Are Tesla Model Ss Expensive to Insure? [Guide + Free Quotes]

Tesla Model S insurance costs $185/mo or $2,220/yr, which is around $701 more per year than other cars. For teens, Tesla Model S insurance costs $676.17/mo or $8,114/yr, while good drivers are able to save as much as $76.25/mo or $915/yr on Tesla Model S insurance costs.

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D. Gilson is a writer and author of essays, poetry, and scholarship that explore the relationship between popular culture, literature, sexuality, and memoir. His latest book is Jesus Freak, with Will Stockton, part of Bloomsbury’s 33 1/3 Series. His other books include I Will Say This Exactly One Time and Crush. His first chapbook, Catch & Release, won the 2012 Robin Becker Prize from Seve...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Jul 28, 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 quite a bit 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 remaining safe out on the roadways. 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 car insurance costs for a Tesla Model S 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, auto 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 impact on Tesla Model S auto insurance rates. For example, 20-year-old drivers pay approximately $2,715 more each year for their Tesla Model S auto insurance than 30-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 $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 auto insurance. Teens and drivers in their 20’s see the highest jump in their Tesla Model S car insurance with violations on their driving record.

Tesla Model S Crash Test Ratings

Good Tesla Model S crash test ratings mean the VW is safer, which could mean cheaper 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

Good Tesla Model S safety features can result in insurers giving you car insurance discounts. The safety features for the 2020 Tesla Model S are:

  • 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

Review the Tesla Model S car insurance loss probability rates for collision, property damage, comprehensive, PIP, MedPay, and bodily injury. The lower percentage means lower Tesla Model S auto insurance costs; higher percentages mean higher Tesla Model S auto insurance costs.

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

Drivers can end up saving more money on their Tesla Model S car insurance rates by employing any one of the following strategies.

  • Don’t Assume your Tesla Model S is Cheaper to Insure than another vehicle. Compare. Compare. Compare.
  • Ask for a New Tesla Model S Auto Insurance Rate Based on Your Improved Credit Score
  • Check the Odometer on Your Tesla Model S
  • Use an Accurate Job Title When Requesting Tesla Model S Auto Insurance
  • Compare Insurance Companies After Moving

Top Tesla Model S Insurance Companies

The best auto insurance companies for Tesla Model S car insurance rates will offer competitive rates, discounts, and account for the Tesla Model S’s safety features. The following list of car 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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Compare Free Tesla Model S Insurance Quotes Online

To start comparing Tesla Model S car insurance quotes for free, use our online car insurance comparison tool.

Are you looking for free insurance quotes?

Your one-stop online insurance guide. Get free quotes now!

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