Buy Cheap Tesla Model S Auto Insurance in 2023

Tesla Model S insurance rates are expensive. Tesla Model S insurance costs around $701 more per year than the average vehicle. Our comprehensive guide breaks down the many types of auto insurance coverages and insurance rates for a Tesla Model S, so drivers can better understand how to save.

Need to buy Tesla Model S auto insurance? You can start comparing quotes for Tesla Model S auto insurance rates from some of the best car insurance companies by using your ZIP code in our free online tool now.

How much is a Tesla on insurance?

The average car insurance cost for a Tesla Model S is $2,220 a year or $185 a month.

But as you can see, Tesla Model S car insurance for teen drivers is significantly higher than the average for older, more experienced drivers.

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Is the Tesla Model S expensive to insure?

The chart below details how Tesla Model S insurance rates compare to other electric luxury sedans like the Tesla Model 3.

While these rates are expensive, you can do a few things to find the cheapest Tesla auto insurance rates online. Keep reading for more on the factors that can affect your Tesla Model S rates.

What impacts the average Tesla insurance cost?

The Tesla Model S trim and model you choose will affect the total price you will pay for Tesla Model S insurance coverage options.

Does the age of the vehicle affect rates?

The average Tesla car insurance rates for the Model S are higher for newer models. The data in this table demonstrates this point.

For example, car insurance rates for a 2020 Tesla Model S are $2,220 annually, while rates for a 2012 Tesla Model S average $1,740 per year, a difference of $480.

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Does the age of the driver affect rates?

Driver age can have a significant effect on the cost of Tesla Model S car insurance. Take a look at this chart for more.

For example, 30-year-old drivers pay approximately $98 more for their Tesla Model S car insurance than 40-year-old drivers.

Does the driver’s location affect rates?

Where you live can have a large impact on Tesla Model S insurance rates. This chart can give you a better idea of what we mean.

For example, drivers in New York may pay $1,355 a year more than drivers in Seattle.

Does driving record affect rates?

Your driving record can have an impact on the cost of Tesla Model S car insurance. Having good driving habits will ultimately save you money. Take a look at this chart for more.

As you can see, teens and drivers in their 20s see the highest jump in their Tesla Model S auto insurance rates with violations on their driving record.

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Do Tesla Model S safety ratings affect rates?

Your Tesla Model S car insurance rates are tied to the safety ratings of the Tesla Model S. See the breakdown below:

While the Tesla Model S does not currently have safety ratings from the Insurance Insitute for Highway Safety (IIHS), the organization has conducted crash tests.

Read the next section for more.

Do Tesla Model S crash test ratings affect rates?

Tesla’s electric vehicles are some of the safest vehicles on the road. Considering that safety record, it’s no surprise that insuring them can often cost much more than other vehicles.

The National Highway Traffic Safety Administration (NHTSA) also conducts crash tests on vehicles to determine crash test ratings for various vehicles. The crash test ratings of the Tesla Model S can impact your car insurance rates. Take a look at this table for Tesla Model S crash test ratings.

Higher crash test ratings mean a safer vehicle, which can translate to lower insurance rates because there is less risk to both you and your Tesla vehicle.

Do Tesla Model S safety features affect rates?

The Model S safety features can help lower your Tesla insurance costs. The 2020 Tesla Model S has the following safety features:

• Driver Air Bag
• Passenger Air Bag
• Front Head Air Bag
• Rear Head Air Bag
• Front Side Air Bag
• 4-Wheel ABS
• 4-Wheel Disc Brakes
• Brake Assist
• Electronic Stability Control
• Daytime Running Lights
• Child Safety Locks
• Traction Control
• Blind Spot Monitor
• Auto-Leveling Headlights
• Lane Departure Warning
• Lane Keeping Assist
• Cross-Traffic Alert

Check with your insurance company to find out which of these safety features can earn you discounts on your rates.

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Does Tesla Model S insurance loss probability affect rates?

We’ve pulled IIHS data on loss probability for the Tesla Model S. Take a look.

So what does this mean for you? Lower percentages mean lower Tesla Model S car insurance rates; higher percentages mean higher Tesla Model S auto insurance rates. Insurance loss probability on the Tesla Model S fluctuates between each type of coverage.

How much does Tesla Model S finance and insurance cost?

If you are financing a Tesla Model S, you will pay more if you purchase Tesla Model S auto insurance at the dealership, so be sure to shop around and compare Tesla Model S auto insurance quotes from the best companies using the free tool on this page.

How do you save on Tesla Model S insurance rates?

Whether you’re looking for Tesla insurance in Texas, New York, or anywhere else in the country, you can save more money on your Tesla Model S auto insurance rates by employing any of the following five strategies.

• Consider ride-sharing services to lower your Tesla Model S mileage
• Ask about seasonal insurance for your Tesla Model S
• Be picky about who drives your Tesla Model S
• Pay your bills on time—especially Tesla Model S payments and insurance
• Ask your insurance company about Tesla Model S discounts

You should also shop around for coverage by comparing rates from at least three companies.

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Which insurance companies cover the Tesla Model S?

Take a look at this list of top car insurance companies popular with Tesla Model S drivers, organized by market share by the Insurance Information Institute (III)

Many of these top car insurance companies offer competitive rates for the Tesla Model S rates based on factors like discounts for safety features.

Tesla Model S Insurance Rates: What is the bottom line?

A Tesla Model S will cost you an average of $2,200 to insure ($185 per month) for full coverage. If you choose liability-only coverage, you’ll pay $890 per year or $74 per month. However, if you’re a teen driver (or have a teen driver), rates will be significantly higher, averaging about $8,114 per year or $676 per month.

You can save on your Tesla Model S insurance rates by qualifying for insurance discounts, comparing rates before buying, paying your bills on time, and more.

Do you still have questions about Tesla Model S insurance rates? Read these frequently asked questions for more information.

#1 – How much are Tesla Model S insurance rates where I live?

The best way to find out about the average cost for insurance where you live is to use a rating tool to get quotes from multiple companies. That way, you’ll be able to see what average rates look like based on your specific demographics, including where you live.

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#2 – What is Tesla insurance and how does it work?

Tesla insurance is provided directly from Tesla for interested drivers. The purpose is to offer lower insurance rates to Tesla drivers, given the vehicles’ safety ratings. This coverage is still in its infancy and is available only to California drivers, but the company has plans to expand across the nation.

Tesla understands its vehicles, technology, safety, and repair costs; therefore reduces fees by traditional insurance carriers. It also offers insurance claims management to help every Tesla owner. Tesla Insurance rate pricing displays Tesla’s active safety and advanced driver assistance features.

Coverages offered through Tesla auto insurance include liability coverage, collision coverage, and comprehensive coverage, as well as additional coverages for extras like autonomous vehicle owner liability, wall chargers, cyber identity fraud expense, electronic key replacement, etc.

# 3 – What special coverages does Tesla Insurance Services offer?

Tesla Insurance Services provide a few other types of policies for Tesla drivers. These policies will introduce a Vehicle Automation Package to reduce crashes, which includes:

• Autonomous vehicle owner liability: Covers any bodily injury or property damage that might happen while your car is in autonomous vehicle mode.
• Cyber identity fraud expense: Pays for digital identity fraud costs up to $15,000 per incident and $30,000 per policy period.
• Wall charger coverage: Pays up to $3,000 for damage or loss to the electrical power charger provided by your car’s manufacturer and used to charge your car. However, it doesn’t apply if the damage is due to a manufacturer’s fault or the driver’s negligence.
• Electronic key replacement: Covers up to $500 per loss of the electronic keys provided with your car.

Ready to find affordable Tesla Model S auto insurance? Start comparing Tesla Model S auto insurance rate quotes for free by using your ZIP code our convenient online comparison tool.

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