Tesla Insurance Rates

The average cost of car insurance for a Tesla model is about $3,277 per year.

This is $1,052 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 $2,267 $3,329 $3,895
Tesla Model S Insurance Cost $3,626 $5,325 $6,230
Tesla Model X Insurance Cost $3,753 $5,511 $6,447
Tesla Model Y Insurance Cost $3,461 $5,082 $5,946

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 $11,100 $16,299 $19,068
18 $10,344 $15,190 $17,770
19 $9,142 $13,424 $15,704
20 $7,971 $11,705 $13,693
21 $6,684 $9,815 $11,483
22 $6,510 $9,560 $11,184
23 $5,696 $8,364 $9,785
24 $5,412 $7,946 $9,296
25 $4,670 $6,858 $8,022
30 $3,638 $5,342 $6,250
35 $3,408 $5,003 $5,853
40 $3,277 $4,812 $5,630
45 $3,189 $4,682 $5,478
55 $2,924 $4,294 $5,024
65 $3,051 $4,479 $5,240
75 $3,850 $5,654 $6,614

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 $3,472 $5,043 $6,419
Alaska $2,872 $3,981 $3,870
Arizona $3,246 $4,693 $6,915
Arkansas $3,560 $5,593 $6,158
California $3,963 $7,009 $3,963
Colorado $3,698 $5,176 $6,567
Connecticut $4,725 $7,328 $9,302
Delaware $3,912 $5,213 $6,696
Florida $4,658 $6,444 $8,397
Georgia $3,797 $5,678 $5,725
Hawaii $1,517 $2,059 $1,517
Idaho $2,635 $3,494 $4,247
Illinois $2,759 $4,170 $4,754
Indiana $2,834 $4,332 $4,862
Iowa $2,245 $3,078 $3,620
Kansas $2,986 $4,345 $5,082
Kentucky $4,317 $6,337 $7,483
Louisiana $5,542 $8,377 $9,083
Maine $2,096 $2,896 $4,277
Maryland $3,391 $4,936 $5,482
Massachusetts $2,719 $4,744 $2,719
Michigan $6,562 $10,000 $15,774
Minnesota $2,702 $3,602 $5,072
Mississippi $3,261 $4,652 $4,682
Missouri $3,072 $4,393 $5,772
Montana $3,124 $4,359 $5,074
Nebraska $2,640 $3,906 $4,243
Nevada $4,356 $6,461 $6,825
New Hampshire $3,030 $4,791 $6,057
New Jersey $3,338 $5,238 $6,854
New Mexico $3,409 $5,071 $5,264
New York $3,158 $3,976 $6,638
North Carolina $1,958 $3,363 $2,398
North Dakota $2,679 $4,072 $4,815
Ohio $2,388 $3,684 $3,778
Oklahoma $3,814 $5,461 $6,149
Oregon $3,471 $4,657 $5,562
Pennsylvania $2,924 $4,292 $5,022
Rhode Island $4,881 $7,160 $8,063
South Carolina $3,315 $4,594 $6,341
South Dakota $2,974 $4,286 $4,945
Tennessee $3,498 $5,149 $6,857
Texas $3,522 $5,089 $6,330
Utah $2,996 $4,199 $5,778
Vermont $2,307 $3,552 $3,755
Virginia $2,173 $3,336 $3,270
Washington $2,876 $3,904 $4,662
West Virginia $2,894 $4,145 $5,193
Wisconsin $2,885 $4,504 $5,137
Wyoming $2,694 $3,771 $4,016