Tesla Model S Insurance Rates

The average insurance prices for a Tesla Model S are $1,848 every 12 months with full coverage. Comprehensive insurance costs on average $432 each year, collision insurance costs $892, and liability insurance costs $388. Buying just liability costs as little as $434 a year, and insurance for high-risk drivers costs $4,036 or more. Teens 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:

These estimates include $500 comprehensive and collision deductibles, split liability limits of 30/60, and includes uninsured/under-insured motorist coverage. Prices are averaged for all U.S. states and Model S models.

Price Range Variability

Urban vs. Rural Price Range

Your location has a significant impact on auto insurance rates. Rural areas are shown to have more infrequent collision claims than cities with more traffic congestion. The graphic below illustrates how where you live affects car insurance rates.

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

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

More Rate Information

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

• The cheapest rate after discounts is $1,014
• Drivers who choose higher $1,000 deductibles will pay around $298 annually
• The average price for a good driver age 40 with $500 deductibles is $1,848
• Selecting low deductibles for comprehensive and collision insurance costs an extra $590 a year
• High risk drivers with serious driving violations could pay upwards of $4,036
• Policy cost to insure a teen driver may cost $6,602 a year

View Chart as Image

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

Choosing higher comprehensive and collision insurance deductibles could save up to $890 each year, whereas increasing liability limits will cost you more. Moving from a 50/100 liability limit to a 250/500 limit will raise rates by up to $349 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 $1,700 per year on average, or $142 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers can expect to pay upwards of $6,600 a year. View Rates by Age

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

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 New Hampshire, Ohio, and Utah, or have to pay at least $2,490 on average in Florida, Michigan, and New York.

View Chart as Image

How to Shop for Cheap Tesla Model S Insurance

Finding cheaper rates on Tesla Model S insurance not only requires avoiding accidents and violations, but also having good credit, not filing small claims, and determing if full coverage is necessary. Take the time to comparison shop at least once a year by getting rate quotes from direct companies, and also from local exclusive and independent agents.

The list below is a brief summary of the primary concepts that were touched on in the above illustrations.

• You may be able to save as much as $240 per year just by quoting online in advance
• High-risk drivers that tend to have accidents or serious violations may pay on average $2,190 more each year for car insurance
• Increasing comprehensive and collision deductibles could save as much as $900 each year
• Teenagers pay the highest rates, as much as $550 each month if they have full coverage