Tesla Model S Insurance Cost [Rates + Comparison Guide]

Average Tesla Model S insurance rates cost $2,220 a year, or around $185 a month. You can find cheap Tesla car insurance for a Model S if you are a good driver mature drivers with good driving records may find rates as low as $109/month. However, the Tesla insurance cost for teen drivers is significantly higher, with an average of $8,114 per year or $676 per month.

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Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Cynthia Lanctot is an insurance professional with ten years of industry experience. Cynthia is licensed in several states, and holds an associate in claims law, as well as a bachelor’s degree in English. Cynthia’s experience includes the New England and Northeast states. She currently works as a liability claims professional and an occasional online contributor.

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Reviewed by Cynthia Lanctot
Licensed Agent

UPDATED: May 25, 2021

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A Concise Overview

  • Full coverage option costs around $2,220 a year or $185 each month
  • A liability-only policy costs around $890 a year or $74 each month
  • The highest rates are for teenage drivers at around $8,114 a year or $676 each month
  • Good drivers can save as much as $915 a year by earning insurance policy discounts
  • Tesla Model S insurance costs around $701 more per year than the average vehicle

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 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 does Tesla Model S auto insurance cost?

The average car insurance costs for a Tesla Model S are $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.

Tesla Model S Insurance Rates Compared to Rates for a Similar Vehicle
Vehicle TypeAnnual Average Comprehensive Insurance RateAnnual Average Collision Insurance RateAnnual Average Liability
Insurance Rate
Annual Average Total Insurance Rate
Tesla Model S$582$1186$316$2,220
Tesla Model 3$444$906$316$1,802
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While these rates are expensive, you can do a few things to find the cheapest Tesla insurance rates online. Keep reading for more on the factors that can affect your Tesla Model S rates.

What impacts the cost of Tesla Model S insurance?

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.

Average Annual Tesla Model S Auto Insurance Rates by Model Year
Vehicle Model YearAnnual Average Comprehensive Insurance RateAnnual Average Collision Insurance RateAnnual Average Liability
Insurance Rate
Annual Average Total Insurance Rate
2020 Tesla Model S$582$1186$316$2,220
2019 Tesla Model S$554$1140$332$2,162
2018 Tesla Model S$532$1130$338$2,136
2017 Tesla Model S$514$1104$354$2,108
2016 Tesla Model S$496$1058$364$2,054
2015 Tesla Model S$470$1020$376$2,002
2014 Tesla Model S$452$946$384$1,918
2013 Tesla Model S$432$892$388$1,848
2012 Tesla Model S$414$800$390$1,740
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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 20’s 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:

IIHS Tesla Model S Safety Ratings
Safety Rating Test TypeTesla Model S Safety Rating
Small overlap front: driver-sideN/R
Small overlap front: passenger-sideN/R
Moderate overlap frontN/R
SideN/R
Roof strengthN/R
Head restraints and seatsN/R
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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.

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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.

NHTSA Tesla Model S Crash Test Ratings
Vehicle TestedOverall Crash Test RatingFrontal Crash Test RatingSide Crash Test RatingRollover Crash Test Rating
2020 Tesla Model S (All Variants) 5 HB AWDN/RN/RN/R5 stars
2019 Tesla Model S P90D 5 HB AWDN/RN/RN/R5 stars
2019 Tesla Model S P100D 5 HB AWDN/RN/RN/R5 stars
2019 Tesla Model S 90D 5 HB AWDN/RN/RN/R5 stars
2019 Tesla Model S 75D 5 HB AWDN/RN/RN/R5 stars
2019 Tesla Model S 60D 5 HB AWDN/RN/RN/R5 stars
2018 Tesla Model S P90D 5 HB AWDN/RN/RN/R5 stars
2018 Tesla Model S P100D 5 HB AWDN/RN/RN/R5 stars
2018 Tesla Model S 90D 5 HB AWDN/RN/RN/R5 stars
2018 Tesla Model S 75D 5 HB AWDN/RN/RN/R5 stars
2018 Tesla Model S 60D 5 HB AWDN/RN/RN/R5 stars
2017 Tesla Model S P90D 5 HB AWDN/RN/RN/R5 stars
2017 Tesla Model S P100D 5 HB AWDN/RN/RN/R5 stars
2017 Tesla Model S 90D 5 HB AWDN/RN/RN/R5 stars
2017 Tesla Model S 75D 5 HB AWDN/RN/RN/R5 stars
2017 Tesla Model S 75 5 HB RWDN/RN/RN/R5 stars
2017 Tesla Model S 60D 5 HB AWDN/RN/RN/R5 stars
2017 Tesla Model S 60 5 HB RWDN/RN/RN/R5 stars
2016 Tesla Model S P90D 5 HB AWD Later ReleaseN/RN/RN/R5 stars
2016 Tesla Model S P90D 5 HB AWD Early ReleaseN/RN/R5 stars5 stars
2016 Tesla Model S P85D 5 HB AWDN/RN/R5 stars5 stars
2016 Tesla Model S P100D 5 HB AWD Later ReleaseN/RN/RN/R5 stars
2016 Tesla Model S P100D 5 HB AWD Early ReleaseN/RN/R5 stars5 stars
2016 Tesla Model S 90D 5 HB AWD Later ReleaseN/RN/RN/R5 stars
2016 Tesla Model S 90D 5 HB AWD Early ReleaseN/RN/R5 stars5 stars
2016 Tesla Model S 90 5 HB RWD5 stars5 stars5 stars5 stars
2016 Tesla Model S 85D 5 HB AWDN/RN/R5 stars5 stars
2016 Tesla Model S 85 5 HB RWD5 stars5 stars5 stars5 stars
2016 Tesla Model S 75D 5 HB AWD Later ReleaseN/RN/RN/R5 stars
2016 Tesla Model S 75D 5 HB AWD Early ReleaseN/RN/R5 stars5 stars
2016 Tesla Model S 75 5 HB RWD Later ReleaseN/RN/RN/R5 stars
2016 Tesla Model S 75 5 HB RWD Early Release5 stars5 stars5 stars5 stars
2016 Tesla Model S 70D 5 HB AWD5 stars5 stars5 stars5 stars
2016 Tesla Model S 70 5 HB RWD5 stars5 stars5 stars5 stars
2016 Tesla Model S 60D 5 HB AWD Later ReleaseN/RN/RN/R5 stars
2016 Tesla Model S 60D 5 HB AWD Early ReleaseN/RN/R5 stars5 stars
2016 Tesla Model S 60 5 HB RWD Later ReleaseN/RN/RN/R5 stars
2016 Tesla Model S 60 5 HB RWD Early Release5 stars5 stars5 stars5 stars
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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 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.

Tesla Model S Insurance Loss Probably by Coverage Type
Insurance Coverage CategoryTesla Model S Loss Rate
Collision224%
Property Damage16%
Comprehensive108%
Personal Injury-61%
Medical Payment-54%
Bodily Injury4%
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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.

Tesla Model S Insurance Companies by Market Share
Company RankInsurance CompanySales VolumeMarket Share
1State Farm$65,615,1909.3%
2GEICO$46,106,9716.6%
3Progressive$39,222,8795.6%
4Liberty Mutual$35,600,0515.1%
5Allstate$35,025,9035.0%
6Travelers$28,016,9664.0%
7USAA$23,483,0803.3%
8Chubb$23,388,3853.3%
9Farmers$20,643,5592.9%
10Nationwide$18,442,1452.6%
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To see this Insurance Information Institute (III) data graphically, take a look at this chart.

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.

#1 – How much does Tesla insurance cost where I live?

The best way to find out about the average cost for insurance where you live is to use a rate tool like the one on this page 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 claims management to help Tesla owners. Tesla Insurance rate pricing displays Tesla’s active safety and advanced driver assistance features.

Coverages offered through Tesla 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 your 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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