

  • Drivers who want additional liability coverage will pay approximately $430 every year to increase from a minimum limit to the 250/500 level
  • 16 to 18-year-old drivers are charged the highest rates, with premiums as much as $550 per month if full coverage is included
  • High-risk drivers with reckless driving or DUI convictions could be forced to pay on average $2,190 more annually than a driver with a clean driving record
  • Increasing deductibles can save approximately $900 each year

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