Tesla Model S Insurance Rates
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Michelle Robbins
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UPDATED: Jun 6, 2024
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Estimated insurance rates for a Tesla Model S are $1,740 a year for full coverage insurance. Comprehensive insurance costs an estimated $414, collision insurance costs $800, and liability is estimated at $390. Liability-only insurance costs approximately $438 a year, and high-risk driver insurance costs $3,788 or more. Teens pay the most at up to $6,234 a year.
Average premium for full coverage: $1,740
Premium estimates broken down by type of coverage:
Price estimates include $500 policy deductibles, 30/60 liability coverage, and includes both medical and UM/UIM coverage. Rates include averaging for all 50 states and for all Model S models.
Insurance Price Range by Risk and Coverage
Using a 40-year-old driver as an example, insurance rates for a Tesla Model S range from the low end price of $438 for basic liability insurance to the much higher price of $3,788 for a policy for a high-risk driver.
Insurance Price Range by Location
Living in a larger city can make a big difference on the price of insurance. More rural locations are statistically proven to have lower incidents of physical damage claims than cities with more traffic congestion. The example below illustrates how rural and urban location affects insurance prices.
These rate differences illustrate why everyone should get quotes for a targeted area, instead of making a decision based 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.
Rate Comparisons
The chart below illustrates average Tesla Model S insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $965
- Choosing higher $1,000 deductibles can save approximately $274 each year
- The estimated price for a 40-year-old good driver who has $500 deductibles is $1,740
- Selecting pricier low deductibles for comp and collision coverage will cost an additional $538 annually
- Higher-risk drivers with serious driving violations could pay up to $3,788
- An auto insurance policy that insures a 16-year-old driver for full coverage can cost as much as $6,234 each year
Insurance prices for a Tesla Model S also have a wide range based on the model of your Model S, your age and driving record, and liability limits and deductibles.
If you have a few violations or you caused an accident, you are probably paying $2,100 to $2,800 additional annually, depending on your age. Tesla Model S insurance for high-risk drivers ranges from 45% to 135% more than the average 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 $1,600 annually on average, or $133 per month, for full coverage. Prices are much higher for drivers in their teens, since even teens with perfect driving records should be prepared to pay at least $6,200 a year. View Rates by Age
Where you choose to live plays a big part in determining prices for Tesla Model S insurance prices. A good driver about age 40 could pay as low as $1,140 a year in states like North Carolina, Wisconsin, and Vermont, or have to pay at least $2,350 on average in Florida, New York, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,572 | -$168 | -9.7% |
| Alaska | $1,336 | -$404 | -23.2% |
| Arizona | $1,444 | -$296 | -17.0% |
| Arkansas | $1,740 | -$0 | 0.0% |
| California | $1,984 | $244 | 14.0% |
| Colorado | $1,662 | -$78 | -4.5% |
| Connecticut | $1,788 | $48 | 2.8% |
| Delaware | $1,968 | $228 | 13.1% |
| Florida | $2,174 | $434 | 24.9% |
| Georgia | $1,610 | -$130 | -7.5% |
| Hawaii | $1,250 | -$490 | -28.2% |
| Idaho | $1,180 | -$560 | -32.2% |
| Illinois | $1,298 | -$442 | -25.4% |
| Indiana | $1,312 | -$428 | -24.6% |
| Iowa | $1,174 | -$566 | -32.5% |
| Kansas | $1,654 | -$86 | -4.9% |
| Kentucky | $2,376 | $636 | 36.6% |
| Louisiana | $2,576 | $836 | 48.0% |
| Maine | $1,076 | -$664 | -38.2% |
| Maryland | $1,436 | -$304 | -17.5% |
| Massachusetts | $1,390 | -$350 | -20.1% |
| Michigan | $3,022 | $1,282 | 73.7% |
| Minnesota | $1,460 | -$280 | -16.1% |
| Mississippi | $2,084 | $344 | 19.8% |
| Missouri | $1,546 | -$194 | -11.1% |
| Montana | $1,870 | $130 | 7.5% |
| Nebraska | $1,370 | -$370 | -21.3% |
| Nevada | $2,088 | $348 | 20.0% |
| New Hampshire | $1,256 | -$484 | -27.8% |
| New Jersey | $1,946 | $206 | 11.8% |
| New Mexico | $1,540 | -$200 | -11.5% |
| New York | $1,832 | $92 | 5.3% |
| North Carolina | $1,002 | -$738 | -42.4% |
| North Dakota | $1,426 | -$314 | -18.0% |
| Ohio | $1,200 | -$540 | -31.0% |
| Oklahoma | $1,786 | $46 | 2.6% |
| Oregon | $1,594 | -$146 | -8.4% |
| Pennsylvania | $1,658 | -$82 | -4.7% |
| Rhode Island | $2,322 | $582 | 33.4% |
| South Carolina | $1,578 | -$162 | -9.3% |
| South Dakota | $1,468 | -$272 | -15.6% |
| Tennessee | $1,524 | -$216 | -12.4% |
| Texas | $2,098 | $358 | 20.6% |
| Utah | $1,290 | -$450 | -25.9% |
| Vermont | $1,190 | -$550 | -31.6% |
| Virginia | $1,042 | -$698 | -40.1% |
| Washington | $1,344 | -$396 | -22.8% |
| West Virginia | $1,596 | -$144 | -8.3% |
| Wisconsin | $1,204 | -$536 | -30.8% |
| Wyoming | $1,550 | -$190 | -10.9% |
Choosing higher comprehensive and collision insurance deductibles can save as much as $820 annually, whereas buying more liability protection will increase premiums. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $351 more each year. View Rates by Deductible or Liability Limit
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Tesla Model S | $532 | $1,130 | $338 | $2,136 |
| 2023 Tesla Model S | $514 | $1,104 | $354 | $2,108 |
| 2022 Tesla Model S | $496 | $1,058 | $364 | $2,054 |
| 2021 Tesla Model S | $470 | $1,020 | $376 | $2,002 |
| 2020 Tesla Model S | $452 | $946 | $384 | $1,918 |
| 2019 Tesla Model S | $432 | $892 | $388 | $1,848 |
| 2018 Tesla Model S | $414 | $800 | $390 | $1,740 |
| 2017 Tesla Model S | $388 | $736 | $390 | $1,650 |
| 2016 Tesla Model S | $374 | $690 | $394 | $1,594 |
| 2014 Tesla Model S | $338 | $598 | $402 | $1,474 |
| 2013 Tesla Model S | $330 | $542 | $406 | $1,414 |
| 2012 Tesla Model S | $306 | $496 | $402 | $1,340 |
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 Cheaper Tesla Model S Insurance
Finding better rates on insurance for a Tesla Model S takes avoiding accidents and claims, having a good credit score, paying for small claims out-of-pocket, and possibly raising deductibles. Compare rates every year by requesting quotes from direct insurance companies, and also from local insurance agencies.
The points below are a condensed summary of the coverage data raised in the charts and tables above.
- It is possible to save approximately $220 per year just by quoting online well ahead of the renewal date
- Increasing policy deductibles can save approximately $800 each year
- Drivers under the age of 20 are expensive to insure, with premiums being up to $520 per month if comprehensive and collision insurance is included
- Drivers considered higher risk with multiple at-fault accidents may have to pay on average $2,050 more annually to insure a Tesla Model S
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $6,234 |
| 20 | $4,028 |
| 30 | $1,838 |
| 40 | $1,740 |
| 50 | $1,588 |
| 60 | $1,560 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,278 |
| $250 | $2,028 |
| $500 | $1,740 |
| $1,000 | $1,466 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,740 |
| 50/100 | $1,818 |
| 100/300 | $1,916 |
| 250/500 | $2,169 |
| 100 CSL | $1,857 |
| 300 CSL | $2,072 |
| 500 CSL | $2,228 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,982 |
| 20 | $6,420 |
| 30 | $3,898 |
| 40 | $3,788 |
| 50 | $3,610 |
| 60 | $3,578 |
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.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
| Discount | Savings |
|---|---|
| Multi-policy | $96 |
| Multi-vehicle | $91 |
| Homeowner | $24 |
| 5-yr Accident Free | $140 |
| 5-yr Claim Free | $116 |
| Paid in Full/EFT | $88 |
| Advance Quote | $92 |
| Online Quote | $128 |
| Total Discounts | $775 |
Discounts are estimated and may not be available from every company or in every state.
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