Tesla Insurance Rates

The average cost of car insurance for a Tesla model is about $2,390 per year.

This is $496 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 $1,905 $2,797 $3,272
Tesla Model S Insurance Cost $2,488 $3,654 $4,274
Tesla Model X Insurance Cost $2,794 $4,103 $4,800
Tesla Model Y Insurance Cost $2,375 $3,487 $4,079

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 $8,097 $11,890 $13,910
18 $7,546 $11,080 $12,963
19 $6,669 $9,792 $11,456
20 $5,815 $8,538 $9,989
21 $4,876 $7,160 $8,377
22 $4,749 $6,974 $8,158
23 $4,156 $6,102 $7,138
24 $3,948 $5,797 $6,782
25 $3,407 $5,002 $5,852
30 $2,654 $3,897 $4,559
35 $2,486 $3,650 $4,270
40 $2,390 $3,510 $4,106
45 $2,326 $3,416 $3,996
55 $2,133 $3,132 $3,665
65 $2,225 $3,268 $3,823
75 $2,809 $4,124 $4,825

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 $2,533 $3,679 $4,682
Alaska $2,095 $2,904 $2,822
Arizona $2,368 $3,424 $5,044
Arkansas $2,597 $4,080 $4,492
California $2,891 $5,113 $2,891
Colorado $2,698 $3,776 $4,790
Connecticut $3,447 $5,346 $6,786
Delaware $2,854 $3,803 $4,885
Florida $3,398 $4,701 $6,125
Georgia $2,770 $4,142 $4,176
Hawaii $1,106 $1,502 $1,106
Idaho $1,922 $2,549 $3,098
Illinois $2,012 $3,042 $3,468
Indiana $2,067 $3,160 $3,546
Iowa $1,638 $2,246 $2,640
Kansas $2,178 $3,170 $3,707
Kentucky $3,149 $4,623 $5,459
Louisiana $4,042 $6,111 $6,626
Maine $1,529 $2,113 $3,120
Maryland $2,474 $3,600 $3,999
Massachusetts $1,984 $3,461 $1,984
Michigan $4,787 $7,295 $11,507
Minnesota $1,970 $2,628 $3,700
Mississippi $2,379 $3,393 $3,415
Missouri $2,242 $3,205 $4,210
Montana $2,279 $3,180 $3,701
Nebraska $1,926 $2,849 $3,095
Nevada $3,178 $4,713 $4,979
New Hampshire $2,210 $3,495 $4,418
New Jersey $2,435 $3,821 $5,000
New Mexico $2,487 $3,700 $3,840
New York $2,304 $2,901 $4,842
North Carolina $1,428 $2,454 $1,750
North Dakota $1,954 $2,970 $3,512
Ohio $1,742 $2,687 $2,756
Oklahoma $2,782 $3,984 $4,486
Oregon $2,532 $3,397 $4,058
Pennsylvania $2,133 $3,132 $3,664
Rhode Island $3,561 $5,223 $5,882
South Carolina $2,418 $3,351 $4,626
South Dakota $2,170 $3,126 $3,607
Tennessee $2,552 $3,756 $5,002
Texas $2,570 $3,712 $4,617
Utah $2,186 $3,063 $4,214
Vermont $1,683 $2,591 $2,739
Virginia $1,585 $2,434 $2,386
Washington $2,098 $2,848 $3,401
West Virginia $2,112 $3,024 $3,788
Wisconsin $2,105 $3,286 $3,748
Wyoming $1,965 $2,751 $2,929