Tesla Insurance Rates

The average cost of car insurance for a Tesla model is about $2,343 per year.

This is $556 worse than other luxury brands. Our car insurance comparison studies assume a 40 year old good driver with full coverage and good credit, that drives around 13,000 miles per year. They also assume a single-car policy on a brand-new vehicle, and won't reflect any multi-car discounts. Many things can contribute to the actual rates. These variables include vehicle, age, location, mileage, credit score, driving record and more. Below you will find a chart that illustrates some of these differences. The tables further down show how these factors impact Tesla insurance rates.

Good Driver and Credit
Recent At-Fault Accident
Poor Credit Rating

Tesla insurance rates will vary significantly between providers for the same coverage. If you've been with your current insurance company for more than a few years, you should get new quotes to make sure you're not overpaying. Try our Competitive Quote Tool or the form below to get free quotes to lower your insurance costs. Advertising Disclosure

Insurance Cost per Tesla Model

Model Good Driver Recent Accident Poor Credit
Tesla Model 3 Insurance Cost $1,823 $2,677 $3,132
Tesla Model S Insurance Cost $2,582 $3,791 $4,435
Tesla Model X Insurance Cost $2,608 $3,829 $4,480
Tesla Model Y Insurance Cost $2,360 $3,465 $4,054

The cost to insure a Tesla model will differ significantly by the age of the driver. Younger drivers cost more to insure because they are much more likely to be at fault in an accident. That probability decreases dramatically by the time they turn 25 and so do the premiums. In fact, insurance cost by age continues to decline until after age 60, but the increases after are modest.

Credit plays a big role in premiums in most states. The under 25 crowd is far more likely to have very little credit established. The best way to mitigate this would be to join their family's multi-vehicle policy. Their rates will become more affordable as they age up and maintain a decent driving record. They can also build their credit at the same time. While paying car insurance doesn't improve credit on its own, using a credit card to so monthly can. As long as it's paid in full every billing cycle, of course. This is also an easy way to accumulate points on a rewards credit card as it's an expense required for every driver.

Insurance costs by age vary between brands based on resale values and safety ratings. If you're not set on a Tesla, then see our insurance analysis and rankings for other makes and models here.

Tesla Insurance Cost by Age

Age Good Driver Recent Accident Poor Credit
17 $7,938 $11,655 $13,635
18 $7,396 $10,862 $12,706
19 $6,537 $9,599 $11,229
20 $5,700 $8,370 $9,791
21 $4,780 $7,019 $8,211
22 $4,655 $6,836 $7,997
23 $4,073 $5,981 $6,997
24 $3,870 $5,682 $6,648
25 $3,340 $4,903 $5,736
30 $2,601 $3,820 $4,469
35 $2,436 $3,578 $4,185
40 $2,343 $3,440 $4,025
45 $2,280 $3,348 $3,917
55 $2,091 $3,071 $3,592
65 $2,182 $3,203 $3,747
75 $2,753 $4,043 $4,730

Tesla auto insurance premiums can cost a lot more or less depending on where you live. Rates are more expensive in Michigan because they mandate much higher coverage levels. California, Hawaii and Massachusetts don't allow providers to adjust rates based on credit. These figures also do not include the potential discounts on a multi-vehicle policy. Those can provide significant savings to a household full of drivers. The table below is a breakdown of how these factors can affect Tesla models by state.

Average Tesla Insurance by State

State Good Driver Recent Accident Poor Credit
Alabama $2,483 $3,606 $4,590
Alaska $2,054 $2,847 $2,767
Arizona $2,322 $3,356 $4,944
Arkansas $2,545 $4,000 $4,404
California $2,834 $5,012 $2,834
Colorado $2,645 $3,701 $4,696
Connecticut $3,379 $5,240 $6,652
Delaware $2,797 $3,728 $4,788
Florida $3,330 $4,608 $6,004
Georgia $2,716 $4,060 $4,094
Hawaii $1,084 $1,472 $1,084
Idaho $1,884 $2,498 $3,037
Illinois $1,972 $2,982 $3,400
Indiana $2,026 $3,098 $3,476
Iowa $1,605 $2,201 $2,588
Kansas $2,135 $3,107 $3,634
Kentucky $3,087 $4,531 $5,351
Louisiana $3,962 $5,990 $6,494
Maine $1,498 $2,071 $3,058
Maryland $2,425 $3,529 $3,920
Massachusetts $1,944 $3,392 $1,944
Michigan $4,693 $7,151 $11,279
Minnesota $1,932 $2,576 $3,627
Mississippi $2,332 $3,326 $3,348
Missouri $2,197 $3,141 $4,127
Montana $2,234 $3,117 $3,628
Nebraska $1,888 $2,792 $3,034
Nevada $3,114 $4,620 $4,880
New Hampshire $2,166 $3,426 $4,331
New Jersey $2,387 $3,745 $4,901
New Mexico $2,438 $3,626 $3,764
New York $2,258 $2,844 $4,746
North Carolina $1,400 $2,405 $1,715
North Dakota $1,916 $2,911 $3,443
Ohio $1,708 $2,634 $2,701
Oklahoma $2,727 $3,905 $4,397
Oregon $2,482 $3,330 $3,978
Pennsylvania $2,091 $3,069 $3,591
Rhode Island $3,490 $5,120 $5,765
South Carolina $2,370 $3,285 $4,534
South Dakota $2,127 $3,064 $3,536
Tennessee $2,501 $3,682 $4,903
Texas $2,519 $3,639 $4,526
Utah $2,143 $3,002 $4,131
Vermont $1,649 $2,540 $2,685
Virginia $1,554 $2,386 $2,338
Washington $2,056 $2,792 $3,334
West Virginia $2,070 $2,964 $3,713
Wisconsin $2,063 $3,221 $3,674
Wyoming $1,926 $2,696 $2,872