Tesla Model S Insurance Rates

The average insurance prices for a Tesla Model S are $1,918 every 12 months for full coverage insurance. Comprehensive costs on average $452 each year, collision insurance costs $946, and liability insurance is $384. Buying just liability costs around $432 a year, and insurance for high-risk drivers costs around $4,194. Teenage drivers cost the most to insure at up to $6,828 a year.

Average premium for full coverage: $1,918

Policy rates by type of insurance:

Includes $500 physical damage insurance deductibles, liability limits of 30/60, and includes both medical and uninsured motorist insurance. Prices are averaged for all 50 states and Model S models.

Price Range Variability

Urban vs. Rural Price Range

Choosing to live in a large city has a significant impact on insurance rates. Rural areas are shown to have more infrequent physical damage claims than densely populated cities. The graphic below illustrates the difference location can make on car insurance rates.

The examples above illustrate why all drivers should compare rates quotes based on a specific location and their own driving history, rather than relying on average rates.

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

Additional Rate Details

The chart below illustrates average Tesla Model S insurance rates for different risk profiles and scenarios.

• The best discount rate is $1,047
• Raising to $1,000 deductibles will save around $318 each year
• The average price for a good driver age 40 with $500 deductibles is $1,918
• Using low deductibles increases the price to $2,540
• Higher-risk drivers who are prone to accidents and violations could pay upwards of $4,194
• Policy cost to insure a teen driver may cost $6,828

View Chart as Image

Insurance rates for a Tesla Model S also range considerably based on liability limits and deductibles, your risk profile, and the trim level of your Model S.

Using high physical damage deductibles can reduce rates by up to $940 each year, whereas increasing liability limits will cost you more. Switching from a 50/100 liability limit to a 250/500 limit will raise rates by up to $345 more per year. View Rates by Deductible or Liability Limit

More mature drivers with a clean driving record and higher deductibles could pay as little as $1,800 every 12 months on average, or $150 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers can expect to pay upwards of $6,800 a year. View Rates by Age

If you have a few points on your driving record or you were responsible for an accident, you are probably paying at a minimum $2,300 to $3,100 extra every year, depending on your age. Insurance for high-risk drivers is expensive and can cost anywhere from 45% to 134% more than a normal policy. View High Risk Driver Rates

Your home state also has a big influence on Tesla Model S insurance rates. A middle-age driver might find rates as low as $1,250 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,580 on average in Michigan, New York, and Florida.

View Chart as Image

How to Shop for the Cheapest Tesla Model S Insurance

Finding cheaper rates on Tesla Model S insurance consists of being a low-risk driver, having good credit, being claim-free, and determing if full coverage is necessary. Make time to compare rates once a year by getting rate quotes from direct insurance companies, and also from several local insurance agents.

The items below are a recap of the data that was touched on in this article.

• It is possible to save as much as $250 per year just by quoting online in advance
• Drivers who require more liability coverage will pay an extra $420 annually to raise from a 30/60 limit to a 250/500 level
• Teen drivers pay the highest rates, possibly costing $569 each month if they have full coverage
• High-risk drivers that have major violations or accidents pay on average $2,280 more each year to insure their Model S