Tesla Model S Insurance Rates

The average insurance rates for a Tesla Model S are $1,848 a year including full coverage. Comprehensive insurance costs on average $432, collision costs $892, and liability is $388. Liability-only coverage costs around $434 a year, with high-risk coverage costing $4,036 or more. Teenage drivers cost the most to insure at $6,602 a year or more.

Average premium for full coverage: $1,848

Policy rates by type of insurance:

Price estimates include $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes medical and uninsured motorist coverage. Prices are averaged for all 50 U.S. states and for all Model S models.

Price Range Variability

Urban vs. Rural Price Range

Choosing to live in a large city can make a big difference on car insurance rates. Rural areas are shown to have lower incidents of comprehensive and collision claims than densely populated cities.

The example below illustrates how location helps determine car insurance rates.

The examples above highlight why everyone should compare rates quotes based on a specific location, instead of making a decision based on average rates.

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

Detailed Rate Analysis

The chart below breaks down estimated Tesla Model S insurance rates for different risk profiles and scenarios.

• The best discount rate is $1,014
• Raising to $1,000 deductibles will save around $298 every year
• The estimated price for a good driver age 40 with $500 deductibles is $1,848
• Using pricier low deductibles will cost an additional $590 annually
• Drivers who are prone to accidents and violations could pay upwards of $4,036 or more
• Policy cost that insures a 16-year-old driver for full coverage may cost $6,602

View Chart as Image

Insurance rates for a Tesla Model S also range considerably based on the model of your Model S, your driving record and age, and policy deductibles and limits.

If you have a few points on your driving record or you caused an accident, you are likely paying at a minimum $2,200 to $3,000 additional every year, depending on your age. Tesla Model S insurance for high-risk drivers is expensive and can cost from 45% to 133% more than a normal policy. View High Risk Driver Rates

A more mature driver with no violations or accidents and higher comprehensive and collision deductibles may pay as low as $1,700 every 12 months on average, or $142 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records should be prepared to pay upwards of $6,600 a year. View Rates by Age

Your home state also has a big influence on Tesla Model S insurance prices. A middle-age driver might find rates as low as $1,420 a year in states like Missouri, New Hampshire, and Vermont, or be forced to pay as much as $2,630 on average in Michigan, New York, and Louisiana.

View Chart as Image

Using high physical damage deductibles can reduce rates by up to $890 annually, whereas buying more liability protection will cost you more. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $349 more each year. View Rates by Deductible or Liability Limit

Because rates have so much variability, the best way to figure out exactly what you will pay is to regularly compare rates from multiple companies. Every auto insurance company uses a different method to calculate rates, and rates will be varied.

How to Find Cheaper Tesla Model S Insurance

Finding cheaper rates on insurance for a Tesla Model S consists of avoiding accidents and violations, having a good credit score, paying for small claims out-of-pocket, and insuring your home and auto with the same company. Compare prices at least every other year by getting quotes from direct car insurance companies, and also from insurance agencies where you live.

The list below is a condensed summary of the car insurance concepts covered in the charts and tables above.

• Drivers considered higher risk with multiple at-fault accidents could be forced to pay on average $2,190 more each year for car insurance
• You may be able to save as much as $240 per year simply by quoting online well ahead of the renewal date
• Increasing comprehensive and collision deductibles can save approximately $900 each year
• Insureds who require higher liability limits will pay an extra $430 per year to raise from a 30/60 limit to the 250/500 level