Are Tesla Model Ss Expensive to Insure? [Rates + Comparison Guide]
Tesla Model S insurance rates cost $2,220 a year, or around $185 a month. Comprehensive, collision, and liability insurance cost around $541, $789, and $626, respectively.
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Written by
Leslie Kasperowicz
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Reviewed by
Daniel Walker
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UPDATED: Jun 24, 2020
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Key takeaways:
- Full coverage costs around $2,220 a year or $185 each month
- A liability-only policy costs around $890 a year or $74 each month
- 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 policy discounts
- Tesla Model S insurance costs around $701 more per year than the average vehicle
Tesla Model insurance rates are $701 more expensive per year than the average vehicle. Through policy discounts, you can save up to $915 per year. Continue reading to learn more.
You can start comparing quotes for Tesla Model S auto insurance rates from some of the best auto insurance companies by using our free online tool now.
Table of Contents
Tesla Model S Insurance Cost
The average auto insurance rates for a Tesla Model S cost $2,220 a year or $185 a month.
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Is 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 S.
| Vehicle | Comprehensive | Collision | Liability | Total |
| Tesla Model S | $582 | $1186 | $316 | $2,220 |
| Tesla Model 3 | $444 | $906 | $316 | $1,802 |
However, there are a few things you can do to find the cheapest Tesla insurance rates online.
What Impacts the Cost of Tesla Model S Insurance?
The Tesla Model S trim and model you choose can impact the total price you will pay for Tesla Model S insurance coverage.
Age of the Vehicle
The average Tesla Model S auto insurance rates are higher for newer models. For example, auto insurance rates for a 2020 Tesla Model S cost $2,220, while 2012 Tesla Model S rates are $1,740, a difference of $480.
| Model Year | Comprehensive | Collision | Liability | Total |
| 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 |
Driver Age
Driver age can have a significant impact on the cost of Tesla Model S auto insurance. For example, 20-year-old drivers pay as much as $2,813 more each year for their Tesla Model S auto insurance than 40-year-old drivers.
Driver Location
Where you live can have a large impact on Tesla Model S insurance rates. For example, drivers in Los Angeles may pay $821 a year more than drivers in Philadelphia.
Your Driving Record
Your driving record can have an impact on the cost of Tesla Model S auto insurance. 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.
Tesla Model S Safety Ratings
The Tesla Model S’s safety ratings will affect your Tesla Model S auto insurance rates. See the chart below:
| Test Type | Rating |
| Small overlap front: driver-side | Not Tested |
|---|---|
| Small overlap front: passenger-side | Not Tested |
| Moderate overlap front | Not Tested |
| Side | Not Tested |
| Roof strength | Not Tested |
| Head restraints and seats | Not Tested |
| Source: Insurance Institute for Highway Safety | |
Tesla Model S Crash Test Ratings
Not only do good Tesla Model S crash test ratings mean you are better protected in a crash, but good Tesla Model S crash ratings also mean cheaper insurance rates.
| Vehicle Tested | Overall | Frontal | Side | Rollover |
| 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 |
| 1-5 Star Rating Scale, N/R = No Rating | Source: National Highway Traffic Safety Administration | ||||
|---|---|---|---|---|
Tesla Model S Safety Features
The more safety features you have on your Tesla Model S, the more likely it is that you can earn a discount. The Tesla Model S’s safety features include:
- 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
Tesla Model S Insurance Loss Probability
The lower percentage means lower Tesla Model S 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.
| Insurance Coverage Category | Loss Rate |
| Collision | 224% |
|---|---|
| Property Damage | 16% |
| Comprehensive | 108% |
| Personal Injury | -61% |
| Medical Payment | -54% |
| Bodily Injury | 4% |
| Source: Insurance Institute for Highway Safety | |
Tesla Model S Finance and Insurance Cost
When financing a Tesla Model S, most lenders will require your carry higher Tesla Model S coverage options including comprehensive coverage, so be sure to shop around and compare Tesla Model S auto insurance rates from the best companies using our FREE tool below.
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Enter your ZIP code below to view companies that have cheap auto insurance rates.
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5 Ways to Save on Tesla Model S Insurance
You have more options at your disposal to save money on your Tesla Model S auto insurance costs. For example, try these five tips:
- Watch Your Insurer Closely When Your Tesla Model S Needs Repairs
- Don’t Always Pick the Cheapest Tesla Model S Insurance Policy
- Tell Your Insurer About Different Drivers or Uses for Your Tesla Model S
- Use Paperless Billing for Your Tesla Model S Insurance Policy
- Take Public Transit Instead of Driving Your Tesla Model S
Top Tesla Model S Insurance Companies
The best auto insurance companies for Tesla Model S insurance rates will offer competitive rates, discounts, and account for the Tesla Model S’s safety features. The following list of auto insurance companies outlines which companies hold the highest market share.
| Rank | Company | Volume | Market Share |
| 1 | State Farm | $65,615,190 | 9.3% |
| 2 | GEICO | $46,106,971 | 6.6% |
| 3 | Progressive | $39,222,879 | 5.6% |
| 4 | Liberty Mutual | $35,600,051 | 5.1% |
| 5 | Allstate | $35,025,903 | 5.0% |
| 6 | Travelers | $28,016,966 | 4.0% |
| 7 | USAA | $23,483,080 | 3.3% |
| 8 | Chubb | $23,388,385 | 3.3% |
| 9 | Farmers | $20,643,559 | 2.9% |
| 10 | Nationwide | $18,442,145 | 2.6% |
| Source: Insurance Information Institute | |||
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