Tesla Model S Insurance Cost Estimate [How to Find Cheap Rates]

Insurance rates for a Tesla Model S average $2,220 a year, or around $185 a month. On average, comprehensive coverage costs $541, collision coverage costs $789, and liability coverage costs $626 for Tesla Model S insurance.

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Jul 17, 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 S insurance rates are around $701 more expensive than the average vehicle with full coverage costing around $2,220 a year or $185 a month.

Good drivers can save up to $915 a year in policy discounts by practicing safe driving habits. Let’s take a look at Tesla Model S insurance rates, crash test ratings, and more.

You can start comparing quotes for Tesla Model S car insurance rates from some of the best car insurance companies by using our free online tool now.

Tesla Model S Insurance Cost

The average Tesla Model S auto insurance costs are $2,220 a year or $185 a month.

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Are Tesla Model Ss 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 Comprehensive Collision Liability Total
Tesla Model S $582 $1,186 $316 $2,220
Tesla Model 3 $444 $906 $316 $1,802
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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 will affect the total price you will pay for Tesla Model S insurance coverage.

Age of the Vehicle

Older Tesla Model S models generally cost less to insure. For example, car insurance for a 2020 Tesla Model S costs $2,220, while 2012 Tesla Model S insurance costs are $1,740, a difference of $480.

Model Year Comprehensive Collision Liability Total
2020 Tesla Model S $582 $1,186 $316 $2,220
2019 Tesla Model S $554 $1,140 $332 $2,162
2018 Tesla Model S $532 $1,130 $338 $2,136
2017 Tesla Model S $514 $1,104 $354 $2,108
2016 Tesla Model S $496 $1,058 $364 $2,054
2015 Tesla Model S $470 $1,020 $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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Driver Age

Driver age can have a significant effect on Tesla Model S car insurance rates. As an example, a 30-year-old driver pays around $98 more each year for their Tesla Model S car insurance than a 40-year-old driver.

Driver Location

Where you live can have a large impact on Tesla Model S insurance rates. For example, drivers in Los Angeles may pay $317 a year more than drivers in Houston.

Your Driving Record

Your driving record can have an impact on the cost of Tesla Model S car 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 Crash Test Ratings

The crash test ratings of the Tesla Model S can impact your Tesla Model S car 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
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Tesla Model S Safety Features

The Tesla Model S safety features play a vital role in keeping passengers safe in crashes, but they can also help lower your Tesla Model S auto insurance rates. 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 auto insurance rates; higher percentages mean higher Tesla Model S car insurance rates. The Tesla Model S’s insurance loss probability varies for each form 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
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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 car insurance at the dealership, so be sure to shop around and compare Tesla Model S car insurance quotes from the best companies using our FREE tool below.

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Ways to Save on Tesla Model S Insurance

Although it may seem like your Tesla Model S car insurance rates are set, there are a few measures that you can take to secure the best Tesla Model S car insurance rates possible. Take a look at the following five ways to save on Tesla Model S auto insurance.

  • Move to an Area with a Lower Cost of Living
  • Take a Defensive Driving Course or Any Driver’s Education Course
  • Ask About Seasonal Insurance for Your Tesla Model S
  • Check for Organization-Based Discounts, like Alumni or Employer Discounts
  • Check Reviews and State Complaints Before You Choose an Insurer

Top Tesla Model S Insurance Companies

Who is the best auto insurance company for Tesla Model S insurance rates? While the actual rates you pay will depend on many factors, here are some of the top companies offering Tesla Model S auto insurance coverage (ordered by market share). Many of these companies offer discounts for security systems and other safety features that the Tesla Model S offers.

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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Compare Free Tesla Model S Insurance Quotes Online

You can start comparing quotes for Tesla Model S car insurance rates from some of the best car insurance companies by using our free online tool now.

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Average Monthly Car Insurance Rates by State