Buy Cheap Tesla Model S Auto Insurance in 2023
Average Tesla Model S insurance rates cost $2,220 a year, or around $185 a month. Mature drivers with good driving records may find rates as low as $109/month. However, the average Tesla insurance cost for teen drivers is $8,114 per year or $676 per month.
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Ty Stewart
Licensed Insurance Agent
Ty Stewart is the founder and CEO of SimpleLifeInsure.com. He started researching and studying about insurance when he got his first policy for his own family. He has been featured as an insurance expert speaker at agent conventions and in top publications. As an independent licensed insurance agent, he has helped clients nationwide to secure affordable coverage while making the process simpl...
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UPDATED: Nov 6, 2023
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Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our auto insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different auto insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Nov 6, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our auto insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different auto insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Full-coverage Tesla Model S insurance rates 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 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.
| Vehicle Type | Annual Average Comprehensive Insurance Rate | Annual Average Collision Insurance Rate | Annual 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 |
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.
| Vehicle Model Year | Annual Average Comprehensive Insurance Rate | Annual Average Collision Insurance Rate | Annual 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 |
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:
| Safety Rating Test Type | Tesla Model S Safety Rating |
|---|---|
| Small overlap front: driver-side | N/R |
| Small overlap front: passenger-side | N/R |
| Moderate overlap front | N/R |
| Side | N/R |
| Roof strength | N/R |
| Head restraints and seats | N/R |
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.
| Vehicle Tested | Overall Crash Test Rating | Frontal Crash Test Rating | Side Crash Test Rating | Rollover Crash Test Rating |
|---|---|---|---|---|
| 2020 Tesla Model S (All Variants) 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2019 Tesla Model S P90D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2019 Tesla Model S P100D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2019 Tesla Model S 90D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2019 Tesla Model S 75D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2019 Tesla Model S 60D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2018 Tesla Model S P90D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2018 Tesla Model S P100D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2018 Tesla Model S 90D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2018 Tesla Model S 75D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2018 Tesla Model S 60D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2017 Tesla Model S P90D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2017 Tesla Model S P100D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2017 Tesla Model S 90D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2017 Tesla Model S 75D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2017 Tesla Model S 75 5 HB RWD | N/R | N/R | N/R | 5 stars |
| 2017 Tesla Model S 60D 5 HB AWD | N/R | N/R | N/R | 5 stars |
| 2017 Tesla Model S 60 5 HB RWD | N/R | N/R | N/R | 5 stars |
| 2016 Tesla Model S P90D 5 HB AWD Later Release | N/R | N/R | N/R | 5 stars |
| 2016 Tesla Model S P90D 5 HB AWD Early Release | N/R | N/R | 5 stars | 5 stars |
| 2016 Tesla Model S P85D 5 HB AWD | N/R | N/R | 5 stars | 5 stars |
| 2016 Tesla Model S P100D 5 HB AWD Later Release | N/R | N/R | N/R | 5 stars |
| 2016 Tesla Model S P100D 5 HB AWD Early Release | N/R | N/R | 5 stars | 5 stars |
| 2016 Tesla Model S 90D 5 HB AWD Later Release | N/R | N/R | N/R | 5 stars |
| 2016 Tesla Model S 90D 5 HB AWD Early Release | N/R | N/R | 5 stars | 5 stars |
| 2016 Tesla Model S 90 5 HB RWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2016 Tesla Model S 85D 5 HB AWD | N/R | N/R | 5 stars | 5 stars |
| 2016 Tesla Model S 85 5 HB RWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2016 Tesla Model S 75D 5 HB AWD Later Release | N/R | N/R | N/R | 5 stars |
| 2016 Tesla Model S 75D 5 HB AWD Early Release | N/R | N/R | 5 stars | 5 stars |
| 2016 Tesla Model S 75 5 HB RWD Later Release | N/R | N/R | N/R | 5 stars |
| 2016 Tesla Model S 75 5 HB RWD Early Release | 5 stars | 5 stars | 5 stars | 5 stars |
| 2016 Tesla Model S 70D 5 HB AWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2016 Tesla Model S 70 5 HB RWD | 5 stars | 5 stars | 5 stars | 5 stars |
| 2016 Tesla Model S 60D 5 HB AWD Later Release | N/R | N/R | N/R | 5 stars |
| 2016 Tesla Model S 60D 5 HB AWD Early Release | N/R | N/R | 5 stars | 5 stars |
| 2016 Tesla Model S 60 5 HB RWD Later Release | N/R | N/R | N/R | 5 stars |
| 2016 Tesla Model S 60 5 HB RWD Early Release | 5 stars | 5 stars | 5 stars | 5 stars |
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.
| Insurance Coverage Category | Tesla Model S Loss Rate |
|---|---|
| Collision | 224% |
| Property Damage | 16% |
| Comprehensive | 108% |
| Personal Injury | -61% |
| Medical Payment | -54% |
| Bodily Injury | 4% |
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.
Frequently Asked Questions
Is it possible to find cheap auto insurance for a Tesla Model S?
While Tesla vehicles generally have higher insurance rates due to their cost and advanced features, it is possible to find affordable auto insurance for a Tesla Model S. By shopping around for quotes, taking advantage of available discounts, and considering factors such as your driving record and deductible, you can increase your chances of finding cheaper auto insurance rates for your Tesla Model S.
What factors can influence the cost of Tesla Model S Auto Insurance?
Several factors can influence the cost of Tesla Model S auto insurance. These factors include:
- Vehicle value: The value of the Tesla Model S is a significant factor in determining insurance rates. Higher-value vehicles typically have higher insurance premiums.
- Safety features: The advanced safety features of the Tesla Model S, such as Autopilot and collision avoidance systems, may lead to lower insurance rates due to the vehicle’s enhanced safety profile.
- Repair costs: Teslas, including the Model S, can have higher repair costs due to their specialized parts and technology. Insurance companies consider this when calculating premiums.
- Location: Your location can impact insurance rates. Factors such as population density, crime rates, and accident statistics in your area can affect the cost of insuring your Tesla Model S.
- Driving record: Your driving history, including accidents, tickets, and violations, can influence the cost of your auto insurance. A clean driving record generally leads to lower premiums.
- Deductible amount: The deductible is the amount you pay out-of-pocket before insurance coverage kicks in. Choosing a higher deductible can lower your premium, but ensure you can comfortably afford the deductible amount if needed.
Are there any specific auto insurance discounts available for a Tesla Model S?
Yes, there may be specific auto insurance discounts available for a Tesla Model S. While the availability of discounts can vary between insurance companies, some common ones include:
- Safe driver discount: If you have a clean driving record with no accidents or traffic violations, you may be eligible for a safe driver discount.
- Multi-policy discount: If you have multiple insurance policies with the same company, such as auto and home insurance, you may qualify for a discount by bundling them.
- Safety features discount: Tesla Model S’s advanced safety features, such as automatic emergency braking and lane departure warning, may make you eligible for discounts.
- Good student discount: Full-time students with good grades can often receive a discount on their auto insurance premiums.
Should I purchase additional coverage for my Tesla Model S to protect its value?
While the minimum required auto insurance coverage is mandatory in most jurisdictions, purchasing additional coverage for your Tesla Model S can help protect its value. Consider the following options:
- Collision coverage: This coverage pays for repairs or replacement if your Tesla Model S is damaged in an accident, regardless of fault.
- Comprehensive coverage: Comprehensive insurance covers damage to your vehicle caused by non-collision incidents, such as theft, vandalism, or natural disasters.
- Uninsured/underinsured motorist coverage: This coverage protects you if you’re involved in an accident with a driver who doesn’t have insurance or lacks sufficient coverage.
- Gap insurance: If you have a loan or lease on your Tesla Model S, gap insurance can cover the difference between the vehicle’s value and the outstanding balance in the event of a total loss.
Can I take advantage of any incentives or programs to reduce insurance costs for a Tesla Model S?
While insurance costs are primarily determined by the insurance company and various factors, you may be eligible for certain incentives or programs that can potentially reduce your insurance costs. Examples include:
- Electric vehicle (EV) incentives: Some states or municipalities offer incentives for owning an electric vehicle, which can indirectly reduce your insurance costs. These incentives vary by location, so check with local authorities or your insurance provider for information.
- Usage-based insurance programs: Some insurance companies offer usage-based insurance programs where your premiums are based on your driving habits. If you’re a safe and low-mileage driver, this type of program can potentially lead to lower insurance rates.
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Ty Stewart
Licensed Insurance Agent
Ty Stewart is the founder and CEO of SimpleLifeInsure.com. He started researching and studying about insurance when he got his first policy for his own family. He has been featured as an insurance expert speaker at agent conventions and in top publications. As an independent licensed insurance agent, he has helped clients nationwide to secure affordable coverage while making the process simpl...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.